Commercial property struggles as residential market grows

Apartment blocks.  PHOTO | SHUTTERSTOCK

Kenya’s commercial property market remains in the doldrums, with the value of non-residential buildings approved in the 11 months ended November 2023 by Nairobi County falling below the pre-pandemic levels.

The latest data published by the Kenya National Bureau of Statistics (KNBS) shows that the value of non-residential buildings stood at Sh31.5 billion in the review period.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.