Italians Top List of Foreign Buyers for Kenyan Prime Estates

Tigoni, nested in the nearby County of Kiambu, has also seen a major influx of external buyerRich Italians top the list of high-net-worth people buying Kenya’s premium estates. Second on the list is the Dutch followed by Belgians, New Zealanders, Americans and French nationals. 

Kenya’s Prime Residential Estates Allure

Kenya has seen an increase in international interest as its real estate market matures and becomes more robust and attractive to investors. As the real estate market has soared, regional and foreign players have also poured money into upscale retail and office facilities. New commercial districts have popped up in Nairobi as Kenya positions itself as a regional financial powerhouse.

According to recent research by real estate experts Knight Frank, the global super-rich are streaming into Kenya to scoop up prime residential estates starting at KSh 80 million. Approximately 5% of the ultra-wealthy in Uganda, Tanzania, Nigeria, Ghana, Switzerland, France, Canada and Lebanon are interested in the coveted homes. 

The majority of these prime locations are in gated communities, close to areas with preparatory schools, an attractive way of life and enhanced security.

The beach town of Malindi, which has one of the highest concentrations of foreign residents and investors in Kenya, is among the towns that has over the years drawn Italians.

Apart from the Coast, Nairobi, in neighborhoods such as  Karen, Rosslyn, Muthaiga, Runda, and Nyari, are additional suburbs where foreigners are purchasing prime residential properties. s.

According to the current Knight Frank Kenya Market Report, high-end residences in Kenya saw an average 3.77 %  price increase in 2022, marking the second consecutive year of steady appreciation. The wealth survey also named Kenya as one of the world’s  top real estate investment destinations alongside France, Spain, Italy, and the United Kingdom.

Kenya’s Economy

Kenya is frequently described as an African economic bright spot, with a diverse economy that is not adversely subject to the volatility global commodity prices. High remittance inflows, a revival in the tourist sector, and a thriving technology sector, continue to steadily drive the economy. Government spending on ambitious infrastructure projects, including a $3.2 billion train line and the marquee  Nairobi expressway, are also fueling the economy’s vibrancy and in-turn, boosting property values.

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