, Who buys there? Or rather what are the attractions to this location?

At least the upper hill plot is commercial and you can put a sky scraper or block of apartments. But that one-eighth plot near balozi is residential meaning you can put up only one maisonette on it.

some of these prices are just waaay unrealistic.

It will never happen in kenya since most are paid by cash, if it was loans the bubble could have bursted years ago. Properties prices in kenya are more expensive than in western countries. The problem in kenya is people just buy anything without thinking of returns.

@african coloner..
problem in Kenya is that no matter how much Kenyans are pushed to the wall, they continue taking it without seeking for solutions-mostly middle class.

Low and High class citizens tend to do something about it.

Low class get allocated land by Govt e.g IDPs, settlement schemes while High Class lobby for laws favoring them in parliament.

The middle class is left to take all the hit without any opposition.

True, property value in .Ke is more than Western Capitals. Land in Beijing and Newyork is same value/slightly higher than upper hill/CBD.

My prediction is that the situation will remain the same with crazy land value increase for 15 to 20years .

This will stop when Kenyans will have benefited from the free primary education in such a critical mass that they can craft out solutions for themselves e.g South American Countries.

Until then, it will be a matter of since i can afford, then its not my problem.


@ maichblack..
already with the increase in interest rates, so many Kenyans cant sustain the payments-as usual,the attitude is since its not a majority problem, they can continue suffering...until it hits a critical mass of population is when something will be done to it.