Sales of luxury trophy homes priced above R20 million reached a record high in the first quarter of this year, with the majority of these transactions taking place in Cape Town’s prestigious Atlantic Seaboard and Southern Suburbs, according to the Seeff Property Group.
Propstats data reveals that 53 high-value properties were sold, collectively worth over R1.6 billion, during the first three months of the year. Notably, half of this total came from just 25 sales in the Atlantic Seaboard area.
One standout sale was a luxury 383 sqm apartment in The Aurum, Bantry Bay, which fetched R65 million, sold by Seeff to a local buyer, said Ross Levin, licensee for Seeff Atlantic Seaboard.
Seeff completed nine high-value sales in the quarter, and Levin notes that wealthy buyers are viewing Cape Town property as a reliable store of wealth.
Properties are selling faster than ever, with sole mandate homes averaging only five weeks on the market.
Adrian Mauerberger and Bryan Ginsberg report that the majority of buyers are local, though there remains significant interest from the semigration market. The location and lifestyle are drawing buyers from across the globe, the agents noted.
“We’re witnessing an influx of locals as well as buyers from Gauteng, KZN, the UK, and Germany, with many paying in cash.”
Other notable sales include three homes in Camps Bay for R45 million (local buyer), R21 million (German buyer), and R33.75 million (UK buyer, shared sale).
Additionally, properties in Fresnaye sold for R20 million and R23 million (both local buyers), while the Waterfront saw sales of R29.5 million (local buyer), R33 million (KZN buyer), and R29 million (German buyer).
Luxury Suburbs Ranked by Average Price for Q1 2025:
| Suburb | Price in 2025 (R million) | Price in 2020 (R million) | Percentage Change |
|---|---|---|---|
| Clifton | R42 million | R37 million | +13.51% |
| Bishopscourt | R24.65 million | R15.84 million | +55.6% |
| Camps Bay | R24.14 million | R13.18 million | +83.2% |
| Llandudno | R23 million | R20.06 million | +14.7% |
| Waterfront | R21.61 million | R11.20 million | +92.9% |
| Bantry Bay | R21.58 million | R20.45 million | +5.5% |
| Higgovale | R21.51 million | R22.51 million | -4.4% |
| Constantia | R21.07 million | R12.565 million | +67.7% |
| Fresnaye | R17.4 million | R15.07 million | +15.5% |
| Oranjezicht | R16.56 million | R9.97 million | +66.2% |
Source: Propstats/Seeff – Average Price 2025 vs 2020
Seeff also recorded six high-value sales in the Southern Suburbs, primarily in Bishopscourt and Constantia Upper.
Francois Venter, lead agent for Seeff in the area, reports a healthy mix of both new and old listings selling, with his team securing six significant transactions.
These include a vacant plot in Bishopscourt sold for R20.25 million (local buyer) and several homes in Constantia, including sales for R42 million (Polish buyer), R24.7 million (German buyer), and three local sales at R36 million, R31 million, and R20.5 million.
“We’re seeing tremendous confidence in the property market right now,” said Venter. “Cape Town remains the only city in the country that regularly ranks among top global destinations for visitors and property value growth.”
