Africa’s luxury property market is shifting fast, and South Africa is leading the charge.
The newly released Africa Wealth Report 2025 by Henley & Partners places Cape Town at the top of the continent’s most expensive cities, where prime real estate averages USD 5 600 per square metre.
But Cape Town isn’t standing alone. South Africa dominates the rankings, with five cities in the Top 10 -showing just how much wealth and property demand are concentrating in the country.
South Africa’s grip on the top spots in Africa
According to the report, these are Africa’s most expensive cities for prime residential property:
| City/town | Country | USD/m² |
|---|---|---|
| Cape Town | South Africa | $5 800 |
| Tamarin (Black River) | Mauritius | $4 500 |
| Marrakech | Morocco | $3 000 |
| Hermanus (Whale Coast) | South Africa | $2 600 |
| Plettenberg Bay (Garden Route) | South Africa | $2 400 |
| Franschhoek (Cape Winelands) | South Africa | $2 000 |
| Umhlanga & Ballito | South Africa | $1 900 |
| Central Sandton (Johannesburg) | South Africa | $1 800 |
| Tangier | Morocco | $1 700 |
| Cairo | Egypt | $1 600 |
The numbers highlight a clear trend: South Africa is home to half of Africa’s most expensive cities.
And several forces explain why Cape Town is pulling ahead.
These include high-end suburbs and lifestyle appeal in prestigious neighbourhoods such as Clifton, Camps Bay, Constantia, Fresnaye, and Bantry Bay, which remain magnets for wealthy buyers.
For foreign investors, Cape Town also offers unmatched bang for the buck. One million dollars buys around 178 m² of prime property here – compared to just 29 m² in London or 26 m² in New York.
South Africa’s dominance in the report signals both opportunity and inequality. On one hand, it cements the country as Africa’s luxury property powerhouse. On the other hand, it raises questions about affordability in cities where average citizens face mounting cost-of-living pressures.
Still, for global investors and the wealthy elite, the message is clear: South Africa, especially Cape Town, remains the continent’s premier destination for high-end real estate.
Which SA city would you like to own property in?
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