New World Wealth has released a new report on the best luxury apartment complexes in South Africa.
According to the group, apartment complexes are sometimes also considered to be residential estates in their own right.
It added that luxury apartments have been the best performing residential segment in SA over the past decade (2009 to 2019) as many buyers have moved away from houses.
“There has been a rise in demand for apartments that are linked to shopping centres as this allows residents to walk to the shops without having to walk across dangerous roads (examples: Melrose Arch, the Pearls in Umhlanga and the Raphael Suites in Sandton City),” New World Wealth said.
“A large number of lifestyle & golf estates have started to add luxury apartments onto their offerings. Previously, most estates had focused only on houses.
“There has been a rise in demand for hotel residences and serviced apartments. ‘Hotel residences’ refer to apartments in existing hotels that can be purchased.
“They essentially allow owners to live in a hotel permanently and enjoy the same services as normal guests do (i.e. room service, dining, cleaning etc.). The Raphael Suites in Sandton is one such example.”
Below are the top 10 luxury apartment complexes in South Africa for 2019 (in alphabetical order):
- De Meermin – Plettenberg Bay, Garden Route.
- Embassy Towers – Sandton, Johannesburg
- Melrose Arch – Sandton, Johannesburg
- Raphael Suites – Sandton, Johannesburg
- San Michele – Clifton, Cape Town
- The Bantry – Bantry Bay, Cape Town
- The Houghton – Houghton, Johannesburg
- The Pearls – Umhlanga, KZN
- V&A Marina Apartments – Waterfront, Cape Town
- Whitehall Court – Killarney, Johannesburg