Culture, History, and Business
The city of Cape Town has a rich but turbulent history. It was subjected to many power tussles by different colonial masters. The ancestors of the colored community in Cape Town are believed to have been imported as slaves from Indonesia and Madagascar during the Dutch colonial days.
The British created the union of South Africa and unified the Cape colony. Cape Town was established as its legislative capital. This set the city on the path to becoming the legislative capital of the present-day Republic of South Africa.
Cape Town is the regional manufacturing center of the Western Cape. As of 2011, the city’s GDP was $56.8 billion, having a GDP per capita of $15,721. From 2010 – 2014, Cape Town recorded GDP growth at an average of 3.7% a year. Presently, the GDP growth rate is at 4.2%.
Cape Town’s economy’s most substantial comparative advantage has been the growth of its specialized services sectors, such as business services, logistics, finance, and transport.
If you are contemplating moving to Cape Town or you are just searching for a place to stay during your beach holiday, Cape Town City offers a wide variety of awesome neighborhoods. Fortunately, every last one of these areas in Cape Town brags its own set of sights. From trendy residential places and palm-tree-lined rural areas to centrally found neighborhoods.
Cape Town offers one of the best profit potentials for real estate investors in South Africa. Being an economic hub of its nation, there are numerous sectors in this city that are directly impacting the upward trend of its real estate. The city offers nature’s splendor with serene shrubs and service modernization. Real estate investment in the city is also flourishing, to say the least. If Cape Town is your next target for investment, our following articles will feature details about why you should invest in the city, and also prime neighborhoods to invest in.