Nairobi is the only African city that made it to the list of top 45 global cities that posted growth last year, according to the latest Prime Global Cities Index by Knight Frank.
As reported by Business Insider, Nairobi was ranked 32nd, posting a 3.5 percent change in luxury residential prices in the period from the first quarter of 2021 to the first quarter of 2022. It also recorded a 2.4 percent change in six months from Q3 2021 to Q1 2022, and a 1.3 percent change between Q4 2021 and Q1 2022.
“This growth can be attributed to pent-up demand. After two years of the pandemic, as we entered Q4 2021 there was a sense of normalcy returning. I believe buyers’ sentiments to get on with life motivated their purchasing resumption plans. Also with the pandemic seemingly behind us, we witnessed many expatriates returning to Kenya,” said Tarquin Gross, Head of Residential Agency at Knight Frank Kenya.
Dubai, United Arab Emirates (UAE) had the fastest rising prime residential prices with a 58.9 percent change recorded in the past 12 months, and a 23.2 percent change in six months from the third quarter of 2021 to the first quarter of 2022. Miami (USA) Toronto (Canada) San Francisco (USA) and Los Angeles (USA) complete the top five positions.
The Prime Global Cities Index is a valuation-based index tracking the movement of prime luxury residential prices across 45 cities in the world using data from the Knight Frank research network. Knight Frank defines prime residential property as the most desirable and most expensive property in a given location, generally defined as the top five percent of each market by value.
Nairobi is great compared to…
Nairobi is great compared to many cities in the world, few people know this. Great weather all year round, no racism, fairly good roads, good cell and wifi network around the city, good business (need a decent capital though), fairly good healthcare, greenery, farmlands not too far away.
Generally Kenyans should appreciate the country more. Tanzania and Rwanda barely have freedom of speech.
So basically there is so much to appreciate than being keyboard warriors.
There’s no such thing as a…
There’s no such thing as a place with no racism. Where there are humans, there will be racism – there is definitely racism in Nairobi, it may not be rampant, but it is there.
…girls that don’t give a…
…girls that don’t give a hoot..eaay, cheap n ready. Kusema tu…
Which Nairobi is fake…
Which Nairobi is fake Collins Josh talking about?Which good healthcare and business are you talking about?Do you mean mortuaries for healthcare?Are you talking of business closures due to corruption,heavy taxation and lack of market/customers as good business?
The very idea of seeing…
The very idea of seeing people walking in Nairobi city streets under greenery trees is very therapeutic and for coffee drinkers like me, the aromatic smell of mocha coffee emanating from the many restaurants in the city is the best fun one can have with their clothes on. I cannot wait to return to the city where my umbilical cord is buried
Abnormally high land price…
Abnormally high land price with zero infrastructure is nothing to celebrate. If land was affordable ppl would have money left over to build decent housing. Stupefying revelers with propofol is now an economic activity. Muggings order of the day. Get it together in decent urban living.