Nairobi — The price of beachside properties along the Kenyan coast continues to grow, with some locations recording more than 400 percent, a new report by Knight Frank has revealed.

According to Knight Frank's indicative data, beachside residential homes exhibit a remarkable variation in prices, influenced primarily by their proximity to major towns and urban centers.

Its CEO, Mark Dunford, asserted that the valuation of the coastal properties aligns with the ones in the capital, Nairobi.

"Mombasa contributes 4.9 percent to Kenya's GDP, versus Nairobi's 27.5 percent, but the desirability and strategic location of the Kenyan Coast makes it a property market that is as significant as the capital city," Dunford said.

"The values for its prime properties fully align with Nairobi valuations, and for those willing to move off the beaten track, there are some outstanding hidden gems along the coast," he added.

On his part, the organization's head of residential agency, Tarquin Gross, asserted that the coast remains rich with real estate opportunities.

"The coast remains a very stable market, with frequent opportunities for stunning properties and locations.

"Our sales data indicates that affordability increases, and buyers are increasingly willing to consider locations further from major towns, including fringe areas. This trend often results in more favorable pricing compared to prime, central locations," he said.

He emphasized that the coast remains a remarkably stable market, with ample opportunities for acquiring stunning properties in diverse locations.

Notably, buyers are increasingly inclined to explore areas further from urban hubs, lured by more favorable pricing and serene surroundings.

At the forefront of this price spectrum is Nyali Beach, commanding the highest prices for beachfront properties, with an approximate tag of Sh120 million for an unimproved acre.

However, even within the coastal region, significant disparities exist, as evidenced by recent sales in Diani Beach and Watamu, where similar beachfront estates sold for approximately Sh40 million per property, merely a fraction of Nyali's price point.

The data further elucidated how relatively small distances and limited local amenities can impact property prices significantly.