The Kenya Bankers Association outlook on the units offered on the market reveals that in Quarter 2 of 2019, apartments continued to dominate the market and was characterized by an upsurge while that of maisonettes and bungalows diminished in comparison to Quarter 1 of 2019.
Apartments accounted for 81.2 percent of the total units in Quarter 2 compared to 62.6 percent in the first quarter of 2019.
The continued dominance of the apartments in the housing market confirms that most demand is generated by people of average income. According to KBA, one way for developers to deal with the high cost of land prices under the circumstances is to increase space occupied by buildings vertically.
Maisonettes accounted for one-seventh of the market’s share though it registered a 10.5 percent decline from 23.4 percent in Quarter 1 to 12.9 percent in Quarter 2.
The share of Bungalows also dropped down by 8.1 percent from 14.0 percent in Quarter 1 to 5.9 percent in Quarter 2 of 2019.