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A designer Clifton home boasting some of the best views in Cape Town is on the market for R200m.
The luxury villa is located on Nettleton Road, SA’s most expensive street with selling prices averaging between R150m-R200m.
According to Jo Lombard, Seeff Atlantic Seaboard luxury market specialist, the property is marketed as ‘price on application’. However, the seller is looking to get around R200m for the property.
“Whether this can be achieved in the current market remains to be seen. If R200m is achieved, it would be the most expensive Clifton home ever sold,” says Jo Lombard.
He says properties of this nature rarely become available, pointing out that the market has responded favourable to the listing.
“Buyers of properties in this price range are mainly foreigners, but we have had enquiries from local and high-profile buyers.”
According to Propstats data, the last highest price paid for property was 3 Nettleton Road – which sold for R120m in 2017.
Clifton villa sold for R120m. One of most expensive properties in South Africa., yet less than half of that spent on Nkandla compound upgrade.
— Peter Mansfield (@Peterman43) December 14, 2017
Seeff sold 5 Nettleton Road Clifton home for R110m in 2015. In 2013, 4 Nettleton Road property was sold for R50m, and 34 Nettleton Road property sold for R60m in 2010.
Clifton is an affluent and exclusive suburb and home to high net worth individuals, and mostly foreigners. It offers an attractive lifestyle with its highly rated four beaches, unrivalled sea views and expansive homes, according to Wikipedia.
Located on a 1,481m2 plot, it is one of the widest plots in the road designed by Peerutin Architects. The firm is well-known for designing luxury homes in Clifton and sought after areas in Cape Town.
The Clifton home features six en-suite bedrooms, two reception rooms, six garages, a media room, gym and wine cellar. It also offers stylish open-plan living and dining areas.
An expansive outside entertainment area with an infinity pool and one of Cape Town’s best views make this Clifton home appealing.
Clifton property market
According to Lombard, Clifton has been quiet with only about three sales in 2020. “This is not surprising given its exclusivity resulting in over a handful of sales annually. Luxury apartments with views however continue to be popular with buyers.”
New World Wealth reveals Clifton to be the most expensive suburb in South Africa. Here, properties are priced as much as R72,000/m2, with Bantry Bay coming in second at R67,000/m2 and Fresnaye at R54,000/m2. Camps Bay and Bakoven prices are R49,000/m2 and R46,000/m2 for Llandudno at R46,000/m2.
South Africa’s most expensive street in 2017: The Ridge & Cliff Roads, Clifton, where property costs R94,000 (US$7039) PER SQUARE METRE. pic.twitter.com/oqGl5Xve0h
— James Hall (@hallaboutafrica) January 24, 2017
Cape Town’s Atlantic Seaboard is home to four expensive streets to buy property in SA, according to New World Wealth.
Most expensive streets in South Africa
|Street name||Price per square metre (R)|
|Victoria Road – Clifton and Bantry Bay||80,000|
|The Ridge & Cliff Road – Clifton||78,000|
|Nettleton Road – Clifton||76,000|
|Clifton Road – Clifton||75,000|
|V & A Marina, Dock Road – City Bowl||72,000|
Source: New World Wealth
Lombard says the busiest price bands in the luxury areas are Fresnaye and Bantry Bay for houses below R10 million.
“The rand depreciation, coupled with approximately 20% property prices declines since 2019 has encouraged bargain hunting from foreign investors.”
Covid-19 international travel restrictions have resulted in many foreign investors being unable to view the properties they have enquired on.
“Despite increased interest, sales volumes and sales prices in the luxury market has reduced considerably compared to 2019.”
He says it is currently a buyers’ market in the top-end of the Atlantic Seaboard. “More than ever, buyers are looking for a value proposition.”
This Clifton home is well-located, and property prices have seen significant growth during the last economic growth phase,” he adds.
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