Price points in satellite towns have presented potential home owners and investors with attractive entry points to make the switch from the suburbs.

For instance an acre of bulk land (unserviced) averaged Ksh.25.6 million during the quarter with Athi River town posting the lowest unit cost at Ksh.4.1 million.

Ruaka meanwhile represents the premium options in the towns with an acre costing Ksh.93.4 million.

Serviced land in satellite towns is even cheaper at an average of Ksh.15 million with Thika town holding the most affordable parcel at Ksh.11.2 million per acre.

In contrast, an acre of land in Kasarani will cost one Ksh.68.1 million and a premium Ksh.301.1 million in Kileleshwa.

The UpperHill area still holds Kenya’s most expensive land parcels with an acre going for an average Ksh.488.8 million between January and March.

Besides residential properties and land, sectors such as retail and commercial offices remain on the slump from complications arising from the COVID-19 pandemic and market glut.

Retail spaces have for instance taken a beating from reduced consumer spending power which has cut the footfall to malls and other shopping centers in addition to online shopping eating into the segment’s market share.

Commercial offices with an oversupply of 6.3 million square feet at the end of 2020 have meanwhile suffered from reduced business expansion which has served to cut occupancy rate.

The pair of sectors saw their returns fall by 0.1 and 0.2 per cent respectively while occupancy rates were down at 0.2 per cent a piece.

Asking rents for commercial office spaces have declined to an average of Ksh.93 per square feet occupied from a higher Ksh.97 in March last year.