Kenya’s property market blossoms as wealthy investors ditch equities
Knight Frank CEO Mark Dunford during the residential property outlook roundtable by Absa Bank Kenya in partnership with Knight Frank at the Capitol Club on February 9, 2023.According to Knight Frank’s annual Wealth Report released on March 1, 2023, wealthy Kenyans ramped up investments in real estate. PHOTO | DIANA NGILA | NMG
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
Wealthy Kenyan investors plan to put a bigger proportion of their wealth in real estate this year compared to equities, which continue to rank low on their investment portfolios.
The 2023 Wealth Report by realtor Knight Frank published this past week shows that in 2022, investments in commercial property comprised up to 40 percent of rich Kenyans’ portfolios while stocks only accounted for 18 percent.
