Land price in Ruaka shoots by 125 per cent, says sur­vey

Cost of land in the rest of Ki­ambu ap­pre­ci­ated by three per cent from Sh3.8 mil­lion per eighth of an acre to Sh3.9 mil­lion over the same pe­riod, PRC re­port in­di­cates

The Star (Kenya) - - News - RICHARD MUNGAI @Richiy­mungai

Satel­lite town of Ruaka has ex­pe­ri­enced a land price boom over the last one year, a new re­port shows, based on quo­ta­tions from real es­tate firms, agents and in­di­vid­ual land own­ers.

The re­port by land-buy­ing firm, Prop­erty Re­al­ity Com­pany, at­tributes the jump in prices largely to heavy in­fra­struc­ture de­vel­op­ment in Ki­ambu county. This in­cludes the con­struc­tion of the North­ern By­pass four years ago, and in­creased hous­ing de­vel­op­ment. The Land In­dex Re­port by PRC in­di­cates the av­er­age price for an eighth of an acre in Ruaka rose from an av­er­age of Sh8 mil­lion in June 2015 to Sh18 mil­lion, an in­crease of 125 per cent.

How­ever, land prices in the rest of Ki­ambu ap­pre­ci­ated by three per cent from Sh3.8 mil­lion per eighth of an acre to Sh3.9 mil­lion over the same pe­riod.

Other ar­eas that recorded rapid ap­pre­ci­a­tion in land prices were Kis­e­rian and Utawala. The re­port shows the price for eighth of an acre in Kis­e­rian in­creased by 42 per cent from Sh600,000 to Sh850,000, while the same size of land in Utawala recorded an in­crease of 32 per cent from Sh1.1 mil­lion to Sh1.45 mil­lion.

“Ruaka, Kis­e­rian and Utawala ex­pe­ri­enced the high­est price in­creases. Ac­cess roads, elec­tric­ity, bea­cons and wa­ter re­main im­por­tant value ad­di­tion av­enue,” the re­port states.

It shows land prices rose mod­er­ately in Ngong, Ka­ji­ado, On­gata Ron­gai, Mlo­longo, Isinya, Olete­pesi, Kantafu, Syoki­mau, Muguga, Kisamis, Joska, Malaa, Athi River, Kiten­gela, Thika, Ruai, Kikuyu, Ki­ambu, Konza, Ruiru and Juja.

Land prices stag­nated only in Ka­mulu and Malili towns.

Ac­cord­ing to PRC, the sur­vey com­pared prices for 330 parcels of land, while the data was col­lected through field vis­its by trained re­searchers and com­par­isons us­ing on­line data­bases.

/CHRISPINUS WEKESA

Two Rivers Mall un­der con­struc­tion in Ruaka on Jan­uary 5 last year. The Land In­dex Re­port by PRC in­di­cates the av­er­age price for an eighth of an acre in Ruaka rose from an av­er­age of Sh8 mil­lion in June 2015 to Sh18 mil­lion this year

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