Kenya’s wealthy turn to art and classic cars investments, report

NAIROBI, Kenya, Sept 19 – High-net-worth individuals (HNWIs) in Kenya are showing a growing appetite for passion-driven investments, with art, classic cars, jewellery, and high-end furniture emerging as top areas of interest, new findings reveal.

According to insights presented at a wealth briefing session in Nairobi, 72 percent of Kenya’s wealthy are keen on art, 50 percent are interested in classic cars, while 44 percent are eyeing jewellery and luxury furniture.

The research, compiled in the Wealth Report 2025 – Kenya Edition by Knight Frank, also shows a rising sense of domestic confidence among the country’s elite.

Fewer than 10 percent of HNWIs are considering applying for second passports or alternative citizenship in 2025, a trend that contrasts with earlier years, when wealthy Kenyans sought foreign residency for security and investment purposes.

The report highlights a shift in real estate investment, with fewer wealthy individuals putting money into commercial property.

In 2024, less than 10 percent invested in that segment, while only a small fraction, between 1 and 10 percent, bought homes in the same year or intend to in 2025.

At the same time, non-traditional asset classes are gaining traction, influenced heavily by environmental, social, and governance (ESG) considerations.

About 72 percent of wealthy Kenyans now factor community impact into their property investment decisions, signalling a growing shift toward responsible and socially conscious wealth allocation.

Beyond traditional sectors like real estate, the country’s elite are diversifying portfolios into lifestyle-driven assets and socially impactful investments.

Kenya is currently ranked among Africa’s leading wealth markets, hosting a share of the continent’s estimated 135,000 high-net-worth individuals.

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