Cape Town's luxury property market booms as sales near R800m

📆 2024/05/16 13:53:00

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Cape Town’s high-end real estate market has shown unexpected growth, with sales nearly reaching R800 million during the first quarter of 2024. Also read: Cape Town offers best property rates of SA’s cities for 2024/25 According to Lightstone data, South Africa boasts a robust property market, as purchase prices averaged below R1.5 million.

📆 2024/05/16 13:53:00
📰 CapeTownEtc

⏱ Reading Time:
19 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 63%

Cape Town’s high-end real estate market has shown unexpected growth, with sales nearly reaching R800 million during the first quarter of 2024.According to Lightstone data, South Africa boasts a robust property market, as purchase prices averaged below R1.5 million. Between January and March, about 47 276 transactions worth just over R65 billion were recorded.

Although only 9% of property transactions were above R3 million, this sector generated R23.7 billion at an average price of around R5.5 million. The number of properties that sold for R20 million and more in Clifton, Camps Bay and the Waterfront has increased over the past three years, says Ross Levin, a licensee for Seeff Atlantic Seaboard and City Bowl.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Senior Applications Business Analyst - LW - Western Cape Cape TownIT Industry News. Daily.
Read more »