Top 15 most expensive suburbs to buy property in South Africa

The South African property market is becoming more appealing, with the repo rate declining, improving conditions for buyers.

In 2024, Llandudno in Cape Town recorded the highest average property price of R26.5 million, with a peak sale of R45 million, according to Lightstone Property’s annual report.

Despite this, the market remains under pressure, as high interest rates and a slow economy have caused a decline in transaction volumes.

However, Cape Town continues to lead in high-end real estate, with suburbs like Camps Bay, Clifton, and Constantia attracting strong demand for homes priced over R20 million.

Notably, Seeff Property Group sold 20 properties over R20 million in 2024, including multiple sales over R50 million in areas such as Clifton and Camps Bay.

Even the City Bowl, including Higgovale, Oranjezicht, and Tamboerskloof, saw significant sales, with one home in Oranjezicht fetching R43 million.

Cape Town’s top 10 suburbs now boast average house prices over R10 million, with four areas—Clifton (R43m), Llandudno (R27m), Camps Bay (R21m), and Higgovale (R20m)—surpassing R20 million.

The luxury market has also seen remarkable activity in Constantia Upper and Bishopscourt, where properties have sold for as much as R39 million.

Over the past five years, Cape Town’s property prices have surged by 30%, far outpacing Johannesburg’s 8.6% growth.

The city’s robust infrastructure, proximity to top schools and the University of Cape Town, and strong capital growth continue to drive demand in prime locations.

Foreign buyers are also increasingly drawn to South Africa, with many seeking vacation homes, retirement properties, or investment opportunities.

Recent notable purchases include a R72 million holiday home in Constantia by Austrian buyers and a British retiree relocating for year-round golf.

The country’s Retired Person’s Visa, offering easy access and low income thresholds, is a major incentive for retirees from Europe, the UK, the US, and Canada, according to Xpatweb.

The Western Cape and KwaZulu-Natal remain popular destinations, with areas like the Atlantic Seaboard, Franschhoek, Stellenbosch, and Umhlanga seeing high demand.

South Africa’s properties offer significant value for money, with homes typically 20-30% larger than in Europe. Foreign buyers accounted for 10% of sales in Cape Town in 2024, further bolstering the market.

Below is a list of the top 15 most expensive suburbs by average property price in 2024:

SuburbAverage Price Paid (R)Number of SalesMaximum Price Paid (R)
Llandudno26.5 million1545 million
Bishopscourt23 million2050 million
Clifton20.1 million2750 million
Constantia Heights18.4 million2548 million
Constantia18.2 million1034 million
Alphen17.7 million1740 million
Bel Ombre16.4 million3645.5 million
Steenberg Golf Estate15.3 million2030 million
Waterfront14.2 million5243.8 million
Higgovale13.8 million3032.5 million
Witteboomen13.6 million1121.5 million
Bakoven13.3 million7545 million
Silverhurst12.9 million3439 million
De Zalze Golf Estate12.6 million1927 million
The Links12.5 million1220.5 million
Bantry Bay12 million7250 million

Top 10 most expensive suburbs in South Africa with the highest number of sales

Data from property analytics group Lightstone reveals that the Western Cape is home to South Africa’s most expensive suburbs, with Llandudno, Bishopscourt, and Clifton leading the pack.

These high-end areas boast average property prices exceeding R20 million. However, despite their luxury status, these suburbs had fewer than 30 sales each last year, making them ultra-exclusive.

In contrast, Sea Point in Cape Town, Bryanston in Sandton, and Sandown in Milnerton saw the highest sales volumes. Sea Point led with 730 sales at an average price of R4,023,945, followed by Bryanston with 696 sales at R3,753,662 and Sandown with 584 sales at R2,041,470.

The dominance of the Western Cape in the luxury property market is driven by a combination of geographical advantages and social trends.

The region’s consistent draw for both local and international buyers—due to its scenic beauty, world-class amenities, and overall lifestyle appeal—keeps demand for premium properties high.

Property experts note that Cape Town has long been a magnet for wealthy individuals, whether they are looking for a second home, a retirement haven, or a place to invest. The supply of properties in exclusive areas is limited, but demand continues to surge, ensuring that these areas remain among the most expensive in the country.

While the Western Cape is currently the epicentre of South Africa’s luxury real estate market, other areas such as parts of Johannesburg (including Sandton) and Durban’s Umhlanga are also seeing steady growth in their upscale property markets.

Lightstone predicts that while the high-end market may cool slightly due to global economic conditions, there will still be robust demand in these iconic neighbourhoods.

Experts expect continued interest from both local buyers, who are attracted to secure and prestigious locations, and international investors, who view South Africa’s top suburbs as safe havens for capital preservation.