The Cape Town CBD turned a corner in 2023, rebounding from the persistent economic pressure with a boom in property investments.

A fervent desire to reduce both monthly costs and traffic-congested travel times while residing in conveniently situated nodes has given rise to the ongoing success of the live-work-play lifestyle in South Africa.

The surge in first-time buyers entering Cape Town’s property market – a notable 3.3 times more than this time last year – augurs well for a gradual house price recovery in the next few months, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

According to The State of Cape Town Central City Report, recently released by the Cape Town Central City Improvement District (CCID), the 1.6km² Cape Town CBD is home to 12 museums, three libraries, 209 eateries, 96 medical practices as well as 69 bars and clubs.

Reaffirming the strategic relevance and increasing appeal of Cape Town’s rapidly transforming Foreshore area, which is undergoing considerable revitalisation, two major corporates have recently concluded lease agreements through Ikon Property Group for prime office space in the area.

Although South Africa is relatively new on the "green building" scene, it is making rapid progress in catching up with the likes of Australia, North America and Europe, says Heath Andersen, associate director at global engineering firm Arup.