(Clifton, Cape Town. Gallo Images)
Cape Town and Jozi make top cities list for ultra-rich property buyers
Hardly a surprise to anyone who has tried to buy (or rent) property in Cape Town recently.
(Clifton, Cape Town. Gallo Images)
If you live in Cape Town – or if you’re trying to move there – you’ve properly noticed what a complete nightmare property prices are. Johannesburg is slightly better, but for many of us, buying a house in the current climate is neigh on impossible.
It’s no surprise then that both these cities have been ranked in the top 50 “alpha cities” in the world.
According to the Wealth-X Global Property Handbook these are cities which attract the “ultra-rich” when investing in luxury real estate. The ultra-rich are people with a networth of $30m (about R400m) or more.
The first edition of the handbook, compiled in collaboration with Warburg Realty and Barnes International Realty, ranks Cape Town as 37th in the world. The Mother City comes in just behind Dubai in 36th as is on par with Oslo, Basel and Moscow.
Jozi is ranked 46th, just below Sao Paulo, Dublin, Mumbai and Kuwait and ranked higher than Guangzhou and Abu Dhabi.
Hardly surprising is London being ranked first followed by New York, Tokyo, Sydney, Paris, Chicago, San Francisco, Osaka, Toronto and Washington.
