Cytonn: Limuru Road, Karen give best yields for property investments - 3 months ago, 19 Nov 10:29
Mixed-use developments along Limuru Road and in Karen are the best performing in Nairobi, with rental yields of 9.6 per cent and 9.4 per cent respectively, according to a report by research and investment firm Cytonn.
Such developments encompass office, retail and residential themes, and normally give an average rental yield of 8.0 per cent.
According to the latest analysis presented by The Cytonn Weekly, high-end neighbourhoods such as Karen, Runda, Rosslyn, Kitisuru among others, that host Nairobi’s middle and upper class populations, are responsible for the impressive performance of these areas.
The residents have a higher purchasing power and are willing to pay a premium for class and amenities provided, said Patricia Wachira, a senior research analyst at Cytonn Investments.
The Cytonn Weekly also noted that areas characterised by traffic congestion and low-income populations with low purchasing power, such as Mombasa Road and Eastlands, are the ...
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