Cape Town’s lap of luxury – where a house will set you back R100 million

·4 Jun 2023

Camps Bay in Cape Town has seen several properties sold for astronomic figures since the start of the year.

“Astute investors are buying up properties in Camps Bay in anticipation of a rise in prices as the supply of homes for sale dwindles,” Alexa Horne from Dogon Group Properties said.

“Local buyers are largely from other provinces and part of the influx of semigrators moving to the Western Cape, whilst many foreign buyers are being drawn to Camps Bay for its prime location, luxury properties and value for money – with our property market offering luxurious properties at prices that are nominal when compared to the cost of similar properties in other countries.”

In January 2023, four foreigners bought properties in the suburb with a foreign investment totalling R54,900,000.

Moreover, in February, total investment in Camps Bay grew to R90,850,000, and in March, two buyers – from Germany and the Netherlands – invested R62,350,000 into the region

“So far, 2023 sales figures indicate that the appetite for the Atlantic Seaboard, and suburbs like Camps Bay, is due to retain its buoyancy as the uptick in semigration, and ongoing foreign investment, fuels another highly successful year,” said Andi Ashton for Dogon Camps Bay.

“The property market in this scenic suburb continues to trend upward, with housing prices on the rise amid stock shortages. Observing the first part of 2023, sales are looking excellent, and stock is decreasing.”

According to the Africa Wealth Report 2023, 40% of South Africa’s million-dollar homes are located across seven suburbs in Cape Town, which Camps Bay and a host of other suburbs on the Atlantic Seabord.

Dogon said that it has one property available in Camps’ Bay for R100 million, with ‘lower priced’ properties in the area on the market for R16.5 million.

“Prices are high in Camps Bay, but demand is equally high for correctly priced properties, and there is very little available in the area. Currently, it’s still a case of ‘snooze and lose’,” said Ashton.

Below are some properties in Camp’s Bay across various high-selling prices: