FILE PHOTO | NMG 

Nairobi’s Gigiri suburb is home to the most expensive houses in the capital as Kitengela emerged as the least expensive neighbourhood in the three months to March, a new survey shows while also indicating that on average, property prices fell for the first time in over a decade.

The price guide is contained in a report by HassConsult Real Estate which shows that the home prices, on average, recorded a marginal drop of 0.02 percent compared to a rise of 3.3 percent in the same quarter last year.

HassConsult lists average house prices in Nyari estate at Sh103.6 million, making the neighbourhood the second most expensive in the city.

Similar to the higher sale prices, HassConsult said that Gigiri and Nyari now command the highest rents in the city, with an average house letting at Sh371,000 a month in Gigiri, Sh335,700 in Nyari and Sh321,100 in Runda and Kitisuru.

Satellite towns in Nairobi on the other hand command much lower house selling prices compared to the northern suburbs.