The graph below shows the volume of property developments compared between the two provinces:
“ Volumes in Gauteng peaked at 135,072 in 2008 before the market crashed, and had climbed back to 123,405 in 2015 before declining year on year until the 2021 post-Covid bounce back. “The top three bands in Gauteng are R500 thousand-R1 million, R1-R2 million and R250-R500 thousand, while the WC is the top transfer band, since 2016, followed by R500 thousand -R1 million and R2 million-R3 million”, she said.In both Gauteng and the Western Cape, nine out of the top suburbs in which development has taken place since 2008 are suburbs with affordable housing, in some cases transitioning from informal housing to the formal market, said Lightstone.
The second most active residential development zone is Riverside View – adjacent to Steyn City in Fourways. It offers both new and resale affordable housing, said Ivins-Downes.Windmill Park, on the East RandMidstream in Midrand – the only higher-income suburb in the top tenLufhereng, to the west of Soweto.As with Gauteng, nine of Cape Town’s top ten in terms of development are townships or areas transitioning from informal to formal housing, said Ivins-Downes.
I would not buy real estate anywhere in South Africa. I'm leaving this country.