Investors cautious as Upper Hill land prices dip five years in row

View of upper hill tall buildings seen from Westlands aerial view. [David Gichuru, Standard]

Land prices in Nairobi's Upper Hill area dropped yet again, sustaining a trend since July 2018, HassConsult said in its Land Price Index Quarter Three (Q3) report.

Oversupply of commercial space in the area has seen developers shy away from investing in new space, a "wait-and-see" attitude as they wait for units in the suburb to get sold and vacancy levels to improve.