@BdAfrica

Kenya third most preferred property hub for super-rich - 13 Mar 2018 09:56

Annie Njanja

Kenya emerged the third most preferred real estate investment destination globally for the super-rich after the UK and the US in a 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). “The fact that Kenya is the top African investment destination of choice for HNWIs on the continent speaks volumes about the strength and growth potential of our property ...
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