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For Greg Dart, director of High Street Auction Co, Cape Town real estate continues to outperform other markets in South Africa – something that was more than evident during the recent highly successful dual venue auction.
Over 40 properties, including 15 from the Western Cape came under the hammer at the end of May. For the first time, a portfolio of City of Cape Town stock was integrated into the showcase of all property assets sourced nationally and auctioned simultaneously in both Cape Town and Johannesburg venues via live streaming. Excellent results were locked in across the entire auction order, but the City of Cape Town stock enjoyed significant traction with 77 % of the lots successfully sold above mandate on the day.
Dart notes that Cape Town remains a top performer in the industrial, commercial, retail, and residential property spaces.
Throughout the Western Cape, Dart says there is strong buyer interest, especially in logistics, Cape Town offices, and coastal retail centres. This region demonstrates the highest price stability.
He points out that Cape Town’ s governance and infrastructure advantages have undeniably contributed to a pricing premium- especially in prime areas. While this might be pricing out some short-term, return-sensitive investors, those with a long-term or strategic view, particularly in sectors like logistics, tech, and mixed-use, continued to bid on properties in this ever popular metro.
“ In our recent auction in Cape Town, we found active bidding on all of the City of Cape Town Municipality properties, delivering a very high conversion on sales.
Foreign buyers and expat South Africans are targeting Cape Town and Garden Route properties due to lifestyle appeal, rand weakness and perceived governance stability. Some are seeking hedge-type diversification through hard-asset holdings,” he says.
30 REI MAGAZINE JUNE 2025