{"id":788931,"date":"2024-08-30T17:00:00","date_gmt":"2024-08-30T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=788931"},"modified":"2024-08-30T18:50:15","modified_gmt":"2024-08-30T16:50:15","slug":"a-look-at-the-r70-million-lions-head-home-with-its-own-elevator-and-sauna","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/788931\/a-look-at-the-r70-million-lions-head-home-with-its-own-elevator-and-sauna\/","title":{"rendered":"A look at the R70 million Lion’s Head home – with its own elevator and sauna"},"content":{"rendered":"\n

A four-bedroom house in Clifton is on the market for R69.95 million. <\/p>\n\n\n\n

Seeff<\/a> said Number 1 Nettleton Road is a multi-story home with its own lift and is situated against Lion’s Head, bordering natural vegetation with spectacular ocean and mountain views.<\/p>\n\n\n\n

It has direct mountain access to Lion’s Head, which is incredibly rare. <\/p>\n\n\n\n

The property includes four luxury bedroom suites, an office, a sauna room, triple garages, a swimming pool, and outdoor entertainment areas. It also has a backup generator, high-tech automation, and security.<\/p>\n\n\n\n

Clifton is the most expensive area in South Africa, with an average selling price of R43.9 million, double that of second-placed Camps Bay. <\/p>\n\n\n\n

Seeff said that only roughly 20 houses and five apartments go on sale in the small suburb each year, with close to R2 billion in sales over the last two five years.<\/p>\n\n\n\n

\u201cClifton benefits from a spectacular location between mountain and sea with some of the most exclusive homes in the country,\u201d said Seeff.<\/p>\n\n\n\n

\u201cIt also has the best Blue Flag beaches packed throughout the summer. It is almost impossible to find parking here in the summer, and if you want to spend a day at the beach, you need to come early.\u201d<\/p>\n\n\n\n

Nettleton Road, where the R70 million home is located, is the most expensive street in South Africa. <\/p>\n\n\n\n

Jo Lombard, a luxury sales specialist with Seeff Atlantic Seaboard selling 1 Nettleton Road, said prices could reach R200 million once the economy and market start moving faster. <\/p>\n\n\n\n

\u201cClifton is not just scenically superior to most other luxury suburbs in the country but has offered superior returns for property investors,\u201d said Lombard.<\/p>\n\n\n\n

\u201cOlder houses were bought some years ago and remodelled or demolished to create stunning villas which can compare with some of the best globally, and scenery matched only by areas such as the South of France.\u201d<\/p>\n\n\n\n

He added that investing sooner is better as prices continue to soar amid heightened demand. <\/p>\n\n\n\n

\u201cThe scenic setting, views, and limited land space all contribute to the demand and prices that buyers are willing to pay, not just to purchase, but also to rent a home or apartment here.\u201d<\/p>\n\n\n\n

Every Clifton property sold in 2024 has been over R20 million, with the highest recorded price being R66 million for a villa on Kloof Road.<\/p>\n\n\n\n

\u201cOver the last year, prices of R44 million and R50 million were paid for apartments in Eventide, and R37 million in San Michele.\u201d<\/p>\n\n\n\n

\u201cThe highest prices paid ranges to almost R187,000 per square metre.\u201d<\/p>\n\n\n\n

Clifton is so pricey that a parking spot of 16 sqm sold for R2.5 million. <\/p>\n\n\n\n

Notably, Ooba Home Loans data shows that the average house price in South Africa stood at R1.48 million in Q1 2024.<\/p>\n\n\n\n

Thus, a parking spot in Clifton costs over R1 million more than the average house in the country.<\/p>\n\n\n\n

Images of the Number 1 Nettleton Road can be found below: <\/p>\n\n\n\n

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Source: Seeff<\/figcaption><\/figure><\/div>\n\n
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Source: Seeff<\/figcaption><\/figure><\/div>\n\n\n
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Read<\/strong>: How load shedding could rear its ugly head in South Africa once again<\/a><\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

A four-bedroom house is on the market in South Africa’s most expensive area – where a parking spot costs R2.5 million. <\/p>\n","protected":false},"author":95,"featured_media":788961,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[26,10773],"class_list":["post-788931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-headline","tag-seeff"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/788931","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\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=788931"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/788931\/revisions"}],"predecessor-version":[{"id":789057,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/788931\/revisions\/789057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/788961"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=788931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=788931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=788931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}