By Judith Gicobi
The average daily cost of renting a property in Nairobi through the short-term house rental platform Airbnb has risen 22.5 percent to $49 in the last 11 months (Sh5, 652).
According to statistics from vacation rental research firm AirDNA, daily prices have increased from $40 (Sh4, 592) in May last year.
The costs are made up of the average cost of nightly reservations + cleaning fees.
The increase reflects greater travel and spending by Kenyans and foreigners as the global economy improves and the Covid-19 restrictions on migration are lifted.
The majority of the Airbnb listings are in middle-class areas, such as Kileleshwa, Westlands, Lavington, Kilimani, Yaya, and Valley Arcade.
As more investors enter the market, competition for visitors is projected to increase in the near future.