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Insightful take on Nairobi Real Estate
Rank: Veteran Joined: 11/13/2015 Posts: 1,653
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Quote:Westlands suburb showing the strongest performance over the year with prices in the area improving by 7.9 per cent as it undergoes the “rediscovery” phase of the urban regeneration cycle - a result of high income earners moving back to neighborhoods more central to the city
Westlands area is additionally undergoing the “rediscovery” phase of the urban regeneration cycle which is the result of high income earners moving back to neighborhoods that had previously seen an exodus of these tier of residents.
“Classically, in urban markets, areas that are initially populated by high-income earners are often, over time, developed in ways that lead to a shift in the mix of the population, with middle income earners beginning to move into the area. This can cause flight by the elite, to the next upmarket beauty spot. As the high-end residents vacate, property becomes further developed, often at higher density, and the area will see an influx of lower income earners. This takes the cycle on a further stage, as middle-income earners also seek to relocate. Finally a younger generation of middle income earners comes to develop this area making it get 'rediscovered',” added Ms. Hassanali
Quote:Westlands' performance is benefiting from the area becoming a melting pot for international hotel brands setting up in the area as they seek to tap into Nairobi's growing market for Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism. The increased growth of MICE tourism is trickling down to the apartment, detached and semi-detached housing market in the Westlands suburb as some visitors opt to stay in serviced apartments or houses that are in close vicinity to the hotels where major conferences are taking place. From Hassconsult Q3 index report. I can confirm
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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wukan wrote:Quote:Westlands suburb showing the strongest performance over the year with prices in the area improving by 7.9 per cent as it undergoes the “rediscovery” phase of the urban regeneration cycle - a result of high income earners moving back to neighborhoods more central to the city
Westlands area is additionally undergoing the “rediscovery” phase of the urban regeneration cycle which is the result of high income earners moving back to neighborhoods that had previously seen an exodus of these tier of residents.
“Classically, in urban markets, areas that are initially populated by high-income earners are often, over time, developed in ways that lead to a shift in the mix of the population, with middle income earners beginning to move into the area. This can cause flight by the elite, to the next upmarket beauty spot. As the high-end residents vacate, property becomes further developed, often at higher density, and the area will see an influx of lower income earners. This takes the cycle on a further stage, as middle-income earners also seek to relocate. Finally a younger generation of middle income earners comes to develop this area making it get 'rediscovered',” added Ms. Hassanali
Quote:Westlands' performance is benefiting from the area becoming a melting pot for international hotel brands setting up in the area as they seek to tap into Nairobi's growing market for Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism. The increased growth of MICE tourism is trickling down to the apartment, detached and semi-detached housing market in the Westlands suburb as some visitors opt to stay in serviced apartments or houses that are in close vicinity to the hotels where major conferences are taking place. From Hassconsult Q3 index report. I can confirm Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,653
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MugundaMan wrote:Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo. I was on Kirinyaga road just the other day behind that road the area where the grogan mechanics operate there is some huge building coming up there must be like over 10 floors. I was shocked to see that kind of investment in that area. Some investors are clearly seeing the potential of that area. Further up the road the chinese are doing some serious road construction for their ngara project.
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Rank: New-farer Joined: 9/4/2018 Posts: 64 Location: Nairobi
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wukan wrote:MugundaMan wrote:Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo. I was on Kirinyaga road just the other day behind that road the area where the grogan mechanics operate there is some huge building coming up there must be like over 10 floors. I was shocked to see that kind of investment in that area. Some investors are clearly seeing the potential of that area. Further up the road the chinese are doing some serious road construction for their ngara project. Where where Wukan?is this office space or lodging? The high-rise on kirinyaga road? Interesting...
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Rank: Veteran Joined: 11/13/2015 Posts: 1,653
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Kate_Mbarire wrote:wukan wrote:MugundaMan wrote:Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo. I was on Kirinyaga road just the other day behind that road the area where the grogan mechanics operate there is some huge building coming up there must be like over 10 floors. I was shocked to see that kind of investment in that area. Some investors are clearly seeing the potential of that area. Further up the road the chinese are doing some serious road construction for their ngara project. Where where Wukan?is this office space or lodging? The high-rise on kirinyaga road? Interesting... It's a shithole street full of garbage, auto spares shops and mechanics I think it's called lower kirinyaga road. I had taken my jalopy for repairs and got to walk the streets. I was just surprised to see a high rise coming up there.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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wukan wrote:MugundaMan wrote:Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo. I was on Kirinyaga road just the other day behind that road the area where the grogan mechanics operate there is some huge building coming up there must be like over 10 floors. I was shocked to see that kind of investment in that area. Some investors are clearly seeing the potential of that area. Further up the road the chinese are doing some serious road construction for their ngara project. The problem with investing in a down at the heels area is that particular strategy is built on the developer's HOPE alone, which IMHO is not a good basis upon which to invest. Some areas just have a bad "taste" in the mouths of the average Kenyan. If you say for example you are going to put a luxury highrise in the middle of Dandora dumpsite, someone may think you have been smoking some bad bangi mbichi.
