{"id":827066,"date":"2025-06-14T16:00:00","date_gmt":"2025-06-14T14:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=827066"},"modified":"2025-06-23T08:46:21","modified_gmt":"2025-06-23T06:46:21","slug":"foreigners-spent-over-r1-billion-to-live-in-one-south-african-city","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/827066\/foreigners-spent-over-r1-billion-to-live-in-one-south-african-city\/","title":{"rendered":"Foreigners spent over R1 billion to live in one South African city"},"content":{"rendered":"\n

International buyers have spent over R1 billion buying properties across the Western Cape\u2019s City of Cape Town. <\/p>\n\n\n\n

This was outlined by Seeff Property Group, which noted that Cape Town continues to be one of the most desirable destinations for international property buyers.<\/p>\n\n\n\n

The surge in international buyers shows a marked increase from previous years and reflects sustained confidence in the city\u2019s real estate market.<\/p>\n\n\n\n

Propstats data reveals that property sales across Cape Town reached nearly R2.5 billion in the first five months of 2025.<\/p>\n\n\n\n

The highest figure in the last five years. Sales to international buyers hit R600 million in February and R700 million in April, bringing the year-to-date figure to well over R1 billion. <\/p>\n\n\n\n

According to the Seeff Property Group, this unprecedented interest aligned closely with the City of Cape Town\u2019s reported record-breaking summer tourism season.<\/p>\n\n\n\n

This reinforced the city\u2019s status as a holiday hotspot and a prime investment destination for property investors. <\/p>\n\n\n\n

Ross Levin, licensee for Seeff Atlantic Seaboard, said the activity has been up quite notably this year, particularly across the Atlantic Seaboard and City Bowl. <\/p>\n\n\n\n

These two areas alone accounted for around 67% of all international property sales in Cape Town, underlining their appeal to overseas investors. <\/p>\n\n\n\n

In April alone, foreign buyers spent about R530 million on properties in the Atlantic Seaboard. <\/p>\n\n\n\n

\u201cWe\u2019ve seen sales across just about all suburbs, with Camps Bay and Bantry Bay commanding the highest values, and Sea Point and the CBD leading in transaction volumes,\u201d Levin said.<\/p>\n\n\n\n

This year, buyers from over 40 countries have invested in Cape Town real estate. German nationals accounted for the highest number of transactions, followed by buyers from the UK, Netherlands, Switzerland, and other parts of Europe. <\/p>\n\n\n\n

Levin added that American interest has also increased, especially in Sea Point, Bantry Bay, Mouille Point, and the City Bowl. <\/p>\n\n\n\n

Houses being sold for tens of millions<\/h2>\n\n\n
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House in Camps Bay sold by Seeff for R21 million to a buyer from Germany.<\/em><\/figcaption><\/figure><\/div>\n\n\n

\u201cIt\u2019s clear that Cape Town\u2019s combination of lifestyle and property value continues to draw international attention,\u201d he said.<\/p>\n\n\n\n

Foreign buyers from across the African continent have also made a notable return. Levin noted that Seeff has recorded sales to nationals from 12 African countries, with Nigeria standing out in value and volume. <\/p>\n\n\n\n

Other countries include Angola, Cameroon, Congo, eSwatini, Gabon, Ghana, Mauritius, Mozambique, Namibia, Tanzania, and Zambia. <\/p>\n\n\n\n

Among the standout transactions are a R29.5 million sale to a buyer from eSwatini at the V&A Waterfront, and two other high-value sales to German nationals\u2014R21 million in Camps Bay and R29 million at the Waterfront.<\/p>\n\n\n\n

While the Atlantic Seaboard remains a major magnet for international money, other parts of the city are also seeing strong demand. <\/p>\n\n\n\n

Suburbs such as Constantia and Bishopscourt in the Southern Suburbs, the False Bay towns of Muizenberg and Fish Hoek, and coastal areas like Kommetjie, Scarborough, Hout Bay, and Blouberg are all attracting foreign interest. <\/p>\n\n\n\n

Seeff agent Marlene Picksley concluded a sale of R16.5 million to a buyer from the USA in Sunset Beach, Blouberg.<\/p>\n\n\n\n

Hout Bay in particular has emerged as a favourite among European and American investors. <\/p>\n\n\n\n

According to Stephan Cross, manager for Seeff Hout Bay and Llandudno, the area recorded 37 sales to foreign buyers this year alone, with prices ranging from R5 million to R25 million.<\/p>\n\n\n\n

 \u201cThe Hout Bay market has been especially hot, with strong sales activity and limited stock. It\u2019s a good time for sellers,\u201d said Cross. <\/p>\n\n\n\n

Propstats confirmed that Hout Bay\u2019s total sales for the year have already topped R600 million, following a record R1.3 billion last year. These levels are comparable to the post-COVID property boom of 2022.<\/p>\n\n\n\n

According to Levin, the city\u2019s Mediterranean climate, cosmopolitan lifestyle, and excellent amenities continue to drive foreign demand.<\/p>\n\n\n\n

\u201cThey often spend more per capita, and typically upgrade homes or inject further capital into the local economy. It\u2019s a significant source of foreign income for Cape Town.\u201d<\/p>\n\n\n\n

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Atlantic Seaboard and City Bowl <\/h2>\n\n\n\n
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International buyers from Europe, America, and Africa have spent over R1 billion buying properties across just one South African city. <\/p>\n","protected":false},"author":92,"featured_media":827123,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[22778,22779,2356,22777,11693,853],"class_list":["post-827066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-atlantic-seaboard","tag-city-bowl","tag-city-of-cape-town","tag-propstats","tag-seeff-property-group","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/827066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=827066"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/827066\/revisions"}],"predecessor-version":[{"id":828943,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/827066\/revisions\/828943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/827123"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=827066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=827066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=827066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}