Home prices fall as foreigners exit

Prices and rent of high-end houses have dropped on reduced demand as expatriates flee from Kenya due to Covid-19 in the six months to June in a period that also saw demand for business and office space reduce.

Half year report released Wednesday by Knight Frank shows that prices of prime residential houses in places such as Karen, Lower Kabete, Runda and Muthaiga dipped by 2.9 percent in contrast with a 1.8 percent decline in same period last year.