sa’s top suburbs
The return of the trophy home
As South Africans of modest means feel the pinch of the rising cost of living, foreign and local buyers have returned to the country’s high-end property market with a bang. There have been some eye-watering sales of luxury seaside homes in the past year. In part, it’s a hedge against the uncertainty brought on by the war in Ukraine. But it also attests to South Africa’s compelling value proposition
15 December 2022 - 05:00
If there’s one thing estate agents in Cape Town’s big-ticket suburbs must be cheering about, it’s the return of cash-flush foreign buyers.
Karryn Cartoulis, an independent sales associate under the Re/Max Living umbrella, can certainly attest to this. She recently sold “Obsidian”, an ultra-lavish holiday pad in Clifton, to a European family for close to R160m. The five-level mansion is set against the slopes of Lion’s Head on Kloof Road, one of the Atlantic seaboard’s most expensive streets (see box)...
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