Cape Town property: why now is the time to buy
The Mother City looks poised to regain its former glory as SA’s prime property investment hotspot after three bleak years. But the latest price moves mean the chance to get in cheaply might be short-lived
Cape Town’s housing market finally seems to be emerging from its three-year slump. Until early 2018, the city was widely regarded as SA’s top property investment destination. Between 2012 and 2017, Cape Town house prices virtually doubled and regularly topped UK-based Knight Frank’s global house price charts, placing the city as the best-performing in the world.
But the upward march in sales volumes and prices came to an abrupt end in 2017/2018, when Cape Town was hit by drought. The city’s prospects as a semigration hotspot among upcountry buyers further faded on the back of rising political infighting in the DA-led local government...