What R20 million can get you in Cape Town, Joburg and Umhlanga

·20 Apr 2024

South Africa’s high-end property market is seeing increased interest from local and international high-net-worth buyers amid global uncertainty.

Andrew Golding, chief executive of the Pam Golding Property group, said that Cape Town is incredibly appealing due to its natural features, drawing in a large number of international buyers.

Individual home sales in the Southern Suburbs and Atlantic Seaboard to both local and global purchasers can exceed R20 million and range north of R90 million.

“Overseas buyers in these areas are still predominantly from traditional European markets, but now further prompted by geo-political issues which appear to have boosted sentiment in respect of the top-end residential property market in the Cape, coupled with the value offering when compared to global high-end markets,” said Golding.

“This trend is further fuelled by a steady stream of migrators relocating permanently to the Cape from other regions as a lifestyle choice, with the Mother City’s R120 billion 10-year infrastructure investment programme and pro-active approach to reducing load-shedding providing further incentive – not to mention a host of lifestyle attractions.”

The Cape’s Boland region is also incredibly attractive to buyers, with properties in the prestigious Val de Vie Estate selling in excess of R25 million.

The Western Cape’s Garden Route is also proving attractive to international buyers, with many looking to relocate to Knysna from Switzerland, Belgium, Germany and America.

“In Gauteng, we are seeing positive signs regarding confidence in the market in general and currently dealing with high net worth buyers in all our top-end luxury areas regarding freestanding homes, including those in estates.”

“Achieving high-end prices largely relies on the location and prestige of the specific address, and those that offer status, top-notch security, a luxurious lifestyle and in many instances, high-end amenities, do not face challenges in terms of demand.”

High-end areas, such as Monaghan Farm, Blair Atholl, Dainfern Estate, Hyde Park, Sandhurst and Westcliff, are seeing heightened interest.

Golding also noted the increase in reverse emigration in Gauteng, with South African expats who live in London returning home.

Reverse emigration trend picking up in South Africa

There is also heightened interest from other African countries, such as Kenya, Angola, Mozambique, Botswana and Zimbabwe.

In KwaZulu-Natal, La Lucia and Umhlanga remain sought-after suburbs, with prices ranging from R7 million to roughly R37 million.

“The luxury end of this (KZN) market has been attracting interest from buyers based in Johannesburg as well as those based in countries like Dubai.”

“Most are seeking modern homes, and as mentioned above, preferably in estates, so currently we are seeing more movement in estates like Hawaan Forest and Izinga, than we are in freestanding homes.”

Below are luxury properties on the market in South Africa for roughly R20 million: