Property prices in South Africa: What does R2.34m get you outside of Cape Town?

The middle-class struggle is real in Cape Town. Last week PropertyWheel said its data shows that Cape Town’s CBD had become so expensive that “not even the middle class” could afford to live there.

They estimate that the average price for a studio apartment in Cape Town’s city centred ranged between R2.34m to R2.64m.

With AirBnb booming in the city, this is hardly a surprise. Not that most of us have that kinda cash to throw around, but what do you actually get for that sum?

Let’s have a little look around. We’ve used property24.com as a guide – with all prices and pictures taken from them, unless otherwise stated. We’ve get the price range between R2m and R2.5m.

Please note: These prices are simply a guide, obviously there are thousands of variables.

Cape Town CBD

For some perspective, let’s start off with what you can get in the Cape Town City centre. For R 2 295 000, this nifty “spacious one-bedroom (65 sqm)” is up for grabs. While that might be taking some liberties with the definition of spacious, it is very pretty.

Cape Town Southern Suburbs 

On show in Claremont in Cape Town’s Southern Suburbs is this two bedroom, two bathroom option. The listing doesn’t say how big it is, but there is secure parking, as well as patio gardens to the front and back of the house.

Cape Town Northern Suburbs

If you’re willing to venture out behind the Boerewors Curtain, there’s a massive five-bedroom – 615 m² – on offer in Glenwood. Includes a built-in braai almost the size of a wall. Brilliant.

East London

Venture away from Cape Town and it gets even better. Anyone who has ever been to East London will tell you that it’s a bit of an unsung paradise. And with a six bedroom house, including a pool, with a whopping 1 338 m² of space at just R2.4m…. well, why wouldn’t you?

Port Elizabeth

Port Elizabeth doesn’t have anything on East London, but property prices are still far more affordable. You can live in Summerstrand in this three bed, two bath and two garage digs for R 2 250 000.

Sandton, Johannesburg

Shifting over the Sandton, things get a bit more pricey, but still not quite as pricey as Cape Town. Two beds, two bathrooms, parking and 88 m² with “stunning views” (their words, not ours) is yours for R2 350 000. It’s pretty basic, but it’ll do if you have that kinda money. Check out the listing here.

Bloemfontein

Look, we’re not sold on the slightly phallic pool feature here, but four bedrooms, two bathrooms, three garages have us piqued. All for just R 2 450 000. Listing here.

Kimberley

Cape Town peeps, look away, because, with the raging drought, you might never see another full pull in your life. Keep looking away because you’re definitely not going to see a six bedroom house for R2.2m in your hood. Check it out here.

Durban

Goeie genade, look at this beaut. Over in Glendwood in Durban, you get 632 m² that packs three bedrooms, two bathrooms, two garages and some serious views. Oh, and a pool. We’re sold… if only we could find the R2.5m to pay for it.

Knysna

Knysna has become an increasingly popular tourist hotspot, so snapping up this six bedroom, four bathroom guest house – with separate guest cottage, pool and established country garden – is a no brainer. All you need is R 2 495 000. Here’s the listing.

Graaff-Reinet

If you are gatvol of the city life, then the Karoo is the place to be. And this three bedroom house – with four bathrooms – will get you all set up to go if you’ve got R2 120 000 to splurge.

We can all agree that Cape Town’s property prices are next level ridiculous and with remote working increasingly becoming a thing, maybe there’s an argument to be made for all of us moving to other parts of the country. Sure, you might not have a moerse mountain in your backyard, but at least you won’t have to eat beans on toast for half the month.