Upperhill land most expensive at Sh470 million an acre, report shows

An aerial view of Nairobi. [PHOTO: WILBERFORCE OKWIRI/STANDARD]

NAIROBI: Land in Nairobi has appreciated in value five-fold in seven years, outperforming all other investment classes according to a new survey done by two agencies.

Property firm Hass Consult and Stanlib Investment Managers found that an acre of land in Nairobi is selling for Sh173.7 million on average, up from Sh32.4 million in 2007.