Chance to call Clifton ‘home’
If you have cash, and lots of it, to burn, Clifton is the place to buy property
THE upmarket and well known suburb of Clifton lies just beyond Bantry Bay, between Sea Point and Camps Bay. Home to Millionaire’s Row, fashionable Clifton is known as Cape Town’s St Tropez, and its four beautiful beaches attract holidaymakers in their droves. Clifton beach has something of a reputation with the trendy set in Cape Town and is a haven for international jetsetters.
“Never has there been a more beautiful beach house for sale at Clifton as the one we are privileged to offer,” says Renette Israeli of Seeff Properties who is marketing this home. Recently completed, this beach house encompasses all that is expected of a twentieth century lifestyle. This brand new property has four bedrooms and four bathrooms, with the main suite taking up the entire top floor.
The expansive inter-leading entertainment and reception areas all enjoy ocean views and are complemented by the wraparound deck and swimming pool. This home also has a sound proof cinema room.
Properties situated in this exclusive area come with a price tag one would expect. Israeli says that entry level homes here sell for around R15m, which would buy an un-renovated bungalow measuring a maximum of 200m². Mid level homes here, she says, sell between R25m and R35m for a nicely renovated bungalow but normally with no parking and tons of stairs down from Victoria Road.
“The most expensive homes in Clifton can be priced up to R50m. These will be situated on the ridge
A good location in which to invest in property as it is one of the most expensive locations in Africa
at 4th Beach. There are about seven homes on this ridge, and the most expensive of these boasts its own on-site parking with direct access into house. It’s the parking that makes it so much more valuable. These hardly ever come up for sale,” says Israeli.
Looking at appreciation of property here, Israeli reports a minimum of 10% year-on-year growth. “For example, the last bungalow sold here was by myself in 2007 for R 31,5m — a record price at the time. The price tag is now R50m.”
While the demand for Clifton properties has been slow, Israeli says that it’s a good location in which to invest in property as it is one of the most expensive locations in Africa, it is small and supply is at a premium. This means that the prices hold their own.
Looking at appreciation in Clifton’s sectional title market, she notes that the Eventide apartment block which was completed two years ago came onto the market at R30 000/m². Resales have taken place at over R60 000/m²
Knowledge Factory’s SAPTG statistics show that 43% of homes in Clifton are full title, with the balance of 57% made up in sectional title apartments.
The predominant price band for the 379 full title properties is in the R5m plus category, with the median land size sitting at around 445 m². The figures show that eight full title properties have taken transfer so far this year for an average price of just over R20m. Comparatively, there were 11 transfers that took place last year for an average price of R15,621m.
Due to the scarce supply of land in the area, ongoing high demand for “priceless and cannot be replaced” properties with strict building restrictions, buying property in Clifton is considered to be an ideal investment opportunity.
With its four famous relatively wind-sheltered beaches, famous residents and the famous Nettleton Road, one thing is for certain: it is only a very privileged few who get to call the suburb of Clifton in Cape Town home.
If you are in doubt as to Clifton being home to some of Africa’s most expensive real estate, consider this: five properties in Nettleton Road have been appraised at a combined value of close on R400m.
Contact: Seeff Properties Renette Israeli 082 872 1656