Cape Town continues to command the highest prices for super luxury homes, with Camps Bay, Clifton, and Constantia being the top choices for properties sold over R20 million this year.
This is according to the Seeff Property Group which has sold twenty properties over the exclusive R20 million price mark in Cape Town this year.
Notably, wealthy Gauteng/Joburg buyers have bought more homes priced over R20 million in Cape Town this year compared to the wealthy suburbs of Johannesburg/Sandton.
Three of these were over R50 million, and among the ten highest prices paid, says Ross Levin, licensee for Seeff Atlantic Seaboard, Waterfront and City Bowl.
Almost 120 properties have sold over the R20 million price mark in Cape Town to the total value of over R3.6 billion according to data from Propstats. At least 10 were over R50 million each, mostly in Clifton, Camps Bay, Bantry Bay, The Waterfront, and Constantia Upper.
Levin says the Atlantic Seaboard and City Bowl has enjoyed a strong year, with activity across all price bands, and a significant number of sales over R20 million.
Camps Bay already stands on over R1 billion in sales with three houses sold over R50 million. In Clifton, Gauteng buyers have paid up to R66 million for a luxury home.
Even the City Bowl suburbs of Higgovale, Oranjezicht and Tamboerskloof have seen sales over R20 million, mostly to local buyers with one Gauteng buyer paying R30 million for a house in Higgovale, and a UK buyer paying R43 million for a house in Oranjezicht.
Based on this year’s sales data, Cape Town’s top ten suburbs all boast an average house price of over R10 million with four suburbs, being Clifton (R43m), Llandudno (R27m), Camps Bay (R21m), Higgovale (R20m), topping the R20 million average price mark.
Top 10 Cape Town Suburbs by Highest Ave Price (2024)
(Source: Seeff/Propstats)
Francois Venter, lead agent for Seeff “The Uppers” said it’s no surprise that Constantia Upper and Bishopscourt rank in the top suburbs in Cape Town.
Constantia Upper already stands on over R1.4 billion in sales (excluding developments) this year with a significant 22 sales priced at over R20 million each this year with the Seeff team selling six of these, mostly to local buyers.
In Bishopscourt, a notable 11 homes sold for over R20m in Bishopscourt, two sold by Seeff. The Estates also continue seeing strong prices with sales of R35 million and R39 million in Silverhurst Estate.