Two out of five houses valued above R20m in SA owned by foreign nationals
Foreign buyers continue to play a significant role in South Africa’s luxury property market, with new data showing that foreigners own two out of every five homes valued at more than R20 million.
While foreign buyers made up a relatively small share of the period’s transactions, they accounted for 15% of transactions on properties valued between R4 million and R10 million, 26% between R10 million and R20 million and 39% for properties above R20 million.” Half of properties in Bakoven and Camps Bay owned by foreigners The data company highlighted that Bakoven and Camps Bay have just under 50% foreign-buyer participation and average values of around R16 million to R17 million.
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