Authored by the expert who managed and guided the team behind the South Africa Property Pack
Yes, the analysis of Cape Town's property market is included in our pack
Cape Town's apartment market is one of the most dynamic in South Africa, and prices can vary dramatically depending on which neighborhood you're looking at.
We constantly update this blog post to reflect the latest data, so you can make informed decisions whether you're a first-time buyer or an experienced investor.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Cape Town.
Insights
- Cape Town apartment prices grew around 30% over the past five years, outperforming other major South African cities by a significant margin.
- The City Bowl neighborhood Gardens saw apartment prices jump about 12.6% from 2024 to 2025, signaling strong demand in central Cape Town locations.
- Foreign buyers typically need a 50% down payment to secure financing in Cape Town, compared to just 10% to 20% for South African residents.
- Cape Town apartments command around R32,000 per square meter on average, but this ranges from R18,000 in budget areas to over R70,000 in prime coastal spots.
- Monthly body corporate levies in Cape Town apartments can range from R1,200 for basic walk-ups to over R9,000 for buildings with full amenities like pools and backup power.
- Transfer duty in Cape Town only kicks in above R1,210,000, meaning many entry-level apartments attract zero transfer duty tax.
- New-build apartments in Cape Town typically carry a 15% premium over resale properties, though this can stretch to 25% for developments with premium amenities.
- The Atlantic Seaboard and City Bowl areas are expected to see 5% to 8% annual price growth through 2026, driven by limited supply and international buyer interest.
- Bellville offers the strongest price-per-square-meter value among Cape Town suburbs, making it a popular entry point for first-time buyers.
How much do apartments really cost in Cape Town in 2026?
What's the average and median apartment price in Cape Town in 2026?
As of January 2026, the median apartment price in Cape Town sits at around R1.65 million (approximately $100,000 USD or €86,000 EUR), while the average apartment price is higher at roughly R2.1 million ($128,000 USD or €110,000 EUR) because prime coastal areas push the mean upward.
When it comes to price per square meter, the median in Cape Town lands around R32,000 per square meter ($1,950 USD or €1,670 EUR per sqm), which translates to about R2,970 per square foot ($181 USD or €155 EUR per sqft).
The typical price range that covers most standard apartments in Cape Town spans from R1 million to R3.5 million ($61,000 to $213,000 USD or €52,000 to €183,000 EUR), though this varies significantly depending on the neighborhood, building quality, and how close you are to the coast or city center.
How much is a studio apartment in Cape Town in 2026?
As of January 2026, a typical studio apartment in Cape Town costs between R900,000 and R1.4 million ($55,000 to $85,000 USD or €47,000 to €73,000 EUR), with prices heavily dependent on location and building amenities.
Entry-level to mid-range studio apartments in Cape Town start around R850,000 to R1.1 million ($52,000 to $67,000 USD or €44,000 to €57,000 EUR) in areas like Bellville, while high-end or luxury studios in the City Bowl or Sea Point can reach R1.5 million to R2.2 million ($91,000 to $134,000 USD or €78,000 to €115,000 EUR).
The typical size for studio apartments in Cape Town ranges from 25 to 40 square meters, with most hovering around 30 to 35 square meters, which is fairly compact but standard for this property type in the city.
How much is a one-bedroom apartment in Cape Town in 2026?
As of January 2026, a typical one-bedroom apartment in Cape Town costs between R1.3 million and R2.1 million ($79,000 to $128,000 USD or €68,000 to €110,000 EUR), making this the most popular entry point for first-time buyers in the city.
Entry-level to mid-range one-bedroom apartments in Cape Town go for around R1 million to R1.4 million ($61,000 to $85,000 USD or €52,000 to €73,000 EUR) in suburbs like Milnerton or Bellville, while high-end or luxury one-bedrooms in Gardens, Green Point, or Sea Point can reach R1.9 million to R3 million ($116,000 to $183,000 USD or €99,000 to €157,000 EUR).
