Kilimani and Kileleshwa have always been one of the prime areas in Nairobi for residential property, attracting investors, families, foreigners and locals. Cytonn’s 2017 report stated that due to its strategic location, Kilimani is an ideal residential location for the upper middle-income group seeking to settle in Nairobi as well as individuals seeking short-stay accommodation close to the CBD. Kilimani has a unique blend of upper-mid income maisonettes, modern apartments and offices. The latest report even went on to show that land around Kilimani has recorded the highest Capital appreciation of 25.8% between 2011 and 2016.
Data Fintech’s latest real estate report shows that 3-bedroom apartments are popular In both Kilimani and Kileleshwa. Between January 2017 and January 2018 3-bedroom apartments in Kilimani witnessed a drop in the average sale price by 29.16% from Ksh. 24.47 to Ksh 17.92. The average sale price in Kileleshwa on the other hand surged by 46.79% from. Ksh 15.58 to Ksh. 22.87.
Rental returns showed a similar trend with Kileleshwa having higher returns in January 2018 of up to Ksh.122,380 (an 8.9% increase) while Kilimani witnessed a drop in the average rental prices to Ksh. 137,520.
Despite what may seem as a poor performance in Kilimani this January, Data Fintech’s recommendation to investors in real estate would be between a 3 bedroom apartment in Kilimani and Kileleshwa, buy Kilimani as it brings in higher returns than Kileleshwa.
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