By Obegi Malack
Ngong town in Kajiado North sub county has been ranked as among towns in the country whose property prices are increasing at a rapid rate.
Ngong area tops in land prices among Nairobi satellite towns. In a report by Hass Consult, the town land price has increased by nearly a fifth in the past year. An acre in Ngong is now selling at an average of Sh25.4 million, an 18 percent increase compared to the average price of Sh21.5 million a year ago.
The report that analyzes land prices in Nairobi’s satellite towns indicated Ngong has surpassed the trend in land prices in satellite towns where the average one year increase is 2.3 percent.
“Land in Ngong was traditionally held by an old generation who owned large chunks of more than five acres with an aim of maintaining their wealth. However, we are seeing an end to this era as a new generation, their inheritors are keener on cashing in on this land by selling parcels,” said Sakina Hassanali, the Hass Consult head of development consulting and research.
The increase of property prices in the town are courtesy of construction of Southern Bypass, construction of dual Ngong road and ongoing construction of Ngong-Suswa road.
Daniel Mutua, a resident of Ngong said the increase in land prices is also due to tarmacking of Gataka road that connects the Ngong town to Karen and Ongata Rongai.
Ongata Rongai and Kiserian towns which are in Kajiado North sub county have also seen sharp hike in prices due to good infrastructure, tarmacking of the Gataka road which has reduced traffic on Kiserian Isinya road.
The two towns recorded big land price increases of 11.8 percent and 9.3 percent respectively in the past year translating to an average of Sh24.8 million and Sh8.3 million per acre.
The property reports indicated that subdivision of land in the towns has made the properties attractive for quick purchases. The subdivision has made it possible for most Kenyans to own land in the towns.