According to an analysis of each metro’s 2024/25 draft budgets, the City of Cape Town has the lowest property rates for commercial, industrial and residential properties.
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The cent-in-rand rate is a statutory formula that municipalities use to calculate property rates. The formula calculates how much a person would pay in rates for each rand of their property value.
According to this formula, Cape Town has the lowest property rates among all metros for both residents and businesses in 2024/25.
Cape Town’s property rates are 32% lower than the next metro, Johannesburg, for commercial, 36% for industrial, and 28% for residential properties.
‘Cape Town has a simple message for owners of businesses, large and small: move your business to Cape Town for SA’s best property rates, reliable service delivery and infrastructure, and the most advanced plans to end load-shedding,’ said Mayor Geordin Hill-Lewis.
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‘Besides saving on costs, our Investment Incentives Policy makes it much easier to move your business to our region, or to start something new entirely.’
‘There are many opportunities to explore in manufacturing, the green economy, call centres, events, hospitality, technology, retail, and much more.’
‘Since the start of this term of office in November 2021, Cape Town has added 363 000 new jobs, according to StatsSA. The City further expects to create around 130 000 construction-related jobs over three years via infrastructure investments linked to our new Building for Jobs Budget.’
‘Our mission is to make Cape Town work by investing, on an unprecedented scale, in the city’s infrastructure – with projects worth R120bn over ten years, as we prepare to overtake Joburg as SA’s most populous city and economic hub.’
‘Cape Town will invest more in infrastructure than all three Gauteng metros combined over the coming three-year medium-term budget framework (R39,7bn vs a combined R38,5bn). In fact, Cape Town’s three-year infrastructure budget is 80% larger than the next metro, Joburg (R22bn), and 98% larger than the third biggest, eThekwini (R20bn),’ he added.
Cape Town recently launched a new Ease of Doing Business Index to track and improve ten critical indicators for ease of doing business, including building plan approvals, land-use rights, rates clearance certificates and connections to electricity and water.
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