The average price of a home in Clifton, in Cape Town has soared in 2016 – with wealthy Joburgers buying up high-priced properties in South Africa’s most expensive suburbs.
According to data from Lightstone Properties, the average price for a house in Clifton has jumped R2.84 million to R33.3 million – the highest average for any suburb in South Africa.
Clifton is one of two top-end suburbs to reach an average over R20 million, with the other being Bantry Bay, where an average home is R21.9 million – excluding the recent R290 million sale in the area.
According to Lance Cohen of Seeff properties, Joburg and Gauteng buyers have dominated the high-end Cape Town property market in 2016, buying up 12 top end homes to the total value of almost R350 million.
Joburg buyers have also paid some of the highest prices:
- a luxury home in Kloof Road, Clifton was sold for R62 million;
- a sale in Ave Alexandra in Fresnaye went for R75 million;
- a R34 million property in Kloof Road, Bantry Bay; and
- R47 million, R29.5 million and R28 million properties in Camps Bay.
Clifton, Bantry Bay, Fresnaye and Camps Bay make up sales of R1.43 billion, coming from just 69 sales alone, the property group said.
This is how much an average home costs in these areas:
- Clifton: R33.334 million
- Bantry Bay: R21.946 million
- Camps Bay: R15.536 million
- Fresnaye: R14.799 million
According to Seeff, the most expensive houses on offer in the country though are in Clifton and Fresnaye.
This includes two Stefan Antoni-designed architectural homes: the four-storey Pentagon in Nettleton Road, and a three-storey ultra-luxurious villa in Fresnaye – both around the R150 million price mark.
Source: Businss Tech