Atlantic Seaboard's average selling price nears R20m
Category General News
The Atlantic Seaboard is one of the most sought-after regions for luxury property in South Africa. It has consistently raked in the highest selling prices over the years, and with the recent R15m benchmark being broken, the average full title selling price is now nearing R20m.
The top five suburbs on the Atlantic Seaboard, namely Clifton, Bantry Bay, Camps Bay, Llandudno and Fresnaye, are also the top five high-selling suburbs in South Africa. Despite a slow market in the luxury property sector, freehold and full title houses are still fetching around R20m a piece.
In 2017, houses in the R20m-plus sector brought in around R1,7bn to the property industry alone. The most expensive of these 87 properties sold for over R100m! Camps Bay boasted 11 homes that sold for over R20m in 2017, while all the full title sales in Clifton exceeded this benchmark. More than 80% of these mega sales were to Capetonians, followed by Joburg buyers, then foreigners.
Here are the top five suburbs on the Atlantic Seaboard, and their average selling price for full title houses:
- Clifton - average R18m
- Llandudno - average R17,8m
- Bantry Bay - average R17,7m
- Camps Bay - average R17,7m
- Fresnaye - average - R16,6m
Property developers and estate agents agree that the time is right to purchase property on the Atlantic Seaboard, even vacant land. The most noteworthy road in the entire country is Nettleton Road, Clifton, where the average selling price is just under R100m per house, based on the last three houses sold. This presents a massive opportunity for developers and property investors who have the means to purchase in the area.
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Want to rent, buy or sell your property on the Atlantic Seaboard or in Woodstock, Cape Town? Berman Brothers Properties specialise in listing and selling your property and we have a variety of available houses, new apartments and other real estate options to ensure that you find your next dream home. Contact us on +27(0)21 439 9030 to find out more about the latest developments in area hotspots such as Woodstock, Green Point, Sea Point, Llandudno, Camps Bay or Three Anchor Bay.
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Author: Berman Brothers