Cape Town’s most expensive streets and developments
The latest data from wealth research group, New World Wealth (NWW) reveals the most expensive and exclusive streets in Cape Town.
To determine the most expensive streets in the country, NWW looked at price per square metre for a property. Unsurprisingly, most of the country’s most expensive streets and developments are found in Cape Town, with no other region making it into the top 10.
However, NWW also provided the top five most expensive streets and developments outside of the Mother City for perspective.
According to realtor, Seeff, luxury apartments on Cape Town’s Atlantic Seaboard have seen the price per square metre rocket over the past decade, with some expected to reach as high as R200,000 per square metre in the not-too-distant future.
The demand is fueled by a mix of residential, holiday and investment buyers with a spread of about 50/50 between local and upcountry buyers with foreigners representing only a small portion this year despite the weak currency, Seeff said.
“Five years ago, the R100,000/sqm mark seemed a reach – today, we are looking at the R200,000/sqm mark as the next milestone that will be reached quite soon, given the fabulous new luxury developments in Clifton and even in Mouille Point,” the group said.
As at August 2017, a total of 17 properties in Cape Town have sold for over R20 million, six of which are apartments.
According to NWW, the high price per square metre on these streets – coupled with a high number of R20 million-plus sales – makes these areas the most exclusive in the country.
The most expensive streets and developments in South Africa
| South Africa | ZAR per sqm | 200sqm Apartment cost |
|---|---|---|
| The Ridge & Cliff Road, Clifton, Cape Town | R96 000 | R19 200 000 |
| V&A Marina, Dock Road, City Bowl, Cape Town (development) | R90 000 | R18 000 000 |
| Victoria Road, Clifton and Bantry Bay, Cape Town | R88 000 | R17 600 000 |
| Nettelton Road, Clifton, Cape Town | R86 000 | R17 200 000 |
| Clifton Road, Clifton, Cape Town | R84 000 | R16 800 000 |
| Kloof Road, Clifton and Bantry Bay, Cape Town | R83 000 | R16 600 000 |
| Ave St Leon, Bantry Bay, Cape Town | R78 000 | R15 600 000 |
| De Wet Road, Bantry Bay, Cape Town | R76 000 | R15 200 000 |
| Ave Marina, Bantry Bay, Cape Town | R76 000 | R15 200 000 |
| Ocean View Drive, Bantry Bay, Cape Town | R75 000 | R15 000 000 |
The most expensive streets and developments in South Africa (excluding Cape Town)
| South Africa | ZAR per sqm | 200sqm Apartment cost |
|---|---|---|
| Michael Angelo & Raphael Suites. Sandton (development) | R45 000 | R9 000 000 |
| Beachyhead Road, Plettenberg Bay | R42 000 | R8 400 000 |
| Melrose Arch, Sandton (development) | R36 000 | R7 200 000 |
| The Houghton, Sandton (development) | R35 000 | R7 000 000 |
| Lagoon Drive, Umhlanga Rocks | R35 000 | R7 000 000 |
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