Wealthy Foreigners Dominate Luxury Real Estate in Cape Town’s Exclusive Seaside Enclave
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New data reveals that international buyers are quickly buying up premium coastal homes in South Africa, with more than half of all properties in one ultra-exclusive village going to foreigners.
A comprehensive real estate report by Lightstone Property has revealed that wealthy international investors are heavily dominating South Africa's ultra-luxury property tier.
The data highlights Llandudno, a highly exclusive and secluded beachside village along Cape Town’s Atlantic Seaboard, as the primary hotspot for foreign buyers. Since 2015, approximately two out of every three homes sold in the enclave were snapped up by foreign individuals, boasting a massive average transaction price of R29.2 million.
While international buyers account for just 6% of national real estate volume, they control roughly 39% of all transactions for high-end properties valued above R20 million.
This concentrated capital influx continues to rapidly reshape local property values, with foreign-owned luxury homes in elite neighborhoods like Bantry Bay and Tamboerskloof commanding premiums up to 39% higher than those owned by domestic citizens.
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