According to sales data from the Seeff Property Group, the average selling price for a house in Clifton has risen to R43.9 million this year.
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This is more than double the average price for Camps Bay, Cape Town’s second-most expensive area this year along the Atlantic Seaboard.
Every year, only around 20 houses and five apartments are sold in this little community.
However, speaking to IOL, Jo Lombard, a luxury sales specialist at Seeff Atlantic Seaboard, said these command the highest average prices in the country.
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According to Propstats data, about R2 billion in sales were completed here during the last five years.
‘Clifton benefits from a spectacular location between mountain and sea with some of the most exclusive homes in the country. It also has the best Blue Flag beaches, which are packed throughout the summer,’ Seeff Property Group said.
Nettleton Road, positioned high against Lion’s Head, is South Africa’s most expensive street. Houses here have sold for more than R100 million, thanks to their solitude and spectacular views of the oceanfront.
According to Lombard, current prices vary from R69m to R160m but might rise to R200m if the economy and market resume their normal growth.
At least three of the high-end sales exceeding R20 million this year went to Gauteng buyers, with another two going to buyers in KwaZulu-Natal.
Older houses in Clifton were purchased a few years ago and rebuilt or demolished to construct spectacular villas that can compete with some of the best in the world, Lombard explained.
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‘Every house sold this year has been above R20m. The highest recorded price was for a villa on Kloof Road which sold for R66m.’
Lombard described it as an older property and a renovator’s dream.
Bungalows are located further down in the suburb. According to Propstats, these bungalows sold for prices ranging from R28 million to R59.95 million this year.
Some of the country’s most desirable apartment buildings, such as Eventide, San Michele, and The Beaches, hug the shoreline and have unrestricted ocean views, Lombard noted.
Over the last year, prices for apartments in Even tide ranged between R44 million and R50 million, while those in San Michele reached R37 million. The highest sums paid are around R187 000 per square metre. A 16-square-metre parking bay was also sold for R2.5 million.
A multi-story mansion with direct mountain access to Lion’s Head is currently on the market for R69.95 million.
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Picture: Stephan Louis / Pexels
