Karen is a suburb located in Nairobi, the capital city of Kenya. It is named after Karen Blixen, a Danish author who lived in the area between 1914 and 1931 and wrote the memoir “Out of Africa” which was later adapted into a film. Karen is known for its lush greenery, quiet neighborhoods, and large homes on expansive properties. It is also home to many restaurants, cafes, and cultural attractions such as the Karen Blixen Museum and the Giraffe Centre.
Karen is generally considered a desirable and upscale neighborhood to live in in Nairobi. It is known for its spacious and well-manicured properties, tree-lined streets, and tranquil surroundings. The area is relatively safe and has a low crime rate compared to other parts of Nairobi. Karen also has a good selection of international schools, shopping centers, restaurants, and recreational facilities.
Overall, Karen is a popular choice among ex-pats and wealthy locals, and many people find it to be a great place to live in Nairobi.
Is it a good idea to buy land in Karen for investment? For sure it is, the appreciation rate of land in Karen has been promising over the past years. This appreciation varies depending on various factors such as location, property size, property type, market trends, and economic conditions. Over the past few years, property prices in Karen have generally appreciated due to the area’s growing popularity and limited supply of land. However, it’s difficult to provide an exact appreciation rate as it can vary significantly.
Real estate market reports suggest that the average price of a 1-acre piece of land in Karen has increased from about Kshs 30 million in 2015 to Kshs 70 million in 2021, indicating an appreciation rate of approximately 12.4% per annum. However, it’s worth noting that these figures are just an estimate and may not reflect the actual appreciation rate of all properties in the area.
It’s always advisable to conduct thorough research and seek professional advice before making any real estate investment decisions.