The typical size for one-bedroom apartments in Cape Town ranges from 40 to 60 square meters, with most falling around 45 to 55 square meters, which usually includes a living area, small kitchen, bathroom, and sometimes a balcony.
How much is a two-bedroom apartment in Cape Town in 2026?
As of January 2026, a typical two-bedroom apartment in Cape Town costs between R1.8 million and R3.2 million ($110,000 to $195,000 USD or €94,000 to €167,000 EUR), representing the most common choice for couples and small families.
Entry-level to mid-range two-bedroom apartments in Cape Town start around R1.3 million to R1.9 million ($79,000 to $116,000 USD or €68,000 to €99,000 EUR) in more affordable areas, while high-end or luxury two-bedrooms in prime locations like the City Bowl or Atlantic Seaboard can reach R3 million to R5 million or more ($183,000 to $305,000 USD or €157,000 to €261,000 EUR).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Cape Town.
How much is a three-bedroom apartment in Cape Town in 2026?
As of January 2026, a typical three-bedroom apartment in Cape Town costs between R3 million and R6 million ($183,000 to $366,000 USD or €157,000 to €313,000 EUR), though supply is thinner in this category since most Cape Town apartment stock is smaller units.
Entry-level to mid-range three-bedroom apartments in family-oriented areas go for around R2.8 million to R4 million ($171,000 to $244,000 USD or €146,000 to €209,000 EUR), while high-end or luxury three-bedrooms in prime coastal or central locations can easily exceed R4.5 million to R10 million ($274,000 to $610,000 USD or €235,000 to €522,000 EUR).
The typical size for three-bedroom apartments in Cape Town ranges from 90 to 150 square meters, with most landing around 100 to 130 square meters, often including two bathrooms and sometimes a separate living and dining area.
What's the price gap between new and resale apartments in Cape Town in 2026?
As of January 2026, new-build apartments in Cape Town typically carry a premium of around 15% compared to resale apartments on a like-for-like basis, though this gap can stretch to 20% to 25% for developments with premium amenities like backup power, modern security, and quality finishes.
The average price per square meter for new-build apartments in Cape Town sits around R37,000 to R45,000 ($2,250 to $2,740 USD or €1,930 to €2,350 EUR per sqm), depending on the location and developer positioning.
Meanwhile, the average price per square meter for resale apartments in Cape Town is lower at around R28,000 to R35,000 ($1,700 to $2,130 USD or €1,460 to €1,830 EUR per sqm), reflecting older building stock and potentially less modern amenities.
Make a profitable investment in Cape Town
Better information leads to better decisions. Save time and money. Download our guide.
Can I afford to buy in Cape Town in 2026?
What's the typical total budget (all-in) to buy an apartment in Cape Town in 2026?
As of January 2026, the typical all-in budget to buy a standard apartment in Cape Town ranges from R1.75 million to R3.5 million ($107,000 to $213,000 USD or €91,000 to €183,000 EUR), which includes the purchase price plus all closing costs and upfront fees.
Beyond the purchase price, your all-in budget in Cape Town should account for transfer duty (if the price exceeds R1,210,000), transfer attorney fees, Deeds Office registration fees, bond registration costs if you're financing, bank initiation fees, and sometimes pro-rata municipal and levy adjustments at transfer.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Cape Town property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Cape Town.
What down payment is typical to buy in Cape Town in 2026?
As of January 2026, the typical down payment for an apartment in Cape Town is around 10% to 20% of the purchase price for South African residents (roughly R165,000 to R330,000 or $10,000 to $20,000 USD or €8,600 to €17,200 EUR for a median-priced apartment), but foreign buyers should expect to put down around 50%.
Most banks in Cape Town require a minimum down payment of 10% from resident buyers with good credit profiles, though some first-time buyer programs may allow 100% financing in exceptional cases with strong income verification.
To secure favorable mortgage terms in Cape Town, including better interest rates and lower monthly payments, a recommended down payment is 20% or higher, as this reduces the bank's risk and often unlocks more competitive lending conditions.
You can also read our latest update about mortgage and interest rates in South Africa.
