If you aren’t aware that Cape Town’s property prices are out of control it’s time for a little wake-up call, because things aren’t about to get any better.
Back in August we told you about the Prime Global Cities Index (HERE), which put us third in the top prime price performers in the second quarter of 2016.
This is obviously problematic for a number of reasons, some of which News24 touches on below:
Regular Capetonians are finding it increasingly difficult to gain a foothold in the local property market, as urbanisation and international investment, among other factors, appear to be driving locals out of the city.
Then there’s the gentrification issue, which has become a hot topic of conversation amongst many in the city and surrounding areas.
That’ll do – over to the video:
Also, blame Jozi (HERE).
[source:news24]
