The SA city that foreigners spent over R1 billion buying property in
According to BusinessTech and Seeff Property Group, sales to international buyers hit R600 million in February and R700 million in April this year, bringing the year-to-date figure to well over R1 billion.
Data also showed that overall property sales in Cape Town reached nearly R2.5 billion in the first five months of 2025 – the highest level seen in the past five years.
And it seems foreigners are interested in purchasing property in particular areas in the city.
Ross Levin, licensee for Seeff Atlantic Seaboard, noted that foreign buying has been especially strong in the Atlantic Seaboard and City Bowl, which together accounted for around 67% of all international transactions.
In April alone, overseas buyers spent R530 million on properties in the Atlantic Seaboard.
'We've seen sales across just about all suburbs, with Camps Bay and Bantry Bay commanding the highest values, and Sea Point and the CBD leading in transaction volumes,' Levin said.
Data also indicated that foreigners from over 40 countries have invested in Cape Town this year.
These included buyers from Germany, the UK, Netherlands, Switzerland, and other European nations.
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1
Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
12 hours ago
- The Star
IRR warns Parliament against expropriating SARB
The Institute of Race Relations has made written and oral submissions to Parliament in opposition to the South African Reserve Bank (SARB) Amendment Bill. The Bill, tabled by Economic Freedom Fighters leader Julius Malema in 2018, is moving forward to a committee vote on 'desirability'. The IRR warned that it is undesirable, uneconomical, unfunded, unconsidered, and unconstitutional. To start, the Bill expropriates the shareholders of the SARB without compensation, which is a direct violation of constitutionally protected property rights. The shares are worth an estimated R20 million, so no one can seriously claim that the Bill would expropriate these shares without compensation to save the fisc money. Rather, the real purpose of such an exercise is to try to set a precedent that any shares in the country can be expropriated without compensation, including trillions of rands worth of stock and bond securities that depend on SARB's prudent monetary management. So extreme is the Bill's threat of expropriation without compensation that even the government and members of the ANC have voiced public opposition to it. Treasury official Christopher Axelson, representing the government, spoke out at length in opposition to this danger and other dangerous aspects of the Bill before Parliament. Says IRR Fellow Gabriel Crouse: 'The effort to expropriate rural landowners in the hinterland is death to property rights by a thousand cuts. Expropriating SARB shareholders without compensation poses the same threat, only faster, like an atom bomb.' SARB's 802 shareholders make very little money from those shares, with dividends limited to R1,000 per annum, but do get to elect seven of the SARB's 15 directors. This decentralised, minority input provides a public-private engagement mechanism that has helped implement the 'primary object' of the SARB, which is 'to protect the value of the currency', according to the Constitution. SARB is arguably the most successful government institution at hitting its target. Over the last quarter of a century, it has largely succeeded in maintaining inflation within the 3% - 6% target range that was nominated for it by the then-minister of finance back in 2000. Most of South Africa's thousands of other organs of state have, by stark contrast, been riddled with ongoing state capture, often taking them well beyond the point of bankruptcy. Most organisations where the state is the 'sole shareholder' are so badly off that President Cyril Ramaphosa's first, second, and third presidential terms have included repeated calls for 'reform' through 'public-private partnerships' that increase the role of the private sector. So why, in this local environment, would anyone want to make the same overburdened state the 'sole shareholder' of one of the only bastions of excellence, namely SARB? Malema, the Bill's sponsor, leaves no room for mystery about it. Malema openly calls for total nationalisation of the land, banks, and mines, which would be significantly easier if the SARB were captured, and forced to abandon its mandate temporarily by stocking rampant inflation. That sudden loosening of monetary policy would produce what luminary SARB Governor Lesetja Kganyago has warned would be a 'deep depression'. It would also create enough chaos to facilitate a deeper round of state capture. Crouse concludes: 'This is a test for the GNU. The MK, EFF, and Action SA signalled support for the Bill in Parliament. If the ANC joins those parties in keeping the Bill alive to spite its investment-friendly GNU partners, this will damage government unity. More importantly, it dangles a threat over everyone's prospects, and the lifesavings of those who have any.' Institute of Race Relations I Joburg
IOL News
14 hours ago
- IOL News
IRR warns Parliament against expropriating SARB
