Strong demand and outstanding sales prices contributed to a 26% increase in total sales value, driven by high-value transactions over R20 million. Property sales across Cape Town’s Atlantic Seaboard and City Bowl have hit a record R11.3 billion, driven by strong demand, faster transactions and soaring prices in the luxury market. “It has been an absolutely phenomenal year for the Atlantic Seaboard/City Bowl areas with high demand, faster sales, and sellers achieving outstanding prices,” said Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl.
The combined sales value jumped 26% from R8.9 billion in 2024 to R11.3 billion, underlining the growing appeal of the area to both local and international buyers. High-value properties priced above R20 million were the main driver, generating R4.2 billion in sales — a 61% increase on the R2.66 billion recorded the previous year. A total of 116 sales above R20 million were concluded, including 16 above R50 million and two exceeding R100 million.
Seeff accounted for 30 of these deals. Camps Bay led the over-R20 million transaction volumes with 29 sales, followed by Bantry Bay and Fresnaye with 17 each, and the Waterfront with 10. The two highest prices, both above R100 million, were achieved in Clifton.
Read Full Article on Cape Argus
[paywall]
In the apartment market, a record R65 million was paid for a Bantry Bay unit sold by Seeff. The Waterfront precinct also delivered a standout performance, with an average transaction price above R18 million and 10 sales over R20 million, seven of them concluded by Seeff.
[/paywall]
