Key Takeaways:

Strong Growth: The sector has witnessed a remarkable 33.7% increase in output between 2019 and 2023, driven by factors such as rapid urbanization, ongoing infrastructure development, and government initiatives like the Affordable Housing Program.
Residential Market Dynamics:
High Demand: Three-bedroom flats are the most popular residential property type, with Nairobi City County leading the market.
Price Variations: Property prices exhibit significant regional disparities, with urban centers commanding higher prices.
Desirable Amenities: Features like parking spaces, CCTV surveillance, and backup generators are highly sought-after by homebuyers.
Successful Sales: A substantial 76.2% of properties listed for sale in 2023 were successfully sold. Two-bedroom bungalows and four-bedroom maisonettes proved particularly popular among buyers.

Rental Market:
High Occupancy: The rental market remains highly competitive, with a remarkable 88.8% occupancy rate in 2023.
Flats and Apartments Dominate: These property types are most prevalent in the rental market, particularly in Nairobi City County, Kiambu, and Kajiado.
Rental Price Variations: Townhouses generally command the highest rental rates.

Commercial Market:
Office Buildings Lead: Office buildings constitute the largest segment of the commercial property market, followed by industrial and warehousing spaces.
Key Locations: Nairobi, Kiambu, Mombasa, and Machakos are prime locations for commercial properties.
Office Space Demand: Office spaces command the highest rental prices within the commercial sector.

What These Findings Mean for You:

Investors: The strong growth and high demand across various segments present attractive investment opportunities.
Homebuyers: Understanding market trends and price variations can empower you to make informed decisions when buying or renting a property.
Property Developers: The survey provides valuable data to guide development strategies and cater to evolving market preferences.