Investors in Kenya's Hotels Now See Opportunities in Luxury Homes
Skift Take
The pandemic sparked a surge in investment in luxury houses. While that has increased property tax revenue for governments, the downside of such a boom is a lower number of guests for hotels still recovering from the crisis.
The pandemic has accelerated, among other developments in travel, the surge of both remote work and the short-term rental market. But it's also driven entrepreneurs to invest in luxury houses in Kenya instead of hotels.
Entrepreneurs increasingly view private homes as valuable and affordable investments given that consumers often are looking for more spacious properties. Luxury houses are becoming a popular accommodation option for guests who find them more comfortable than hotel rooms.
"The guests end up being buyers since they frequent the coasts as a holiday destination and hence can make savings by buying their own holiday home," said Clive Ndege, head of sales at Kenya-based real
