Kenya wealthy distance from the investments of 'lifestyle'

The country's high-quality individuals change from foreign houses and luxury residential property in favor of local, income-making investments.

A new report by the global real estate consultant Knight Frank shows a growing preference for investments in renewable energies and technology here in the country.

The report shows that the growth of the number and assets of the very extensive rejuvenation in 2024 were significantly significant. A majority of asset managers recorded an increase in less than 10 percent in high-network assets that rose in 2025.

But even when the expansion of the assets cooled down, Kenya is enough to trust in local money.

Boniface Abudho, Research Analyst, Knight Frank, said: “Investors are now trying to diversify their investment portfolio, and only switch from residential property investments to alternative assets such as riding. We also have other financial instruments such as finance bonds or money market funds.

The proportion of prosperity associated in the houses fell from 60 percent in 2023 to just over 20 percent in 2024.

Foreign ownership also decreased, with only each of ten with high networks of ownership abroad.

“We believe that this slow pace of buying houses is due to a number of factors. Some can include the low mortgage penetration in the country. We also believe that the increasing land and construction costs could also be a factor that deter people before buying houses,” added Abudho.

“And then we have domestic and global concerns, we all know the problems that have to do with taxes and what you probably prevent people from buying houses.”

In addition, Knight Frank realizes that a majority of the very rich entrepreneurs are, with only a small part of their assets from the inheritance.

A majority of fund managers say that inheritance assets make up less than 40 percent of their customers' assets. But the legacy still plays a role, mainly in the form of country and residential property.

“Although many of the wealthy people start from somewhere, the inherited wealth, we also have a good part of people who start all over,” said Mr. Abudho.

The report identifies data centers and developing country as a top investment selection for 2025. Other attractive areas are arable land, hotel and leisure, logistics and office space.

At the same time, sustainability becomes a priority, whereby the rich people invest in energy-efficient upgrades and reduce their CO2 footprint.

Mark Dunford, CEO of Knight Frank, said: “We expect almost 50 percent of the customer's wealth in 2025, which is more optimistic than in 2024.”

The rich continue to prefer art and classics as research investments.