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Browsing: Kenyan Shilling performance against the US dollar
- Developers targeting Kenya’s wealthy are now pricing the units in foreign currencies such as the US dollar.
- The continued upward trend in prime residential rents can be partly attributed to the appreciation of the dollar against the Kenyan shilling.
- Real estate investors are mitigating the emerging risks by deploying their capital in projects that have dollar-denominated returns where possible and in green-rated building.
High-end real estate developers targeting Kenya’s wealthy are now pricing the units in foreign currencies such as the US dollar to cushion them from losses that the devaluation of the Kenyan shilling may occasion.
New revelations contained in a report by property tracker and real estate management firm Knight Frank show that the trend gained traction in the second half of 2023 as foreigners residing and working in Kenya continued playing a pivotal role in driving the country’s upscale real estate market.
Despite economic headwinds, the prime …
