select
|

Cape Town top of the property hotspot list in Africa

According to the quarterly report from New World Wealth, Cape Town tops the list of top prime property hotspots in Africa for the third quarter of 2017.



The Atlantic Seaboard suburbs of Clifton and Bantry Bay where you can expect to pay R82 000/m² are mentioned in the report.

This is analyses is part of the Global Wealth Migration Review.

The study looked at prices of apartments of between 200m² and 400m² in size located in prime areas of a city or town.


6 Bedroom House for sale in Bantry Bay, Cape Town

According to Andrew Amoils, head of research at New World Wealth, the research also benchmarks the top African and Middle Eastern cities against the worldwide list.

Grand-Baie and Port Louis in Mauritius, with prices of about R71 000/m² came in second place, followed by Sandton in Johannesburg (about R40 000/m²) and Umhlanga in Durban (about R31 000/m²).


4 Bedroom House for sale in Clifton, Cape Town

They were followed on the African list by Luanda in Angola (about R25 000/m²), Nairobi in Keyna (about R24 000/m²) and Lagos in Nigeria (about R17 000/m²).

Monaco, meanwhile, topped the worldwide top 30 list with apartment space costing R678 000/m².

It was followed by New York at about R522 000/m², which overtook London (about R494 000/m²) this year. 

St Tropez in France (about R466 000/m²) came in 4th place on the global list, followed by St Jean Cap Ferrat in France (about R452 000/m²), Hong Kong (about R395 000/m²) and Geneva in Switzerland (about R367 000/m²). 
 
Amoils said prices in New York, Sydney (about R353 000/m²), Beijing (about R170 000/m²) and Shanghai (about R17 000/m²) all rose strongly over the past 12 months, while prices in London, Paris (about R254 000/m²) and Rome (about R184 000/m²) were all down in dollar terms.



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK