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Real Estate Activities in Kenya
BY Louise Mitchell
Kenya
30 October 2020
R 14 400.00 (ZAR)  
estimated $ 872.54 (USD) *
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Real Estate Activities in Kenya


The real estate sector contributed almost 7% of Kenya’s GDP in 2019. There were 434 registered estate agents in March 2020, the same as in 2019, and an estimated 40,000 unregistered agents. The majority of players are privately-owned estate agencies and property developers, and there are a number of international companies operating in the country.


Affordable Housing


The Kenyan government’s affordable housing initiative is viewed as an opportunity for property developers to diversity, as the commercial and high-end residential property markets are cooling down due to oversupply and constrained consumer spending. The government had aimed for 500,000 new affordable homes by the end of 2022 and provided funding, tax incentives and exemption from stamp duty for transfers. The initiative is, however, hampered by a lack of funding and court cases against a national housing development levy.


Residential Property


The coronavirus pandemic has led to a collapse in property sales as people are not viewing properties for sale, and transaction volumes are expected to decline in 2020. The housing market in Kenya is primarily a rental market. Affordability is a major constraint to the growth of the housing and mortgage markets, and a key challenge to accessing decent housing. As a result, only about 20% of Kenyans living in urban areas own the homes they live in.


Report Coverage


This report focuses on the real estate industry which comprises commercial, industrial and residential properties, as well as property development and property valuation. The report includes information on the size and state of the sector, economic conditions, regulations, government initiatives and other influencing factors. There are profiles of 21 companies including real estate investment trust manager, Stanlib’s ILAM Fahari i-Reit, other Nairobi-listed companies Centum Real Estate and Home Afrika and agents including Pam Golding and Knight Frank.


Page
1. INTRODUCTION 1
2. COUNTRY INFORMATION 1
2.1. Geographic Position 2
3. DESCRIPTION OF THE INDUSTRY 3
3.1. Industry Value Chain 4
4. SIZE OF THE INDUSTRY 5
5. STATE OF THE INDUSTRY 6
5.1. Local 6
5.1.1. Corporate Actions 15
5.1.2. Regulations 16
5.1.3. Enterprise Development and Socio-Economic Development 18
5.2. Continental 18
5.3. International 20
6. INFLUENCING FACTORS 21
6.1. Economic Environment 21
6.2. Technology, Research and Development (R&D) and Innovation 22
6.3. Labour 24
6.4. Environmental and Social Concerns 25
6.5. Cyclicality 26
7. COMPETITION 27
7.1. Barriers to Entry 27
8. SWOT ANALYSIS 28
9. OUTLOOK 28
10. INDUSTRY ASSOCIATIONS 29
11. REFERENCES 30
11.1. Publications 30
11.2. Websites 30
APPENDIX 1 31
Summary of Notable Players 31
COMPANY PROFILES 35
ACORN HOLDINGS LTD 35
AIRWAVE PROPERTIES LTD 38
AMAZON VALUERS LTD 40
AMS PROPERTIES LTD 42
AZIZI REALTORS LTD 44
CANAAN PROPERTIES LTD 45
CENTUM REAL ESTATE LTD 47
ELEGANT PROPERTIES LTD 49
ENKAVILLA PROPERTIES LTD 51
FUSION GROUP LTD 53
HASSCONSULT LTD 55
HOME AFRIKA LTD 56
ILAM FAHARI I-REIT 59
KENYA VALUERS & ESTATE AGENTS 61
KNIGHT FRANK (KENYA) LTD 63
MYSPACE PROPERTIES (KENYA) LTD 65
OPTIVEN LTD 66
PAM GOLDING PROPERTIES KENYA 68
RE/MAX KENYA 70
USERNAME INVESTMENT LTD 72
VILLA CARE LTD 74