Like the Filipinos in diaspora, Kenyans also prefer to buy real estate back in their home country. The Kenyan economy is comprised of remittances from Kenyans working overseas. According to their Central Bank, remittances for the first 5 months of this year totalled to $238 million. The figures grew from 2008 which was $280 million and $210 in the 2007.
Part of the remittances received by Kenyans living in Kenya are mostly invested in real estate. This is according to Godfrey Kibeta, a real estate marketing manager.
On the other hand, according to an accountant in a real estate company, Mr. Charles Macharia, 13 percent of their annual sales are properties bought by Kenyans in diaspora.