Nairobi's Karen area has been ranked among top global neighbourhoods in the world that are likely to outperform regional markets in the next five years.
This is according to a report by Knight Frank which featured areas in the world where investors are likely to pump in money in the near future.
Other areas ranked alongside Karen include Financial District (New York), Brentwood (Los Angeles), CBD (Cape Town), Bayswater (London), Palm Jumeirah (Dubai), and Forest District (Sydney) among others.
“The ability to identify the hotspots of the future is arguably the one superpower most investors and second home buyers would choose to be blessed with to enable them to stay one step ahead of the crowd.
[caption caption="File Photo of a House in Karen"]
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“Our global teams share their local market insights, pinpointing the neighbourhoods they think will outperform their wider city or regional markets over the next five years.
"For some, transport improvements play a significant role; for others, new industries or an area’s comparative value explain their selection," says the Knight Frank 2018 wealth report.
Karen is considered one of the most expensive suburbs in Nairobi and the price of land has appreciated significantly in recent years.
Records indicate that in the past decade, an acre went for around Sh2.3 Million but currently the figure stands at Sh50 Million per acre.
Houses go for between Sh80 Million and Sh110 Million and most home owners in the quiet estate enjoy private gardens.
A number of prominent leaders also live in Karen including DP William Ruto, NASA leader Raila Odinga and Wiper Party leader Kalonzo Musyoka.
[caption caption="Photo of DP Ruto's Karen Home"]
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