Tag Archives: Knight Frank
Knight Frank: Latest News
Dana Sanchez, 10:10 pm
Luanda is still the world’s second most expensive city for expats after Hong Kong, but rent for office space fell almost 50 percent in the past two years. Demand has virtually ground to a halt in the region’s top oil-producing country. Rent has has also fallen for office space and luxury homes in Nairobi, where there’s an oversupply. Kenya became a hotspot for oil and gas exploration in 2012. With the price of crude down more than 50 percent since mid-2014, Nigeria, the region’s second-largest oil producer, is in recession. One bright spot: industrial space rent is rising in Kenya.
Kevin Mwanza, 4:51 am
Knight Frank, world’s largest property agency and consultancy firm, said a growing retail market in East Africa has increased the demand for real estate management services in the region and it will expand its office to Rwanda this year. The firm, which already operates in 24 African countries, has offices in Kenya and Uganda.
Kevin Mwanza, 6:17 am
War-torn horn of Africa nation, Somalia, could be the best long-term real estate investment destination in the world today due to a high population growth expected in the region by the close of the century, according to a study by a Swedish professor Hans Rosling. Africa is expected to account for over two-thirds of the world’s additional 3 billion people by the end of the 21st century
Kevin Mwanza, 8:46 am AFKI Original
Knight Frank said in its 2015 report that Africa’s rapid population increase coupled by a strong economic growth across several countries on the continent was building a formidable middle class that could prove too attractive for global real estate investors to ignore over the coming decade. Africa’s population is estimated to reach four billion people by the start of the next century.
Staff, 6:10 am
The rapid growth of ultra-high net worth individuals (UHNWI) over the next ten years will have a positive spin-off for Africa’s luxury residential property sector, with the allocation of more capital into the market expected. According to Knight Frank’s 2015 Wealth Report, UHNWI who own at least $30 million (R371 million) in assets are expected to increase by 59% in Africa compared with 34% globally.
Kevin Mwanza, 8:59 am
Kenya’s housing market has been on the rise in recent years despite growing challenges of terrorism. The east Africa and Kenya specifically, the property market is responding to demand that has been created by the expanding middle class and its citizens in the Diaspora with disposable income and able to service their mortgages.
- Real Estate