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The Hass Property

INDEX

QUARTER ONE REPORT

2014

Property prices bounce back, as rents keep rising

• House sale prices bounced back in Q1 after the dip of the second half of 2013

• Asking prices for detached and semi detached houses rose 1.8 per cent compared with the previous quarter

• The price bounce was most pronounced for apartments, up 2.3 per cent on Q4 2013

• Rent rises also accelerated marginally in the first quarter

• Rents for detached houses rose more sharply, up 2.3 per cent, as did apartment rents, up 2.2 per cent

• The strongest rent growth continued in semi-detached houses, but at a slower rate of 2.7 per cent higher than the previous quarter, making rents for semi-detached houses 18.1 per cent higher than a year earlier

• Sales volumes rose, but most markedly for cash-financed high-end properties

Index Highlights:

SALES AND RENTAL INDEX YEAR TO Q1

The Hass Sales Index

Index

2001 =

100

350.0 340.0 330.0 2013 Q1 2013 2013 Q2 Q3 2013 Q4 2014 Q1
350.0
340.0
330.0
2013
Q1
2013
2013
Q2
Q3
2013
Q4
2014
Q1
The Hass Rental Index 330.0 320.0 Index 310.0 2001 = 100 300.0 290.0 280.0 2013
The Hass Rental Index
330.0
320.0
Index
310.0
2001 =
100 300.0
290.0
280.0
2013
Q1
2013
2013
Q2
Q3
2013
Q4
2014
Q1

HEADLINES - HASS SALES INDEX

%

Change in Quarter

% Change in Year

All Properties

 

1.9%

1.7%

Detached Houses

 

1.8%

1.1%

Semi-detached Houses

 

1.8%

3.5%

Apartments

 

2.3%

1.9%

* The Hass Composite Sales Index is a measure of asking sales prices, based on Mix Adjusted Methodology

HEADLINES - HASS RENTAL INDEX

%

Change in Quarter

% Change in Year

All Properties

 

2.3%

9.0%

Detached Houses

 

2.3%

8.7%

Semi-detached Houses

 

2.7%

18.1%

Apartments

 

2.2%

4.1%

* The Hass Composite Lettings Index is a measure of asking sales prices, based on Mix Adjusted Methodology

HassConsult Limited | ABC Place, Waiyaki Way | P.O. Box 14090 - 00800 Nairobi, Kenya T: +254 20 4446914 | F: +254 20 4447200 | M: 0722 204 764/5; 0733 629 786 | E: info@hassconsult.co.ke

+254 20 4446914 | F: +254 20 4447200 | M: 0722 204 764/5; 0733 629 786
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The Hass Property

INDEX

QUARTER ONE REPORT

2014

Hass consult today announced property price data for the first quarter of 2014 revealing a pronounced bounce back in house and apartment sales prices, and continuing rent rises.

The consultancy reported that property sales volumes also picked up from January and February and were markedly strong in March. However, the most intense activity was at the top of the market, with the cheapest properties still taking the longest to sell.

“The market continues to be handicapped by the lack of access to mortgages for mid-level and lower level buyers,” said Ms Sakina Hassanali, head of marketing for Hass Consult.

“Nationwide, the demand for housing is strongest at the lowest end of the market, but the financing options are almost non-existent, rendering the private sector property market a high-end affair for so long as property remains a cash purchase only,” she said.

The bottleneck in housing finance also continued to push rents up, as professional Kenyans stayed in rented accommodation, with the rental of choice being semi-detached town houses.

Asking rents for semi-detached houses rose a further 2.3 per cent in the first quarter of 2014 compared with prices from October to December last year, and were 18.1 per cent higher on a year earlier.

The rent rises for detached houses were much more subdued, at 8.7 per cent on a year earlier, while apartment rents rose by 4.4 per cent across the year.

“With the finance blockage also impacting landlords in acquiring new properties, and the rental yields on properties still at less than mortgage interest rates, the race is now on to get rents up to a level where landlords can cover finance costs and not end up making losses,” said Ms Hassanali.

Until then, and with cash buyers continuing to drive the market, some further asking price rises are likely in 2014, based on the reduced flow of new building - caused by the high levels of finance costs for developers.

However, many developers have now found alternative means of financing, either by raising money outside Kenya, or through taking equity stakes in projects.

