THE MOST EXPENSIVE LAND IN KENYA-COMMERCIAL USE
The most expensive land in Kenya is in two categories
The most expensive available land in Kenya for commercial purposes is located in the CBD.
This is the land where the former Nakumatt Downtown branch that caught fire is.
The land is ¼ acres in size and the owners are asking for KES 300,000,000 for the ¼ acre plot. This is a whooping KES 1.2 Billion per acre.
The average price of an acre of land in CBD and Upper Hill stands at KES 200,000,000 per acre. Each individual land owner here has the liberty to fix the amount he/she feels is best.
There is a 2 acre plot of land near the Israeli Embassy along 2nd Ngong Avenue at the point where the Israeli Embassy has put up a vehicle check point.
The asking price per acre is way above the KES 200,000,000 per acre rates.
DAR ES SALAAM
The current land price per acre in Dar es Salaam is in the range of KES 300,000,000. This means that the Kenyan land prices will continue to rise till this level.
The current land price per acre in China CBD is in the range of KES 400,000,000 per acre.
This means that in several years as Kenya continues to industrialize, this will be the average land price per acre.
LAND ALONG THE EQUATOR
Since Nairobi is positioned at the equator, it enjoys the best weather worldwide compared to other regions found in the tropics.
This fact makes Nairobi land price appreciate since the main demand drivers are international clientele who want to set up office and residence in an area where there is 365 days of sun and favorable weather.
This is why Nairobi and Dar es Salaam have such high CBD land prices as compared to other industrialized African countries such as South Africa and Egypt even though they have inferior infrastructure.
Land is a scarce resource. Therefore, this resource should be utilized very keenly to enjoy maximum output.
In the year 2009, land price per acre in Upper Hill was KES 100,000,000. By Mid 2010, the price had shot up to KES 150,000,000. Currently [Feb 2011], the prices are in the range of KES 200,000,000. This upward trend will keep increasing till the price is in tandem with the Developed world CBD prices of KES 400,000,000 an acre. The time is now for developers to make the decision to invest in land here.
To see various land prices around Nairobi, visit www.a4architect.com/landforsale.
Francis Gichuhi Kamau