CAPE TOWN - Recently a beach apartment Cape Town sold for R53,8 million with the demand for beach apartments increasing.
We spoke with the Managing Director for Seef Atlantic Seaboard, Ian Slot about the trends in the beach apartment market.
According to Slot, the majority (90%) of the luxury apartments that cost more than R20 million have been sold to South African buyers. Majority of the buyers are from Cape Town but there have also been buyers from Johannesburg and KwaZulu-Natal.
Most of the apartments have been sold are for own-use residential purposes to buyers that are looking for a convenient, lock-up-and-go lifestyle with as little fuss as possible.
These apartments can also be purchased by buyers that are looking to get a second home that they would use as holiday homes or rental investments.
According to Adrian Mauerberger and Cecily Sher, the Seef Atlantic Seabord luxury team, the market has slowed down but luxury apartments are still commanding excellent prices.
Complexes in the Atlantic Seaboard area attract high prices for beach apartments. Eventide in Clifton can cost between R45 million to R75 million.
Other apartment complexes like the Clifton Terraces cost R40 million and Amalfi cost R80 million.
There is no "one-size-fits-all" on the Atlantic Seaboard and the areas and complexes vary greatly in terms of price which is based on the location of the complex, the views, what the apartment offers and whether the apartment is renovated or new.
Here are some luxury apartments that can be found in Cape Town.
1. Amalfi, Mouille Point: R78 million
Amalfi Photo: Facebook
2. Mouille Point: R88 million
Mouille Point Photo: Facebook
3. Clifton Terraces: R40 million
Clifton Terraces Photo: Facebook
- BUSINESS REPORT ONLINE