A luxurious, prime located, four-bedroom Clifton bungalow has been sold for R70 million to an upcountry buyer for use as a holiday home, making it the second highest price for a residential property on the Atlantic Seaboard in 2021 to date.
The R70 million transaction concluded by Pam Golding Properties follows hot on the heels of their December 2020 sale of another Clifton bungalow for R37 million which was acquired by an Emirati buyer from Dubai.
“In recent months on the highly sought-after and world-acclaimed Atlantic Seaboard, there has been a marked increase in demand for luxury properties above R10 million, with properties correctly priced by motivated sellers achieving close to asking price,” said Dr Andrew Golding, chief executive of the Pam Golding Property group.
All the Clifton bungalows are subject to a strict zoning overlay which limits development, thereby enhancing the value of the properties as this regulation preserves the built environment, the property group said.
Overlooking Clifton’s Blue Flag rated Fourth Beach, with views of the Atlantic Ocean and direct beach access, the bungalow comprises four generously proportioned bedrooms – main en suite, with two additional bathrooms and a guest cloakroom.
With secure on-site parking for four cars, the home includes expansive entertainment patios with a large swimming pool and sweeping scenic views, a staff suite with private bathroom and separate entrance, and separate laundry with a walk-in pantry.