Foreigners are flocking to South Africa’s biggest provinces – but the wealthy are only buying in one area.
Foreigners are buying more property in South Africa, but only one province is seeing a substantial rise in purchases of pricey homes.
51% of these sales in 2022 were between R1 million and R3 million, making it the largest single category. This trend has continued into 2023, with 1.839 properties sold up to August in the R1 million to R3 million category:Although the Western Cape is often touted as the emigration and semigration hub of South Africa, Gauteng is actually the preferred choice for foreigners buying property in South Africa, followed by the Western Cape and KwaZulu-Natal.
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