Wealthy flock to Cape Town

[Grant]

Cape Town has the world’s second highest seasonal fluctuation of US-dollar multimillionaire populations in the world.

The city’s number of US-dollar multimillionaires, those with assets worth more than $10 million (R145 million), fluctuates 608% between its low month in July, when the multimillionaire population is estimated to be 380, and its peak month in December, when it is estimated to be 2 690, according to the Knight Frank 2016 Wealth Report.

The only other destination with a greater seasonal fluctuation surveyed by Knight Frank is the Hamptons near New York.
With its long stretches of beach, the Hamptons is known as a summer destination for affluent New York residents.
Its seasonal fluctuation of US-dollar multimillionaires varied by a huge 777% from 1 060 in January to 9 300 in August.

US-dollar multimillionaire population figures include those staying in permanent or second homes and exclude people staying in hotels.

Knight Frank tracks the value of the world’s leading prime residential property markets.
On average, the value of the world’s leading prime residential property markets increased 1.8% last year.

The value of property in Cape Town last year increased by 6.9% in local currency terms, placing it 13th out of the 100 cities tracked by Knight Frank.

Property in Vancouver, Canada, came first last year with a 24.5% price hike.
“A lack of supply, coupled with foreign demand and spurred on by a weaker Canadian dollar, explains the city’s stellar performance,” Knight Frank said.

In another major South African city, Johannesburg, property prices increased by 4% and came in 26th place.

http://city-press.news24.com/Business/wealthy-flock-to-cape-town-20160711

 

[grok]

Who can blame them?

 

[Wag]

On my way.

 

[yebocan]

Property in Vancouver, Canada, came first last year with a 24.5% price hike.

Hells!

 

[Nom Chompsky]

Never knew I was such a pull factor

 

[Grant]

Never knew I was such a pull factor

it really is time you got laid & gave that wrist of yours some well earned r&r

 

[cguy]

I really wonder how they generate these stats. The report does make some statements about monitoring private aviation patterns, but this is far from conclusive, and it's unclear if this is the source of their data or just corroboration.

 

[Grant]

I really wonder how they generate these stats. The report does make some statements about monitoring private aviation patterns, but this is far from conclusive, and it's unclear if this is the source of their data or just corroboration.

if you have the inclination
http://content.knightfrank.com/research/83/documents/en/wealth-report-2016-3579.pdf

 

[Rouxenator]

Because the Cape is the best damn place in Africa. We really should do a Wexit.

 

[cguy]

if you have the inclination
http://content.knightfrank.com/research/83/documents/en/wealth-report-2016-3579.pdf

That's the report I was commenting on in my first post. The information doesn't seem to be there. The reason I am skeptical, is that there is no mechanism I can see by which this information can be legally obtained. A survey would be a bit of a stretch, and extrapolating from private aviation seems wishful.

 

[Grant]

That's the report I was commenting on in my first post. The information doesn't seem to be there. The reason I am skeptical, is that there is no mechanism I can see by which this information can be legally obtained. A survey would be a bit of a stretch, and extrapolating from private aviation seems wishful.

admittedly, i simply caught sight of the wall 'o text and blanked out

 

[Rouxenator]

admittedly, i simply caught sight of the wall 'o text and blanked out

"It takes the wall 'o text like a man" mmmm - yes.

 

[Grant]

"It takes the wall 'o text like a man" mmmm - yes.

keep quiet you karoo dweller