Cape Town house price growth expected to pick up

Strong waves pound the Cape coastline. Picture: RUVAN BOSCHOFF

Cape Town has recovered after tourist visitor numbers weakened in 2018 and part of 2019 amid its day-zero water-saving measures, Golding said. But transaction volumes showed some growth during the course of last year. According to Lightstone, house price inflation in Cape Town, at 3.7% from January to September 2019, remained above the national average of 2.6%.

“There may be very little change from last year. The outlook for the Cape remains flat, with about 4% growth at best. At the upper-end market, above R10m, asking prices will remain under pressure and more so above R20m,” he said. Portugal’s capital, Lisbon, is forecast to have the highest prime price growth among the 27 countries indexed, at 6%-8%.

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