African Cities are growing really fast, and it's now a hotspot for investors and buyers. Rent and prices can be outrageous sometimes, especially for city centers that are the main commercial marketplace. But some of the biggest and most influential cities are now the most affordable.
Despite the rise of rapid migration and population, city-center properties in many African countries still remain accessible, meaning that investors and buyers can take this opportunity, according to Numbeo data measured per square meter.
Topping this list with $721.95 per square meter pricing is Alexandria in Egypt.. This makes it the cheapest city-center housing market in all of Africa. With its beautiful seasides and ancient roots, Alexandria surprisingly hasn't seen the property inflation that most city centers with these perks face. For investors and buyers, Alexandria remains the top affordable city-center housing prices.
Coming close second is Cairo, also in Egypt that might be highly populated and busy, but it is also very affordable, especially for its size and influence. With apartments priced at $824.73 per square meter, it is a very affordable city center in Egypt. The real estate market is highly saturated, with developers constantly building to meet up with Egypt's huge population demand.
In south Africa, Pretoria, the administrative capital has surprisingly managed to keep its housing prices affordable for locals, buyers, and investors. At $833.42 per square meter, it could keep its housing price affordable due to the large student population and quiet lifestyle. The civil servants and students keep their demand steady influencing the price without pushing up costs.
It is followed by Johannesburg, the commercial and financial center city but still quite affordable to live. Priced at $1,021.09 per square meter due to the declining trend of inner-city living among middle-class buyers and the turnover in rental units. The establishment of businesses outside Johannesburg has also reduced the real estate pressure in the city.
Marrakech, in Morocco is popularly known for its palaces, mosques, and souks, yet it is still an affordable city center. Priced at $1,097.94 per square meter, it's slightly different from Tunis. Despite Marrakech being popular for its short-term rentals and boutique hotels, its apartments remain affordable due to the local ownership norms and strict building regulations.
Apartments in Tunis are priced at $1,098.27 per square meter due to its steady but slow economic development and a strong rule of locally owned property. Foreign investors do not flood the market but Tunis have managed to keep their housing prices affordable to the locals.
Durban is a major tourist center in South Africa because of its beach. Housing prices remain accessible at $1,099.81 per square meter. This shows how a city can be well developed without being pricey. Investors are beginning to pay more attention to Durban as an alternative to Cape Town and Johannesburg where property prices are more expensive.
Rabat is Morocco's capital city and it is one of the most stable cities in North Africa. Rabat apartment prices are priced at $1,800.98 per square meter, with consistent urban development and good political conditions. The mix of Arab and European architecture and its being the center of governance has made it a luxury hidden spot for buyers and investors.
Most expensive in Arica is the Cape Town, South Africa known for its expensive cost of living. Its wine farms, Table Mountain, and tourist spots have made it a hotspot, but surprisingly, its housing prices are more affordable than you would think. With $1,864.61 per square meter, Cape Town is now accessible to all. Most investors and buyers look outside the city and this has preserved its price from heavy inflation, especially with the growing economic pressure on the housing market.
Another expensive city in Africa, close on heels of Cape Town is Lagos, Nigeria's busiest commercial capital city, but its apartments are still priced at $1,824.11 per square meter. The mainland provides more affordable prices compared to the skyrocketing luxury prices on the island. Infrastructure struggles and the cost of maintenance have reduced the price surges in this part.
