iAfrica
2 months ago
3 min read
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Despite the uncertainties surrounding the pandemic, the market for prime global residential property is expected to remain active as the long-term appeal of this sector holds strong – as sentiment improves amidst the rollout of the Covid-19 vaccine across the globe, and as the Biden administration plans a massive stimulus package to revive growth in the US, according to Savills World Cities Prime Residential Index.
Says Dr Andrew Golding, chief executive of the Pam Golding Property group, which is the Savills associate partner for the Sub-Saharan African region: “The prime residential forecasts for the 30 cities – which includes Cape Town – highlights the strength and ongoing stability of prime residential property, with average capital value growth for the cities in the index forecast at 1.6% for 2021. Cape Town, which is rated as one of the steady cities, is forecast as having the potential to experience positive capital growth of up to 1.9%.