It only takes a quick drive through Clifton and Camps Bay to realise that Cape Town is home to some pretty luxurious properties.
Gorgeous ocean and mountain views have always come with a hefty price tag when purchasing property in the Mother City. Throw in a vacant plot along the slopes of the iconic Lion’s Head, and you bet your bottom dollar you’re going to be forking out quite a bit.
Real estate has always been incredibly competitive in the City Bowl. Limited space coupled with a convenient location ensures buyers are paying a pretty penny. However, a new record has been set after plots in a luxury estate development sold for more than R16.5 million – the highest for vacant land in the City Bowl.
The Ridge Estate, nestled on the upper slopes of Lion’s Head near Tamboerskloof, is set to be the latest residential addition to the Mother City. A first of its kind, offering a gated community for residents in the heart of the City.
Incredible views of Table Mountain and Cape Town’s skyline have been attracting buyers from Johannesburg and across the waters, reports Business Insider. According to Seeff Developments, once completed, the estate will “rank as one of the top high-end estates” in South Africa.
The Ridge includes 25 residential plots split into two housing estates: The Ridge Estate Villas and The Ridge Estate Residences. The Residences consist of 18 plots ranging in size from 500m² to 700m². The Villas include seven stands, between 650m² to 1,000m² in size, and are sold at a premium.
While that may be enough to make any property lover scrolling through Property24 drool with envy, three of the vacant plots mentioned above were recently sold for more than R16.5 million each. R13 million was the previous record for the most expensive plot sold in the City Bowl and was set back in 2017.
While these plots have been selling like hotcakes, there are still available for the eager buyer. R12 million will get you gorgeous views of Cape Town and a 600m² plot in The Residences.
Take a peek at what lucky buyers may get when making their purchase:
Picture: The Ridge Estate