In a major win for the East African union, a new global real estate report has ranked Kenya's property market as the top performer worldwide, surpassing eight other major economies, including the United States, Europe, and Australia.
The findings, highlighted in a special report by Hassconsult, show that the return on investment in Kenya's housing market has appreciated at a faster rate than any of its international competitors.
The report attributes Kenya's stellar performance to several key factors that have fueled a robust and resilient real estate sector.
A rapidly growing urban population, coupled with ongoing infrastructure development, has created a sustained and high demand for both residential and commercial properties.
Despite periods of economic instability, the country's property market has continued to deliver strong returns for investors.
Analysts point to the continued recognition of Nairobi as a regional business and investment hub, which has attracted both local and international investors.
The government's push for affordable housing and the emergence of mixed-use developments have also been significant drivers of growth.
These initiatives, along with a high demand for high-quality commercial and residential spaces, have contributed to a vibrant market.
This impressive ranking confirms a long-term trend of growth and stability in the Kenyan real estate sector.
The latest data indicates that the sector's contribution to the country's Gross Domestic Product (GDP) has remained strong, averaging close to 9%.
This consistent performance, coupled with attractive rental yields and capital appreciation, has made Kenya a prime destination for real estate investment.
The report also highlights a growing interest from high-net-worth individuals globally, who are increasingly looking to Kenya for second homes.
This influx of foreign capital, combined with a dynamic domestic market, has solidified Kenya's position as a top-tier destination for real estate investment, proving that the country can compete and win on the global stage.
