Trophy homes are back in vogue with estate agents reporting strong increase in property sales in wealthy suburbs where price tags typically exceed R10m TROPHY homes are back in vogue with estate agents reporting a strong increase in property sales in wealthy suburbs where price tags typically exceed R10m.Lew Geffen, chairman of Sotheby’s International Realty in South Africa, on Tuesday described the top end of the market in Cape Town and Johannesburg as being "on fire". Neither the upcoming election nor the prospect of further interest rate increases had done anything to slow demand for luxury housing."In March alone we sold R120m worth of property on Cape Town’s Atlantic Seaboard, including a V&A Waterfront property for R38m," Mr Geffen said. "In Johannesburg we have sold more than R150m worth of upper-end properties in the past three months, including two Sandhurst clusters for R28.5m each, a Sandhurst house for R21m and a vacant stand in Sandhurst."Increased demand for trophy pro...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.