PROPERTY PREMISES
Atlantic seaboard still fetching top dollar
Cape Town’s housing market has started to slow, but the Atlantic seaboard is still notching up record prices
Still fetching top dollar Cape Town’s housing market has started to slow, in line with those of other major metros, as affordability and water-shortage issues force many would-be buyers to put investment decisions on hold. However, the Atlantic seaboard, arguably Africa’s swankiest stretch of real estate, is still notching up record prices. A luxury abode situated high on the slopes of Lion’s Head in Clifton recently sold for a staggering R120m. The sale was clinched by the Dogon Group, which was also responsible for the record-breaking 2016 sale of a Bantry Bay home for R290m. Sea Point — traditionally more affordable than neighbouring Bantry Bay and Clifton — can also boast a few record sales in the year to date. In early March, a four-bedroom beach-front penthouse apartment fetched R32m, the highest price achieved for a sectional title property in Sea Point. Malka Zinman, sectional title area specialist for Lew Geffen Sotheby’s International Realty, says the penthouse was sold wi...
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