
Prime residential prices in Cape Town skyrocketed in 2022, according to The 2023 Wealth Report by Knight Frank.
According to the global real estate specialist’s annual report, Cape Town shot up the Prime International Residential Index (PIRI) – climbing to 31st from 94th the year prior.
The PIRI tracks movements in luxury prices across the globe’s top residential markets.
The report said that Cape Town’s prime residential prices increased by 7.3%.