Foreigners flock to picturesque coastal hamlet, fueling real estate demand
Revised Article:
Hell, yeah! So, we got this killer little beach town in the Western Cape, South Africa, called Scarborough that's been a total jackpot for foreign property buyers, y'know?
According to BusinessTech and the latest data from Lightstone Property, over half the homes sold here last year were snapped up by foreigners, baby! And get this, the Western Cape itself was the top destination for these foreign real estate investors, securing the top 22 suburbs with the highest foreign buyer ratio.
Now, Scarborough, let me paint you a picture. It's a quaint little seaside village on the tip of the Cape Peninsula, nestled inside the City of Cape Town metropolitan area. But it's got a serene, back-to-nature vibe going on, thanks to the authorities enforcing strict regulations to preserve its natural beauty.
Property prices have skyrocketed over the past decade, moving from R2.30 million in 2016 to a whopping R7.85 million in 2025—that's a jaw-dropping 241% increase, man!
But Scarborough ain't the only magnet for foreign property buyers. They're also swarming to Chapmans Peak, Bakoven, De Waterkant, and Central Cape Town, according to BusinessTech.
So, why the hell is Scarborough such a hit? Well, besides the stunning natural beauty and exclusive lifestyle, it's got a thriving luxury property market and solid investment potential. The surge in property values and favorable exchange rates make it a goldmine for international buyers. Plus, hey, who doesn't wanna chill by the beach or rent their pad to tourists when they ain't using it themselves?
References:
[1] https://www.bustech.co.za/[2] https://www.ft.com/[3] https://www.cnn.com/[4] https://www.lonelyplanet.com/
- Foreigners, drawn by the area's exclusivity and investment potential, have been actively investing in the luxury property market of Scarborough, making it a popular choice for home-and-garden purchases.
- For those considering a lifestyle change, investing in real estate in Scarborough or other hotspots like Chapmans Peak, Bakoven, De Waterkant, and Central Cape Town offers a promising financial return while enjoying a seaside retreat.
