Property boom in Kenya

JOHANNESBURG - Kenya&39;s real estate industry has been on the rise for the past decade.
 
Nairobi is now one of the most recognisable cityscapes in Africa.
 
It has survived predictions of a property bubble and continues to see investor interest.
 
For the past 10 years, Nairobi&39;s real estate market has been attracting interest from investors.
 
In its 2012 Wealth Report, real estate management company Knight Frank says:
 
Nairobi is the fastest-growing real estate market in the world, outpacing cities like Miami and Monaco. With real estate prices rising 25% this makes it one of the top 10 cities to watch by global real estate firms.
 
There are several factors driving the demand for property in Nairobi.
 
Kenya is strategically positioned, both economically and geographically, making it the perfect destination for global business and government meetings.
 
Recent oil and gas discoveries have also made Nairobi the regional hub for business.
 
Its consumer-facing industries like finance and business services and especially telecoms and technology make it strategic for multinationals wanting to access the region.