Despite the economic effects of Covid-19, Gautengers are purchasing trophy homes on Cape Town's Atlantic seaboard.
Ross Levin, Seeff Property Group licensee for the Atlantic seaboard and City Bowl, this week said 160 properties, valued above R20m, were sold in the past two years. “More than half of those sold in 2022, generating nearly R3bn in value, and there are still a few months to go,” said Levin.
“This is testimony to Cape Town’s growing international acclaim as a destination of choice for semigration and international buyers. The increase in direct flights to Cape Town will further boost interest in property in the city which is good for the local economy,” Levin said.Levin said 80% of the trophy home sales in Cape Town were on the Atlantic seaboard — in Camps Bay, Clifton, Bantry Bay, Fresnaye and at the Waterfront.
According to Francois Venter, luxury market specialist for Seeff southern suburbs, the market for luxury homes across the “uppers” areas remains active. In Constantia, 35 homes valued at more than R20m have sold since the start of last year, while Bishopscourt clocked up eight high-value sales priced above R20m.”