Around 80% of trophy home sales in Cape Town were along the Atlantic coast.
Gauteng and European buyers are snapping up trophy homes in Cape Town, according to Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl.
Analysis firm New World Wealth found that the largest number of trophy homes, priced at more than R20 million, are in Cape Town. About 160 such properties in the city have been sold in the past two years.
Around 80% of trophy home sales in Cape Town were along the Atlantic coast, especially in Camps Bay, Clifton, Bantry Bay, Fresnaye and the Waterfront.
This house in Fresnaye sold for R43.5 million.
seeff supplied
The last eight home sales worth more than R20 million along the Atlantic coast have been to Gauteng buyers, according to Seeff.
International buyers come mainly from Germany, the United Kingdom, the United States, Switzerland, France and Austria, and even from Finland.
A German buyer bought an apartment at The Aurum in Bantry Bay for R72 million. At 398 m², this meant that the buyer was willing to pay R180,905/m².
A German buyer bought an apartment at The Aurum in Bantry Bay for R72 million.
seeff supplied
A Swiss buyer paid R22.6 million for an apartment at The Bantry, while an Austrian buyer paid R50 million for a Waterfront apartment and another German buyer paid R24 million for an apartment at The Waterclub in Granger Bay. .
Axis Property recently sold an apartment at its 14 La Croix development in Fresnaye for R27.5 million. The buyer is a South African who has lived in the UK for some time. He wanted a “lock and go” luxury apartment in Cape Town that would suit his international lifestyle.
Home sales included one in Camps Bay for R23.995 million to a US buyer and another for R23.9 million, also in Camps Bay, to a UK buyer.
“This is a testament to Cape Town’s growing international acclaim,” says Levin.
He hopes that the increase in direct international flights to Cape Town will further boost interest in property in the city.
