The demand for rental properties from foreigners is pushing up rates. The situation is causing discussions about how to balance the interests of local residents and newcomers.
Cape Town is known not only for its breathtaking scenery, but also for its vibrant cultural life.It is not surprising that the city attracts foreigners. The areas along the Atlantic coast and the southern suburbs are particularly in demand.
The housing problem in Cape Town has reached a national level.In October 2024, the regulation of short-term rentals was discussed in Parliament. The goal is to prevent large property owners from monopolizing the housing stock for temporary financial gain. Public concern that long-term tenants are being displaced by short-term business models is growing.
Many attractive cities around the world face similar problems.Finding a balance between the needs of guests and locals is especially difficult in a situation where there is a shortage of housing even without foreigners.
Features of the country and the real estate market
Source: Cape Town Today
