Today's Big Stories

60% of top end Atlantic Seaboard property buyers are Capetonians

A Clifton property has gone for a record R111 million sale, proving that wealthy buyers are still seeing Cape Town's top end real estate as a good investment.

Managing Director of Seeff Properties, Ian Slot said blue chip property locations such as the Atlantic Seaboard are a good store of wealth.

(Also read our article: Why more Joburgers are flocking to buy property in Cape Town)

The luxury Clifton home in Nettleton Road was reportedly sold to a Johannesburg buyer, but Slot said 60% of top end property investors on the Atlantic Seaboard are Capetonians.

Listen to the full conversation (with Mike Wills standing in) on The John Maytham Show:

Realistically, there are only so many properties in that area. It's the most sought after area in South Africa.

Ian Slot, MD at Seeff Properties

R1bn worth of R20m-plus trophy homes sales have already sold across the city for this year, most in suburbs such as Clifton, Camps Bay, Bantry Bay and Fresnaye.

The previous highest price for a house in the suburb was R60m paid for a Nettleton Road property in 2010.

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