Nairobi, Aug. 4 -- A decades-long property boom on the outskirts of Nairobi, including Kiambu, Kitengela and Ngong, is coming to an end as home prices drop and land costs soften.

HassConsult, a property agency which compiles a quarterly property index, says that house prices in the satellite towns have dropped in the past two quarters to June, while land cost grew 1.4 percent - the slowest in eight years.

This is a departure from a market structure that saw housing and property prices on the outskirts of Nairobi rise annually in double digits over a period of nearly two decades since 2002.

Housing had been one of Kenya's fastest-growing sectors in the decade to 2019, with returns from real estate outpacing equities and government secur...