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Rank: Veteran Joined: 7/8/2008 Posts: 947
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MugundaMan wrote:wukan wrote:MugundaMan wrote:Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo. I was on Kirinyaga road just the other day behind that road the area where the grogan mechanics operate there is some huge building coming up there must be like over 10 floors. I was shocked to see that kind of investment in that area. Some investors are clearly seeing the potential of that area. Further up the road the chinese are doing some serious road construction for their ngara project. The problem with investing in a down at the heels area is that particular strategy is built on the developer's HOPE alone, which IMHO is not a good basis upon which to invest. Some areas just have a bad "taste" in the mouths of the average Kenyan. If you say for example you are going to put a luxury highrise in the middle of Dandora dumpsite, someone may think you have been smoking some bad bangi mbichi. Wewe wachana na bhangi. Use delusions of granduer as the excuse. Kirinyaga road is prime for redicovery. It is next to a dirty river that can be cleaned up. That part of nairobi river even has a part ... I think it called michuki park. Once the mechanics are kicked out... eventuality this place will blow up. Right now the are has several AirBnB for some studios and they look very busy. @Mugundaman for some so pro property I don't understand why you can't see the current ability and future potential of Kirinyaga road. I can easily see this place becoming a Nairobi "canary wharf"
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Rank: New-farer Joined: 9/4/2018 Posts: 64 Location: Nairobi
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wukan wrote:Kate_Mbarire wrote:wukan wrote:MugundaMan wrote:Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo. I was on Kirinyaga road just the other day behind that road the area where the grogan mechanics operate there is some huge building coming up there must be like over 10 floors. I was shocked to see that kind of investment in that area. Some investors are clearly seeing the potential of that area. Further up the road the chinese are doing some serious road construction for their ngara project. Where where Wukan?is this office space or lodging? The high-rise on kirinyaga road? Interesting... It's a shithole street full of garbage, auto spares shops and mechanics I think it's called lower kirinyaga road. I had taken my jalopy for repairs and got to walk the streets. I was just surprised to see a high rise coming up there. Wukan if these are bedsitters I want!you can't go wrong here...kirinyaga road is for the masses.You can get short term visitors to rent out who may not afford a stay in the big hotels but need somewhere close to places they can go for meetings etc.Will take a walk there one afternoon this week
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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tony stark wrote:MugundaMan wrote:wukan wrote:MugundaMan wrote:Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo. I was on Kirinyaga road just the other day behind that road the area where the grogan mechanics operate there is some huge building coming up there must be like over 10 floors. I was shocked to see that kind of investment in that area. Some investors are clearly seeing the potential of that area. Further up the road the chinese are doing some serious road construction for their ngara project. The problem with investing in a down at the heels area is that particular strategy is built on the developer's HOPE alone, which IMHO is not a good basis upon which to invest. Some areas just have a bad "taste" in the mouths of the average Kenyan. If you say for example you are going to put a luxury highrise in the middle of Dandora dumpsite, someone may think you have been smoking some bad bangi mbichi. Wewe wachana na bhangi. Use delusions of granduer as the excuse. Kirinyaga road is prime for redicovery. It is next to a dirty river that can be cleaned up. That part of nairobi river even has a part ... I think it called michuki park. Once the mechanics are kicked out... eventuality this place will blow up. Right now the are has several AirBnB for some studios and they look very busy. @Mugundaman for some so pro property I don't understand why you can't see the current ability and future potential of Kirinyaga road. I can easily see this place becoming a Nairobi "canary wharf" Very ironic @Mugandaman can see potential in dustbowl but not in Kirinyaga road which is in the CBD.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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tony stark wrote:MugundaMan wrote:wukan wrote:MugundaMan wrote:Na Kirinyaga Rd je? Westlands an acre is going for easily 300 metre and above. The "average non-corrupt Joe" under 45 cannot obviously afford that, so it is a waste of time to preach the glories of Westlands on Wazoo. I was on Kirinyaga road just the other day behind that road the area where the grogan mechanics operate there is some huge building coming up there must be like over 10 floors. I was shocked to see that kind of investment in that area. Some investors are clearly seeing the potential of that area. Further up the road the chinese are doing some serious road construction for their ngara project. The problem with investing in a down at the heels area is that particular strategy is built on the developer's HOPE alone, which IMHO is not a good basis upon which to invest. Some areas just have a bad "taste" in the mouths of the average Kenyan. If you say for example you are going to put a luxury highrise in the middle of Dandora dumpsite, someone may think you have been smoking some bad bangi mbichi. Wewe wachana na bhangi. Use delusions of granduer as the excuse. Kirinyaga road is prime for redicovery. It is next to a dirty river that can be cleaned up. That part of nairobi river even has a part ... I think it called michuki park. Once the mechanics are kicked out... eventuality this place will blow up. Right now the are has several AirBnB for some studios and they look very busy. @Mugundaman for some so pro property I don't understand why you can't see the current ability and future potential of Kirinyaga road. I can easily see this place becoming a Nairobi "canary wharf" Don't get me wrong, I am not knocking Kirinyaga road. I am just knocking the idea of Wukan's idea of luxury bedsitters on Kirinyaga road as it is The guy said he does not do Githurai 44 type typical Kenyan bedsitters but will do the high end New York style massive studio apartments (his idea of a bedsitter). Imagine forking 150k a month for a ka-one room with view like below. Haiwesekani jameni. Now those are the real delusions of grandeur from bangi mbichi!  Fix the basic garbage collection, river pollution sewerage and clutter. I hope you are also joking that Kirinyaga rd can become Canary Wharf  . Maybe only if the entire street is torn down to crumbs. https://www.nation.co.ke...5564-34tfysz/index.html

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