Business

Kenya's luxury housing boom

Published 5:35 AM ET, Wed June 27, 2012
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Houses in Miotoni Ridge, a 14-mansion development in Nairobi, Kenya, are designed for the highest-end of the luxury market. Courtesy Knight Frank
The Kenyan capital's luxury real estate market saw the biggest price increases globally last year, according to The Wealth Report 2012. Courtesy Knight Frank
"A lot of Kenyans in the diaspora in the [United] States and Europe send a lot of money back to Kenya and a lot of that gets invested in the property market," says Ben Woodhams, of Knight Frank Kenya. Courtesy Knight Frank
Analysts say, however, that international investors have been slow to dive into the country's market. Courtesy Knight Frank