The Atlantic Seaboard and City Bowl have witnessed a remarkable surge in the property market this year, amassing a historic sales turnover exceeding R11.3 billion, Cape {town}Etc reports.
This striking performance, equivalent to a 26% increase from R8.9 billion in 2024, showcases the growing allure of these iconic locales for both domestic and international buyers and investors.
According to Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl, the heightened appeal of these areas, coupled with exceptionally fast sales, has resulted in sellers securing outstanding prices.
A key contributor to this growth is the high-value segment, which saw sales over R20 million generate a staggering R4.2 billion, up 61% from R2.66 billion the previous year.
With 116 transactions recorded in this bracket, 16 exceeding R50 million, including two eclipsing R100 million, it’s clear that affluent buyers are investing significantly in these prime properties. Notably, Seeff facilitated 30 of these remarkable sales, underscoring its established presence in the market.
Prominent suburbs making headlines for their transaction volume include Camps Bay with 29 sales, Bantry Bay and Fresnaye both with 17, and the Waterfront garnering 10. The pinnacle of pricing was exemplified in Clifton, where both transactions exceeded R100 million.
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Meanwhile, in the apartment market, a record R65 million was achieved for a unit in Bantry Bay, further emphasizing the area’s luxury appeal.
In terms of average transaction prices, the Waterfront precinct led the charge, recording an average surpassing R18 million, including 10 sales over R20 million, seven of which were facilitated by Seeff, with two as shared sales.
Notably, luxury sectional title units have seen average prices per square metre rise dramatically: R169,713/sqm at The Aurum in Bantry Bay, R160,615/sqm in the Waterfront’s Penrith, and R145,299/sqm at The Breakers in Mouille Point.
Despite Clifton’s overall highest property prices, its sectional title sales peaked at R143,298 per square metre for a unit in Eventide.
A substantial factor in this acceleration is the resurgence of international buyers, now contributing R2.8 billion—25% of the total sales value—from regions such as Germany, the UK, and Northern Europe, along with an increasing presence from various global markets.
Levin elaborates on this trend, noting that these buyers are attracted to the exceptional coastal lifestyle, architectural standards, and overall value that rival the world’s most coveted property locations.
Meanwhile, the City Bowl has not lagged, recording a notable 16 sales exceeding R20 million, with exceptional prices reaching R63 million in Higgovale, R46 million in Oranjezicht, and R44 million in Tamboerskloof. Sectional title properties dominate this landscape, comprising 75% of transactions, largely centred in the Central City.
As the area gears up for a bustling summer season, Levin observes, ‘The Waterfront and hospitality areas are already packed with visitors. With an influx of cash investments this year and ongoing development projects including exciting expansions at the Waterfront—interest in these neighbourhoods is unlikely to dwindle,’
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