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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
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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.

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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.

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

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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

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Quarter % change: 2.4

8. Gigiri (Ksh 225,600,000)

Annual % change: 0.4

Quarter % change: -1.9

7. Lavington (Ksh 234,200,000)

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Annual % change: 0.0

Quarter % change: -0.4

6. Eastleigh (Ksh 282,400,000)

Annual % change: 7.7

Quarter % change: -0.7

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5. Kileleshwa (Ksh 288,500,000)

Annual % change: 0.0

Quarter % change: 0.3

4. Parklands (Ksh 414,000,000)

Annual % change: 1.5

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Quarter % change: 0.9

3. Westlands (Ksh 415,000,000)

Annual % change: 2.5

Quarter % change: -0.6

2. Kilimani (Ksh 442,900,000)

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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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