Property and Rental Yields in Kenya Beat US, Singapore & South Africa – Report

Kenyan homes are delivering investment returns unequaled globally, according to a new Special Report by real estate firm HassConsult.

The report shows that Kenya has widened its lead in 2025 compared with nine other leading property markets worldwide.

The report, which analysed property prices and rental yields across Kenya, South Africa, the USA, Canada, the UK, France, Switzerland, Singapore, and Australia, found a sharply different growth trajectory for Kenya — driven largely by strong domestic demand.

Since 2000, residential property prices in the United States have risen by 201%, by 151%  in France, and by 122% in Singapore. But in Kenya, prices have surged by 425%.

Between January and June 2025 alone, Kenya’s property market registered a 7.8 per cent increase in home prices, the highest among all markets surveyed. Australia ranked second at 4.74 per cent.

By contrast, the USA, Switzerland, France, the UK, and Singapore all recorded minimal growth as they were weighed down by high interest rates and debt-heavy property sectors.

“A critical factor in the strength of Kenya’s housing market has been its source of finance,” explained HassConsult CEO Sakina Hassanali.

“Homes in Kenya are fully paid, which makes the market super-resilient. Owners rarely end up grappling with mortgage repayments they can’t meet, preventing the waves of forced sales suffered in other economies.”

Less than 2 per cent of homes in Kenya are mortgage-financed, compared with up to 90 per cent in the international markets analysed.

Further, the report attributes Kenya’s sustained property boom to strong demand among an expanding base of high earners working in education, healthcare, trade, agriculture, and finance. 

Hassanali noted that multiple factors, including declining populations in Western and some Eastern economies, are driving down property demand abroad. 

Rental Yields and Off-plan projects

Beyond capital appreciation, Kenyan property continues to generate rental yields above the global average. Between January and June  2025, landlords earned an average yield of 5.5 per cent, compared to much lower returns in many developed markets.

The report also highlighted the growing preference for off-plan projects, which are becoming the main entry point for many Kenyans into property ownership.

With discounts and flexible instalment payment options, off-plan buyers are securing outsized gains compared with traditional property purchases.

“With off-plan now the main point of entry for many Kenyans into property, the discounts and instalment payments are creating gains that are, in reality, over twice the norm in other global markets,” said Ian Mutinda, HassConsult’s Development Sales Advisor.