Yield Spreads Reach 4.4x as African Markets Outpace Global Hubs
Capital returns show extreme divergence across the eight reporting markets in 2026-Q3, driven by high capital growth in West Africa and elevated yields in South Africa. Established financial centres present compressed returns, creating a distinct yield gap between emerging and developed hubs.
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Data for 2026-Q3 across eight reporting markets reveals sharp divergence in capital appreciation and yield performance. The mean 12-month change across reporting markets stood at +7.22 per cent, with four markets providing 12-month trailing figures. All four of these markets rose, with zero recording a decline.
The spread between the highest and lowest gross yields reached 4.4x. Johannesburg delivered the highest gross yield at 13.47 per cent, while Singapore recorded the lowest at 3.06 per cent. Capital appreciation was led by Lagos, which recorded a 12-month change of +17.00 per cent, alongside prime pricing of $1,500/m2. By contrast, Dubai marked the lowest positive capital growth among reporting markets at +1.90 per cent over 12 months, with prime prices at $4,980/m2 and a gross yield of 6.68 per cent.
Only three markets supplied absolute prime price readings this quarter: Lagos ($1,500/m2), Dubai ($4,980/m2), and Paris ($11,400/m2). Pricing gaps remain substantial, with Paris commanding more than seven times the prime square-metre valuation of Lagos.
Data coverage remains uneven across the regions. Half of the reporting markets lack 12-month capital change data, and five lack prime price per square metre figures. Confidence ratings remain split, with five markets registering high confidence and three registering moderate confidence.
This report is computed from Propstock's own market readings for 2026-Q3. 8 of the markets we track reported a citable figure this quarter; 4 carried a twelve-month change and 3 a price reading. Markets that could not be sourced are excluded rather than estimated, so the figures describe the markets that reported and not the world.
Every underlying reading carries its own sources and vintage, and is published only after passing the citation and plausibility checks described on our methodology page. Interpretation in this report is Propstock's; the figures it rests on are not ours.
Nothing here is investment advice.