Lifestyle

Amount to buy for $ 1 million in Cape Town and elsewhere

Wealth expert Knight Frank has released the latest report on the luxury home market. 2020 PIRI100 Review Shows how much $ 1 million (or about $ 14.5 million) can go to the ladders of various real estate properties around the world. Cape Town is on the list, alongside 19 other luxury cities. The result is spectacular.

Pandemic devastates Cape Town real estate market

Cape Town Real Estate Market Last year it fell by more than 9%, losing only to Buenos Aires, Argentina. Buenos Aires has a 12% collapse in the leasing market. According to experts, a complex system for buyers is hampering recovery efforts. However, in some “hit” countries, such problems have not occurred.

“Buenos Aires (-12%) is at the bottom of the year. Real estate prices are in US dollars, but mortgages are only offered in pesos, not to mention capital restrictions, buying real estate in Argentina It’s not easy. “

“Despite the Asian market occupying many of the top PIRI rankings, Australasia and North America were the best performing regions in 2020, with annual average growth of 4.9% and 6.3%, respectively. Demand has skyrocketed in the region as well, as blockades have been eased and homeowners have reassessed their lifestyles. ” | Knight Frank

What can I buy for $ 1 million in Cape Town?

From all the data shared by Knight Frank on Tuesday, the figure below provides the most visually appealing information. The group looked at the number of square meters of prime land that could be purchased for $ 1 million. In some cities it’s not as much as buying a box room, but in others you can live a luxurious life.

Thankfully, Cape Town is in the latter category. In a city comparison, the CPT offers buyers the second best value for money: $ 1 million will land you on the highest 203 sqm property (average) only by São Paulo. Same price. You shouldn’t say much about Monaco, Hong Kong and London.

Photo: Knight Frank

For $ 1 million in Cape Town, you can buy …

6 bedroom homes, prime real estate in Camps Bay, luxury condos:

$ 1,000,000
Photo: Pam Golding

Or you can leave yourself in the most popular suburban desirable space.

Cape Town Real Estate $ 31 Million
Photo: Remax

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Amount to buy for $ 1 million in Cape Town and elsewhere

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