The Kenya Bankers Association published the first Housing Price Index report for January 2020. The report indicates that the housing market has remained depressed, with prices remaining in the negative territory for the 4th consecutive quarter. House prices have also contracted by 0.61 percent in this quarter compared by 2.28 percent in the previous quarter. This trend, according to the report, is ‘is in line with the softening of the economy and is a manifestation of the interplay between weak demand driven by the tepid disposable income growth and supply-side conditions.’
Market trends are varied from region to region, and depending on house type. Apartments have continued to dominate the market, particularly in the top end of the market.
Click here to access older HPI reports.House Prices Stuck in the Red