Selling prices of apartments: this will give an overview of the average exit prices of apartments in the area.

Sizes of apartments: this is to be used in unbiased comparison of the rental and selling prices as well as the developments trends in the area.

The market research focuses on the following areas: Prime land with frontage to tarmac road is scarce in the town resulting to an increase in linear developments along Limuru road towards Ndenderu. Land in Ruaka is priced at approximately Ksh 100 Million per acre and this is relatively expensive in comparison to other satellite towns such as Ngong, Athi River and Ruiru.

Ruakas population is a mix of both local middle income earners as well as foreign residents.Īs per our research on uptake of housing units in Nairobis satellite towns, Ruaka has the highest uptake at 93% compared to an average of 73% for the other satellite towns.ĭemand for housing has led to an increase in land and property prices in areas around Nairobi Metropolitan Region.

It is projected that by 2025 the population will be 176,191 translating to an annual population growth of 1.97%. According to the data from KNBS on the 2009 Census, the population of the larger Karuri area stood at 129,000 from the 2009 which is a 41.7% increase compared to the 1999 census. However, the on-going relaxation of zoning restrictions that is in line with strategic planning will allow for more comprehensive and high-density development of both residential and commercial properties. Ruaka was historically a rural shopping centre with the hinterland being utilized for agricultural purposes. The market study focused on properties built within the last 5 years along Limuru Road where Cytonn is developing The Alma. We widened our scope of research to include one-bedroom apartments, as well as increase the number of comparable developments. and potential total returns of more than 21% p.a.įollowing our market research on Ruaka in August 2015, highlighted in Cytonn Report #34, a supplementary study was conducted to reaffirm on the performance of the market in the last 6 months. Research by our Real Estate team shows that Ruaka developments deliver an average rental yield of 5.1% p.a. The town is close to Nairobi and has two prime commercial retail developments within its vicinity Two Rivers and the Rosslyn Riviera mall. Given Cytonns key focus towards providing middle income housing, this week we focus on Ruaka, which is an attractive real estate investment satellite town. We saw people in the satellite towns take on average 3 years or less to buy land, build and settle down. Cytonn Report #6 focused on Nairobi household settlement characteristics in the satellite towns around Nairobi.

Haven park ruaka