“The outlook is for some marginal improvement in the rate of new building from this year, but a market that will continue to be substantially oriented to cash buyers, meaning substantially the very wealthy: until housing finance becomes a policy priority,” said Ms Hassanali.

For more information, please contact:

Sakina Hassanali

Head of Marketing & Research

HassConsult Ltd

ABC Place, Westlands

Tel: +254 020 4446914

HassConsult Limited | ABC Place, Waiyaki Way | P.O. Box 14090 - 00800 Nairobi, Kenya T: +254 20 4446914 | F: +254 20 4447200 | M: 0722 204 764/5; 0733 629 786 | E: info@hassconsult.co.ke

+254 20 4446914 | F: +254 20 4447200 | M: 0722 204 764/5; 0733 629 786
www.hassconsult.co.ke

www.hassconsult.co.ke

www.hassconsult.co.ke

The Hass Sales Index All Property Types

450 400 350 300 250 200 150 100 50 0 Index 2000 =100 2003 Q1
450
400
350
300
250
200
150
100
50
0
Index 2000 =100
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Annual Average All Property Types

35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 1 to 3 Beds 4 to 6
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
1 to 3 Beds
4 to 6 Beds
Mix Adj
ASking Price KSH.s 1000s
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Mix by Year All Property Types

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2004 2005 2006 2007
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013

Apartments (1-3 Bed)2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Semi-detached (1-3 Bed) Detached (1-3 Bed)

Semi-detached (1-3 Bed)2008 2009 2010 2011 2012 2013 Apartments (1-3 Bed) Detached (1-3 Bed) Apartments (4-6 Bed) Semi-detached

Detached (1-3 Bed)2012 2013 Apartments (1-3 Bed) Semi-detached (1-3 Bed) Apartments (4-6 Bed) Semi-detached (4-6 Bed) Detached (4-6

Apartments (4-6 Bed)2012 2013 Apartments (1-3 Bed) Semi-detached (1-3 Bed) Detached (1-3 Bed) Semi-detached (4-6 Bed) Detached (4-6

Semi-detached (4-6 Bed)2011 2012 2013 Apartments (1-3 Bed) Semi-detached (1-3 Bed) Detached (1-3 Bed) Apartments (4-6 Bed) Detached

Detached (4-6 Bed)2012 2013 Apartments (1-3 Bed) Semi-detached (1-3 Bed) Detached (1-3 Bed) Apartments (4-6 Bed) Semi-detached (4-6

Breakdown of 10 years data by Year

HassConsult Limited | ABC Place, Waiyaki Way | P.O. Box 14090 - 00800 Nairobi, Kenya T: +254 20 4446914 | F: +254 20 4447200 | M: 0722 204 764/5; 0733 629 786 | E: info@hassconsult.co.ke

The Hass Property

INDEX

QUARTER ONE REPORT

2014

SNAP SHOTS:

• The Hass Composite sales Index is representative of all property for sale in Kenya

• Property values have increased by 3.44 times since

2000.

• The index shows a property price rise of 1.9% in the last quarter and a 1.7% rise in the last year.

SNAP SHOTS:

• The annual average is representative of the average price of all properties offered for sale in Kenya.

• The average value for a property has gone from 7.1 million in December 2000 to 24.6 million in March

2014.

• The average value for a 4-6 bedroom property is currently 34.5 million.

• The average value for a 1-3 bedroom property is currently 11.5 million.

SNAP SHOTS:

• The Mix by Year is a measure of the percentage that each type of property represents in the market.

• In 2001, apartments took up 23.5% of the market,

semi-detached took up 24.5% of the market and detached houses took up 52% of the market.

• In December 2013 however, Apartments took up 41.7% of the market, Semi-detached Houses took up 24.0% of the market and Detached Houses took

up 34.3% of the market.

