May 31, 2022 - The rise of Kenya's middle class, particularly wealthy younger individuals seeking to invest in Europe, has driven a UK property investment company, Baron & Cabot, to establish operations in Kenya.
The company aims to facilitate the provision of mortgages and property purchases in the European country, considered one of the lowest-risk investments globally.
According to Mark Pearson, Managing Director of Baron & Cabot, nearly 200 Africans inquire about investments each month, with the majority being younger middle-class individuals interested in buying apartments to rent out.
He noted that the firm receives £3-4 million worth of investments per month and handles at least 2-3 Kenyan clients monthly.
“Majority of these clients have an investment in Kenya but are looking for something else to de-risk that profile. With our program, Kenyans can invest internationally the same way others invest in Kenya and they are able to bring returns,” Pearson explained.
Many of its clients are seeking property homes for holidays or diversifying their asset portfolios.
“With rising property prices in Nairobi, people are seeking to invest in England at a similar price and with a mortgage, they can borrow more with lower interest,” Pearson remarked.
The firm has no investment criteria, but conducts anti-money laundering checks to prevent illicit money flows into Europe.
