World's Super-Rich Individuals Eye Property in Nairobi

World's Super-Rich Individuals Eye Property in Nairobi

The world's super-rich individuals are looking to own property in Kenyan capital Nairobi, a new report shows.

Dubbed Inside View Kenya 2018, the report prepared by Knight and Frank shows that Nairobi is on the radar of several High Net Worth Investors (HNWIs) from across the globe.

4 percent of the global HNWIs, the report says, are eying property in Nairobi with British upper-class leading the pack of foreigners looking to acquire property in the country. 63 percent of United Kingdom HNWIs population have expressed interest of owning property in the Kenya's biggest city.

South African HNWIs are second (16 percent) while 11percent of deep-pocketed individuals from Spain, Mauritian and United States are seeking to invest in homes in Nairobi.

5 percent of super-rich people from Uganda, Tanzania, Nigeria, Ghana, Switzerland, France, Canada and Lebanon have shown interests in buying property in the Kenyan capital city.

The interest is highly driven by Kenya’s projected 5.8 percent growth in GDP which is significantly above Sub-Sahara Africa’s projected growth rate of 3.5%.

“New construction of prime residential properties is continuing apace in Nairobi and the abundance of supply ensures availability for those seeking bargains. However, affordability remains an issue for the local market with much of the stock being beyond the means of most people,” reads the report.

Comments

Diana (not verified)     Wed, 09/12/2018 @ 06:48pm

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Correction: World Super IDIOTS are eyeing inflated property built on riparian land, road reserve and grabbed public land in Kenya.

Anonymous UI (not verified)     Wed, 09/12/2018 @ 11:08pm

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Let Kenyans remember history. There is a old book entitled "Kenya, The White Man's Country". Kenyans be ware of second colonization in the name of investment and investors. Kenyans wake up. Our names were taken in the name of Christianity; Our language's were taken in the name of a superior language; Our land was taken in the name of someone civilizing us. Kenya cannot accomodate all these people unless there is a hidden agenda of reducing our population in some funny manner. God help Kenya!!!

Mutuura wa Kibuu (not verified)     Thu, 09/13/2018 @ 07:27am

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Are you kidding? Who in their right mind would want to or even imagine investing in Kenya at a time when government issued titles mean nothing, government issued permits to build mean nothing, court orders mean nothing, destruction of property and livelihoods means nothing.......or maybe this is just another bit of fake news??

Mkenya halisi (not verified)     Thu, 09/13/2018 @ 07:58am

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This foreigners r welcome to invest hapa nyumbani.Diaspora Black kenyans I told u guys to invest home where yr property is beta off going up n up than in majuu n it’s home.Please if u have cash buy appartments around kangemi uthiru mountain view uthiru going up mpaka limuru juu Nairobi is heading that way n 3 bd appartments is btw 7.5m n up n within 5 years especially when that Uhuru Highway expansion is finished u will b smiling all the way to the bank.Uhuru Highway is currently bin expanded from 2lanes currently on each side to 6 on each side.N kuna Highway also from Abc to Jkia itapitia juu express 100km mpaka inside Jkia.

Mkenya halisi (not verified)     Thu, 09/13/2018 @ 10:34pm

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@Anos yeah it’s starting soon n the designs r out.Check Uhuru Highway to jkia kenya on google.Uhuru just got private public partnership deal from China but festability all finished.Expansion of waiyaki way to Rironi is going well.Some of us who bot before eastern bypass started r very lucky juu 100/100 we had bot for 350k today it’s 7million if u r luck to find one.Another western bypass is passing through pale muguga site to kabuku to ruaka buy those sides too n wait juu zinaanza next year.Guys msiseme I didn’t tell you.

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