Cape Town is Africa's most expensive city for residential property
DURBAN - Residential property makes up between 30% and 35% of the net assets of the average Africa High Net Worth Individual according to The AfrAsia Bank Africa Wealth Report from New World Wealth.
A High Net Worth Individual (HNWI) according to the report is a person that is a person that has a wealth of $1 million or more.
Properties that are popular with HNWI include luxury apartments, beachfront villas and homes in residential estates.
Below is a table that shows the top ten most expensive cities in Africa for residential property:
|Ranking||City||US$ per square metre (2017)|
|1.||Cape Town (Bantry Bay and Clifton)||6100|
|2.||Durban (Lagoon Drive in Umhlanga)||2900|
|3.||Johannesburg (Central Sandton)||2800|
The other cities that were also mentioned on the list but didn't feature in the top ten include Lagos, Abidjan, Maputo, Cairo and Kampala.
Follow the Business Report on Instagram here
BUSINESS REPORT ONLINE