House prices in Nairobi’s affluent residential neighbourhoods have fallen by the largest margin for the first time in the three months to September, the latest Knight Frank report shows. According to the real estate services firm’s third quarter Prime Global Cities Index, prices of luxury homes in the city fell by 1.1 per cent between July and September. In the six months to September, prices dropped overall by 0.8 per cent. Luxury homes, coveted by high net-worth individuals, are estimated to cost from $1 million (Sh89.61 million). The price drops, which are a sharp contrast from records set...
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