Property prices in some of the upscale Nairobi estates, including Upper Hill, have fallen, signaling a slowdown in the high-end housing market.
The Hass Property Index Q3 2025 report shows that apartment prices in Upper Hill dropped by 2.6% in the third quarter of, while Westlands recorded a steeper 13.2% annual decline.
This comes even as the overall property market grew modestly by 1.1% between June and September 2025, taking the annual increase to 8.2%.
Prices Fall in High-End Nairobi Estates
According to HassConsult, the drop in prices across high-end estates is linked to reduced demand from investors and buyers facing financial pressure
“All segments of the market delivered sales price growth in the third quarter, reflecting the market’s solid foundation in cash-driven demand, but it was a subdued quarter of demand overall as middle-class incomes remained under pressure,” read part of the HassConsult report.
The report further shows that houses in Muthaiga declined by 8.1% over the year, confirming a general slowdown in Nairobi’s luxury property segment.
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Meanwhile, semi-detached houses and apartments in middle-income areas maintained stable prices, suggesting steady demand among average earners.
Where Property Prices Rose
In contrast, several satellite towns and suburban estates recorded strong price gains during the same period.
Athi River led with a 4.3% quarterly rise, followed by Ruiru and Tigoni, which saw annual increases of 8.9% and 8.2%, respectively.
The report attributes this growth to increasing demand from young professionals and families seeking affordable homes near Nairobi.
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“The surge in detached house buying was area-specific, with prices continuing to rise significantly in Runda, Ridgeways, Lavington, Karen, and Muthaiga suburbs, and in the Athi River, Ruiru, Tigoni, Juja, and Kiserian satellite towns,” the report stated.
Market Remains Location-Driven
The study highlights a growing movement of homebuyers and investors toward more affordable areas and satellite towns.
Overall, the Hass Property Index Q3 2025 paints a picture of a location-driven market, with some areas continuing to record growth while others are in a downturn.
Upper Hill, Westlands, and Muthaiga are among the estates experiencing declining values as investors opt for lower-cost locations.
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