Forbes has arrived in South Africa, and it is here for the mansions. The invitation-only luxury property network that carries the Forbes name, Forbes Global Properties, has launched a local arm and appointed property entrepreneur Keegan Steyn to run it as its exclusive representative in the country. Run out of Cape Town, the new firm will market some of the country's most prestigious homes, from Atlantic Seaboard residences and Winelands estates to private game-reserve retreats and luxury coastal boltholes.
Why South Africa, why now
The timing has a logic written in the numbers. Lightstone data shows that while overseas buyers made up only about 6% of all home sales over the past decade, they bought nearly 40% of everything sold for more than R20 million over the same period. That top slice is exactly what Forbes wants to plug into. Its local listings gain access to a referral network the company says spans 35 countries and more than 600 locations, plus Forbes' audience of over 167 million monthly digital users. Forbes' own directory lists South Africa as its single exclusive member for the country, joining a network that describes itself as invitation-only.
A new benchmark, they say
Both sides are pitching this as a step up for the market. Forbes Global Properties chief executive Michael Jalbert said Steyn's track record on the country's most notable deals made him "uniquely positioned to lead our presence in this important market". Steyn, for his part, said the tie-up would "define a new benchmark in South Africa" by pairing deep local knowledge with international reach. He argues foreign buyers are increasingly drawn to local luxury homes for their lifestyle, space and privacy, rather than viewing them simply as a cheaper alternative to established markets. The aim, the firm says, is to show off South Africa's finest homes to a global audience while bringing international buyers closer to one of the world's more distinctive luxury markets.
Whether a famous American masthead can turn global eyeballs into signed offers is the test now facing South Africa's high end, one trophy listing at a time.
