Cape City is formally dwelling to the costliest property in Africa, with prime actual property now averaging R102 750 per sq. metre. In truth, because the 2010 World Cup, actual property costs in Cape City have elevated by 160%. These values outpace South Africa’s monetary hub, Johannesburg, by greater than double.
Flats sized between 100 – 200 sq. metres within the metropolis are actually valued greater than anyplace else on the continent. The most costly property in Africa is attributed to Cape City’s pure magnificence, life-style enchantment and rising focus of rich worldwide homeowners. 40% of all property purchases above R10 million in 2024 had been in Cape City. And Cape City outperformed different metropoles with an annual development of seven.4%.
MOST EXPENSIVE PROPERTY IN AFRICA
That is in response to a brand new Africa Wealth Report compiled by Henley & Companions. The aforementioned knowledge tracks wealth developments throughout the continent, together with the costliest property in Africa. Lately a serious worldwide hotelier revealed plans to buy and repurpose prime land within the CBD for a brand new resort.
As such, South Africa stays the biggest wealth market on the continent, confirms the report. It’s dwelling to 41 000 millionaires and eight billionaires. This accounts for 34% of Africa’s whole millionaire inhabitants. Curiously, whole resident wealth remains to be highest in Johannesburg, with 11 700 millionaires calling it dwelling. Particularly, within the Sandton and new Waterfall – Midrand space.
CAPE TOWN RISING
In addition to having the costliest property in Africa, Cape City is dwelling to eight 500 millionaires and 35 centi-millionaires ($100 million or extra). On the present charge of development, Cape City will overtake Johannesburg for whole personal wealth by 2030. However how do different African cities fare?
Cairo is third with 6 800 millionaires and 5 billionaires.
Nairobi ranks fourth with 4 200 millionaires.
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