Penthouse prices test new highs as Steyn City property sold for R33m
Pandemic-induced search for work-from-home opportunities has helped to boost properties in the R10m-plus category, and in those areas that might previously have been seen as too far from the office. While lockdowns did delay work on some developments, this was more than balanced by the desire for homes that offered much more than just accommodation
A lavish penthouse at lifestyle estate Steyn City on the edge of Sandton’s Fourways has been sold for R33m, believed to be the highest price achieved for a sectional-title property in Gauteng last year.
The last time an apartment changed hands in Gauteng for more than R30m was in 2019, when a penthouse at The Leonardo — the tallest building in Africa — reportedly fetched R45m. Before that, in 2011, a penthouse at The Houghton, spanning 1,238m², was sold off-plan for R54m...