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The top prime property hotspots in Africa for 2019

14 Oct 2019

AfrAsia Bank and New World Wealth  recently reviewed the most expensive cities in Africa for prime residential property as part of their 2019 Africa Wealth Report

This apartment in prestigious Clifton, Cape Town, offers the ultimate in beachfront living with unobstructed ocean views. It is selling for R65 million - click here to view.

According to the report, residential property normally constitutes between 25% and 30% of the net assets of an average wealthy person (HNWI) living in Africa.

Popular properties include luxury apartments, beachfront villas and homes in residential estates, says head of research at New World Wealth, Andrew Amoils.

The most expensive cities/towns for residential property in Africa are ranked below.

These indices refer to the US$ price of a 200-400 square metre apartment in the most exclusive part of each city or town. So for example, in Cape Town, the focus would be on the top apartment complexes in Clifton and Bantry Bay, says Amoils.

This Penthouse in Umhlanga offers uncompromising luxury and seamless flow between sumptuous interior spaces and a glorious entertainment area. It is priced at R30 million - click here to view.

Major cities ranked by price per square metre (Figures for Dec 2018): 

  • Cape Town: $5 600
  • Umhlanga: $2 800
  • Johannesburg (Sandton): $2 600
  • Nairobi: $1 800
  • Marrakesh: $1 700
  • Tangier: $1 700
  • Casablanca: $1 500
  • Luanda: $1 300
  • Accra: $1 200
  • Lagos: $1 100
  • Abidjan: $1 000
  • Alexandria: $1 000
  • Maputo: $900
  • Cairo: $900
  • Kampala: $800

 

This fully furnished five bedroom, three storey penthouse in Sandhurst Towers offers an executive lifestyle in the hub of Sandton. It is on the market for R48 million - click here to view.

For more findings from the 2019 Africa Wealth Report, click here. 

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