Report Highlights Why Kenyans Choose Limuru for Renting

Limuru has become a sought-after neighborhood for Kenyans seeking rental properties, according to the latest data from the Hass Consult Property Index.

The report, which covers the three months leading up to September 2023, reveals a 3.2% increase in apartment rental prices in Limuru. The surge in popularity can be attributed to the abundance of infrastructure projects in or near the area. Notably, the report highlights the improved road network in Limuru, allowing residents to reach the Nairobi Central Business District in just one hour. The report emphasizes that satellite towns with exceptional access infrastructure, such as Thika, Syokimau, Ngong, Limuru, and Juja, continue to surpass the market average in terms of performance.

The report reveals that Limuru experienced a modest 0.2% uptick in overall housing costs during the last quarter, while rental prices saw a notable 1.4% surge over the course of the past year. What's intriguing is that the data also points to a rising pattern of individuals choosing to rent rather than buy homes in Limuru. Over a span of more than twenty years, the market share has seen a remarkable increase, catapulting from 23.5% in 2001 to an impressive 64.4% by December 2022.

As per the report, there has been a significant increase in the average rental rates. In December 2000, the average rent for a property was Sh38,516, but it has now skyrocketed to Sh163,667 with variations depending on the unit. When it comes to land prices, there has been a slight decline of 3.1 percent in the third quarter of 2022 when compared to the preceding period.

According to the report, the town's average land price per acre is Sh20.3 million. What's intriguing is that Limuru experiences the smallest yearly rise in land costs. In fact, over the past year, prices have decreased by 4.94 percent, setting it apart from other regions with its distinct pattern.