Africa’s Ultra-Wealthy Double South Africa Property Buys as Cape Town Draws New Millionaires
Updated
Updated · Business Insider Africa · Jun 5
Africa’s Ultra-Wealthy Double South Africa Property Buys as Cape Town Draws New Millionaires
3 articles · Updated · Business Insider Africa · Jun 5
Summary
Standard Bank said clients with at least $50 million in investable assets more than doubled residential and commercial property acquisitions in South Africa in the 12 months to September 2025.
Lower interest rates after the South African Reserve Bank began cutting in 2024 helped fuel the buying, while wealthy investors kept using property to preserve wealth, diversify holdings and generate long-term income.
South Africa’s appeal is centered on the Western Cape: average residential purchase values by wealthy buyers rose 38%, and Cape Town has strengthened its position as Africa’s wealth capital for local and foreign affluent migrants.
Across Kenya and Ghana, rich investors are also targeting offices, estates and logistics assets as inflation and currency weakness push property’s role as a hedge; nearly two-thirds of commercial purchases were industrial.