Summary
Homes in Bo-Kaap, a historic neighborhood in Cape Town, South Africa, are increasingly being sold to wealthy foreign buyers. This shift is raising concerns among local residents about rising property prices and the loss of cultural heritage as many houses are converted into short-term rentals.
Key Facts
- Bo-Kaap is a historic, predominantly Muslim neighborhood in Cape Town, located near Table Mountain.
- Rising property prices and investor demand are leading to more homes being sold to wealthy foreign buyers.
- Foreign buyers accounted for about 2.8 billion rand in property sales in Cape Town's prime areas recently.
- Some homes in Bo-Kaap are being turned into short-term rentals, like Airbnb.
- Long-time residents face challenges in affording to stay or buy homes in the neighborhood.
- Cape Town saw about 3.3 million international travelers in 2025, boosting tourism.
- Bo-Kaap’s unique cultural and architectural appeal makes it attractive real estate.
