Real Estate Insights from Kenya’s Market Experts

Halifax Estate Agency Limited has remained operational for over two decades in Kenya’s property market, navigating economic instability, shifting tenant expectations, and changing investment trends.

Founded in the early 2000s by Kunal Pattni, Halifax was established to address inefficiencies in property ownership and management. Pattni, who began his career in the mid-1990s through his family’s involvement in commercial real estate, saw an opportunity to simplify processes for both homeowners and landlords. His background in managing retail spaces and long-standing interest in architecture influenced the agency’s early direction.

The rental market has significantly evolved over the years. Tenants now have greater choice and demand higher standards, including amenities such as swimming pools, gyms, boreholes, and enhanced security. This has forced developers to increase the value of their rental offerings. According to Pattni, tenants today are more informed about their rights and expect both comfort and compliance with legal standards.

For property owners, these changes require a more active management approach. Pattni stresses that rentals must be treated as businesses. Cost-cutting, especially in maintenance, may reduce expenses in the short term but often leads to declining asset value. He points out that older buildings are facing stiff competition from newer developments, and without regular upgrades—particularly to kitchens, bathrooms, and common areas—they risk becoming unviable. 

He adds that security improvements and legal compliance are also critical to sustaining rental income. Commercial property has undergone major shifts as well. The growth of co-working spaces, especially following the Covid-19 pandemic, has changed how office space is leased. Short-term rental agreements have become more common, offering higher returns but requiring more active oversight. Pattni advises landlords to work with professional agents or sub-letting companies to manage turnover and day-to-day operations effectively.

Halifax has also adapted its services to support landowners facing challenges in land banking. In a market where undeveloped plots often sit idle due to funding constraints, the agency’s consultancy division helps structure joint ventures between landowners and developers. This model allows landowners to keep ownership while benefiting from future returns. 

“Land remains a strategic long-term asset,” says Pattni, “even if growth is slower than some expect.”

Despite growing hesitation among younger investors, Pattni maintains that real estate continues to be a reliable way to build wealth. He describes the first property as a key financial milestone that can help unlock credit and enable further investment. While other asset classes may offer faster returns, real estate provides long-term stability, particularly during Kenya’s post-election recovery periods.