Record sales to international buyers in Cape Town hotspots this year

PROPERTY WRITER

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Correlating strongly with City of Cape Town reports of a record-breaking summer tourism season, international property buyers have invested in record numbers in the City's hotspots, according to the Seeff Property Group.

Propstats data shows that sales worth almost R2.462 billion were concluded in the first five months of this year, the highest in the last five years. The total value for the whole of 2024 was R3.4 billion, and it was similar in the prior year, 2023.

Sales to international buyers reached a record R600 million in February, and R700 million in April across the whole city. More than two thirds (67%) of the total value were generated by sales across the Atlantic Seaboard and City Bowl.

Ross Levin, licensee for Seeff Atlantic Seaboard, says sales activity has been up quite notably this year. For the Atlantic Seaboard alone, sales to international buyers amount to about R530 million for April.

Overall, there were sales in just about all of the suburbs. The highest values recorded are in Camps Bay and Bantry Bay, and the highest volumes in Sea Point (27) and the CBD (32).