Wednesday, July 9, 2025
  • About
  • Advertise
  • Careers
  • Contact
NewsTrendsKE
  • NewsTrendsKE
  • Business
  • Deals
  • Women in Business
  • Sustainability
  • Featured
  • Op-Eds
  • Lifestyle
  • Technology
  • Phones
  • Sports
  • World
  • Contact Us
No Result
View All Result
NewsTrendsKE
No Result
View All Result

Karen’s Rise as a Commercial Hub Spurs Fueled by Growth in Neighboring Suburbs

Admin by Admin
25 July 2023
in Featured
0
Karen’s Rise as a Commercial Hub Spurs Fueled by Growth in Neighboring Suburbs
493
SHARES
1.4k
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

HassConsult recently released the Hass Property price indices for the second quarter of 2023, revealing a stagnation in property prices with a 0.5 percent drop in the quarter and a cumulative 1.8 percent drop over the year.

This decline in property prices can be attributed to economic uncertainty arising from increasing costs, the possibility of higher taxation, and a rise in financing expenses. As a result, consumer confidence has decreased, leading to a decrease in speculative demand for real estate.

Related posts

State House, Nairobi

Inside Kenya’s State House: A Century of Power, Architecture, and Controversy

24 June 2025
Britam Betalab and Oye Media Rollout

Britam’s BetaLab Backs Oye to Power Boda Riders with Insurance and Fuel Credit

17 June 2025

On the rental side, average property rental prices experienced a marginal increase of 0.1% in the quarter. This growth was primarily driven by a renewed demand for rental apartments, which continued to grow due to their increased affordability, rising by 1.8 percent in the quarter. However, the demand for houses decreased by 0.5 percent during the same period.

Notwithstanding the overall subdued performance in both sale and rental pricing, certain areas showed pockets of growth. Particularly, Ngong, Langata, and Ongata Rongai demonstrated robust returns across the board.

In the case of Langata and Ngong, sale prices for houses increased by 12.8 percent and 18 percent respectively in the year leading up to June 2023. Meanwhile, apartment prices in these areas also experienced significant growth, rising by 15.5 percent and 6.8 percent respectively in the same period.

Ms. Sakina Hassanali, the Head of Development, Consulting, and Research at Hass Consult, attributed this growth to the expansion of Ngong road, which transformed Karen into a super suburb with spillover pricing effects on surrounding areas. Ngong and Langata’s expanding infrastructure, along with their proximity to Karen, have contributed to their emergence as residential hubs.

These developments have led to increased demand for middle-market housing in surrounding suburbs, resulting in strong rental growth rates in Ngong Town and Ongata Rongai. Ngong Town witnessed a 17.6 percent increase in house rental prices in the last year, while Ongata Rongai experienced a 22 percent increase in apartment rental prices during the same period.

Tags: HassConsultKaren
Previous Post

5 Reasons Why Machinery Breakdown Insurance is a Must-Have for your business

Next Post

HMD Global Devices – Enterprise-Ready Solutions for Modern Business

Next Post
HMD Global Devices – Enterprise-Ready Solutions for Modern Business

HMD Global Devices – Enterprise-Ready Solutions for Modern Business

RECOMMENDED NEWS

Maroc Datacenter is pleased to announce its participation in GITEX Africa 2023

2 years ago
Sierra Leone’s President, Julius Maada Bio Graces Annual Education Week Celebration in Bombali District

Sierra Leone’s President, Julius Maada Bio Graces Annual Education Week Celebration in Bombali District

5 months ago
KCB and Mi Vida Homes Partners to Accelerate the Development of Affordable Houses

KCB and Mi Vida Homes Partners to Accelerate the Development of Affordable Houses 

3 months ago

A New Dawn for African Sports: Unlocking Transformational Investment in Community Sports Infrastructure

4 months ago

FOLLOW US

    BROWSE BY CATEGORIES

    • APO News
    • Business
    • Culture
    • Deal
    • Economy
    • Education
    • Featured
    • Gadgets
    • Health
    • Investments
    • Lifestyle
    • Markets
    • National
    • News
    • Op-Eds
    • Phones
    • Politics
    • Real Estate
    • Sports
    • Sustainability
    • Technology
    • Travel
    • Women in Business
    • World

    BROWSE BY TOPICS

    2018 League Absa Absa Bank Africa Agriculture AI Artificial Intelligence Balinese Culture Bali United Bolt Budget Travel Business Carrefour Champions League Chopper Bike CNN Doctor Terawan Education Equity Bank Galaxy Health Insurance Istana Negara KCB KCB Bank Kenya Kenya Airways KRA Market Stories Microsoft Nairobi National Exam Oppo PMI Report Ruto Safaricom Samsung Samsung Electronics Showmax SMEs Spotify Stanbic Stanbic Bank Technology Visit Bali

    POPULAR NEWS

    • Moi University

      Moi University Sacks 890 Staff in Major Restructuring Exercise

      1748 shares
      Share 699 Tweet 437
    • List of Banks Offering the Cheapest Loans in Kenya 2025

      1680 shares
      Share 672 Tweet 420
    • List of President William Ruto’s Advisors

      851 shares
      Share 340 Tweet 213
    • Reopening of Central Line Will Ease Traffic Congestion on Cape Town Freeways

      659 shares
      Share 264 Tweet 165
    • Zero Trace Phone: All you need to know about little known smartphone that leave no digital footprints

      622 shares
      Share 249 Tweet 156
    NewsTrendsKE

    A News Blog For Readers Who Want More

    Follow us on social media:

    • About
    • Advertise
    • Careers
    • Contact

    ©2025 NewsTrendsKE.

    No Result
    View All Result
    • NewsTrendsKE
    • Business
    • Deals
    • Women in Business
    • Sustainability
    • Featured
    • Op-Eds
    • Lifestyle
    • Technology
    • Phones
    • Sports
    • World
    • Contact Us

    ©2025 NewsTrendsKE.