Semi-detached Houses took up 24.0% of the market and Detached Houses took up 34.3% of the
www.hassconsult.co.ke

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The Hass Sales Index Detached Houses

450 400 350 300 250 200 150 100 50 0 Index 2000 =100 2003 Q1
450
400
350
300
250
200
150
100
50
0
Index 2000 =100
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Annual Average

Detached Houses

50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 1 to 3 Beds
50,000
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
1 to 3 Beds
4 to 6 Beds
Mix Adj
ASking Price KSH.s 1000s
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

The Hass Property

INDEX

QUARTER ONE REPORT

2014

Annual % Change Detached Houses 50% 40% 30% 20% 10% 0% -10% -20% 2003 2004
Annual % Change
Detached Houses
50%
40%
30%
20%
10%
0%
-10%
-20%
2003
2004
Q3
Q1
2004
Q3
2005
2005
Q1
Q3
2006
2006
Q1
Q3
2007
Q1
2007
2008
Q3
Q1
2008
Q3
2009
Q1
2009
2010
Q3
Q1
2010
Q3
2011
Q1
2011
Q3
2012
2012
Q1
Q3
2013
Q1
2013
2014
Q3
Q1

SNAP SHOTS:

• Detached houses include stand alone houses, bungalows, cottages and villas either on their own plot or in a gated community.

• Property values for Detached Houses have increased by 4.01 times since 2001, a 1.8% rise in the last quarter and a 1.1% rise in the last year. The average price for a Detached House is currently 35.3 million up from 8.8 million in December 2000.

The Hass Sales Index Semi-detached Houses

450 400 350 300 250 200 150 100 50 0 Index 2000 =100 2003 Q1
450
400
350
300
250
200
150
100
50
0
Index 2000 =100
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Annual Average

Semi-detached Houses

25,000 20,000 15,000 10,000 5,000 0 1 to 3 Beds 4 to 6 Beds Mix
25,000
20,000
15,000
10,000
5,000
0
1 to 3 Beds
4 to 6 Beds
Mix Adj
ASking Price KSH.s 1000s
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Annual % Change Semi-detached Houses

50% 40% 30% 20% 10% 0% -10% -20% 2003 Q3 2004 2004 Q1 Q3 2005
50%
40%
30%
20%
10%
0%
-10%
-20%
2003
Q3
2004
2004
Q1
Q3
2005
Q1
2005
2006
Q3
Q1
2006
Q3
2007
2007
Q1
Q3
2008
2008
Q1
Q3
2009
Q1
2009
Q3
2010
2010
Q1
Q3
2011
2011
Q1
Q3
2012
2012
Q1
Q3
2013
Q1
2013
2014
Q3
Q1

SNAP SHOTS:

• Semi-detached houses include townhouses and maisonettes that are semi-detached or terraced.

• Property values for Semi-detached Houses have increased by 3.01 times since 2001, a 1.8% rise in the last quarter and a 3.5% rise in the last year. The average price is currently 19.7 million up from 6.5 million in December 2000.

The Hass Sales Index Apartments

450 400 350 300 250 200 150 100 50 0 Index 2000 =100 2003 Q1
450
400
350
300
250
200
150
100
50
0
Index 2000 =100
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Annual Average

Apartments

18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 1 to 3 Beds 4
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
1 to 3 Beds
4 to 6 Beds
Mix Adj
ASking Price KSH.s 1000s
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

50%

40%

30%

20%

10%

0%

-10%

-20%

Annual % Change Apartments

2003 Q3 2004 2004 Q1 Q3 2005 Q1 2005 Q3 2006 2006 Q1 Q3 2007
2003
Q3
2004
2004
Q1
Q3
2005
Q1
2005
Q3
2006
2006
Q1
Q3
2007
Q1
2007
2008
Q3
Q1
2008
Q3
2009
Q1
2009
Q3
2010
2010
Q1
Q3
2011
2011
Q1
Q3
2012
Q1
2012
Q3
2013
Q1
2013
2014
Q3
Q1

SNAP SHOTS:

• Apartments include apartments, duplexes and triplexes.

• Property values for Apartments have increased by 2.40 times since 2001, a 2.3% rise in the last quarter and a 1.9% rise in the last year. The average price for an Apartment is currently 12.5 million up from 5.2 million in December 2000.

HassConsult Limited | ABC Place, Waiyaki Way | P.O. Box 14090 - 00800 Nairobi, Kenya T: +254 20 4446914 | F: +254 20 4447200 | M: 0722 204 764/5; 0733 629 786 | E: info@hassconsult.co.ke

