Three of top 10 suburbs in Cape Town

2010-09-02 10:48

Three of South Africa’s 10 most valuable residential areas are located along Cape Town’s coastline, according to a Lightstone properties report.

Clifton claims the number one spot on the 2010 list of South Africa’s most valuable residential areas released today, with an average house price of almost R12 million.

Nearby Llandudno comes in third, with an average house price of R8 million.

Trendy, cosmopolitan Camps Bay is ranked 10th, with house prices at an average of R6.6m, Lightstone says.

According to Lightstone consultant Hayley Ivins, in 2010 premier beachfront properties outperformed golf estates, which dominated the list last year.

“Golf estates do still feature prominently though,” she says.

Ivins says Steenberg Golf Estate in the winelands area of Constantia, Cape Town, is ranked the second highest-priced suburb in the country, at an average house price of R11 million.

Zimbali Coastal Resort in KwaZulu-Natal was the seventh most valuable residential area in South Africa, with average house prices at just more than R8 million.

Bishopscourt and Constantia in Cape Town were ranked sixth and eighth respectively, while the V&A Waterfront residential marina in the heart of Cape Town’s working harbour precinct and inner city shopping destination was ranked fifth.

Ivins says Johannesburg featured just two suburbs in the top 10.

The “old-money enclave” of Westcliff, north of Johannesburg, ranked fourth at an average selling price of R8.54 million.

Upscale Sandhurst, in Sandton, “home to many of South Africa’s captains of industry”, came in at ninth with an average house price of just more than R7 million.

“With high net-worth individuals from all over the world taking part in South Africa’s soccer extravaganza this year, it will be interesting to see what effect this will have on these trends, as the benefits of the World Cup filter through to the property industry,” says Ivins.

She says South Africa still offers “excellent value for money” from an international perspective.

“What is clear is that the wealthiest buyers want it all: security, scenic beauty, ocean views, mountain ranges, winelands, championship golf courses and proximity to an urban centre.”

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