Cape Town, South Africa
Property prices · 2024 · Africa
Property price trend in Cape Town (2024–2026)
Property comparison — cities in South Africa (2024)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs Cape Town |
|---|---|---|---|---|
| Cape Town | ZAR 42,000 | ZAR 25,000 | ZAR 15,000 | — |
| Johannesburg | ZAR 28,000 | ZAR 17,000 | ZAR 9,500 | -33.3% |
| Durban | ZAR 22,000 | ZAR 14,500 | ZAR 7,500 | -47.6% |
| Pretoria | ZAR 18,000 | ZAR 11,800 | ZAR 6,200 | -57.1% |
Other Africa cities (2024)
Frequently asked questions
How much does property cost in Cape Town in 2024?
In Cape Town, the average price per sqm in the city centre is ZAR 42,000, and ZAR 25,000 outside the centre (2024 data). Prices have risen 7% since 2024.
How much is rent in Cape Town in 2024?
A 1-bedroom apartment in Cape Town rents for approximately ZAR 15,000 per month in 2024. A 3-bedroom apartment costs around ZAR 28,000/month.
Is it better to buy or rent in Cape Town?
Buying and renting are roughly comparable in Cape Town. The price-to-rent ratio is 16.0x — it would take approximately 16.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 11.50%.
What are mortgage rates in South Africa in 2024?
The average mortgage rate in South Africa is approximately 11.50% as of 2024. With a price-to-rent ratio of 16.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in Cape Town?
The average property price per square metre in Cape Town city centre is ZAR 42,000 in 2024. Outside the centre, expect to pay around ZAR 25,000/sqm.