South Africa has surpassed the United States as one of the leading overseas property investment destinations for wealthy Kenyans, highlighting a shift in how high-net-worth individuals (HNWIs) are diversifying their assets internationally.
According to Knight Frank’s Wealth & Investment Trends 2026 report, Kenya remains the preferred location for residential property investment, with 60 per cent of wealthy Kenyans indicating they would buy their next home locally.
The findings come amid continued growth in Kenya’s wealthy population, which is estimated to include about 7,200 US-dollar millionaires, 16 centi-millionaires worth more than US$100 million, and at least two billionaires.
Among international markets, the United Kingdom retained the second position, attracting 25 per cent of respondents. South Africa ranked third at 15 per cent, replacing the United States, which had previously featured more prominently among preferred offshore investment destinations.
The shift suggests that while wealthy Kenyans continue to show strong confidence in the local property market, they are increasingly exploring investment opportunities closer to home within Africa.
Researchers attributed Kenya’s continued popularity to confidence in the domestic economy, ongoing real estate activity and increased participation in local investments. For many affluent investors, property remains a preferred tool for preserving wealth over the long term.
The UK continues to attract Kenyan investors due to its established legal system, mature property market and historical links with Kenya, with cities such as London remaining popular choices for international asset diversification.
However, South Africa’s growing appeal reflects changing investment patterns among Kenya’s wealthy. The country is increasingly viewed as a regional investment hub due to its developed financial sector, diversified economy and established commercial and residential property markets.
The rise of South Africa also points to increasing intra-African investment, as Kenyan investors explore regional opportunities rather than relying solely on traditional Western markets.
The trend comes as Kenya strengthens its position as a major investment destination on the continent. Nairobi’s reputation as Africa’s “Silicon Savannah” has grown due to its technology ecosystem, financial services sector, multinational presence and improving infrastructure.
Despite increased interest in overseas markets, the report shows that domestic confidence remains strong, with six out of every ten wealthy Kenyans still preferring to purchase their next residential property within Kenya.