Rental homes in Upperhill suffered reduced yields in 2017 as the area becomes a commercial hub. Increased supply in the old homes has forced landlords in the area to review rents downwards in order to stay competitive in the market. The report shows, Upperhill has remained the most expensive place to purchase land with an acre averaging at Sh551 million. Hassanali said Upperhill was largely oversupplied in commercial space adding that it would take a few years for businesses to take up the space. “The wait-and-see approach was prolonged by fears that it could extend and further put a break on activity in the land market.”

Source: The Star January 23, 2018 21:11 UTC