Nairobi’s Karen suburb offers the lowest price for an acre of land among high-end estates, a new real estate report has shown.

The average price per acre of land in Karen going for Sh52 million against a market average of Sh87 million for an acre.

Land in Nairobi’s reclusive Spring Valley is the most expensive followed by Nyari, an estate located along Limuru Road and which borders Muthaiga and Runda.

In Ridgeways an acre goes for Sh68 million, Spring Valley (Sh154 million), Kitisuru (Sh70 million), Runda (Sh68 million), and Nyari (Sh109 million).

Knight Frank Kenya managing director Ben Woodhams, while contributing to the report said that from the early 2000s, growth was rapid in Karen, with many of the original five- and ten-acre plots developing into modern housing clusters with shared amenities such as club houses, gyms and swimming pools.

“This period saw land prices soar from Sh2.3 million per acre to their current levels of over Sh50 million per acre, where they have now stabilised,” says Mr. Woodhams.

“The market for these town-houses has become somewhat saturated, with a subsequent plateauing of both house prices and land values