Despite South Africa generally struggling with poor governance and heavy cost of living pressures, Cape Town’s luxury property market is hip and happening.
The global real estate specialists released their 2023 Wealth Report, which shows that prime residential prices in Cape Town skyrocketed in 2022, with our city climbing to 31st from 94th on the Prime International Residential Index the year prior. While Monaco has the most expensive residential market in the world, the region with the largest prime residential increase in 2022 was the United Arab Emirates’ Dubai, which saw a whopping 44,2% jump.
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