Westlands Apartment prices could drop by July 2018

Westlands ranks as one of the more exorbitant locations for investors to buy or rent real estate in Nairobi due to its lavish clout. The neighbourhood nearly compares with Upperhill, Kilimani, Parklands et cetera, all members of the upscale brotherhood. Price points notwithstanding, investors usually get value for their money hence the demand. Other times, in predictable or even unpredictable circumstances, the market conspires in favour of investors.

A recent report by datafintech  based on the number of online listings showed that 4-bedroom apartments in Westlands raked in returns of up to 11.64% over the past 12 months. Another study of the available online listings data recently showed that apartments in the same location are likely to drop in value by July of 2018.

According to the study, the projected average sales price for the July 2018 stands at Ksh.30.35m. This means that the average rent for 4-bedroom apartments in Westlands is expected to drop from Ksh.34.13m within the next 6-months by -5.58%.

The projected average rent price for July 2018 stands at Ksh.219,2206. This means that the average rent for 4-bedroom apartments in Westlands is expected to drop from Ksh.245,830 within the next 6 months by-34%. This could see strategic investors get some hedge over their investments.

The projections are given with a 95% confidence interval.

 

 

 

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