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← The MonexusAfrica

Cape Town Luxury Property Market Defies National Trends

Sales above R20 million on the Atlantic Seaboard have increased 35% year-on-year as semigration from Gauteng continues.

By Monexus Staff Writer·South Africa·1-minute read·25 Apr 2026

Sales above R20 million on the Atlantic Seaboard have increased 35% year-on-year as semigration from Gauteng continues. The Guardian / Photography

The Cape Town luxury residential market has recorded its strongest first quarter on record, with 47 transactions above R20 million registered in the Atlantic Seaboard and City Bowl areas.

The surge comes as semigration from Gauteng accelerates, with estate agents reporting that approximately 60% of luxury buyers are relocating from Johannesburg or Pretoria. Remote work policies at major financial services firms have enabled the shift.

By contrast, the national residential property market remains subdued, with house price growth of 1.8% year-on-year, according to FNB's property barometer.

© 2026 Monexus Media · reported from the wire