It’s a fact! You need more money to live in Cape Town than you do to live anywhere else in the country.
For anyone who suspected life in the Mother City is more expensive, now there is proof.
Not only is the cost of living higher by a few thousand rands, but even getting a roof over your head will leave your pockets hurting, with rentals in the Mother City 54% higher than in Durban.
This is according to NUMBEO’s Cost of Living Plus Rent Index which, in this instance, compares the living costs of these two coastal towns.
For example, to have exactly the same standard of living in Cape Town as you do in Durban, you’d need an extra R5000 a month. And by the way, Cape Town salaries are only higher by about R3000.
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When it comes to property, whether renting or buying, Cape Town leaves your pockets emptier.
A one-bedroom rental in the city centre is about R5000 more in Cape Town, although perhaps not surprising as Cape Town’s CBD is known to be one of the best in the world. This is probably why you’re paying over R33 000 per square metre in Cape Town as opposed to R12 000 in Durban. Before Covid hit our shores, it was virtually impossible to buy a spot in the CBD for less than R2.5million.
The index also found that Capetonians spend a whopping 54% more on rent, almost 10% more on restaurant food and drink, and nearly 4% more on groceries. And, when they compared like with like – a MacDonald’s McMeal in both cities – Capetonians actually pay an extra R15 for the same meal.
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Utility costs, however, are slightly less in Cape Town compared to Durban, but only by a few rands. And if you drink bottled water, you’ll also be given some leeway in the Mother City.
Despite this, estate agents say Cape Town remains a top destination for semigrants from other parts of the country, although places along the southern coast such as Knysna are fast gaining traction.
With all the bad news about how hard Capetonians are being hit in the pocket though, we can at least breathe a bit easier knowing we are nowhere close to being as expensive as New York City.