We made this infographic to show you how property prices in South Africa compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Cape Town in 2026?
How much does the price per m² for apartments vary by neighborhood in Cape Town in 2026?
As of January 2026, the price per square meter for apartments in Cape Town ranges dramatically from around R18,000 to over R70,000 ($1,100 to $4,270 USD or €940 to €3,650 EUR per sqm), depending heavily on which neighborhood you're looking at.
In the most affordable neighborhoods of Cape Town, such as Bellville, parts of Parow, and Goodwood, apartment prices typically sit around R18,000 to R25,000 per square meter ($1,100 to $1,520 USD or €940 to €1,300 EUR per sqm), making these areas attractive for budget-conscious buyers.
In the most expensive neighborhoods of Cape Town, such as Gardens, Tamboerskloof, Green Point, Sea Point, and Camps Bay, apartment prices can reach R45,000 to R70,000 or more per square meter ($2,740 to $4,270 USD or €2,350 to €3,650 EUR per sqm), driven by ocean views, proximity to the CBD, and premium lifestyle amenities.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Cape Town.
What neighborhoods are best for first-time buyers on a budget in Cape Town in 2026?
As of January 2026, the top three neighborhoods best suited for first-time buyers on a budget in Cape Town are Bellville, Milnerton (particularly older blocks away from the lagoon), and Observatory or Salt River for those wanting CBD proximity.
In these budget-friendly neighborhoods, typical apartment prices in Cape Town range from R850,000 to R1.6 million ($52,000 to $98,000 USD or €44,000 to €83,000 EUR), which is significantly below the city-wide average and makes homeownership more accessible.
These Cape Town neighborhoods offer first-time buyers good public transport links, proximity to shopping centers like Tyger Valley in Bellville's case, and growing community infrastructure, while Milnerton provides coastal-adjacent lifestyle without City Bowl pricing.
The main trade-off of buying in these budget-friendly Cape Town neighborhoods is that you may face longer commutes to the CBD, less walkable streets in some pockets, and older building stock that could mean higher maintenance or less modern amenities.
Which neighborhoods have the fastest-rising apartment prices in Cape Town in 2026?
As of January 2026, the top three neighborhoods with the fastest-rising apartment prices in Cape Town are Gardens in the City Bowl (up about 12.6% year-over-year), Woodstock and Observatory (seeing 6% to 8% growth), and Bellville (rising around 8% as affordability drives demand).
The estimated year-over-year price increase for these fast-appreciating Cape Town neighborhoods ranges from 6% to 13%, which significantly outpaces the national average and reflects strong local demand dynamics.
The main driver behind the rapid price growth in these Cape Town neighborhoods is a combination of limited supply in central areas, ongoing semigration from other South African provinces, renewed international buyer interest, and improvements in city infrastructure like power supply.
You can also read our latest update about property price forecasts in Cape Town.
Don't lose money on your property in Cape Town
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What extra costs will I pay on top of the apartment price in Cape Town in 2026?
What are all the buyer closing costs when you buy an apartment in Cape Town?
The estimated total buyer closing costs for a typical apartment purchase in Cape Town range from about R75,000 to R180,000 ($4,600 to $11,000 USD or €3,900 to €9,400 EUR), depending on the purchase price and whether you need financing.
The main categories of closing costs buyers must pay in Cape Town include transfer duty (a tax paid to SARS), transfer attorney or conveyancer fees, Deeds Office registration fees, and if you're taking out a mortgage, bond registration fees and bank initiation charges.
The largest closing cost expense for buyers in Cape Town is typically the transfer duty tax, which kicks in for properties priced above R1,210,000 and increases progressively through brackets, reaching 13% on the portion of the price above R11 million.
Some closing costs in Cape Town are negotiable or can vary between transactions, particularly attorney fees where you can shop around for competitive quotes, though transfer duty and Deeds Office fees are fixed by regulation.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Cape Town?
