Wealthy Kenyans Shift to Art, Luxury Watches and Classic Cars-Report

Wealthy Kenyans are now shifting from traditional investments such as land and stocks to spending millions on luxury investments for both financial returns and personal satisfaction.

According to Knight Frank’s Wealth and Investment Trends 2026 report, art, luxury watches, classic cars, jewellery and fine wine have emerged as the most sought-after “investments of passion” among Kenya’s wealthy.

The report revealed that while the wealthy Kenyans remain cautious, they are increasingly allocating part of their riches to tangible assets that can preserve value while also being enjoyed.

“High-net-worth individuals (HNWIs) are increasingly allocating capital towards tangible, collectable assets that combine personal enjoyment with long-term investment potential,” the report stated.

Art remains the most sought-after passion investment, with 75 per cent of wealth managers saying their clients are buying artworks, up from 72 per cent in 2025.

Knight Frank said the growing demand is driven by the rising recognition of Kenyan artists locally and internationally, making art an attractive investment while supporting local talent.

Luxury watches came second, with the report saying that the rich are increasingly attracted to premium timepieces because they are portable, discreet and capable of retaining or appreciating over time.

“Watches emerged as the second-most-popular passion investment in 2026, reflecting growing interest in portable luxury assets,” the report disclosed.

Classic cars ranked third among the preferred investments of passion, with many wealthy Kenyans drawn by their rarity, prestige and growing collector demand. 

At the same time, the report noted that limited supply and increasing international interest continue to support values for select models, making them attractive additions to diversified investment portfolios.

“Classic vehicles continue to symbolise prestige, exclusivity and personal achievement,” the report indicated.

Jewellery comes in fourth, with the wealthy viewing high-quality branded pieces as portable stores of wealth capable of preserving value during periods of inflation and market uncertainty.

Rounding off the top five is fine wine, which continues to gain traction as an alternative investment among the high-net-worth individuals in the country. 

Further, according to the report, easier access to global wine markets and increased demand for tangible assets have made collectable wines an increasingly attractive component of diversified portfolios.

“Wine is increasingly viewed as a legitimate component of a diversified wealth portfolio.”