Art emerges the most sought investment of passion among Kenya’s wealthy

Art emerges the most sought investment of passion among Kenya’s wealthy

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Classic cars continue to appeal because of their limited supply, growing international collector markets and potential for capital appreciation, while jewellery remains attractive as a portable store of value during uncertain economic conditions.

Art is the most sought-after ‘investment of passion’ among Kenya's high-net-worth individuals (HNWIs), outpacing luxury watches, classic cars, jewellery and fine wine.
Latest survey findings by real estate consultancy Knight Frank show 75 per cent of respondents said their wealthy clients are interested in acquiring art this year, up from 72 per cent in 2025, cementing its position as the country's most sought-after passion investment.
Luxury watches rank second at 50 per cent, overtaking classic cars, which slipped to third place at 44 per cent. Jewellery follows at 38 per cent, while wine rounds out the top five at 31 per cent.
Knight Frank says the growing appeal of art is being driven by the rising international profile of Kenyan artists, whose works are attracting greater attention in global galleries, exhibitions and auction houses, boosting confidence in the asset class.
The consultancy also notes that investors increasingly view art as an effective portfolio diversifier because it typically has a low correlation with traditional investments such as equities and real estate, helping cushion portfolios during periods of market volatility.
“Art is often viewed as a long-term store of value with relatively low correlation to traditional asset classes such as equities and real estate, making it an attractive portfolio stabiliser during periods of market volatility,” reads the report.
Beyond investment returns, the report says many affluent Kenyans are building art collections as legacy assets that can be passed down through generations while reflecting their personal identity and supporting the country's creative industry.
Luxury watches are also gaining traction as investors seek portable assets capable of retaining or appreciating in value.
According to the report, established watch brands are increasingly being viewed as discreet stores of wealth amid persistent inflation concerns and global economic uncertainty.
Classic cars continue to appeal because of their limited supply, growing international collector markets and potential for capital appreciation, while jewellery remains attractive as a portable store of value during uncertain economic conditions.
Fine wine is also emerging as a recognised alternative investment as improved access to global markets and growing investor knowledge broaden participation in the asset class.
“Whether acquired for future consumption, collection, or investment, wine is increasingly viewed as a legitimate component of a diversified wealth portfolio.”
Knight Frank defines High-Net-Worth Individuals (HNWIs) as individuals with a net worth of $1 million (Sh129.23 million, at the current exchange rate) or more in assets.

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