The estimated typical percentage of the purchase price that buyers should budget for closing costs in Cape Town is around 5% to 7% for most mainstream apartment purchases in the R1.2 million to R3 million range.
The realistic low-to-high percentage range for closing costs in Cape Town spans from about 3% to 5% for apartments under R1.21 million (where no transfer duty applies) up to 8% to 12% for properties above R3 million where transfer duty climbs significantly.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Cape Town.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in South Africa versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the ongoing monthly and yearly costs of an apartment in Cape Town in 2026?
What are typical HOA fees in Cape Town right now?
Most apartments in Cape Town are sectional title properties, which means you pay monthly body corporate levies rather than traditional HOA fees, and these levies cover building insurance, maintenance, security, and common area upkeep.
The typical monthly body corporate levy for apartments in Cape Town ranges from R1,200 to R9,000 ($73 to $549 USD or €63 to €470 EUR), with basic older walk-ups at the lower end around R1,200 to R2,500 and full-amenity buildings with 24/7 security, pools, gyms, and backup power at the higher end around R4,500 to R9,000 or more.
What utilities should I budget monthly in Cape Town right now?
The estimated total monthly utility cost for a typical apartment in Cape Town is around R1,500 to R2,500 ($91 to $152 USD or €78 to €130 EUR) for a small one or two-person household, excluding internet.
The realistic range of monthly utility costs in Cape Town spans from around R1,200 for a small, energy-efficient apartment to R3,500 or more ($73 to $213 USD or €63 to €183 EUR) for larger units or households with higher consumption.
The specific utilities included in the typical monthly Cape Town budget are electricity, water, sanitation, and refuse collection, with electricity typically charged on prepaid or home-user meter tariffs and water billed on stepped consumption bands.
Electricity tends to be the most expensive utility for apartment owners in Cape Town, especially given recent tariff increases of around 9% and the fact that Cape Town has some of the highest electricity prices in South Africa.
How much is property tax on apartments in Cape Town?
The estimated typical annual property tax (called municipal rates in South Africa) for an apartment in Cape Town ranges from about R10,000 to R30,000 ($610 to $1,830 USD or €520 to €1,565 EUR) per year, depending on the municipal valuation of your property.
Property tax in Cape Town is calculated by multiplying your property's municipal valuation by the applicable rate-in-the-rand, which varies by property category, with residential properties typically paying a lower ratio than commercial properties.
The realistic range of annual property tax in Cape Town spans from around R8,000 for lower-valued apartments to R40,000 or more ($490 to $2,440 USD or €420 to €2,090 EUR) for higher-valued units in premium areas, as the tax is directly tied to municipal valuations.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Cape Town.
What's the yearly building maintenance cost in Cape Town?
The estimated typical yearly building maintenance cost for apartment owners in Cape Town is around R5,000 to R15,000 ($305 to $914 USD or €261 to €783 EUR) for in-unit maintenance like appliances, minor plumbing, and painting, since most building-level maintenance is covered by your monthly levies.
The realistic range of yearly maintenance costs in Cape Town spans from around R3,000 for well-maintained newer buildings to R20,000 or more ($183 to $1,220 USD or €157 to €1,043 EUR) for older buildings that might have unexpected repairs or special levy assessments.
Building maintenance costs in Cape Town typically cover in-unit repairs, appliance maintenance, and interior upkeep, while structural maintenance, exterior painting, lift servicing, and common area repairs are funded through the body corporate's operating and reserve funds.
In Cape Town sectional title apartments, building maintenance is largely included in your monthly levies, though special levies can be raised if the reserve fund is insufficient for major repairs, making it important to check a scheme's financial health before buying.
How much does home insurance cost in Cape Town?
The estimated typical annual home insurance cost for an apartment in Cape Town is around R1,800 to R6,000 ($110 to $366 USD or €94 to €313 EUR) for contents insurance, since building insurance is usually arranged by the body corporate and included in your monthly levies.
The realistic range of annual contents insurance costs in Cape Town spans from around R1,500 for basic coverage to R10,000 or more ($91 to $610 USD or €78 to €522 EUR) for comprehensive policies with higher coverage limits or valuable items endorsements.
