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It will cost you over $5 million to buy an acre of land in Kenya

Upperhill tops the list with an acre of land going for a staggering Ksh551 million

Land prices in Nairobi last year grew at the slowest pace in a decade owing to the protracted election period and lack of access to credit.

Nairobi suburbs recorded a 3.32 per cent annual growth in asking prices, a clear indication that the value of land is no longer immune to political risk, having previously been seen as a safe haven investment whenever there was political or economic uncertainty.

Even then, land still posted a positive return but prices were flattening towards the end of the year.

Business Insider SSA takes a look at some of the most expensive areas to buy land in the capital courtesy of Realtor HassConsult's 2017 quarter four price index report.

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Also included are the annual and quarterly changes in land prices for the listed suburbs:

10. Muthaiga (Ksh 146,800,000)

Annual % change: 11.0

Quarter % change: 5.4

9. Spring Valley (Ksh 162,100,000)

Annual % change: 7.2

Quarter % change: 2.4

8. Gigiri (Ksh 225,600,000)

Annual % change: 0.4

Quarter % change: -1.9

7. Lavington (Ksh 234,200,000)

Annual % change: 0.0

Quarter % change: -0.4

6. Eastleigh (Ksh 282,400,000)

Annual % change: 7.7

Quarter % change: -0.7

5. Kileleshwa (Ksh 288,500,000)

Annual % change: 0.0

Quarter % change: 0.3

4. Parklands (Ksh 414,000,000)

Annual % change: 1.5

Quarter % change: 0.9

3. Westlands (Ksh 415,000,000)

Annual % change: 2.5

Quarter % change: -0.6

2. Kilimani (Ksh 442,900,000)

Annual % change: 3.6

Quarter % change: 1.2

1. Upperhill (Ksh 551,000,000)

Annual % change: 2.6

Quarter % change: 1.4

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