R108000 for just one square metre
THE Cape Town property market is proving to be streets ahead of the rest of the country with research showing Dock Road in Cape Town’s V&A Marina selling for an average of an eye-watering R108 000 a square metre.
And in separate research, Cape Town has more than a third of the country’s most exclusive homes.
Data from New World Wealth, in conjunction with data compiled by Propstats & Lightstone and prepared by Seeff, reveals that there are about 2 300 South African homes valued at over R20 million with 22 residential streets claiming a figure higher than that as an average sales price.
About 880, or 38 percent, of South Africa’s top-priced houses are in Cape Town, followed by 550 in Johannesburg. Camps Bay is the most exclusive Cape Town suburb with 170 properties valued at over R20m. This is followed by Plettenberg Bay, up the coast, with 120 properties and then back to Cape Town, with Clifton at 110. Sandhurst in Gauteng is fourth on the list followed by KZN’s top area, uMhlanga and La Lucia combined, with 100 homes. Ballito is the only other KZN area on the list with 50 homes valued above R20m.
Data shows that when it comes to price per square metre the trend in Cape Town is Dock Road highest, followed by Ridge Road and Cliff Road overlooking Clifton’s Fourth Beach in Cape Town averaging R90 000 a square metre.
Few roads outside Cape Town are able to match the Mother City’s prices with uMhlanga, Sandton, and Plettenberg Bay topping the list outside the Western Cape. Beachyhead Drive (Plettenberg Bay) is the best of the rest at R46 000 a square metre, while owners in Melrose Arch (Sandton) can get R35 000 a square metre and Lagoon Drive in uMhlanga Rocks at about R31000 a square metre.