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Kenya to sustain real estate boom on affordable housing plan

More players in the global real estate market have entered Kenya’s housing market in a bid to build affordable housing, student housing and luxury housing developments which aim to service the country’s growing real estate market demand.

Speaking during the launch of VAAL Real Estate Kenya luxury apartments dubbed PAVO Riverside in Nairobi, Turkiye Ambassador to Kenya Sunday Yüksel said Kenya has a vibrant real estate market with boundless opportunities in different sectors

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The latest Economic Survey 2023, released in early may by the Kenya National Bureau of Statistics KNBS shows that Kenya’s construction sector grew by 4.1pc in 2022 alone.

This indicating significant returns for prospective investors in the sector.

Real estate developers are now angling themselves to take advantage of the Government’s incentives to build low cost housing among other projects.

In 2022, KNBS stated that real estate accounted for 40 percent of most rich Kenyan’s portfolios, with the individuals announcing plans of continuing investing their wealth in real estate.

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