Report: Malls perform poorly, county seats now property hotspots
The retail segment in real estate performed poorly over the last year.
This is according to a report by Cytonn Real Estate, the development affiliate of Cytonn Investments.
The report showed investment opportunity lies in county headquarters in some markets such as Mombasa, Kiambu and Mt Kenya.
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The report focused on the performance of the retail segment based on rental yields, occupancy rates, and demand and supply.
The retail sector recorded an increase of 1.1 million square feet of mall space into the market in 2018, leading to a supply of 12.5 million square feet in 2019, up from 11.4 million in 2018.
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