PERSONAL FINANCE
Young Kenyans buy apartments in UK to rent out
SATURDAY MAY 28 2022
A street view of London, UK. Kenyan buyers are spending an average of 210,000 pounds (Sh30.7 million) on a house in Birmingham, Manchester, London, Liverpool, and Leeds in the UK. PHOTO | SHUTTERSTOCK
By ELIZABETH KIVUVA
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Kenya’s middle class and the ultra-rich have turned to the UK to buy houses for renting out as they diversify their investments.
A Britain-based property investment dealer, Mark Pearson says Kenyan buyers are spending an average of 210,000 pounds (Sh30.7 million) on a house in Birmingham, Manchester, London, Liverpool, and Leeds in the UK.
“We are getting a lot of interest from East Africa and predominantly through Kenya. Our average purchase from a Kenyan client is 210,000 pounds,” said Mr Pearson, adding that they are also seeing an increase in the number of Kenyans inquiring about the homes.
