Kenya emerges as prime property hub for rich Africans

Kenya has emerged the third most preferred real estate investment destination globally for the super-rich after the UK and the US in a recent study that also shows that nearly a quarter of Africa’s rich have property locally.

According to Knight Frank’s Attitudes Survey, 24 per cent of Africa’s super rich own a property in Kenya, 33 and 67 per cent in the US and UK, respectively, making Kenya their top property destination in Africa.

This means that out of 22,970 ultra-rich Africans with a net-worth of more than Sh503 million, at least 5,512 have a property in Kenya.

The survey collected responses of 500 world’s leading private bankers and wealth advisers representing 50,000 clients with a cumulative wealth of $3 trillion (Sh303 trillion).

 

President Uhuru Kenyatta of Kenya

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