Cape Town has overtaken other African cities to become the continent’s most expensive market for prime property.
According to BusinessTech, the average prices for high-end real estate are now reported at about R102,750 per square metre.
The finding appears in the Africa Wealth Report 2025, published by Henley & Partners in partnership with New World Wealth, which ranks cities by luxury property values and concentration of high-net-worth individuals. The report places Cape Town ahead of long-standing rivals, citing strong demand for sea-facing apartments and prestige suburbs.
Statistics South Africa market data show Cape Town’s property values have risen steeply over the last decade, with analysts and press outlets reporting increases of roughly 160% since 2010.
Official statistics track large, sustained gains in the city’s residential price index over recent years.
The Cape Town market is driven by foreign and local buyers
Foreign and local buyers are driving the premium. Lightstone data indicate the Western Cape accounted for around 40% of transactions above R10 million in 2024, underscoring concentrated activity at the top end of the market.
The broader housing market is showing signs of steady recovery. The Pam Golding Residential Property Index reported national house price inflation and highlighted strong growth in the Western Cape, with luxury and coastal properties recording the most momentum.
Andrew Golding of Pam Golding notes robust investment demand in the province.
For residents and potential buyers the figures carry practical consequences. Professionals in the sector say Cape Town’s unique mix of natural amenity, lifestyle appeal and a growing wealthy population has created a new continental benchmark for luxury property.
Written by Angelica Rhoda
First published by Cape {Town} etc
Also see: Kirstenbosch: Cape Town’s Garden Jewel That the World Can’t Stop Talking About
