Cape Town's apartments, especially at the top end of the market, are among the most expensive in the world, according to the Global Property Guide.
While London, New York and Moscow are the world's most expensive cities in which to buy an apartment, South Africa made it on to the list of close to 50 cities.
The guide said that in South Africa, the price of a 120m2; two-bedroom flat in Cape Town was around US$2,784 (R18,500) per square metre, about twice the price of similar properties in Johannesburg at $1,376 (R9,000) per square metre.
In what is believed to be the highest price ever paid per square metre for residential brick-and-mortar in this country, an 18m2 parking garage in Clifton has been sold for R2-million, R400,000 more than the asking price for an apartment in the same building... - Cape Argus
While London, New York and Moscow are the world's most expensive cities in which to buy an apartment, South Africa made it on to the list of close to 50 cities.
The guide said that in South Africa, the price of a 120m2; two-bedroom flat in Cape Town was around US$2,784 (R18,500) per square metre, about twice the price of similar properties in Johannesburg at $1,376 (R9,000) per square metre.
In what is believed to be the highest price ever paid per square metre for residential brick-and-mortar in this country, an 18m2 parking garage in Clifton has been sold for R2-million, R400,000 more than the asking price for an apartment in the same building... - Cape Argus
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