Luxury properties are still all the rage in Cape Town – Photo: File
From beachfront apartments, to hidden gems: Here’s where you can find the most expensive properties in South Africa.
Luxury properties are still all the rage in Cape Town – Photo: File
Oh, how the other half live. New data released by the New World Wealth survey has listed 10 of the most expensive suburbs and streets in the country, including five exclusive areas in Cape Town alone.
Beachfront properties in the Mother City remain the Holy Grail of South African real estate. With properties valued at around R80 000 per square-metre in some parts of Cape Town, the market is reserved only for the richest of the rich. However, regions in other parts of the country are emerging as attractive destinations.
Umhlanga in Durban has two separate entries on the list, whereas two secluded towns in the Western Cape also find themselves named in this celebration of opulence. However, it’s not all smooth sailing in the property game.
“There has been a dip in the top-end market. In particular, free-standing houses valued at over R10 million have become very difficult to sell. Increased utility bills, high transfer fees, and significant crime rates are all deterrents.”
“However, luxury apartments have been the best performing residential segment in South Africa over the past decade, as many buyers have moved away from purchasing houses. Apartments in Umhlanga, Hermanus and Plettenberg Bay have performed especially well.”
New World Wealth
Clifton
Bantry Bay
Fresnaye
Camps Bay / Bakoven
Llandudno
Lagoon Drive, Umhlanga
Eastcliff, Hermanus
Beachyhead Drive, Plettenberg Bay
Central Sandton, Johannesburg
Marine Drive, Umhlanga