{"id":779448,"date":"2024-07-02T16:00:00","date_gmt":"2024-07-02T14:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=779448"},"modified":"2024-07-02T13:46:21","modified_gmt":"2024-07-02T11:46:21","slug":"r175-million-for-a-small-piece-of-land-in-cape-town","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/779448\/r175-million-for-a-small-piece-of-land-in-cape-town\/","title":{"rendered":"R175 million for a small piece of land in Cape Town"},"content":{"rendered":"\n

Global real estate specialists Engel & V\u00f6lkers are selling a 1,124-square-meter plot in Clifton for R175 million, making it the most expensive piece of land per square meter on the market.<\/p>\n\n\n\n

Clifton is an affluent and sought-after suburb of Cape Town, home to some of the most expensive real estate in South Africa.<\/p>\n\n\n\n

Seeff Property Group\u2019s analysis of the average selling prices across the country in 2023 revealed just how expensive properties in Clifton are.<\/p>\n\n\n\n

Clifton was the most expensive suburb in South Africa, with a median price of R25 million and a peak of R150 million.<\/p>\n\n\n\n

Its main value is its fantastic views of the Atlantic Ocean. Most houses and apartments have unrestricted views with beautiful sunsets.<\/p>\n\n\n\n

However, it is not only the views which make Clifton a popular suburb among the world\u2019s super-wealthy.<\/p>\n\n\n\n

The cable and satellite television network Discovery Travel Channel rated Clifton as one of the top ten beaches.<\/p>\n\n\n\n

The area has a set of 4 beaches, which are frequently used destinations for locals and tourists.<\/p>\n\n\n\n

Although the water is cold, many people visit the beaches for sports like surfing and bodyboarding.<\/p>\n\n\n\n

Clifton is known for its small property sizes. This is because it was laid out by the City of Cape Town for soldiers returning from the first world war.<\/p>\n\n\n\n

Bungalows were built from packing cases used to import motor cars during the twenties and thirties.<\/p>\n\n\n\n

Most of the original bungalows have been replaced by modern houses. However, the narrow flights of stairs to the houses and beaches remain.<\/p>\n\n\n\n

Despite their small sizes, houses and apartments in Clifton fetch very high prices because of the location and prestige attached to the neighbourhood.<\/p>\n\n\n\n

There is also very little additional land available to build on, which creates an exclusive market with limited supply.<\/p>\n\n\n\n

R175 million for a plot<\/strong><\/h2>\n\n\n\n

Clifton\u2019s desirability and shortage of available land has seen a stand of 1,124 square meters come onto the market for R175 million.<\/p>\n\n\n\n

This equates to R155,694 per square meter, making it the most expensive stand in South Africa based on surface area.<\/p>\n\n\n\n

Engel & V\u00f6lkers, the estate agents selling the stand, promotes it as one of Africa\u2019s most desired and valuable residential locations.<\/p>\n\n\n\n

The property, located in a top position Nettleton Road, offers great views of Table Mountain, the Twelve Apostles mountain range, and the famous Clifton beaches.<\/p>\n\n\n\n

\u201cAs far as the eyes can reach, you will encounter ever-changing, mind-blowing views, be it sunrise or sunset,\u201d Engel & V\u00f6lkers said.<\/p>\n\n\n\n

It added that the qualified purchaser would be offered an opportunity to purchase approved building plans by well-known Jenny Mills Architects to build the multi-storey Villa.<\/p>\n\n\n\n

The building costs for the multi-storey Villa are estimated at between R65 million and R75 million.<\/p>\n\n\n\n

The images below show the stand in Clifton and the views from its location.<\/p>\n\n\n\n

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Read: Homeowners in South Africa are shooting themselves in the foot<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Global real estate specialists Engel & V\u00f6lkers are selling a 1,124-square-meter plot in Clifton for R175 million, making it the most expensive piece of land per square meter on the market.<\/p>\n","protected":false},"author":10,"featured_media":779450,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[2279,10707,12290],"class_list":["post-779448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-cape-town","tag-clifton","tag-engel-volkers"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/779448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=779448"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/779448\/revisions"}],"predecessor-version":[{"id":780319,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/779448\/revisions\/780319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/779450"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=779448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=779448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=779448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}