{"id":787064,"date":"2024-08-16T17:00:00","date_gmt":"2024-08-16T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=787064"},"modified":"2024-08-16T16:37:33","modified_gmt":"2024-08-16T14:37:33","slug":"a-look-at-the-r57-million-villa-for-sale-in-south-africas-monte-carlo","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/787064\/a-look-at-the-r57-million-villa-for-sale-in-south-africas-monte-carlo\/","title":{"rendered":"A look at the R57 million villa for sale in South Africa’s ‘Monte Carlo’"},"content":{"rendered":"\n

A “grand villa” in Bantry Bay, Cape Town, is on the market for R57 million. <\/p>\n\n\n\n

According to Dogon Group Properties<\/a>, Bantry Bay’s luxury lifestyle and sea views along its stretch of coastline make it the “Monte Carlo of Africa.”<\/p>\n\n\n\n

“Built to take advantage of Bantry Bay\u2019s idyllic micro-climate and long summer afternoons, this sunny villa boasts an exceptional terrace and swimming pool overlooking the ocean,” said Dogon Group Properties. <\/p>\n\n\n\n

“Extraordinary outdoor space, both open to the sky and undercover, perfect for an al-fresco meal, a glamorous party or a sunset wedding.” <\/p>\n\n\n\n

The house is a classic double-storey, with formal and informal living rooms downstairs. The kitchen and four bedrooms upstairs lead onto ocean-facing terraces. <\/p>\n\n\n\n

“This grand villa would benefit from renovating the bathrooms and kitchen, an opportunity to personalise,” said Dogon.<\/p>\n\n\n\n

The property also has ample staff and security accommodation, as well as off-street parking for seven cars. <\/p>\n\n\n\n

Dogon said that Cape Town’s real estate sector saw an exhilarating first half of 2024. <\/p>\n\n\n\n

Alexa Horne, MD of Dogon Group Properties, said that the luxury market has shown robust performance, especially for properties priced over R20 million. <\/p>\n\n\n\n

\u201cCape Town\u2019s allure for overseas investors, driven by favourable exchange rates and the city\u2019s value-for-money lifestyle, continues to bolster the market,” said Horne. <\/p>\n\n\n\n

“This surge in interest has seen sales exceeding R40 million, underscoring the confidence of ultra-wealthy buyers in Cape Town\u2019s vibrant market.\u201d<\/p>\n\n\n\n

Semigration trends have played a crucial role, with the Western Cape seeing its inbound migration rates double from pre-2020 figures. <\/p>\n\n\n\n

Employment opportunities and the region’s high standard of living are significant draws, said Horne. <\/p>\n\n\n\n

Semigration property purchases intended as the main residence account for the majority of purchases, but investment and rental property interests are also on the rise. <\/p>\n\n\n\n

\u201cAdding to this momentum, the City of Cape Town secured a R3.5 billion financing boost for infrastructure investment, promising to further enhance the city\u2019s appeal and support real estate growth,” said Horne. <\/p>\n\n\n\n

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Nedbank pumps R3.5 billion into Cape Town<\/a><\/blockquote>