The COVID-19 pandemic has caused unprecedented disruption in the economy, and the real estate sector has not been spared. Since the first case was confirmed in Kenya on 13th March 2020, the pandemic has impacted the economy, the workforce and the property market with varying effects. The government and health directives in place; social distancing directives, travel restrictions, curfews and county...
The scale at which the Coronavirus has spread across the world has been immense. Its implications on economies and health have been dire, leading to an abrupt change in people’s way of life. This is expected to continue over a sustained period thus influencing occupiers and end users of real estate in unprecedented and unique ways, which are expected to have implications for the real estate sector such...
The real estate sector, just like the country’s economy, was poised for growth in 2020 having began to show signs of recovery in 2019 from the sluggish growth experienced in 2017 and 2018. This was evidenced by the sector’s growth, which came in at 5.3% in 2019, 1.2% points higher than 4.1% in 2018 according to KNBS Economic Survey 2020. In terms of performance, according to our Markets review, the...