+254 20 4446914 | F: +254 20 4447200 | M: 0722 204 764/5; 0733 629 786
www.hassconsult.co.ke

www.hassconsult.co.ke

www.hassconsult.co.ke
 

The Hass Rental Index All Property Types

2012 Q1

2006 Q1

2007 Q1

2008 Q1

2009 Q1

2011 Q1

2005 Q1

2004 Q1

2010 Q1

2003 Q1

2013 Q1

Q3

Q3

Q3

Q3

Q3

Q3

Q3

Q3

Q3

Q3

Q3

2014

2004

2010

2006

2008

2007

2009

2011

2012

2005

2013

400

350

300

250

200

150

100

50

0

Q 3 Q 3 Q 3 Q 3 Q 3 Q 3 Q 3 2014 2004

Index 2000 =100

 
 

Annual Average All Property Types

2006 Q1

2007 Q1

2005 Q1

2009 Q1

2003 Q1

2004 Q1

2008 Q1

2010 Q1

2011 Q1

2013 Q1

2012 Q1

Q3

Q3

Q3

Q3

Q3

Q3

Q3

Q3

Q3

Q3

Q3

2004

2014

2010

2006

2008

2007

2009

2011

2012

2005

2013

200

150

100

50

0

Q 3 Q 3 Q 3 Q 3 Q 3 Q 3 Q 3 Q 3

ASking Price KSH.s 1000s

 

1 to 3 Beds

4 to 6 Beds

Mix Adj

Mix by Year All Property Types

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2004 2005 2006 2007
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2004
2005
2006
2007
2008
2009
2010
2011

Apartments (1-3 Bed)20% 10% 0% 2004 2005 2006 2007 2008 2009 2010 2011 Semi-detached (1-3 Bed) Detached (1-3

Semi-detached (1-3 Bed)2006 2007 2008 2009 2010 2011 Apartments (1-3 Bed) Detached (1-3 Bed) Apartments (4-6 Bed) Semi-detached

Detached (1-3 Bed)2010 2011 Apartments (1-3 Bed) Semi-detached (1-3 Bed) Apartments (4-6 Bed) Semi-detached (4-6 Bed) Detached (4-6

Apartments (4-6 Bed)2010 2011 Apartments (1-3 Bed) Semi-detached (1-3 Bed) Detached (1-3 Bed) Semi-detached (4-6 Bed) Detached (4-6

Semi-detached (4-6 Bed)2009 2010 2011 Apartments (1-3 Bed) Semi-detached (1-3 Bed) Detached (1-3 Bed) Apartments (4-6 Bed) Detached

Detached (4-6 Bed)2010 2011 Apartments (1-3 Bed) Semi-detached (1-3 Bed) Detached (1-3 Bed) Apartments (4-6 Bed) Semi-detached (4-6

HassConsult Limited | ABC Place, Waiyaki Way | P.O. Box 14090 - 00800 Nairobi, Kenya T: +254 20 4446914 | F: +254 20 4447200 | M: 0722 204 764/5; 0733 629 786 | E: info@hassconsult.co.ke

The Hass Property

INDEX

QUARTER ONE REPORT

2014

SNAP SHOTS:

• The Hass Composite Letting Index is representative of all property for rental in Kenya

• Rents have increased by 3.20 times since 2001

• The index shows rents have risen by 2.3% in the last quarter but have risen by 9.0% in the last year.

SNAP SHOTS:

• The annual average is representative of the average rent of all properties offered to let in Kenya.

• The average rental for a property has gone from Kshs. 38,516 in December 2000 to Kshs. 123,197 in March 2014.

• The average rent for a 4-6 bedroom property is currently Kshs. 189,843

• The average rent for a 1-3 bedroom property is currently Kshs. 69,397

SNAP SHOTS:

• The Mix by Year is a measure of the percentage that each type of property represents in the market.

• In 2001, Apartments took up 45.3% of the market,

Semi-detached Houses took up 20.5% of the market and Detached Houses took up 34.1% of the market.

• In December 2013 however, Apartments took up 54.3% of the market, Semi-detached Houses took up 20.0% of the market and Detached Houses took

up 25.7% of the market.

