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Browsing: Knight Frank
- Kenya’s ultra-wealthy performed better than their counterparts elsewhere in the world in 2023
- The world’s wealthiest saw their fortunes slashed globally by 10% in 2022 owing to challenges including post-pandemic property price falls, soaring energy prices, and surging inflation
- Africa’s super wealthy saw the lowest losses, recording an overall drop of just 5%
Kenya’s wealthy fared better than the wealthy anywhere else in the world during the economic turmoil of 2022, retreating from international citizenships and foreign property in favour of Kenya and Africa as safe havens.
This is according to the 2023 attitudes survey issued with Knight Frank’s annual Wealth Report. As per the survey, the world’s Ultra-High Net Worth Individuals (UHNWIs) saw their fortunes slashed globally by 10% in 2022 on a cocktail of post-pandemic property price falls, soaring energy prices, falling stock markets, and surging inflation and interest rates.
The super-wealthy in Europe were by far the …
A new report by Knight Frank shows that whilst still declining, prime residential rents declined at a slower rate of 6.02 percent over the past 12 months to June, compared to a 7.62 percent decline in a comparable period in 2020.
The company’s First Half 2021 Kenya Market Update says the change was mainly attributed to the reopening of the economy, roll out of vaccinations and landlords adjusting rental terms to accept lower rental prices.
The report adds that the continued oversupply of residential developments in certain locations such as Kilimani coupled with the current economic state still makes the prime residential rents sector a buyers’ and tenants’ market.
Prime residential sale prices in Nairobi marginally improved by 0.1 percent over the past 12 months to June 2021, compared to a 5.1 percent decline in a comparable period in 2020 providing signs the market is stabilizing.
This is mainly attributed …
The GSMA estimates that smartphone connections will rise to an estimated 700 million by 2025. With this growth, Kenya, Nigeria and South Africa continue to dominate e-commerce sales.
Knight Frank notes that formal retail space across the continent is continually undergoing rapid transformation. This transformation is happening as “the entry and exit of various brands in the sector across the continent, retail outlets have had to adopt omnichannel offerings in order to ensure a measure of sustainability”.…
The firm has undertaken assignments in 50 of the 54 African countries and employs more than 500 people in its network of over 20 local offices.
This latest partnership comes at a time when the firm’s latest London sales and lettings reports show that June was a record-breaking month for sales transactions, lettings, viewings and new prospective tenants registering.…
Private capital remains an important driver of investment activity in much of Africa
Office yields remained largely stable in most African markets over the past two years, anchored by patient domestic capital as local investors assume a longer-term perspective, a new analysis by Knight Frank shows.
The analysis, published in a new Knight Frank report dubbed Africa Horizons, shows that of the 35 office markets covered, yield remained stable in 16 locations in the two years to 2018 and rose in six, while 13 markets recorded declines.
Africa Horizons provides a unique guide to real estate investment opportunities on the continent, examining developments in agriculture, hospitality, healthcare, occupier services (office), capital markets, residential and logistics property sectors.
“By taking a longer-term perspective, and in some cases a lower return profile, local investors have remained more active than headline figures suggest. This explains how yields in most major markets have remained …