Building insurance is effectively mandatory for sectional title apartments in Cape Town, as the body corporate is legally required to insure the building structure, but contents insurance for your personal belongings is optional though strongly recommended.
Get fresh and reliable information about the market in Cape Town
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Cape Town, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Property24 Gardens Property Trends | Major national portal with sales data directly from the South African Deeds Office. | We used registered sectional-title sale prices to anchor central Cape Town apartment values. We also used bedroom-level asking prices to validate price ranges. |
| Property24 Milnerton Property Trends | Same transparent Deeds Office methodology for a different Cape Town market segment. | We used Milnerton's sectional-title averages as a mid-market benchmark. We tracked year-over-year changes to estimate early-2026 momentum. |
| Property24 Bellville Property Trends | Large set of Deeds Office registrations for a more affordable Cape Town reference point. | We used Bellville's sectional-title prices as a budget-end anchor. We tracked price growth to identify rising affordable submarkets. |
| SARS Transfer Duty Rates | SARS is the tax authority, making this the definitive source for transfer duty brackets. | We used the 2026 tax-year transfer duty table to compute buyer taxes. We converted headline prices into realistic all-in cash budgets. |
| SARS Transfer Duty Notice | Official SARS announcement confirming current thresholds and rates. | We used this to confirm the thresholds applying in early 2026. We cross-checked against the main rates page to avoid outdated information. |
| City of Cape Town Budget 2025/26 | Published by the City with adopted tariffs and charges. | We used it to estimate monthly water, sanitation, and refuse costs. We referenced it for understanding how location affects municipal charges. |
| City of Cape Town Property Rates Annexure | Official City documentation for property rates calculations. | We used it to frame how property rates are calculated in Cape Town. We ensured our tax discussion matched actual billing methods. |
| Deeds Office Fee Schedule | Regulated schedule that is the authoritative reference for Deeds Office charges. | We used it to include Deeds Office fees in closing cost estimates. We ensured our cost percentages weren't unrealistically low. |
| Law Society of South Africa Conveyancing Guidelines | National professional body guideline widely used as a market reference. | We used it to estimate transfer attorney fees as part of closing costs. We built realistic cash-needed-besides-deposit examples. |
| FNB Non-Resident Home Loans | Major South African bank with clear non-resident lending rules. | We used it to set deposit requirements for foreign buyers. We contrasted non-resident and resident financing conditions. |
| CSOS Levy Payments | Regulator and ombud for community schemes, reliable for levy governance. | We used it to explain what levies are and why Cape Town apartments have them. We justified treating levies as a core ongoing cost. |
| Wits University Sectional Title Booklet | University-produced explainer designed to be accurate and accessible. | We used it to explain what you own versus what the building owns. We clarified why levies, rules, and common-property costs matter. |
| OUTsurance Buildings Calculator | Major insurer tool showing how replacement value drives premiums. | We used it to ground insurance estimates around replacement cost. We validated our premium ranges against practical calculators. |
| Santam Building Insurance | Large established insurer documenting standard building coverage scope. | We used it to describe what building insurance typically covers. We separated body corporate building cover from contents insurance. |
| Pam Golding Properties | Leading real estate agency with regular market commentary and price tracking. | We used their price growth commentary to validate early-2026 trends. We cross-referenced their market outlook with our own analyses. |
| Exchange-Rates.org | Trusted currency converter featured in major financial publications. | We used it for USD and EUR conversions of all Rand amounts. We ensured foreign buyers can understand prices in familiar currencies. |
| Trading Economics | Respected economic data provider with current exchange rate tracking. | We used it to confirm January 2026 exchange rates. We validated the Rand's recent strength against major currencies. |
| Wisemove Cost of Living | South Africa-focused relocation guide with detailed utility and living costs. | We used their utility cost breakdowns to validate our monthly budget estimates. We referenced their electricity tariff analysis for Cape Town. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of South Africa. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Related blog posts