27 February 2013

Kenya: Expats Push Up Prime Residential Rents in Nairobi

Expatriates posted to Nairobi will pay higher for accommodation than a year ago, according to a report released by ECA International.

Interest in the Kenyan capital by foreign firms has been on the increase over the past year, triggering "exceptional price increases" as Nairobi restates its position as the business hub of choice in sub-Saharan Africa.

"In Africa, rents in Nairobi have continued to rise sharply as an influx of foreign companies and expatriates has triggered exceptional price increases," ECA's Accommodation report states.

The Knight Frank Africa Report 2013 says rent for prime residential space in Nairobi averages $4,400 (Sh385,300) per month for a four-bedroom executive house in upmarket residential estates at present.

The ECA report ranks Hong Kong as the most expensive location in the world for expatriates, with an unfurnished high-end three bedroom apartment averaging $11,550 (Sh1.02 million) per month.

ECA's Accommodation reports provide a comprehensive guide on costs and intricacies of renting expatriate accommodation in 130 locations around the world.

Copyright © 2013 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.