The popularity of apartments in the Kenyan real estate sector is bound to shine more as compared to houses and town houses. According to Hass Consult, this can be explained by the increase of younger families in Kenya who would prefer more affordable and smaller homes.
Data Fintech’s January Global Real Estate Report shows an increase in the asking price of apartments in the Kenyan real estate market in January 2018 as compared to December 2018. The report shows a 3% increase in the volume of 3-bedroom apartments in the real estate market from Sh19.72 million to Sh20.35 Million. Houses and townhouses on the other hand faced a 27% and 18% drop respectfully, between December 2017 and January 2018.
Earlier last week, Czech Republic-based private equity real estate developer, Lordship Africa broke ground for a 44 -residential tower in Nairobi set to host 288 luxury apartments. The building will be in Upper Hill and will feature high-end residential condominiums, a smart move considering the performance of 3-bedroom apartments for rent in the Kenyan market.
Between December 2017 and January 2018, the DF Global Real Estate Report showed a 19% increase in the average rental revenue for 3-bedroom listings across the marketplace from Sh139, 438 to Sh166, 410. In fact, as compared to January 2017, January 2018 has witnessed a 31% increase in the average rental revenue per month for 3-bedroom apartments, proving that apartments would be the best investment option in the real estate market.
The study has been realized by Data Fintech and was based on data collected from several online marketplaces in Kenya.
Data Fintech is a big data service provider, transforming databases into revenues. With a team of 32 freelance data specialists the company is active in Africa, Middle East and Europe.
