Editing Cape Town (section)

===Home ownership===

The city has for years had the most expensive average [[home]] price in South Africa. In September 2024, the average [[property]] price in Cape Town was [[South African rand|R]]2.23 million. This was an increase of 36% from the average price of R1.63 million in 2014 (a decade before), indicating consistently strong returns on [[investment]] for those in the Cape Town property market. Sellers often get their asking price, or within 5% of it.<ref name= "Airbnb trend hiking property sales in Cape Town’s CBD">{{cite web|url= https://www.property24.com/articles/airbnb-trend-hiking-property-sales-in-cape-towns-cbd/24748 |title= Airbnb trend hiking property sales in Cape Town’s CBD |author= |publisher= Property24 |date= 26 September 2016 |access-date= 15 May 2025 }}</ref><ref name= "Dark clouds for Cape Town property and its residents">{{cite web|url= https://businesstech.co.za/news/property/789624/dark-clouds-gather-for-cape-town-property-and-its-residents/ |title= Dark clouds for Cape Town property and its residents |author= Malcolm Libera |publisher= BusinessTech |date= 5 September 2024 |access-date= 15 May 2025 }}</ref>

The local property market grows at a rate far exceeding that of other major metropolitan areas in the country. For example, Statistics South Africa (Stats SA) reported that between January 2010 and November 2022, Cape Town property prices increased at around double the rate of those in Johannesburg.<ref name= "Stats SA’s new property price index: Cape Town has become more expensive">{{cite web|url= https://www.statssa.gov.za/?p=16242 |title= Stats SA’s new property price index: Cape Town has become more expensive |author= |publisher= Stats SA |date= 13 April 2023 |access-date= 15 May 2025 }}</ref>

To afford the average home in Cape Town, a salary of over R80,000 per month is required, which is significantly higher than in other provinces, and around 3 times the national average salary in South Africa.<ref name= "56 jobs that pay more than the average salary of R28,300 in South Africa">{{cite web|url= https://businesstech.co.za/news/wealth/818153/56-jobs-that-pay-more-than-the-average-salary-of-r28300-in-south-africa/#:~:text=Stats%20SA's%20latest%20quarterly%20employment,231%20a%20month%20in%20Q4. |title= 56 jobs that pay more than the average salary of R28,300 in South Africa |author= Staff Writer |publisher= BusinessTech |date= 26 March 2025 |access-date= 15 May 2025 }}</ref> The [[Western Cape]] province in general requires far higher salaries for affording to purchase the average property than in other provinces.<ref name= "Here’s what it takes to afford a home in South Africa">{{cite web|url= https://www.capetownetc.com/property/what-it-takes-to-afford-a-home-in-south-africa/ |title= Here’s what it takes to afford a home in South Africa |author= Ilze-Mari Van Zyl |publisher= CapeTown ETC |date= 7 September 2024 |access-date= 15 May 2025 }}</ref>

Property in the [[Southern Suburbs, Cape Town|Southern Suburbs]] offers a peaceful lifestyle and is generally more expensive, as is property in the [[Atlantic Seaboard, Cape Town|Atlantic Seaboard]] area, for its ocean views, and property in the [[City Bowl]] region, for its proximity to Cape Town's CBD and amenities. Conversely, property in the [[Cape Flats]] is cheaper on average, as the region is less desirable to live in. The same goes for property in the [[Northern Suburbs, Cape Town|Northern Suburbs]] region, where lower costs are as a result of living further from central Cape Town, and more space to build outwards (both inland and up the west coast).

Some suburbs in Cape Town have had exceptionally high property value growth in recent years. For example, in 2025, it was reported that [[Kalk Bay]], an old fishing village in the [[False Bay]] area of Cape Town, had its house prices grow by around R1 million every year since 2020, due to an increase in demand for property in the Western Cape. The average price of a home in the suburb rose from R4.9 million in 2020 to R9 million at the start of 2025; an 83% increase over that 4-year period, or over 20% per year. One reason for this kind of housing price growth in Cape Town is the local municipality's investments in maintaining and upgrading neighborhoods, to create an attractive environment for residents to live.<ref name= "The South African fishing village where house prices increased by R1 million every year since 2020">{{cite web|url= https://businesstech.co.za/news/property/823542/the-south-african-fishing-village-where-house-prices-increased-by-r1-million-every-year-since-2020/ |title= The South African fishing village where house prices increased by R1 million every year since 2020 |author= Malcolm Libera |publisher= BusinessTech |date= 10 May 2025 |access-date= 15 May 2025 }}</ref><ref name= "One area where house prices increased by over R4 million in 5 years">{{cite web|url= https://dailyinvestor.com/property/87030/one-area-where-house-prices-increased-by-over-r4-million-in-5-years/ |title= One area where house prices increased by over R4 million in 5 years |author= Kirsten Minnaar |publisher= Daily Investor |date= 13 May 2025 |access-date= 15 May 2025 }}</ref>

Property prices in Cape Town are around double the national average of R1.41 million, according to home loan statistics. In the fourth quarter of 2023, the national average home price recorded its second consecutive decrease. Meanwhile, Cape Town property prices have continued to increase.<ref name= "What the average house price in South Africa gets you in Joburg, Durban and Cape Town">{{cite web|url= v |title= What the average house price in South Africa gets you in Joburg, Durban and Cape Town |author= Luke Fraser |publisher= BusinessTech |date= 3 February 2024 |access-date= 15 May 2025 }}</ref><ref name= "Super luxury home-sales boom, Joburg buyers pay more for Cape Town houses">{{cite web|url= https://www.bizcommunity.com/article/super-luxury-home-sales-boom-joburg-buyers-pay-more-for-cape-town-houses-811283a |title= Super luxury home-sales boom, Joburg buyers pay more for Cape Town houses |author=  |publisher= Bizcommunity.com |date= 21 November 2024 |access-date= 15 May 2025 }}</ref>

