Cape Town features some of the most expensive luxury properties in the country, but they are surprisingly affordable, compared to some of the rest of the world’s hot spots for the ultra-rich. Check this out.

According to the 2014 Wealth Report, which provides a global perspective of property investments made by the super-rich, Monaco is still the the most expensive location in the world to buy luxury property.

For just under R11 million you could afford a 15m² space in Monaco, which is basically the same size as a single garage. So if you don’t want to spend a couple bar on a parking bay for your car, Cape Town gives you more bang for your buck. For the same amount you can get a 215m² apartment in a top-end suburb in the Mother City. Keep in mind this is now officially a world hot-spot and, according to multiple global sources,  one of the most beautiful cities in the world.

With the super-rich looking to real estate investment, following the world markets’ improvement, the Wealth Report found that 20% of the 90 markets studied showed double digit house price growth in 2013. Cape Town is placed 51st on the list of global growth rankings with  luxury properties only increasing by 0.2% on average, last year.

To read more about the 2014 Wealth Report, click here.

[ Source : BDLive ]