So extreme is the Bill's threat of expropriation without compensation that even the government and members of the ANC have voiced public opposition to it. The Institute of Race Relations has made written and oral submissions to Parliament in opposition to the South African Reserve Bank (SARB) Amendment Bill. The Bill, tabled by Economic Freedom Fighters leader Julius Malema in 2018, is moving forward to a committee vote on 'desirability'. The IRR warned that it is undesirable, uneconomical, unfunded, unconsidered, and unconstitutional. To start, the Bill expropriates the shareholders of the SARB without compensation, which is a direct violation of constitutionally protected property rights. The shares are worth an estimated R20 million, so no one can seriously claim that the Bill would expropriate these shares without compensation to save the fisc money. Rather, the real purpose of such an exercise is to try to set a precedent that any shares in the country can be expropriated without compensation, including trillions of rands worth of stock and bond securities that depend on SARB's prudent monetary management. So extreme is the Bill's threat of expropriation without compensation that even the government and members of the ANC have voiced public opposition to it. Treasury official Christopher Axelson, representing the government, spoke out at length in opposition to this danger and other dangerous aspects of the Bill before Parliament. Says IRR Fellow Gabriel Crouse: 'The effort to expropriate rural landowners in the hinterland is death to property rights by a thousand cuts. Expropriating SARB shareholders without compensation poses the same threat, only faster, like an atom bomb.' SARB's 802 shareholders make very little money from those shares, with dividends limited to R1,000 per annum, but do get to elect seven of the SARB's 15 directors. This decentralised, minority input provides a public-private engagement mechanism that has helped implement the 'primary object' of the SARB, which is 'to protect the value of the currency', according to the Constitution. SARB is arguably the most successful government institution at hitting its target. Over the last quarter of a century, it has largely succeeded in maintaining inflation within the 3% - 6% target range that was nominated for it by the then-minister of finance back in 2000. Most of South Africa's thousands of other organs of state have, by stark contrast, been riddled with ongoing state capture, often taking them well beyond the point of bankruptcy. Most organisations where the state is the 'sole shareholder' are so badly off that President Cyril Ramaphosa's first, second, and third presidential terms have included repeated calls for 'reform' through 'public-private partnerships' that increase the role of the private sector. So why, in this local environment, would anyone want to make the same overburdened state the 'sole shareholder' of one of the only bastions of excellence, namely SARB? Malema, the Bill's sponsor, leaves no room for mystery about it. Malema openly calls for total nationalisation of the land, banks, and mines, which would be significantly easier if the SARB were captured, and forced to abandon its mandate temporarily by stocking rampant inflation. That sudden loosening of monetary policy would produce what luminary SARB Governor Lesetja Kganyago has warned would be a 'deep depression'. It would also create enough chaos to facilitate a deeper round of state capture. Crouse concludes: 'This is a test for the GNU. The MK, EFF, and Action SA signalled support for the Bill in Parliament. If the ANC joins those parties in keeping the Bill alive to spite its investment-friendly GNU partners, this will damage government unity. More importantly, it dangles a threat over everyone's prospects, and the lifesavings of those who have any.' Institute of Race Relations I Joburg
The South African
15 hours ago
- The South African
WHAT's next if SARS offers you auto-assessment in 2025
SARS auto-assessment in 2025 will look and work slightly differently this year. As it does every year, the South African Revenue Service (SARS) is tasked with bringing in record numbers of tax revenue to help fund the government's fiscal budget. As such, the organisation always wants to streamline and make improvements to how it runs. However, before we get into all that, let's remind you of all the pertinent tax dates for the year … SARS keeps improving its auto-assessment technology for 2025. Image: File Notable dates for the tax season 2025 to submit your return: Individual (non-provisional) taxpayers have from Monday 21 July 2025 to Monday 20 October 2025 . to . Provisional taxpayers have from Monday 21 July 2025 to Monday 19 January 2026 . to . SARS auto-assessments in 2025 open on Monday 7 July 2025 and close on Sunday 20 July 2025. One of the biggest changes to auto-assessment in 2025 is that for the first time SARS will invite provisional taxpayers to participate. Therefore, eligible and interested provisional taxpayers will be offered access for the first time, reports BusinessTech . As before, if you do not accept your automated tax return, you will still have to submit one manually through SARS eFiling or the SARS MobiApp. The South African Revenue Service (SARS) office on Lower Long Street, Cape Town. Image: File As such, nominated taxpayers of all types will start to receive notifications before the process starts next week. The streamlined auto-assessment in 2025 is a tool developed by SARS to process tax affairs quicker and easier. The only downside is the convenience might cost you a larger refund. Particularly if you have more complicated tax affairs that require additional, manual uploading. Essentially, SARS auto-assessment in 2025 pre-populates your tax return for you using information from third parties. These include your employer, bank, medical and retirement fund providers. You're then alerted if you're eligible and can skip the manual filing process altogether. Auto-assessed taxpayers due a refund typically receive it within just 72 hours if all the information is correct. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