Cape Town's property values increase on average around 10% per year. The consistently strong property prices and growth thereof can be attributed to numerous factors, including good service delivery by local government, a strong local economy, the coastal lifestyle that Capetonians enjoy, and semigration (individuals moving from other South African provinces into the Western Cape).<ref name= "What the average house price in South Africa gets you in Joburg, Durban and Cape Town"></ref><ref name= "Super luxury home-sales boom, Joburg buyers pay more for Cape Town houses"></ref>

Cape Town trends among the top 20 cities worldwide for capital value growth, further increasing the attractiveness of owning a home in the city.<ref name= "Cape Town's foreign buyer hotspots and top prices paid for luxury homes">{{cite web|url= https://atlanticseaboard.seeff.com/news/cape-towns-foreign-buyer-hotspots-and-top-prices-paid-for-luxury-homes/ |title= Cape Town's foreign buyer hotspots and top prices paid for luxury homes |author= |publisher= Seeff |date= 31 October 2019 |access-date= 15 May 2025 }}</ref>

Cape Town housing is in short supply due to a number of issues, including [[NIMBY|NIMBYISM]], delays in approvals for social housing, a lack of space to build outwards, and an increase in properties listed as short-term Airbnb rentals.<ref name= "Dark clouds for Cape Town property and its residents"></ref><ref name= "Cape Town's Southern Suburbs: Rising prices and shorter listing times">{{cite web|url= https://www.bizcommunity.com/Article/196/368/244135.html |title= Cape Town's Southern Suburbs: Rising prices and shorter listing times |author= |publisher= Bizcommunity.com |date= 27 November 2023 |access-date= 15 May 2025 }}</ref>

In early 2025, 14% of homes listed for sale were new to the market. The most common size of properties for sale was 2-bedroom, followed by 3-bedroom properties.<ref name= "Cape Town Property Trends and Statistics"></ref>

The city is home to some of South Africa's most expensive neighborhoods, including [[Constantia, Cape Town|Constantia]] and [[Bishopscourt, Cape Town|Bishopscourt]] in the [[Southern Suburbs, Cape Town|Southern Suburbs]]; [[Tamboerskloof]] and [[Higgovale, Cape Town|Higgovale]] in the [[City Bowl]]; and [[Fresnaye, Cape Town|Fresnaye]], [[Camps Bay]], [[Clifton, Cape Town|Clifton]], [[Llandudno]], and [[Bantry Bay, Cape Town|Bantry Bay]] in the [[Atlantic Seaboard]]. Affluent areas are popular with international buyers from countries including the [[United Kingdom]], the [[Netherlands]], [[Germany]], and [[France]], with some purchasing homes around R60 million (~ £2.5 million / €3 million / US$3.3 million).<ref name= "Clifton Remains Cape Town's Most Expensive Suburb to Buy Property">{{cite web|url= https://propertywheel.co.za/2024/08/clifton-remains-cape-towns-most-expensive-suburb-to-buy-property/ |title= Clifton Remains Cape Town's Most Expensive Suburb to Buy Property |author= PropertyWheel_G |publisher= Property Wheel |date= 20 August 2024 |access-date= 15 May 2025 }}</ref><ref name= "Super luxury home-sales boom, Joburg buyers pay more for Cape Town houses"></ref><ref name= "Cape Town's foreign buyer hotspots and top prices paid for luxury homes"></ref> 9 out of South Africa's 10 most expensive suburbs are in Cape Town.<ref name= "Cape Town tops R21billion in transactions">{{cite web|url= https://www.privateproperty.co.za/advice/news/articles/cape-town-tops-r21billion-in-transactions/7300 |title= Cape Town tops R21billion in transactions |author= Press |publisher= Private Property |date= 3 December 2019 |access-date= 15 May 2025 }}</ref>

In 2021, Cape Town's [[residential]] property market was valued at R1.22 trillion, the highest out of all major South African [[Metropolitan municipality (South Africa)|metropolitan areas]]. The city's property market constituted 72% of the entire Western Cape's residential property market value, and 21% of the national property market value. The city had significantly more homes valued in the luxury market segment (at 43% of the total) than in any other major South African metro area. In the same year, there were around 800,000 residential properties located in Cape Town. 76% of those were detached homes, 15% were apartments, and 9% were semi-detached homes.<ref name= "Cape Town Housing Market Report - 2021">{{cite web|url= https://housingfinanceafrica.org/app/uploads/2022/03/CT-Report-2021-V3-FINAL.pdf |title= Cape Town Housing Market Report - 2021 |author= |publisher= Centre for Affordable Housing Finance in Africa |date= |access-date= 17 November 2024 }}</ref>

As of April 2025, Cape Town had a home ownership rate of 6.6% among those aged 18 to 35; 22.7% among those aged 36 to 49; 35.7% for those aged 50 to 64; and 35% for those aged 65 or older. In the same month, 25.8% of new home buyers in Cape Town were aged 18 to 35.<ref name= "Cape Town Property Trends and Statistics"></ref>