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Apartments sales dominate as maisonettes and bungalows wither

Kenyan Business Feed by Kenyan Business Feed
Apartments sales dominate as maisonettes and bungalows wither
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The outlook on the units offered reveals that in Quarter 2 of 2019, apartments’ dominance continued and was characterized by upsurge while that of Maisonette and Bungalows wither in relation to Quarter 1 of 2019. Apartments accounted for four-fifth (i.e. 81.2 per cent) of the total units in Quarter 2 compared to five-eights (62.6 per cent) in the first quarter of 2019 according to Kenya Bankers Asociation (KBA).

The continued dominance of the apartments in the housing market is a clear demonstration of the predominance of the middle-income segment of the population.

From a developer’s perspective, this outlook is one way of dealing with the pressure of land prices and hence the need to build further upwards. Maisonettes accounted for one-seventh of the market’s share though it registered a 10.5 per cent decline from 23.4 per cent in Quarter 1 to 12.9 per cent in Quarter 2.

The share of Bungalows also rammed down by 8.1 per cent from 14.0 per cent in Quarter 1 to 5.9 per cent in Quarter 2 0f 2019.


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Tags: ApartmentsLand PricesMaisonettesReal estate
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