The top 10 luxury apartments in South Africa
A new report by AfrAsia Bank and New World Wealth rates the top 10 luxury apartment complexes in South Africa.
Prime luxury apartments have become common place in South Africa – especially in Cape Town, Sandton and Umhlanga – and recent trends in the market show that there has been a growing demand for these types of residences in the country over the past decade.
According to the report, a large number of luxury apartments were put up in Sandton and Cape Town during the 10 year period from 2005 to 2015 due to strong demand.
Although demand has slowed since then (2015 to 2017), there remain a few areas where new luxury prime apartments are still going up including: Illovo, Umhlanga, Ballito, Cape Town’s Waterfront and Bantry Bay.
Another trend seen over the past year, is that a large number of residential lifestyle and golf estates have also started to add luxury apartments onto their offerings. Previously, most residential estates had focused only on houses, New World Wealth said.
Following global trends, there has been a marked move away from traditional luxury apartments towards hotel residences, which are apartments in existing hotels that can be purchased. These effectively allow owners to live in a hotel permanently, and enjoy the same services normal guests do.
These types of residences sell at a premium, New World Wealth said.
The hotel residence model is starting to take off in South Africa – local examples include: the Cape Royale in Cape Town, the Taj Residences in Cape Town and the upcoming Oceans Hotel Residential Apartments in Umhlanga.
To rank the top luxury apartments in the country, AfrAsia Bank and NWW assessed the country’s offerings on design, location, security, quality and appeal, among other factors.
Whitehall Court in Killarney, Johannesburg, emerged as the top residence in the country, with “impressive internal gardens, sculptured pillars and high ceilings”. Apartments at Whitehall Court range from R3 million to R12 million.
These are how South Africa’s luxury apartments rank – and how much they cost:
1. Whitehall Court – R3 million to R12 million.
Whitehall Court is our top luxury apartment complex for 2017. Located in Killarney in Johannesburg, it has a timeless design, with impressive internal gardens, sculptured pillars and high ceilings.
2. The Bantry – R30 million to R40 million.
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.
3. Melrose Arch – R2 million to R30 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.
4. San Michele – R3 million to R30 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.
5. Franklin Row – R3 million to R10 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).
6. Michael Angelo & Raphael Suites – R3 million to R45 million.
The Michael Angelo & Raphael Suites are located in the heart of Sandton CBD, with easy access to Sandton City Shopping Centre.
7. V&A Marina Apartments – R90,000 per square meter.
The V&A Marina is located next to the One & Only Hotel in Cape Town’s Waterfront district. It is arguably the most expensive address in SA. Many of the owners there have their own yachts which they park in the marina.
8. The Pearls – R3 million to R30 million.
The Pearls is a large residential development in Umhlanga. It offers several types of units, ranging from beachfront garden apartments to sky-rise penthouses.
9. De Meermin – R3 million to R5 million.
De Meermin overlooks Lookout Beach and the Lagoon in Plettenberg Bay. It is the only Garden Route apartment complex in the top 10.
10. The Bermudas – R3 million to R10 million.
The Bermudas is a well-established development in Umhlanga. It offers garden apartments and high rise units normally with 2-3 bedrooms each. It is very well maintained with nice internal gardens and an impressive pool on the upper levels. It has easy access to the beach.
The report also listed a number of other contenders which did not crack the top 10. These are:
- 70 on Melville (new) – Illovo, Johannesburg.
- Aurum (new) – Bantry Bay, Cape Town.
- Blue Waters – Blouberg, Cape Town.
- Cape Royale – Greenpoint, Cape Town.
- Central Square (new) – Central Sandton, Johannesburg.
- Clifton Terraces (new) – Clifton, Cape Town.
- Eventide – Clifton, Cape Town.
- La Corniche – Clifton, Cape Town.
- Oceans Hotel Residential Apartments (new) – Umhlanga.
- ONE97 Hyde Park (new) – Hyde Park, Johannesburg.
- Sandton Emperor – Central Sandton, Johannesburg.
- Silo Apartments (new) – Waterfront, Cape Town.
- Strand Beach (new) – Seapoint, Cape Town.
- Taj Residences – City Bowl, Cape Town.
- The Onyx (new) – City Bowl, Cape Town.
- The Water Club – Granger Bay, Cape Town.
- The Yacht Club (new) – Waterfront, Cape Town.
- Umhlanga Arch (new) – Umhlanga.
Read: A look inside the best luxury hotels and villas in South Africa in 2017
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