“There is a great mobility of wealth with Africans and Kenyans buying property abroad. London is the most popular for Kenyans searching for property followed by Dubai,” he told the Nation in Nairobi Thursday.
The preference for safe heavens also casts a shadow on the sources of the money in the hands of Kenya’s super rich who might be out to protect proceeds earned through corruption.
The super-rich however carry their Africanness along preferring to buy residential property as an investment but also as a safe haven for their wealth.
Kenya’s super-rich are stashing their money abroad and might relocate there in just under 10 years to safeguard the interests of their children, according to the report on global wealth.
Mr Andrew Shirley, editor of the Knight Frank Wealth report, says there is an increasing interest in property in the United Kingdom and Dubai.
