Cape Town – Despite economic woes and political uncertainty in South Africa, the luxury property market still had some sparkle during 2017.
Cape Town even topped the list of top prime property hotspots in Africa, according to a quarterly report by New World Wealth for the third quarter of 2017. The city’s Atlantic Seaboard suburbs of Clifton and Bantry Bay – which sell at about R82 000/m² – are mentioned in the report.
As the year draws to a close, Fin24 looks back at some of these top end properties which caught the attention not only of those who could afford them, but also of those who just like to look and dream.
1. Clifton villa sold for R120m
In December 2017 a house in Cape Town’s Atlantic Seaboard suburb of Clifton was sold for R120m.
The property is situated on the slopes of Lion’s Head in Nettleton Road, which is regarded as one of the most expensive residential streets in South Africa. The deal was concluded by Dogon Group Properties and the buyer is South African.
According to Denise Dogon, CEO of Dogon Group, the house has seven levels and six bedrooms. It was designed by award-winning architect Stefan Antoni.
Features include a private cinema, a wine cellar, an office, a gymnasium, a massage room, a steam room, a library, a floating bar, staff accommodation and an infinity pool.
View from the lounge of the home sold for R120m:
Fin24 visited the property earlier in the year.
WATCH: Inside the R120m Clifton home
2. What you get at this R185m Cape Town home
In April 2017 Fin24 reported that a property in Cape Town’s Atlantic Seaboard suburb of Fresnaye was on the market for a record price of R185m.
The property is situated on a corner plot in Ave Alexandra against the slopes of Lions Head and offers panoramic mountain and sea views.
It has fireplaces throughout, underfloor heating, a gymnasium, plenty of outdoor terraces and a large swimming pool.
The various living rooms include an imperial style dining room and kitchen which has a walk-in fridge.
There are five bedroom suites in the main house. The main suite is large and includes a lounge, dressing room and bathroom as well as an adjacent study or office. It opens onto a patio.
There is also a guest cottage with two bedroom suites, a living area and kitchen with a private terrace and swimming pool.
Additional features include staff accommodation and garaging, security features and a guardhouse.
3. Da’Realty’s R1.5bn luxury developments in Cape Town
Da’Realty is currently revamping three luxury developments in Cape Town, with a total value of R1.5bn.
The R900m Aurum development involves the redevelopment of the old Ambassador Hotel situated on the rocks in Victoria Road, Bantry Bay, along Cape Town’s exclusive Atlantic Seaboard. It is being redeveloped into eight luxury “presidential penthouses” overlooking the ocean – one per floor.
Another 15 apartments will be developed across the road also form part of the Aurum development.
The Aurum apartments’ prices range from R25m for mountain side apartments up to R130m for sea facing apartments. Sizes range from 125m² to 800m². The development is expected to be completed by winter 2018.
Da’Realty has only been present in SA for the past three years. Founding president Ahsan Darvesh fell in love with the beauty of Cape Town while studying for his MBA in the city. He was staying at the then Ambassador Hotel, saw it was for sale and decided to open a South African division of the Darvesh family’s global property development company.
Aurum presidential apartments’ bedroom:
4. Luxury Gauteng property for (just) R26m
On the outskirts of Pretoria a grand homestead was put up for sale on the Mooikloof Equestrian Estate for R26m. The Pretoria East estate is not only the most expensive neighbourhood in Pretoria, but ranks as the top equestrian estate in the country, according to Seeff Property Group.
The palatial 2 291m² home has a double-volume entrance hall and a sweeping staircase. The home has lovely views of the surroundings.
The homestead has generous room sizes. There are seven bedrooms, several living rooms, a glass-enclosed, climate controlled wine cellar, fully fitted bar, private home cinema theatre, a games room and a fitted study.
Grand homestead for sale on the Mooikloof Equestrian Estate for R26m:
5. What you get for R45m – R69m in Cape Town’s exclusive Constantia suburb
In Cape Town’s exclusive southern suburb of Constantia Upper the average selling price of a home is R11.6m.
The Mother City is home to nine of the ten richest suburbs in South Africa, Samuel Seeff, chair of the Seeff Property Group told Fin24 earlier and Constantia counts among these top ten most expensive suburbs.
In Seeff’s view, prices have “comfortably” reached R100m to R200m-plus levels on the Atlantic Seaboard in Cape Town, for instance, while top end luxury properties and locations can now range from R185m to R300m.
Mintaka Estate, Constantia:
Tuscan villa, Constantia:
Tuscan villa, Constantia bathroom:
6. R100 000 a night to stay in Cape Town
Holiday makers – both local and international – were prepared to pay up to R100 000 a night to stay in platinum level villas along premium spots in Cape Town last summer.
Dinis Martins, chief operating officer of Seeff Atlantic Seaboard & City Bowl, told Fin24 the rental market is buoyant with strong demand and good rentals, although those very high R100 000-plus rentals are few and far between.
“The market will be busy this year. We are already concluding deals and doing renewals. Rentals now easily range upwards of R20 000 to R30 000 per month, even in Sea Point. Expect to pay upwards of R35 000 to R40 000 in Camps Bay, and of course top end rates in Clifton and Bantry Bay,” said Martins.
7. SA’s 10 most exclusive residential estates revealed
Exclusive Paarl estate Val De Vie was once again rated as South Africa’s top estate in a survey, which reveals where South Africa’s most exclusive residential estates are located.
The survey, by global bank AfrAsia Bank and research group New World Wealth, rated the luxury estates on criteria that included design and space, communal gardens and parks, maintenance, location, security, scenery, activities and facilities.
Val de Vie:
8. Two SA cities on top property list for rich and famous
Cape Town and Johannesburg ranked among the top 50 so-called alpha cities in the world, a survey revealed.
These are cities which are attractive to the ultra-rich when they decide on where to buy luxury real estate in a city, according to the Wealth-X Global Property Handbook. It was compiled in collaboration with Warburg Realty and Barnes International Realty.
The first edition of the handbook reviews the luxury real estate market and explores the buying habits of the world’s wealthiest people. These ultra-high net worth individuals (UHNWs) have a net worth of $30m (about R400m) or more.
The ideal city property must satisfy a range of practical, emotional, and financial considerations.
Cape Town ranks 37th one notch below Dubai (36th). The Mother City’s attractiveness for luxury purchases by the very rich is seen as on a par with Oslo in Norway, Basel in Switzerland and Moscow in Russia.
Johannesburg ranks 46th, just below cities like Sao Paulo in Brazil, Dublin in Ireland, Mumbai in India and Kuwait City in Kuwait, which are collectively in 42nd place.
* Sign up to Fin24’s top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER