Exquisite views make Clifton streets most expensive to live on
IF YOU live on The Ridge or Cliff roads in Clifton, you have bragging rights to the most expensive streets in South Africa.
Cape Town’s swanky suburb, with its sweeping views of the Atlantic Ocean, is home to some of the country’s costliest addresses.
Researchers at New World Wealth said the most exclusive streets – with The Ridge and Cliff roads in Clifton topping the list – cost R94 000/m².
The exclusive streets list, according to New World Wealth’s head researcher Andrew Amoils, is based on property sales registers and calculated at an average price of a 200m² apartment on each street.
Amoils attributed the exorbitant prices in Clifton to the views, beach access, and properties being protected against gusty winds.
The majority of South Africa’s most exclusive streets are in Cape Town, with property on Dock Road at the V&A Waterfront costing R92 000/m² and homes going for R85 000/m² on Nettleton Road, also in Clifton.
Those with cash to splash will have to fork out R83 000/m² on Kloof Road in Clifton, and aspirant home owners will have to cough up R55 000/m² to live on Geneva Road in Camps Bay.
Pam Golding Properties Atlantic Seaboard area manager Basil Moraitis said the unrelenting demand for property in the area was driving prices.
Properties on The Ridge and Cliff roads, as well as Kloof and Nettleton roads, offered spectacular views of the sea and mountain.
“Furthermore there is no geographic space to expand, because of the sea and the mountain, and this places an added premium on stock availability.”
He said property prices at the Waterfront were also rising because of the relocation of blue chip leading companies, making units in the area highly sought after.
“A growing number of expatriates are also choosing to invest in the area, which offers a lifestyle comparable to popular European and Mediterranean destinations.”
Further up the coast, Beachy Head Drive is Plettenberg Bay’s most costly street at R46 000/m², while Lagoon Drive in Umhlanga Rocks, near Durban, has property for R31 000/m².
Plettenberg Bay property agent Ling Dobson said of the town’s most expensive street: “There are few areas that attract such incredible value as at Beachy Head Drive.
“When a client purchases a home and then razes it to build their own dream home, the action speaks for itself.”
Umhlanga property agent Gareth Bailey said Lagoon Drive was the highest priced in the seaside town because it was home to the frontline properties on the main swimming beach.