By Kuria Kimani
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” – Franklin D. Roosevelt, U.S. president.
The cost of land varies greatly with location and other factors like access to water, roads among other utilities. Land near the Nairobi central business district is generally very expensive. Land prices had shot up by 638 percent within the city since 2017, although these gains have been slowed down by the Covid-19 pandemic. This writer lists the most expensive places to buy land in Kenya and cost per acre starting with:
This is the costliest place to buy an acre of land in Nairobi. According to a 2019 report by HassConsult Real Estate, an acre goes for upwards of kshs.545 million.
This is an affluent region in Nairobi that has both residential and commercial property investments. For land purchases, an acre of land goes for approximately KSh.433 million and is ranked as the second most expensive place to acquire land.
Gigiri is another neighborhood in Nairobi that is home to the super wealthy and host-among others- the Belgium, Canada, US, Sweden Embassies. The houses in this neighborhood imbue class and sophistication. The cost of land is kshs. 233 million.
Muthaiga is one of the most expensive places to purchase land in Nairobi. It enjoys high level security given its proximity to the UN headquarters and is home to many Embassies. An acre of land in Muthaiga goes for approximately Ksh 180 million.
Runda has been one of Kenya’s most expensive places to buy land since time immemorial. It is home to wealthy locals and foreigners. Privacy, CBD proximity, and security are some of the factors that make it an expensive yet desirable place to live in. a vacant acre in Runda goes for approximately Ksh 120 million.
The area is prime for investment and the wealthy troop there to build their dream houses. An acre of land in the region goes for Ksh 90 million making it one of the most expensive places to buy land in Kenya.
Spring Valley is popular with expatriates and their families. Gated communities and serene environments make the region a worthwhile investment. The land goes for approximately Ksh 70 million per acre.
Miotoni is a leafy suburb that enjoys the best of both worlds – city life and cool country life. The region’s uniqueness in well-conserved nature and security contribute to it being favored by high-income individuals for residence. A vacant piece of land as of 2021 in the area goes for approximately Ksh 58 million.