Chance to call Clifton ‘home’

If you have cash, and lots of it, to burn, Clifton is the place to buy prop­erty

Business Day - Home Front - - FRONT PAGE - Michelle Swart [email protected]­


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.

Price: R45m Con­tact: Se­eff Prop­er­ties Renette Is­raeli 082 872 1656

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