Kenya emerged as a top location for home ownership beating the United Kingdom and Canada in a survey conducted among tycoons in Kenya.
The survey was conducted by Knight Frank Kenya among high-net-worth individuals (HNWI) who are classified as individuals with liquid assets of at least Ksh135 Million (USD 1 million).
Kenya emerged as the frontrunner, capturing 33 per cent of respondents’ preferences as the top choice for first home ownership.
Canada followed closely at 21 per cent, positioning itself as the second most favoured destination.
Finally, the UK secured the third spot with a 20 per cent preference rate for first-choice home ownership.
While reviewing the preference for second-home choices, Kenya still maintained first place, this time tying with South Africa and the UK at a 14.5 per cent rate.
However, when it came to a third-home option Kenyan tycoons opted to have one in the UK as it claimed the top spot purchase, commanding a 25 per cent preference.
Kenya came in as a close second with a 16 per cent preference rate followed by Germany which emerged as a distant third choice, capturing 8 per cent of respondents’ preferences.
Remarkably Kenya was chosen across all three options underscoring its significance as the preferred location for new home purchases among Kenyan HNWIs.
Notably, this trend reflects a renewed confidence in the country’s economic, social, and political landscape.
The report further explained that tycoons had shifted their investment options, preferring to invest in art and whiskey.
According to the report, 71.3 per cent of tycoons made investments in the art sector. This was an over 10 per cent increase from the figures recorded in the 2023 report.
