In Cape Town’s historic Bo-Kaap, locals priced out by rich foreign buyers
Airfind news item
By Latashia Naidoo
Published on March 18, 2026.
In Cape Town's historic Bo-Kaap, a historically Muslim community, a community that has been home to generations of extended families, is being priced out by wealthy foreign buyers. The rise in property prices, investor demand, and the rapid spread of short-term rentals are causing concerns that one of the city’s oldest-living neighbourhoods could slowly disappear. Local photographer Yasser Booley has witnessed this shift, describing it as the "slow choking of my living culture" through the accelerated sale of homes to high-net worth individuals who have no connection to the place or the culture. The increasing global tourism market has transformed the economics of the inner-city housing market, with data from the Seeff Property Group showing foreign buyers accounted for about 2.8 billion rand ($168m) in property sales across the Atlantic Seaboard and City Bowl in the past year.
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