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| A Knight Frank development, Osero in Amboseli. [PHOTOS: COURTESY/STANDARD] |
NAIROBI, KENYA: The second quarter of this year saw a lethargic property market with reduced take-up rates for prime retail and office space and shift of focus in the residential segment to smaller residential apartments, says Knight Frank.
In their Second Quarter 2014 Kenya Market Update report released last week, the real estate giant said the reduction in take-up rates for prime retail space was blamed on insecurity and terrorism. “The knock on effect is it has led to the slowing down of the take-up rates in major malls, under construction,” said the update.
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