If you thought the hottest (luxury) properties on the planet currently are found in either Dubai, Miami, Paris or London then think again.
Global real estate magnate Knight Frank, released their latest global markets and properties wrap up report, the Prime International Residential Index, on the 28th of March 2012, and on it they featured the world’s property hotspots: where prices had jumped significantly through the previous year.
At the top of the list, would you believe it, were our very own Kenyan capital, Nairobi (25% positive growth) and the Kenyan coast in second place (20% positive growth). Kenya beat giants Miami, London, Bali and even the Chinese capital, Beijing.
But what does this mean you may ask: just that the world really is becoming a global village and Kenya isn’t far behind being the millionaires playground. With the Italians secondarily colonizing towns like Malindi and Lamu, and the British still in a romantic affair with the central Kenyan highlands, the Chinese aren’t far behind as they infiltrate our fair land with development projects.
The fact that we may also be potentially oil wealthy as of last month may cause the region to feature more prominently in the next report.
Do you think your city is hot property? What do you think that will mean for the property markets in Kenya…