Luxury homes in Cape Town's Southern suburbs sell rapidly, with prices soaring to R65 million
Properties in Newlands are in demand.
Image: Tracey Adams
Homes in Cape Town's most desirable areas are selling rapidly, with prices reaching R30 million in Newlands and R65 million in Bantry Bay.
According to Propstats data from Seeff Southern Suburbs, Newlands is among the fastest-selling areas, with properties averaging sales in just two weeks.
Last year, the average property price in Newlands was R9.9 million, reflecting a 16% year-on-year increase, driven by limited stock.
BetterBond’s April Property Brief noted that average home prices across South Africa reached new highs, with first-time buyers entering the market at R1.35 million.
Overall, average home prices gained 5.3% year-on-year in the first quarter to R1.67 million, its data shows.
In Newlands, Seeff said, high-value transactions dominate, with 64.7% of sales this year above R10 million.
Prices have reached as high as nearly R30 million, while sellers are achieving close to asking price, with an average discount of just 3.2%.
A home in Cape Town's Cannon Brewery, being developed by Manor Life, associated with the Wytham Estate in Upper Kenilworth.
Image: Seeff
Stephen Buerger, property professional with Seeff Southern Suburbs, said sellers are achieving excellent prices with the average discount on the asking prices being just 3.2% this year.
Demand is being driven by the area’s central location, access to schools and amenities, and lifestyle appeal, with interest from local buyers, semigrants and retirees.
This has highlighted a shortage of high-end retirement options in the Southern Suburbs, particularly for buyers seeking independent living in established urban areas.
Meanwhile, Cape Town’s luxury apartment market continues to show strong demand, particularly along the Atlantic Seaboard and in the City Bowl.
Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl, said demand is driven not just by local Cape buyers but also buyers from Gauteng and KwaZulu-Natal along with international buyers.
Sectional title units accounted for about 76% of sales across these areas, generating R6.1 billion last year and R1.5 billion so far this year.
The Waterfront in particular has seen a record R781 million in sales in 2025 and already stands on R314 million this year.
In Bantry Bay, properties have sold for as much as R65 million, with another property, that occupies a full floor of The Aurum Presidential Suites up for sale for R87.5 million.
Demand is being supported by limited supply, lifestyle appeal and continued tourism activity, which is contributing to investor interest in the market.
Homes in Clifton have gone for R39.5 million, while some sales in the central business district reached more than R5 million.