With another clean audit for 2022/2023 and nearly R7bn in infrastructure investments, Cape Town is not only a hotspot for property but a magnet for investors and tourists alike. Recent accolades, including the Best Worldwide City in the 2023 Telegraph Travel Awards, highlight the city’s global appeal.
The record-breaking influx of over 317,000 international passengers in December 2023 has given a substantial boost to the local economy, creating a unique opportunity for the city’s commercial and industrial sectors. Marcus Te Vaarwerk, a director of Swindon Property sees this tourism boom, combined with a clean bill of health from the Auditor General, as a catalyst for increased market sentiment and heightened interest among developers, investors, and businesses.
Increased demand for space
As the number of visitors rises, existing hotels are expected to witness high occupancy rates, leading to potential expansion plans and new hotel developments. This surge translates into increased…
