A market update report by Knight Frank, a global real estate consultancy firm, has highlighted Kitisuru among the most preferred residential destinations by rich people living in Kenya.
According to the survey report published on Wednesday, August 20, other residential estates that have also gained traction among the rich are Karen, Kitisuru, Loresho, Spring Valley and Lavington.
The report attributed the growing preference for the aforementioned estates to their exclusivity, security, controlled development, and superior accessibility through the Nairobi expressway.
However, the real estate company disclosed that the surging demand for houses in the 6 estates could potentially create an upward price pressure in the medium term.
"The prime residential market continues to benefit from constrained supply, as developers increasingly focus on the high-density, low- and middle-income segments," Knight Frank revealed.
Adding: "This scarcity effect has supported price resilience for the prime residential real estate, despite broader economic challenges."
Knight Frank also disclosed that the upcoming establishment of three additional United Nations (UN) headquarters in Nairobi by late 2026 presented a significant demand catalyst for prime residential estates.
The report indicates that the planned establishment of 3 UN offices in Nairobi would significantly increase the number of new expatriates who would require premium housing.
As per the real estate company, for the first half of this year, rental markets within Nairobi showed remarkable consistency, with prime residential rents growing by 7.96 per cent, nearly matching the 7.98 per cent increase witnessed in 2024.
"This sustained performance underscores continued demand from high-net-worth individuals and expatriates, particularly for well-priced properties in prime locations," the report highlighted.
Additionally, approved building plans for the first four months of 2025 showed significant growth, with total approved values increasing by over Ksh10 billion year-on-year to reach Ksh70 billion.
The report also revealed that a limited demand pool, combined with high construction costs, has resulted in minimal new prime residential developments over the past decade.
