How do you feel about renting an unfurnished two bedroom apartment for KES 180,000 per month? How about KES 480,000 per month for a three bedroom penthouse? These prices are on a brochure I came across for Serene Valley apartments in Upper Hill, one of Nairobi’s high-end residential areas. They come with a 24/7 concierge service, lift access to all the apartments, solar heated swimming pool, a gym sauna and mini spa, landscaped gardens, a café, full internet services, the list is endless.
Evidently, the luxury market in Kenya is growing, and specifically in the real estate market. A recent wealth report released by Knight Frank and Citi Private Wealth has Nairobi as the city with the fastest growing luxury real estate prices on the planet.
Speaking on the same, CNN’s Mackenzie in the video below takes a look at this growing market and the factors that are influencing its growth.