The wealthiest suburbs in Cape Town
Category Newsletter: Article
Cape Town is home to about 80 per cent of South Africa's wealthiest suburbs, becoming the home base for the affluent, given the variety in property and location - although 70 per cent of the property wealth is concentrated on the Atlantic Seaboard.
Nine of Cape Town's Wealthiest Suburbs
Cape Town's weather, beaches, schools, and municipality are known to get acclaim, but it's the city's suburbs that benefit most from everything that makes the area renowned.
This list of Cape Town's wealthiest suburbs is in no particular order; as markets change, so do buyers' preferences. Nevertheless, the suburbs on this list have earned their spot on this list for their resilient market value that demands buyers fork over multiple millions to benefit from an address in these prestigious locations.
Clifton
Clifton is known for its seaside villas and multimillionaire homeowners. This esteem was most prevalent when a parking bay just off Victoria Road in Clifton hit the market for a whopping R1.1 million.
Apartments in the suburb frequently sell for upwards of R10 million, and homes easily breach the R30 million mark. Still, it's likely million-plus parking bays and the hundred million-plus designer homes on Nettleton Road that cement Clifton's position as the wealthiest suburb in Cape Town.
Bantry Bay
Bantry Bay is home to some of the most sought-after properties and apartments on the Atlantic Seaboard. The suburb is Sea Point's affluent neighbour, with views of the pristine coastline and designer homes a draw.
Bantry Bay pricing is also relatively resilient, still breaching R10 million for a sectional title at the height of the pandemic and market downturn.
Fresnaye
Fresnaye - nestled between Bantry Bay and Sea Point - is the home of views. On the slope of Lion's Head, homes in the suburb have unobstructed views of the Atlantic seaboard beaches and cityscape, making it unsurprising that homes in the suburb have an average sale price of R11 million.
But the shield from the city's infamous windy days makes this suburb a gem.
Camps Bay
Camps Bay may not be the most expensive of Cape Town's wealthiest suburbs or the most expensive on the Atlantic Seaboard, but it is the region's heart.
The glorious white sandy beaches, the draw of Victoria Road, and two of the city's most prestigious public schools - Camps Bay Primary and Camps Bay High School - on your doorstep validate the nearly R30 million average sale price.
Bakoven
Bakoven has maintained its exclusivity because of a handful of luxury apartments and homes that make up the area between Table Mountain and the Atlantic Ocean.
Three-bedroom "modest" homes in the exclusive suburb easily breach the R10 million mark, while more elaborate seaside villas repeatedly break the R20 million mark.
Proximity to Camps Bay, gorgeous views of two of Cape Town's landmarks, and the quiet that comes with a sea of affluent neighbours give Bakoven's property market and asking prices resilience.
Llandudno
Lladundno earns its place on the list because - despite its size (being one of the smaller suburbs on this list) - if you had to calculate the price per square metre, Lladundno would easily come out on top, as it's home to two of the country's most expensive streets.
Homes on Logies Bay Road sell for an average of R27 million, while homes on Sunset Avenue average R20 million.
These figures aren't even indicative of current market value as homes in the suburb rarely make it onto the market, but when they do, they're sold quickly and for top dollar, typically to foreign currency buyers.
Higgovale
Higgovale is a small suburb beside Oranjezicht and nestled on the northern slope of Lion's Head. It's the only suburb to make this list on the City Bowl, and for a good reason.
Higgovale is home to some of the most opulent properties in Cape Town that demand a sale price of R15 million or more.
For years Higgovale went unnoticed by many buyers, but its position on the list was cemented as buyers fell in love with all the suburb's amenities, proximity to the city centre, and lavish mansions in an idyllic neighbourhood.
Bishopscourt
Bishopscourt is the Southern Suburbs's lesser-known millionaire and billionaire haven.
The area houses many of the most generously appointed estates with even more generous acreage and borders Kirstenbosch Botanical Gardens, which explains its notoriety for being a green and leafy suburb.
Buyer's in the suburb can expect to spend R10 million for a sprawling mansion in Bishopscourt, a small price given the amenities.
Constantia
Constantia is another one of Cape Town's well-known wealthy suburbs, known for its acreage, sprawling mansions, vineyards, and quiet, affluent lifestyle; the suburb is divided into sections that determine the cost of the property.
Bel Ombre is one of the wealthiest areas within Constantia, with some of the country's most expensive addresses found in the sprawling acreage on Table Mountain's slopes.
The area also has sought-after and exclusive golf estates, providing buyers and residents with the same privacy and luxury expected in the typical Constantia home but with the security of residing in a gated community.
Author: Coastal Property Group
