Prices of luxury Cape Town homes keep on soaring
Cape Town’s prices ended the year to March 19.3% higher compared to the same period in the previous year
Cape Town has registered the world’s second-highest growth in luxury house price rankings for the period March 2017 to March 2018‚ behind Seoul in South Korea. This is according to the Prime Global Cities Index, published by global real-estate consultants Knight Frank. The company said Seoul registered 24.7% annual growth for this period, despite policy makers’ efforts to control price growth‚ including new taxes on owners of multiple properties and tighter lending conditions. Cape Town’s prices ended the year to March 19.3% higher compared to the same period in the previous year. "Although the wider city market is cooling‚ a lack of supply in the prime areas we track in Camps Bay‚ Bantry Bay and the Atlantic Seaboard is pushing prices higher‚" Knight Frank said. Deon de Klerk‚ head of wealth for Africa regions at Standard Bank‚ said Cape Town was fast becoming a truly global holiday destination and an increasingly desirable residential address for SA’s high-net-worth individuals‚ a...
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