A section of Donholm Estate in a file photoCovid 19 Time SeriesHouses in Nairobi's Donholm Estate recorded the biggest quarterly drop in rental prices at 4.8 per cent, a quarterly survey by HassConsult shows. The second quarter of the year survey shows a downward pressure on rents as COVID-19 pandemic slashes disposable income. According to the survey close to half of tenants reached out to asked for rent discounts of between 25 and 30 per cent. Donholm suburb recorded the biggest quarterly drop in rents for houses at 4.8 percent while on an annual basis Kitisuru led the pack with rents reducing by 7.7 percent. Property prices remain stable as most sellers, presumably those without any urgent cash flow requirements, are avoiding making rash decisions that will cost them in the long run.” said Hassanali.

Source: Standard Digital August 11, 2020 11:37 UTC