A global report released last week, providing insight for growth in the global property market for 2016, has left Cape Town in a positive light, trumping major cities such as Paris, New York, Milan, Tokyo and Moscow.
This comes off the back of last week’s news that property investment is absolutely booming at the moment. In the report, Cape Town came out at 92 out of 150 cities.
Now, on paper, this doesn’t sound like a spectacular ranking, but when you consider Cape Town’s property growth of 3.9% in 2016, coming out tops over some capital cities and major players in the international tourism game, it is undoubtedly a triumph.
On the list, the nearest South African city to Cape Town was Johannesburg, ranking at 109 out of the 150 cities and achieving a reported growth of 2.2% last year. Durban’s rank dropped into the bottom 10 with a decline of -5.1%. Interestingly enough, the top ten performers for 2016 consisted of eight Chinese cities.
This unprecedented growth in Cape Town really stems from its lifestyle, with a burgeoning food and travel scene making it the premier city to travel to in South Africa.
Source News24
Photography Clinton Naik / Unsplash