A look at the R72.5 million ‘gold’ apartment for sale in South Africa

·15 Nov 2024

R72.5 million three-bedroom apartment in Bantry Bay is on the market for R72.5 million.

According to Seeff, the Aurum (Gold in Latin) Presidential Apartment is a masterpiece. Notable features include air conditioning throughout the apartment, underfloor heating in the kitchen, dining area, and all en-suite bathrooms, lighting control for ambiance, and double glazing throughout the property.

The development has a dedicated concierge, valet service, and 24-hour staffed security personnel.

Each apartment in the development is found across one floor, ensuring a sense of exclusivity and tranquillity.

Other highlights include the ocean-facing terrace, complete with a private heated splash pool.

Three large terraces also surround the apartment, while each of the three bedroom suits have their own en-suite bathrooms that lead onto private terraces with ocean views.

The apartment features a separate laundry and scullery area, as well as an office/study allowing for the perfect work-from-home lifestyle.

Extras include a storeage area within the apartment as well as 2 dedicated parking bays alongside the building’s secure parking lot.

Seeff notes that Cape Town is seeing the highest prices paid for super luxury homes with Camps Bay, Clifton and Constantia leading when it comes to homes sold priced over R20 million this year.

Notably, rich Gauteng/Joburg buyers have bought more homes priced over R20 million in Cape Town this year compared to the wealthy suburbs of Johannesburg/Sandton.

Three of the properties bought in Cape Town by Gauteng/Joburg buyers were over R50 million.

Overall, 120 properties sold for over R20 million, while 10 were sold for over R50 million each.

According to the current year’s sales figures, all of Cape Town’s top ten suburbs have an average house price exceeding R10 million, with four of them, including Clifton (R43m), Llandudno (R27m), Camps Bay (R21m), and Higgovale (R20m), having an average price above R20 million:

Clifton (ave price R43m) – 11 sales from R20m to R66m (Gauteng buyer)

Llandudno (ave price R27m) – 5 sales from R20m to R45m (Dutch buyer)

Camps Bay (ave price R21m) – 16 sales from R20m to R68.25m (Dutch buyer)

Higgovale (ave price R20m) – 7 sales from R20m to R32.5m (Cape buyer)

Bishopscourt (ave price R19m) – 11 sales from R20m to R43.5m (Cape buyer)

Constantia Upper (ave price R18m) – 20 sales from R20m to R48m (Polish buyer)

Bantry Bay (ave price R17m) – 5 sales from R20m to R51m (Gauteng buyer)

Fresnaye (ave price R15m) – 4 sales from R20m to R45.9m (Cape buyer)

Waterfront (ave price R15m) – 9 sales from R20m to R50.4m (Cape buyer)

Oranjezicht (ave price R10m) 1 sale at R43m (UK buyer) (Source: Seeff/Propstats)

Ross Levin, licensee for Seeff Atlantic Seaboard, Waterfront and City Bowl said that the Atlantic Seaboard and City Bowl have enjoyed a strong year, with many sales over R20 million.

Camps Bay has already seen sales of over R1 billion, with three houses sold for over R50 million.

Gauteng buyers in Clifton have also paid up to R66m for a luxury home.

The StatsSA House price index shows that Cape Town property growth outstrips the rest of the country by some margin, with prices surging by 30% over the last half a decade. This is far higher than Joburg’s 8.6% growth.

“Good service delivery and well-managed infrastructure combined with the lifestyle and excellent capital value growth underscore the strong property market and its potential for significant capital appreciation,” said Seeff.

Images of the Bantry Bay apartment can be found below: