South Africa · Africa · Population: 4,800,000
Cape Town is relatively affordable for homebuyers, with steady growth in property values. The city has affordable rents compared to global standards. At $180,000 average home price in South Africa, buyers should consider the 6.2x price-to-income ratio when planning a purchase.
| Average Home Price | $180,000 |
| Price per sqm | $2,500 |
| Price-to-Income Ratio | 6.2x |
| Mortgage Rate | 11.5% |
| 1-Year Price Change | +3.5% |
| 1-Bedroom Apartment | $800/mo |
| 3-Bedroom Apartment | $1,400/mo |
| Rent-to-Income Ratio | 28% |
| Median Household Income | $29,000/year |
| Years to Buy (at median income) | 6.2 years |
| Local Currency | ZAR |
With a price-to-income ratio of 6.2x, Cape Town offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 3.5% in the past year.
Cities worldwide with home prices closest to Cape Town
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