Cape Town's luxury property market hits record R11.3bn in sales

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. 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.

Luxury sectional title prices continued to climb, with R169 713 per square metre achieved at The Aurum in Bantry Bay, R160 615 at Penrith in the Waterfront and R145 299 at The Breakers in Mouille Point.

International buyers played a major role, contributing about R2.8 billion — 25% of total sales value. Levin said buyers were largely from Germany, the UK and Northern Europe, with growing interest from across the globe and the African continent.

“They’re drawn to the quality, coastal resort lifestyle, and architectural standards which compare to the world’s most sought-after property locations,” he said.

The City Bowl also recorded a strong year, with 16 sales above R20 million and top prices of R63 million in Higgovale, R46 million in Oranjezicht and R44 million in Tamboerskloof. Sectional title properties dominated, accounting for 75% of transactions, mainly in the Central City.

Looking ahead, Levin said the outlook for 2026 remained positive, citing continued demand, limited stock and premium prices.

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