Cape Town’s high-end property market is showing renewed strength, with luxury apartments along the Atlantic Seaboard and in the City Bowl attracting sustained interest from both local and international buyers.
Sales activity has accelerated in recent months, with high-value transactions and quick turnaround times signalling a market that continues to outperform broader economic conditions.
Insights carried by Business Day highlight that sectional title properties, largely apartments, now dominate sales in these prime areas, accounting for roughly three-quarters of all transactions since early 2024.
The numbers point to a market where demand is consistently outstripping available stock. Billions of rand have already flowed into the sector, with R6.1bn recorded in sales last year and a further R1.5bn added this year.
In many cases, properties are selling within weeks, and sometimes days, of being listed. More than half of transactions along the Atlantic Seaboard are concluded within a month, while the pace is even faster in the City Bowl.
‘The market is buoyant, with many units selling as soon as they are listed and waiting lists of buyers and investors becoming increasingly common,’ said Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl.
While some buyers are still negotiating modest discounts, pricing trends suggest increasing stability. A growing share of sellers are achieving figures close to their asking prices, with a significant portion of deals closing near full value.
‘The average selling prices are slightly up, and units are selling much faster this year, achieving better prices,’ Levin noted.
High-end transactions continue to anchor the market, with a relatively small number of deals above R20m accounting for a large share of overall sales value.
Although local buyers still make up the bulk of transactions, international demand continues to play a meaningful role. Nearly a third of high-value purchases have been attributed to foreign buyers, particularly from Europe and North America.
‘The demand is not just driven by local Cape buyers. We are seeing increased interest from Gauteng and KwaZulu-Natal, along with international buyers,’ Levin added.
Key nodes such as the V&A Waterfront, Bantry Bay, Sea Point and Clifton remain among the most sought-after locations, with secure, luxury apartments continuing to attract both investors and lifestyle buyers.
Despite economic pressures, including elevated interest rates, the luxury segment appears relatively insulated. Market activity is being supported by cash buyers and long-term investment strategies rather than short-term speculation.
Ongoing development in the V&A Waterfront precinct is also reinforcing confidence in the area, with infrastructure upgrades and new investments aimed at enhancing its appeal as both a residential and tourism hub.
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