Nairobi: The Hottest Luxury Property on Earth

The Nairobi Skyline at Night

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.

PIRI Index Graph by Knight Frank

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.

Read the full Knight Frank Prime International Property Index

Do you think your city is hot property? What do you think that will mean for the property markets in Kenya…

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One thought on “Nairobi: The Hottest Luxury Property on Earth

  1. The question is, hos sustainable is it for Nairobi to retain this position…considering the strain on basic property infrastructure like sewer lines, power and an old and un-updated physical plan set in the 70’s…………we all saw what happened in Syokimau…. hence my question on sustainability and the short and long-term of this….. or will the bubble burst? How will the new system of government affect this growth….counties and all…….

    Interesting brief I must say!

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