Land prices in Nairobi now competing with gold: "The extent of price escalation is clear in Rongai, a busy suburb on the South West of Nairobi, where an acre of land is now priced at more than Sh14 million up from Sh765,000 six years ago — locking out many ambitious Kenyans from the homes market. Mr Ben Ongeri, 47, a public servant who bought land in Rongai and built a house seven years ago counts himself lucky to have bought the parcel at the right time. “I pity young men and women who are entering the labour market today wondering whether they will ever be able to own property in Nairobi at this rate of price escalation,” he said. Business Daily
Posted on: Mon, 26 Aug 2013 11:12:11 +0000
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