Report finds Nairobi's office rent among the cheapest in Africa

Nairobi is ranked among the cities with the lowest office rent rates in Africa according to a new report. This is despite other recent reports indicating an upward trend in the cost of office rents in the city. The survey by Knight Frank titled, ‘Africa Commercial Occupier Guide,’ published in the Knight Frank Africa Report 2015 shows the city still ranks below 16 other major cities in the continent with lower office rent.

The survey shows that in 2014, office rent in Nairobi averaged $21 (2,030) per square metre a month, while retail and industrial space rent averaged $48 (4,600) and $$4.20 (Sh403) per square metre per month respectively. Nairobi faired on well when compared to other cities such as Luanda in Angola, Lagos in Nigeria, Malabo in Equatorial Guinea, and Libreville in Gabon. Luanda’s rates average $150 (Sh4,800) per square metre per month for office space, $120 (Sh11,520) for retail and $21 (Sh2,016) for industrial property, is ranked as the most expensive in Africa for commercial and residential rents.