A recent study by Knight Frank reveals that art remains the top passion-investment choice for Kenya's high-net-worth individuals in 2026. The Wealth and Investment Trends report indicates that 75% of respondents said their affluent clients were interested in acquiring artworks, up from 72% the previous year. This growing interest is attributed to the increasing international exposure of Kenyan artists through global galleries and auctions. As a result, art has become an attractive option for wealthy buyers seeking a blend of personal enjoyment and potential financial return.
Luxury watches ranked second in the survey, attracting interest from half of the surveyed advisors. The appeal of luxury watches lies in their portability and the ability of established brands to retain or appreciate in value, making them attractive alternatives to traditional assets. This characteristic allows collectors to easily buy, sell, and trade luxury watches, adding to their allure. Furthermore, luxury watches are often seen as a status symbol, which may also contribute to their popularity among high-net-worth individuals.
Classic cars fell to third place with 44% interest, followed by jewellery and fine wine, which drew interest from 38% and 31% of respondents, respectively. Classic cars continue to lure collectors because of their exclusivity, limited supply, and potential for capital appreciation. The scarcity of certain models and the historical significance of classic cars make them highly sought after by collectors. Additionally, the restoration and maintenance of classic cars can be a rewarding hobby for enthusiasts.
The report notes that collectors view these assets as a blend of personal enjoyment and potential financial return, especially during periods of market volatility. This perspective allows collectors to appreciate their investments on a personal level while also potentially benefiting from long-term financial gains. As a result, passion investments have become an essential component of many high-net-worth individuals' portfolios in Kenya.
Despite rising interest, most wealthy Kenyans allocate less than 10% of their portfolios to luxury collectables, reflecting a cautious approach. This conservative allocation may be due to the perceived risks associated with investing in luxury assets or the desire to maintain a diversified portfolio. However, the growing interest in passion investments suggests that high-net-worth individuals in Kenya are becoming more open to exploring alternative investment opportunities.
Only a small minority (6%) allocate between 31 and 40% to such assets, and none exceed a 40% share of wealth. Traditional wealth-preservation vehicles—real estate, private businesses, development land, agriculture, and financial instruments—remain the dominant allocations for Kenya's affluent investors. This suggests that while passion investments are gaining popularity, they have not yet become a primary component of most high-net-worth individuals' portfolios.
The Knight Frank study provides valuable insights into the investment trends of Kenya's high-net-worth individuals. As the country's wealth landscape continues to evolve, it will be interesting to see how passion investments fare in the future. With art leading the way, luxury watches and classic cars close behind, and other assets such as jewellery and fine wine also gaining traction, the passion investment market in Kenya is likely to remain dynamic and diverse.
Key points
- 75% of high-net-worth Kenyans favour art as a passion investment in 2026.
