The Wealth Report was released by property firm Knight Frank last week and we’re still trying to wrap our heads around the massive amounts of cash some Kenyans have.
According to the report, High net worth individuals (those worth Sh100 million and more) own an average of 2.7 homes. Their South African counterparts own an average of four homes each. “The super-rich took the opportunity to snap up new homes during the year as luxury residential prices softened amid an oversupply in the high-end market segment, tighter liquidity and a general market correction, making it a buyers’ market,” the report said.
Read: Pesa otas: proof Zari is the richest socialite in East AfricaFor those aspiring to be called rich one day, you might borrow a leaf from those already in that bracket and investing in what they do. Here is a list of the investments high net worth individuals make and how they spread out the cash they pump in: equities (25%), property investments (22%), cash or cash equivalents (22%), bond (20%), private equity (3%), luxury investments (3%), gold (1%) and other assets (4%).
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