The Impact of an Active Real Estate Markets in Desgnated UNESCO World Heritage Towns, the Case of Old Lamu Town in Kenya

Property prices in Lamu Old Town, Kenya, have nearly tripled due to speculation surrounding the LAPSSET corridor project, despite its designation as a UNESCO World Heritage Site and protected national monument. This rapid price surge threatens local landowners while raising concerns about balancing heritage conservation with economic development. The study analyzed real estate market changes post-LAPSSET announcement through field surveys, revealing that speculative demand has outpaced local livelihood considerations. Recommendations emphasize integrating community welfare into both conservation strategies and urban planning to prevent displacement and preserve Lamu's cultural integrity.

Kariuki, C., Nzioki, N., & Murigu, J. (2014). THE IMPACT OF AN ACTIVE REAL ESTATE MARKETS IN DESGNATED UNESCO WORLD HERITAGE TOWNS, THE CASE OF OLD LAMU TOWN IN KENYA. Urban Real Estate Markets: A Catalyst for Economic Growth and Development - the 14th African Real Estate Society Conference. https://doi.org/10.15396/afres2014_130