Best Land Prices Around Nairobi, Kenya – Price KES 600000
Currently the best land value around Nairobi is to be found in the area between Mombasa road on one side, Kangundo road, Eastern Bypass on the other and Kangundo-Machakos road on the end.
In this area is where the Greater Eastern Bypass is currently being constructed.
Previous Best Land Prices
In the last two years [2008-2010], the best and value was to be found along the current Eastern Bypass between Mombasa Road and Thika road passing through Njiru. Land price was around KES 150,000 to KES 200,000 per acre when there was no all-weather road. When the road construction began, the price rose steadily. Now that the road construction is complete, land price next to the Bypass is around KES 8 to 10 million. This price keeps rising on the daily as demand creeps in.
Cardinal Rule In Buying Land
People who saw the light earlier on and bought while the land price was KES 150,000 are now laughing all the way to the bank. The cardinal rule in investing in land is simple: Research on whether there are plans by the Government to put in infrastructure, buy when there is no infrastructure and sell when infrastructure is in place. A kilometer of tarmac road costs around KES 50,000,000 to put up. This means that its only the Government that can afford to put up tarmac roads therefore, land value will appreciate along the tarmac road as opposed to off the tarmac road. This is why an acre of land in Kitengela next to the tarmac at KES 30,000,000 is more expensive than an acre of land closer to Nairobi-Syokimau, 2 km off the tarmac going for KES 10,000,000.
Areas such as Ongata Rongai and Kitengela were once good buys 10 years ago when there was no infrastructure. Currently, an acre of land in Rongai less than 1km from the tarmac costs around KES 20,000,000 and that is if you are lucky to find it. People who bought this land 10 years ago got the best deal.
Take Advantage Now
The Greater Eastern Bypass is currently being constructed. Plots around this area which is easily accessible to Nairobi CBD [approximately 40 to 60 km from Nairobi [ CBD] currently cost between KES 600,000 to KES 700,000 per acre and KES 80,000 per 1/8th. Once the Bypass construction is through, the plots will definitely shoot up to KES 8 to 10 million per acre just like the ones along the now-complete Eastern bypass.