The real estate business in Nairobi saw a marginal decline in rental prices in several suburbs and satellite towns during the fourth quarter of last year between October and December.
Hass Consult, in its Fourth Quarterly report published on Wednesday, January 22, announced that rental prices dropped in Karen, Kileleshwa, Muthaiga, Nyari Estate, Runda, Westlands, Kiserian, Ngong and Tigoni.
According to the report, Ngong and Nyari Estate led the list with a significant decline in rent by 2.4 per cent followed by Muthaiga which saw a rent drop by 2.4 per cent.
The significant drop in the rental prices in the listed towns was attributed to the country's tough economy forcing landlords to rent out their houses at cheaper prices.
