Wealth research group New World Wealth has released a new report on the top 10 luxury apartments in South Africa.
According to the group, to determine the top 10, it looked at a host of criteria, including the design and space; location; views and scenery; quality of fittings and finishings; and how the units appealed to wealthy individuals.
Other factors like communal spaces, security and facilities were also taken into account.
The list was created with help from South African real estate advisor Basil Weinrich, who also provided insights in to market trends.
According to Weinrich, the market for luxury apartments has consistently outperformed the general South African housing market over the past few years – and this is expected to continue.
“In particular, we expect luxury apartments in Seapoint in Cape Town to perform especially well going forward. We also expect strong growth in luxury apartments in Umhlanga and Ballito over the next few years,” he said.
Recent trends in this space include a rise in demand for apartments that are linked to shopping centres – as this allows residents to walk to the shops without having to walk across dangerous roads – as well as a large number of residential lifestyle & golf estates starting to add luxury apartments onto their offerings.
“Previously, most residential estates had focused only on houses,” Weinrich said.
Another trend that is gaining traction in South Africa is the concept of hotel residences, which refers to apartments in existing hotels that can be purchased. They essentially allow owners to live in a hotel permanently and enjoy the same services as normal guests do (i.e. room service, dining, cleaning etc.).
While this has gained popularity globally, the model is also starting to take off in South Africa – local examples include: the Houghton in Johannesburg, the Cape Royale in Cape Town, the Da Vinci in Sandton, the Michelangelo in Sandton, the Taj Residences in Cape Town, the Raphael Suites in Sandton and the upcoming Oceans Hotel Residential Apartments in Umhlanga.
These are the 10 best luxury apartment buildings in South Africa, according to New World Wealth:
This beautifully designed complex is located in Bantry Bay in Cape Town. It offers residents impressive views over the ocean and is wind protected. Notably, all the units there are relatively large (over 300 square meters each). The complex was designed by well-known SA architect Stef Antoni. Apartment prices there range from R30 million to R40 million.
Melrose Arch in Sandton is a unique mixed use residential area with apartments, offices and shops. It offers residents easy and safe access to local shops, bars and restaurants. Apartment prices there range from R2 million to R30 million.
The Embassy Towers is a lovely new luxury apartment block that overlooks the US embassy in Sandton. The 12 story complex consists of 93 exclusive apartments. Apartment prices there range from R7 million to R30 million.
Located in Killarney in Johannesburg, Whitehall Court has a timeless design, with impressive internal gardens, sculptured pillars and high ceilings. Apartment prices there range from R3 million to R12 million.
The Houghton is located in Houghton, Johannesburg. It doubles as a residential estate, with access to the Houghton Golf Course. There is also an upcoming hotel residence component to the development, which is particularly appealing to wealthy buyers.
It offers several types of units, including: one bedroom studios, mid-sized garden apartments and large sky-rise penthouses. Apartment prices there range from R4 million to R100 million.
San Michele is a beautifully designed complex located in Clifton in Cape Town. It overlooks the iconic Clifton Beach, which is one of the top rated beaches in the world and a major hangout for the world’s jet set. Residents have easy access to the beach. Apartment prices there range from R3 million to R30 million.
Franklin Row is located on Melville Road in Illovo, Johannesburg. Like Whitehall Court, it has a timeless design, with a very similar look to apartments in Belgravia (the most exclusive part of London, UK). Prices there range from R3 million to R10 million.
De Meermin overlooks Lookout Beach and the Lagoon in Plettenberg Bay. It is the only Garden Route apartment complex in our top 10. Apartment prices there range from R3 million to R10 million.
V&A Marina Apartments
The V&A Marina Apartments are located on Dock Road next to the One & Only Hotel in Cape Town’s Waterfront district. Residents have easy access to the Waterfront shopping centre which they can walk to. It is arguably the most expensive address in SA, with apartments there fetching around R90,000 per square meter. Many of the owners there have their own yachts which they park in the marina.
The Pearls is located in Umhlanga, overlooking the main beach. It offers several types of units, ranging from beachfront garden apartments to sky-rise penthouses. Prices there range from R3 million to R30 million.
- Aurum (new) – Bantry Bay, Cape Town
- Blue Waters – Blouberg, Cape Town
- Cape Royale – Greenpoint, Cape Town
- Clifton Terraces (new) – Clifton, Cape Town
- Da Vinci – Sandton, Johannesburg
- Eventide – Clifton, Cape Town
- Glengariff Sea Point (new) – Seapoint, Cape Town
- Harbour Arch (new) – City Bowl, Cape Town
- La Corniche – Clifton, Cape Town
- Michael Angelo – Sandton, Johannesburg
- Mount Green – Umdloti, Natal
- New Court at Alphen – Constantia, Cape Town
- Oceans Hotel Residential Apartments (new) – Umhlanga, Natal
- ONE97 Hyde Park (new) – Sandton, Johannesburg
- Raphael Suites – Sandton, Johannesburg
- Sandton Emperor – Sandton, Johannesburg
- Santorini – Shakas Rock, Ballito, Natal
- Silo Apartments (new) – Waterfront, Cape Town
- Taj Residences – City Bowl, Cape Town
- The Bermudas – Umhlanga, Natal
- The Onyx (new) – City Bowl, Cape Town
- The Regency – Menlyn, Pretoria
- The Water Club – Granger Bay, Cape Town
- The Yacht Club (new) – Waterfront, Cape Town
- Umhlanga Arch (new) – Umhlanga, Natal