In Kenya, we hold a very strong culture. Since colonial invaders long ago clumsily decided on our national boundaries, we have developed a strong sense of national identity as well as of maintaining our ethnic and other diversities.
In the investment space, different nations favour different stores of value for their hard-earned savings. Russia and Central Asia tend to prefer precious metals, the United Kingdom holds pensions, while in the United States people strongly prefer stock equities. But here in Kenya, we prefer and love our real estate investments.
Holding property is extremely important to us. However, given that our main store of savings value is in real estate, it foments a litany of scammers and unscrupulous developers. Buying off-plan developments carries significant risk, with very little recourse if a project falls through. Even existing homes, plots and apartments come with title deed fraud risks. Consequently, buyers have become increasingly careful, relying on legal advisers to ascertain a property's legitimacy before purchase.
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