Cape Town Tops the List as Africa’s Most Expensive Property Market

Cape Town has done it again — this time making headlines as the most expensive city on the African continent to buy property.

According to the latest Africa Wealth Report, the Mother City has officially overtaken other major hubs like Johannesburg, Cairo, and Nairobi. Prime real estate in Cape Town is now averaging R102,750 per square metre — a clear sign of the city’s growing prestige in both lifestyle and investment circles.

Why Cape Town is in Such High Demand

It’s no secret that Cape Town’s natural beauty, mountain-meets-ocean lifestyle, and world-class amenities have made it a global destination. Add to that a strong influx of wealthy local and international buyers, and it’s easy to see why demand continues to push prices higher.

Since 2010, property prices in the city have skyrocketed by 160%, leaving Johannesburg far behind with less than half that growth. For many buyers, Cape Town has become the benchmark for luxury living on the continent.

The Bigger Wealth Picture

South Africa as a whole remains Africa’s wealth powerhouse, with over 41,000 millionaires calling it home. Johannesburg still leads in total resident wealth thanks to business hubs like Sandton and Waterfall–Midrand. But Cape Town is fast catching up — already boasting the continent’s highest number of centi-millionaires (individuals worth over $100 million).

Analysts predict that by 2030, Cape Town could surpass Johannesburg completely in overall private wealth.


What This Means for Property Buyers and Investors

For investors, Cape Town’s surge proves one thing: the city offers not only a spectacular lifestyle but also serious long-term value. International buyers view the city as a safe haven for wealth, while local buyers continue to compete in a fast-moving luxury market.

For anyone looking to invest, Cape Town shows how South Africa remains a strong contender in the global property arena.