Nairobi Among Top 10 Most Expensive African Cities in 2023
Nairobi has been listed as one of the most expensive cities in Africa, according to the Centi-Millionaire Report 2023 by Henley and Partners. The report, released on Monday, ranked Nairobi 10th, tying with Casablanca in Morocco and Cairo in Egypt.
The report noted that all three of these cities charge $1,200 per square meter of rental space, which is approximately equivalent to Ksh178,000. This cost represents the average price for a prime 200 to 400-square-meter apartment in the Kenyan capital.
In Africa, the leading cities in terms of expense were Cape Town, Hermanus, and Plettenberg Bay, all of which are located in South Africa. South Africa had a significant presence in the top ten list, with five of its cities making the cut, including Umhlanga (ranked fifth) and Central Sandrin (ranked sixth).
Morocco also featured prominently on the list of expensive African cities, with Marrakech ranked fourth and Tangier ranked seventh. Notably, Nairobi was the sole representative from the East and Central African regions, and there were no Western African cities in the top ten.
On a global scale, Monaco in France took the top spot as the most expensive city in the world, with people paying Ksh5.2 million per square meter. Other cities in the top 10 worldwide included New York City, London, Saint Jean Cap Ferrat, Sydney, Hong Kong, Paris, Los Angeles, Palm Beach, and Miami Beach.
For affluent individuals, the top cities to visit included New York City, The Bay Area, Los Angeles, London, Beijing, and Shanghai.
