Italians have topped the list of high-net-worth individuals (HNWIs) buying prime residential properties in Kenya, according to a Knight Frank report. 

HNWIs from the UK, Netherlands, Belgium, New Zealand, the US and France also prefer the African nation as second-home destinations.  

The report said that the expensive suburbs of Nairobi and areas along the coastline are in demand by Italians, followed by Britons and Americans.  

Foreigners make up a significant group of buyers of prime properties in Kenya, enabling price sustainability.  

Prime residential properties are priced above $500,000 (64.4 million shillings). 

The high-end homes recorded an average 3.77% price gain in Kenya in 2022, recording an upward growth for the second year, Knight Frank added.  

Kenya was also ranked as the top global real estate investment hotspot after France, Spain, Italy and the UK.  

(Editing by Cleofe Maceda; Cleofe.maceda@lseg.com)