This is the most expensive city in Africa

This is the most expensive city in Africa

The latest Africa Wealth Report has revealed the most expensive cities on the continent.

Transnet Cape Town Harbour

The Africa Wealth Report 2024 has revealed that Cape Town is the most expensive city in Africa.

Grand Baie in Mauritius came in second place, and Plettenberg Bay on South Africa’s Garden Route came in third.

The list is based on the average square metre price of a prime 200 to 400-square-metre apartment in the city.

READ: This is how many millionaires live in Pretoria

The South African reported that a ‘Prime’ refers to premium residential units in affluent parts of each city.

According to the list of most expensive cities in Africa, the Mother City’s price is $5,600/m² (R107,000/m²).

Here are the top ten most expensive cities in Africa:

Africa Wealth Report 2024

According to New World Wealth, The Africa Wealth Report is the definitive guide to Africa’s wealth and luxury sector.

The report is published annually by Henley & Partners, the global leader in residence and citizenship by investment, in partnership with wealth intelligence firm New World Wealth.  

The 2024 report is the 9th edition of the annual report.

READ: 85 towns in South Africa have been renamed

Along with the most expensive cities in Africa, the report also revealed that there are currently 135,200 millionaires living in Africa, along with 342 centi-millionaires, and 21 dollar billionaires.

"Africa's ‘Big 5' wealth markets — South Africa, Egypt, Nigeria, Kenya, and Morocco — together account for 56% of the continent’s millionaires and over 90% of its billionaires."

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Image: Africa Wealth Report 2024


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