"They Must Just Leave at This Point": R10 Million Cape Town Apartment Leaves Mzansi in Disbelief

• A luxury apartment listing in Cape Town’s historic Bo-Kaap area triggered widespread discussion after its multimillion-rand price circulated online
• The video struck a nerve because it touched on ongoing concerns about affordability, access, and whether long-time residents are being priced out of their own city
• Instead of just reacting to the property itself, viewers used the moment to express frustration about the direction Cape Town’s housing market seems to be taking

What appeared to be just another high-end listing quietly reopened a conversation about who Cape Town’s property market is really serving anymore.

A luxury Cape Town property listing has sparked online chatter after a video posted by @maggiereadsabook on 8 January 2026 showcasing a R10.95 million apartment in the Bo-Kaap made its way onto social media. The clip, which circulated widely online, featured a two-bedroom apartment priced just under R11 million, complete with 2.5 bathrooms, a single parking bay, and 184 square metres of space. The video drew attention not only because of the price but also because of its location in one of Cape Town’s most historic neighbourhoods. The post framed the listing as a conversation around supply and demand, placing the Bo-Kaap firmly at the centre of the debate.

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Cape Town’s property market has long been a sore point for locals, especially as prices continue to climb far beyond what most residents can afford. Areas close to the CBD, including the Bo-Kaap, have seen sharp increases driven by foreign interest, short-term rentals, and limited housing supply. While the neighbourhood holds deep cultural and historical significance, rising prices have raised concerns about who the city is really being built for. Listings like this one often reignite discussions around gentrification, displacement, and whether locals are being priced out of their own city.

Cape Town property prices under the spotlight

User @maggiereadsabook's video gained traction because it blended shock with familiarity. Many viewers have grown used to eye-watering Cape Town property prices, but the combination of the location and the nearly R11 million price tag struck a nerve. The way the listing was presented made it easy for people to imagine themselves scrolling, pausing, and rewatching in disbelief. It became a talking point because it reflected a reality many already feel but rarely see laid out so plainly.

Mzansi’s response leaned heavily toward humour and frustration. Some people joked that locals may as well pack up and leave if this is the new normal, while others expressed exhaustion at watching Cape Town drift further out of reach. Beneath the jokes, though, was a familiar sense of resignation, as many reflected on how property prices have shifted from aspirational to completely unattainable for the average South African.

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Here’s what Mzansi said

Ready commented:

“This is why the Spanish natives protested and banned tourists because it made it impossible for locals to own property in their own country. You are totally correct.”

Danielle commented:

“And then these places stand empty for most of the year or rented out, while families are struggling, generations of people who have built lives here.”

Shanyjay commented:

“This is plain and simple gross gentrification. This should have been listed as a heritage site, stating that foreign money cannot purchase heritage sites.”

uMfanaUzodlani commented:

“I remember Helen Zille being asked about this, and she defended it, then a few moments later her boy at Home Affairs introduced the Nomads Visa. When we said ‘abahambe’ people thought we were hateful, and now we’re all suffering.”

Siphumlile Mcinga commented:

“But in all honesty, it’s South Africa. Which other country allows foreign nationals to buy and own properties like this?”

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User962255080182 commented:

“We need to emulate countries like Thailand, where foreigners are not allowed to own land and may only buy specific property types, with locals owning the majority. It’s intolerable that young people in Cape Town have almost no chance of entering the property ladder.”

Annie Apples commented:

“Another disadvantage is that our Rand is heavily devalued, so foreigners come in with stronger currencies and buy these properties cheaply, while locals simply can’t afford them.”

JennyWolf commented:

“Cape Town has become more for foreigners. I’m a 52-year-old single mom, and I can’t afford to even rent in Lotus River or Grassy Park.”

Check out the TikTok video below:

3 Other Briefly News stories related to Cape Town property

• A Cape Town property listing has sparked confusion after a three-bedroom house was advertised for R5,000.
• An expensive apartment in Durbanville went viral after its outdated kitchen drew widespread criticism online.
• A video unpacked the cost of a tiny Sea Point apartment, sparking a broader chat about how Cape Town property pricing continues to push ordinary buyers away.

Source: Briefly News