{"id":650389,"date":"2022-12-11T15:00:53","date_gmt":"2022-12-11T13:00:53","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=650389"},"modified":"2022-12-09T14:32:06","modified_gmt":"2022-12-09T12:32:06","slug":"here-are-the-areas-that-sold-the-most-expensive-homes-in-cape-town-for-2022-including-one-that-sold-for-r125-million","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/650389\/here-are-the-areas-that-sold-the-most-expensive-homes-in-cape-town-for-2022-including-one-that-sold-for-r125-million\/","title":{"rendered":"Areas that sold the most expensive homes in Cape Town this year \u2013 including a R72 million apartment"},"content":{"rendered":"

Despite the economic challenges faced in 2022, the property market in Cape Town saw the most homes sold for over R20 million than ever before \u2013 including homes that sold for over R30 million, R50 million, R70 million, and even R100 million across the Atlantic Seaboard, City Bowl, and the Southern Suburbs.<\/p>\n

According to Seeff Property Group chairman Samuel Seeff, semigration has been one of the hottest trends in the property market in 2022, with home buyers seemingly undeterred by rising interest rates, fuel prices, and the overall cost of living.<\/p>\n

Emigration has been another topic in 2022 – especially with the year having the worst load shedding in South Africa’s history – however, Seeff said most South Africans don’t want to leave.<\/p>\n

Data from FNB shows that around 11% of all sellers in 2022 sold their homes intending to emigrate, while semigration accounted for as much as 20% of buyer enquiries, according to Seeff’s branches in the hotspot areas.<\/p>\n

“Most people don’t want to leave the country and would rather move elsewhere for better security, schooling and service delivery – which the Western Cape is known for. Another reason for semigration is high urbanisation which adds stress and traffic volumes, and people simply want to get away to a quieter area,” said Seeff.<\/p>\n

Regarding local buyers, Seeff noted that there had been an increase in buyers from areas such as Gauteng, KZN, the Eastern Cape and even Limpopo.<\/p>\n

Situated between mountain and sea and regarded as one of the world’s most beautiful cities, Cape Town’s allure is local and global, said Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl.<\/p>\n

“Due to economic challenges in the USA and Europe, more international buyers are investing their money in South African properties – which, despite its challenges, is seen as a stable property market”.<\/p>\n

Most expensive property areas in Cape Town\u00a0<\/strong><\/p>\n

According to Seeff, more properties have sold above R20 million in Cape Town than ever before.<\/p>\n

By the end of November, some 111 such properties had already sold to the combined value of over R3.5 billion<\/strong>, exceeding the previous highs of 2017 \u2013 representing a year-on-year increase of 56% compared to 2021.<\/p>\n

The bulk of the super luxury sales was on the Atlantic Seaboard (Clifton, Bantry Bay, Fresnaye, Camps Bay and Waterfront), City Bowl (Oranjezicht and Higgovale), and in the Southern Suburbs (Constantia and Bishopscourt).<\/p>\n

The Atlantic Seaboard and City Bowl market saw the most money spent on homes, boasting a year-on-year increase of 23% in combined sales from R6.5 billion in 2021 to over R8 billion in 2022, said Seeff. The Atlantic Seaboard saw 25 of the highest prices paid in the country this year, three of which sold above R50 million.<\/p>\n

Notably, the Seeff sale of a luxury unit at the Aurum Presidential Residences in Bantry Bay lifted the price paid per square metre to a new record of R180,905\/sqm. The average price for a freehold house in Clifton now stands at R30 million, Bantry Bay at R24 million, Fresnaye at R19 million and Camps Bay at R15 million.<\/strong><\/p>\n

These were the most notable sales in and around Cape Town, as outlined by Seeff property:<\/p>\n