Ridgeways, South B, and South C were the highest yielding real estate areas in Nairobi in the third quarter of 2020 posting average rental yields of 5.4%, 5.2%, and 5.2% respectively as per the Cytonn Q3’2020 Markets Review.
The three areas located in the Capital also posted total returns of 8.4%, 6.4% and 6.4% respectively, the report shows.
During the period under review, the real estate sector recorded a decline in transactions and a decline in annual uptake of residential units from 18.6% in the first half of 2020 to 17.9%, while the commercial office sector registered a decline in occupancy rates from 80.3% to 79.9%, attributed to the ongoing pandemic.
