Cape Town Homes Fly Off The Market While Joburg Listings Gather Dust

Cape Towns property market is showing no signs of slowing down, with homes in the Mother City selling faster and closer to asking price compared to Johannesburg, which continues to trail behind.

Daily Investor reports that between 2015 and 2023, the gap between the two cities has widened, with Cape Town outperforming Johannesburg year after year, even as the country faced economic strain, loadshedding and sluggish growth.

Johannesburg homes now hover near the 100-day mark on the market before selling, while Cape Town is edging closer to breaking below 80 days.

Despite national challenges, Cape Town's appeal remains strong, particularly at the start of the year.

In fact, properties listed in January across the country sell the quickest and are most likely to fetch close to their asking price.