Semi-detached Houses took up 20.0% of the market and Detached Houses took up 25.7% of the
www.hassconsult.co.ke

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www.hassconsult.co.ke

The Hass Rental Index Detached Houses

400 350 300 250 200 150 100 50 0 Index 2000 =100 2003 Q1 Q3
400
350
300
250
200
150
100
50
0
Index 2000 =100
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Annual Average

Detached Houses

250 200 150 100 50 0 1 to 3 Beds 4 to 6 Beds Mix
250
200
150
100
50
0
1 to 3 Beds
4 to 6 Beds
Mix Adj
ASking Price KSH.s 1000s
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

The Hass Property

INDEX

QUARTER ONE REPORT

2014

50%

40%

30%

20%

10%

0%

-10%

-20%

Annual % Change Detached Houses

2003 Q1 2003 2004 Q3 Q1 2004 Q3 2005 Q1 2005 2006 Q3 Q1 2006
2003
Q1
2003
2004
Q3
Q1
2004
Q3
2005
Q1
2005
2006
Q3
Q1
2006
Q3
2007
Q1
2007
2008
Q3
Q1
2008
Q3
2009
2009
Q1
Q3
2010
2010
Q1
Q3
2011
Q1
2011
Q3
2012
Q1
2012
Q3
2013
Q1
2013
Q3

SNAP SHOTS:

• Detached houses include stand alone houses, bungalows, cottages and villas either on their own plot or in a gated community.

• Rental values for Detached Houses have increased by 3.32 times since 2001, a 2.3% rise in the last quarter and an 8.7% rise in the last year. The average rental for a Detached House is currently Kshs. 189,332 up from Kshs. 56,959 in December 2000.

The Hass Rental Index Semi-detached Houses

400 350 300 250 200 150 100 50 0 Index 2000 =100 2003 Q1 Q3
400
350
300
250
200
150
100
50
0
Index 2000 =100
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Annual Average

Semi-detached Houses

200 150 100 50 0 1 to 3 Beds 4 to 6 Beds Mix Adj
200
150
100
50
0
1 to 3 Beds
4 to 6 Beds
Mix Adj
ASking Price KSH.s 1000s
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

50%

40%

30%

20%

10%

0%

-10%

-20%

Annual % Change Semi-detached Houses

2003 Q1 2003 Q3 2004 2004 Q1 Q3 2005 Q1 2005 2006 Q3 Q1 2006
2003
Q1
2003
Q3
2004
2004
Q1
Q3
2005
Q1
2005
2006
Q3
Q1
2006
Q3
2007
2007
Q1
Q3
2008
2008
Q1
Q3
2009
Q1
2009
2010
Q3
Q1
2010
Q3
2011
Q1
2011
Q3
2012
Q1
2012
Q3
2013
Q1
2013
Q3

SNAP SHOTS:

• Semi-Detached houses include townhouses and maisonettes that are semi-detached or terraced.

• Rental values Semi-detached Houses have increased by 3.05 times since 2001, a 2.7% rise in the last quarter and an 18.1% rise in the last year. The average rental is currently Kshs. 130,142 up from Kshs. 42,688 in December 2000.

The Hass Rental Index Apartments

400 350 300 250 200 150 100 50 0 Index 2000 =100 2003 Q1 Q3
400
350
300
250
200
150
100
50
0
Index 2000 =100
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

Annual Average

Apartments

120 100 80 60 40 20 0 1 to 3 Beds 4 to 6 Beds
120
100
80
60
40
20
0
1 to 3 Beds
4 to 6 Beds
Mix Adj
ASking Price KSH.s 1000s
2003 Q1
Q3
2004
2004 Q1
Q3
2005
2005 Q1
Q3
2006
2006 Q1
Q3
2007
2007 Q1
Q3
2008
2008 Q1
Q3
2009
2009 Q1
Q3
2010
2010 Q1
Q3
2011
2011 Q1
Q3
2012
2012 Q1
Q3
2013
2013 Q1
Q3
2014

50%

40%

30%

20%

10%

0%

-10%

-20%

Annual % Change Apartments 2003 2003 Q1 Q3 2004 2004 Q1 Q3 2005 Q1 2005
Annual % Change
Apartments
2003
2003
Q1
Q3
2004
2004
Q1
Q3
2005
Q1
2005
2006
Q3
Q1
2006
Q3
2007
Q1
2007
2008
Q3
Q1
2008
Q3
2009
Q1
2009
Q3
2010
2010
Q1
Q3
2011
2011
Q1
Q3
2012
2012
Q1
Q3
2013
Q1
2013
Q3

SNAP SHOTS:

• Apartments include apartments, duplexes and triplexes.

• Rental values for Apartments have increased by 3.07 times since 2001, 2.2% rise in the last quarter and a 4.1% rise in the last year. The average rent for an Apartment is currently Kshs. 71,370 up from Kshs. 21,638 in December 2000.

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