ANALYSIS: The hidden story behind Cape Town’s foreign property purchases (opens original article in a new tab)

A report challenges Cape Town's mayor's claim that foreign buyers only purchase luxury properties, revealing some foreign buyers are active in more affordable areas of the market.

• Mayor Geordin Hill-Lewis claims foreign buyers are not the main cause of Cape Town's property price surge, stating they mainly buy luxury homes in specific areas.
• Analysis of Airbnb data suggests some foreign buyers are purchasing properties in more affordable neighborhoods, challenging the mayor's assertion.
• Foreign buyers accounted for 15% of sales in the R3-million to R5-million price range, indicating their presence in the mid-market segment.