Prime residential property in the seaside city of Cape Town costs on average €4 500 (R42 151.04) per square metre.
1 comment:
Anonymous
said...
If you compare house prices to incomes earned it probably is the top most expensive city in the world.
House prices to rent ratios of 30+ (should be around 10)
Median house to median income ratio of 21 (should be 3)
These numbers are huge - income and rents can't go up because there isn't the money, so the only thing that can change in order to bring the ratios back to the norms is a huge house price crash.
1 comment:
If you compare house prices to incomes earned it probably is the top most expensive city in the world.
House prices to rent ratios of 30+ (should be around 10)
Median house to median income ratio of 21 (should be 3)
These numbers are huge - income and rents can't go up because there isn't the money, so the only thing that can change in order to bring the ratios back to the norms is a huge house price crash.
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