Kenya’s super rich in search of a second home are likely to make the investment outside the country with most preferring to buy the residences in Europe, a global realtor says in new findings.
The United Kingdom (UK), according to the 2017 Knight Frank Wealth Report, is the most preferred location by the dollar millionaires.
South Africa features is the second most sought-after place as Mauritius, Spain and United States close the top-five preferred list.
The top five locations remained hotspots mainly for their convenience to dollar millionaires frequenting the countries for business.
The residences are also an alternative accommodation option to the kin of the super rich studying abroad with London—as well as other UK cities—being one of the most favoured higher education destinations.
The recently published report indicates that an overwhelming 68 per cent of Kenya’s Ultra High Net-Worth Individuals (UNHWI) prefer to take their children to study in foreign countries.
In contrast it emerged that only 28 per cent of global super rich preferred learning institutions outside their countries of origin, which might as well be an indictment of the local education system.