Where only a handful of sales topped the R20m price mark five years ago, there are today no less than 22 of the country’s residential streets where this is now the average sales price
Prices in these streets now regularly top the R20m price mark and range to as much R100m in Sandton and R200-R350m on Cape Town’s Atlantic Seaboard according to Samuel Seeff, chairman of the Seeff property group.
Based on a study of Lightstone and Propstats data undertaken by the Seeff property group, the Cape property market is literally streets ahead of the rest of the country with no less than 15 of these streets – nine on the Atlantic Seaboard (Clifton, Fresnaye and Bantry Bay) and six in the Southern Suburbs (Bishopscourt and Constantia). The remaining seven streets are in the Johannesburg and Sandton suburbs of Sandhurst, Hyde Park and Bryanston.
Says Seeff: “So, if you are looking for the most exclusive address in the country, make it one of these top ranked streets. By investing here, your property is surrounded by some of the most valuable residential real estate in the country and, based on history, property values are likely to continue appreciating at inflation topping rates.”
