Kenya Poised for Economic Recovery as Property Market Strengthens
Global real estate consultant Knight Frank is predicting an increase in property investment in Kenya during 2018 as the economy begins to gain momentum. In its recently released report, Inside View Kenya, Knight Frank revealed that transactional activity in sales is expected to pick up, with both Nairobi and Mombasa attracting interest from local and international buyers. Ben Woodhams, managing director at Knight Frank Kenya, said: “Kenya has a long-standing reputation as a destination for holiday home ownership, and with the political turbulence behind us, we are forecasting an increase in such investments in line with a strong economic recovery in 2018. He added: “Among factors making Kenya an ideal investment destination include a projected 5.8% GDP growth rate in 2018, rapid urbanisation at 4.3% per annum versus a global average of 2.0%, an expanding middle class, and positive demographics such as high population growth at 2.6% annually against Sub-Saharan Africa’s averag