Real Estate in Kenya: A Statistical Overview
Key Facts and Figures on the Kenyan Real Estate Market
Real estate is an essential sector in Kenya's economy, providing shelter and investment opportunities. Here are some key statistics about real estate in Kenya:
Monthly Rents for Apartments in Nairobi (2022)
KES 39,853
(~USD 369) for 2-bedroom urban apartments
Areas: Kilimani, Kileleshwa, Karen, Syokimau, Kiambu Road, Imara Daima
Source: Numbeo
Average Apartment Prices in Nairobi (2016)
KES 14.7M
(~USD 136,000)
Source: HassConsult
Warehouse Rental Prices (2013-2017)
KES 20.2 → KES 21.4
per square foot (USD 0.19 → 0.20)
Source: Statista
GDP Contribution (Real Estate Sector)
7.2%
of Kenya's GDP in 2020
Source: World Bank, KNBS
Ability to Pay Rent (2020)
40.2%
of Kenyan households could pay rent
Source: Kenya National Bureau of Statistics
Main Reasons for Inability to Pay Rent (2020)
- 44.8% - Loss of income due to COVID-19
- 24.9% - High cost of living
- 19.8% - Unemployment
Source: Kenya National Bureau of Statistics
Value Added by Real Estate Sector
2018: KES 250.6B (~USD 2.3B)
2019: KES 263.2B (~USD 2.4B)
2020: KES 252.3B (~USD 2.3B)
Source: Kenya National Bureau of Statistics
House Price Index (2018-2020)
Source: Kenya Bankers Association
Housing Trade by House Type (2020)
Source: Kenya Bankers Association
Conclusion
These statistics offer valuable insights into real estate in Kenya, helping investors and stakeholders make informed decisions regarding investment opportunities, rent rates, and market trends.
For more detailed market analysis and investment opportunities, contact Hao Finder today!
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