New data from New World Wealth reveals which South African streets charge the most per square meter, in the most exclusive areas in the country.
According to the research group, there are approximately 2,300 South African homes valued at R20 million or more (as of December 2015).
880 of them are in Cape Town, while 550 are located in Johannesburg. Camps Bays is the top suburb for R20 million homes in the country, with 170 properties, followed by Plettenburg Bay along the south coast, with 120 properties.
Cape Town is home to the most expensive properties in the country (per square meter), with Dock Road, near the V&A Marina, fetching the highest price at R108,000 per square meter.
Other streets that ask the most per square meter (between R77,000 and R90,000) are all found in Clifton, which is known as the most expensive neighbourhood in the country, according to previous research from Lightstone Property.
NWW looked at sales statistics in each of the most exclusive areas’ transfer guides, housing associations and aggregators, and took into account the asking prices in each area from major real estate agency websites to compile its list.
The group also conducted interviews with local property agents and wealth managers.
These are the most expensive roads in SA (per square meter):
- Dock Road, Cape Town (V&A Marina) – R108,000 per square meter.
- The Ridge Road & Cliff Road, Clifton, Cape Town – R90,000 per square meter.
- Nettelton Road, Clifton, Cape Town – R85,000 per square meter.
- Kloof Road, Clifton and Bantry Bay, Cape Town – R82,000 per square meter.
- Victoria Road, Clifton and Bantry Bay, Cape Town – R77,000 per square meter.
Looking outside of Cape Town, few roads come close – with streets in Plettenburg Bay, Sandton and Umhlanga a stretch away from what is charged per meter in the Mother City:
- Beachyhead Drive, Plettenberg Bay – R46,000 per square meter.
- Melrose Arch, Sandton – R35,000 per square meter.
- Lagoon Drive, Umhlanga Rocks – R31,000 per square meter.
These are the most exclusive neighbourhoods in the country:
|Neighbourhood||Province||No. of R20 million + properties|
|Umhlanga & La Lucia||KZN||100|
|Constantia & Tokai||WC||90|
|St Francis Bay||EC||10|
Source: Business Tech