This Is Africa’s Monte Carlo
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.