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Kenya: The booming luxury housing market in Kenya is not for the locals

Posted on 02 January 2013

Despite the development boom in state-of-the-art luxury homes in Kenya, the country’s upper class has fallen on hard times and can no longer afford them, according to economic experts here. Instead, Kenya’s formerly wealthy have now become part of the continent’s growing middle class.
According to the African Development Bank, by 2010 Africa’s middle class had risen to an estimated 34 percent of the continent’s population or nearly 350 million people – up from about 126 million or 27 percent in 1980………………………………………..Full Article: Source


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