Knight Frank revealed Kenya’s Wealthy Embrace Sustainable Real Estate Practices as Climate Change Accelerates

Knight Frank, an independent global property consultant revealed over 90 percent of Kenya’s High-Net-Worth Individuals have embraced green thinking in the properties they invest, a survey results in the Kenya edition of Knight Frank’s annual Wealth Reports on Nairobi.

Knight Frank’s 2024 survey of the spending habits and priorities of the country’s wealthiest individuals reported a surge in the use of renewable energy, with 60 percent of HNWIs now seeking solar panel installations in the properties they invest in, up from 35 percent a year ago.

Kenya’s growth Knight Frank’s 2024 survey of the spending habits and priorities of the country’s wealthiest individuals reported a surge in the use of renewable energy, with 60 percent of HNWIs now seeking solar panel installations in the properties they invest in, up from 35 percent a year ago.

The Kenya attitudes survey, which is based on responses from private bankers and wealth
advisors also found that almost half of HNWIs, at over 46 percent, now review the impact on nature and biodiversity of their assets.
“These results confirm Kenya’s HNWIs have surpassed the global average of including green priorities in their investment portfolios. They also align with Kenya’s leadership position in renewable energy and its focus on the importance of building certifications. This all serves to support the country’s target of reducing its carbon footprint by 32 percent by 2030,”
said Mark Dunford, CEO Knight Frank Kenya

Carbon cutting is becoming an increasingly urgent global priority, as temperature rises
accelerate and erratic rainy seasons, droughts and cyclones become more common.
In efforts to mitigate this deterioration, 40 percent of Kenyan HNWI investors are now seeking green certification and energy ratings for their properties, up from 30 percent a year earlier. This has brought a surge in demand in the country for BREEAM, LEED, DGNB, Green Mark, and NABERS green and sustainable building classifications, delivering energy savings, per building, as great as 53 percent, as well as 42 percent water savings and 35 percent carbon savings.

This rising attention to efficient resource use follows global findings released by Knight Frank in 2023 that found 70 percent of Kenyan HNWIs were already assessing building materials for their carbon footprint, compared with 30 percent of HNWIs worldwide.

“We are seeing a clear trend of environmental leadership across Kenyan HNWIs. Moreover,
while this is centred on their carbon footprint, it also extends to their attention to their
environmental impact, with increased commitments to green roofs, open spaces, and community facilities, such as cycle tracks and electric vehicle charging points” said Boniface Abudho, Research Analyst, Knight Frank Africa

Over 26 percent of the HNWIs said they now require amenities such as well-being spaces and cycle tracks in the properties they invest in, while 40 percent consider the impact on the wider community, with a preference for properties with community facilities.