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Kenya, the home of Africa’s super-rich - 9 Mar 2018 00:14

Macharia Kamau

Kenya has been ranked the property market of choice for the continent’s super-rich. According to the Wealth Report 2018 by Knight Frank, nearly a quarter (24 per cent) of the ultra-wealthy Africans own property in the country and plan to increase their portfolio. Overall, Kenya ranks third as the most preferred real estate investment destination by high-net-worth individuals from Africa, behind the UK, which ranks first with 67 per cent of the wealthy Africans owning property there, and the US (33 per cent) in the second position. In Africa, however, Kenya is the top destination ahead of countries such as South Africa, which was ranked fourth. “South Africa is the fourth favourite property investment location for Africa’s super-rich at nine per cent. In total, four per cent of the world’s super-rich already own property investments in Kenya led by African, North American, Europeans, and Asian HNWIs (high-net-worth individuals),” says the ...
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