Cape Town – Cape Town tops the list of top prime property hotspots in Africa, according to a quarterly report by New World Wealth for the third quarter of 2017.
The city’s Atlantic Seaboard suburbs of Clifton and Bantry Bay – which sell at about R82 000/m² – are mentioned in the report.
New World’s Wealth analyses prime property hotspots around the world as part of its Global Wealth Migration Review.
The study looked at prices of apartments of between 200m² and 400m² in size located in prime areas of a city or town.
According to Andrew Amoils, head of research at New World Wealth, the research also benchmarks the top African and Middle Eastern cities against the worldwide list.
Grand-Baie and Port Louis in Mauritius, with prices of about R71 000/m² came in second place, followed by Sandton in Johannesburg (about R40 000/m²) and Umhlanga in Durban (about R31 000/m²).
They were followed on the African list by Luanda in Angola (about R25 000/m²), Nairobi in Keyna (about R24 000/m2) and Lagos in Nigeria (about R17 000/m²).
Monaco, meanwhile, topped the worldwide top 30 list with apartment space costing R678 000/m².
It was followed by New York at about R522 000/m², which overtook London (about R494 000/m²) this year.
Monaco: R678 000/m²
St Tropez in France (about R466 000/m²) came in 4th place on the global list, followed by St Jean Cap Ferrat in France (about R452 000/m²), Hong Kong (about R395 000/m²) and Geneva in Switzerland (about R367 000/m²).
London: R494 000/m²
Amoils said prices in New York, Sydney (about R353 000/m²), Beijing (about R170 000/m²) and Shanghai (about R17 000/m²) all rose strongly over the past 12 months, while prices in London, Paris (about R254 000/m²) and Rome (about R184 000/m²) were all down in dollar terms.
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