Real estate in Kenya
No City Country World region 12-month ( Mar 2012-13 )% change 6-month ( Sep 2012 - Mar 13 )% change 3-month ( Dec 2012 - Mar 13 )% change
1 Jakarta Indonesia Asia Pacific 38.1 14.8 6.9
2 Bangkok Thailand Asia Pacific 26.1 7.1 5
3 Miami United States North America 21.1 5.8 −0.6
4 Dubai UAE Middle East 18.3 10.9 5.4
5 Shanghai China Asia Pacific 17.4 13.1 2.5
6 St Petersburg Russia Europe 13.1 11.9 1.8
7 Los Angeles USA North America 12.5 8.6 9.4
8 Monaco Monaco Europe 12.2 12.2 10
9 Hong Kong China Hong Kong Asia Pacific 8.8 2.6 1.2
10 Nairobi Kenya Africa 8.4 3.1 1.6
11 San Francisco USA North America 8.4 2.3 −0.1
12 London United Kingdom Europe 8.1 3.6 2.2
13 Beijing China Asia Pacific 6.3 4.9 2.7
14 Tel Aviv Israel Middle East 3.7 −4.1 −5.4
15 Kuala Lumpur Malaysia Asia Pacific 2.8 3.2 2.3
16 Cape Town South Africa Africa 1.7 1.7 1.2
17 Mumbai India Asia Pacific 1 0.7 0.5
18 Sydney Australia Asia Pacific 0 0.8 0.8
19 Moscow Russia Europe −1.8 1.1 1.6
20 Zurich Switzerland Europe −2.5 −2.5 0
Prime Global Cities Index -- Q1 2013
Kenya Africa
The real estate sector in Kenya has seen a boom that began somewhere in the mid to late 2000s because the property market is responding to increased demand. In Nairobi, the capital and largest city of Kenya, there is one of the largest expatriate communities in the continent due to the significant number of multinationals who have chosen Nairobi as either their African hub or East and Central African hub. The rebirth of property development in Nairobi has attracted global attention. In its 2012 Wealth Report, real estate management company, Knight Frank, ranked Nairobi as the fastest-growing real estate market in the world, outpacing cities like Miami and Monaco. Real estate prices in Nairobi rose 25 percent between January and December 2011. Nairobi was also voted as one of the top 10 cities to watch by global real estate firm, Jones Lang LaSalle, out of 150 cities globally.