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This Is Africa’s Monte Carlo

News 24   in  ·
June 16, 2015

Cape Town’s multimillion-rand trophy homes on the Atlantic seaboard are being snapped up by rich Nigerians, Angolans and Zimbabweans

Rich African business folk continue to fork out top dollar for luxury sea-facing properties in Cape Town, which they consider the Monte Carlo of Africa.

Real estate agents agree that residents of oil-rich Nigeria top the list when it comes to Africans investing in Atlantic seaboard homes with price tags of R20 million and more.

In April, a mystery buyer from the Nigerian commercial capital, Lagos, forked out R78.6 million for two double-volume apartments, which will be renovated to form one sprawling 450m² penthouse.

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