SA's most expensive streets are in Cape Town
DURBAN - A report by New World Wealth has revealed South Africa's prime residential prices which were shown to be down for the first quarter of 2018.
For their research, the group looked at the price of property per square metre all over South Africa.
They then pinpointed these three prime locations:
1. The Atlantic Seaboard, Cape Town, including Bantry Bay, Clifton, V&A Waterfront and Camps Bay.
3. Central Sandton
According to the research group, Cape Town's prime apartment prices have slightly dropped from about R75 000 per square metre in December last year to about R72 000 per square metre at the moment (March 2018).
New World Wealth said that this is probably because of the drought crisis in the city which has hurt the residential market. The Mother City also had a bad holiday season (December/January) with a number of travellers staying away from Cape Town due to the drought.
The prices for prime apartments in Central Sandton were also down in comparison to last year December. In December 2017 the price was R34000 per square meter and now it is R33000 per sqaure metre.
Umhlanga was the only location that an increase in comparison to the numbers from last year. The group attributed the increase to fact that a lot people are travelling to KZN instead of drought impacted Cape Town.
|Prime area||ZAR per sqm 2017||ZAR per sqm 2018||200sqm Apartment Price|
|Atlantic Seaboard, Cape Town||75 000||72 000||15 000 000|
|Umhlanga||36 000||37 000||7 200 000|
|Central Snadton||34 000||33 000||6 800 000|
South Africa's most expensive streets
|Street||Suburb, City||200 sqm Apartment Price (ZAR)||ZAR per sqm|
|The Ridge & Cliff Road||Clifton, Cape Town||19 000 000||95 000|
|Victoria Road||Clifton and Bantry Bay, Cape Town||18 400 000||92 000|
|V&A Marina, Dock Road,||Clifton, Cape Town||18 000 000||90 000|
|Nettelton Road, Clifton||Clifton, Cape Town||17 400 000||87 000|
|Clifton Road,||Clifton, Cape Town||17 000 000||85 000|
|Kloof Road||Clifton and Bantry Bay, Cape Town||16 800 000||84 000|
|Ave St Leon||Bantry Bay, Cape Town
||16 000 000||80 000|
|De Wet Road||Bantry Bay, Cape Town
||15 600 000||78 000|
|Ave Marina||Bantry Bay, Cape Town
||15 200 000||76 000|
|Ocean View Drive||Bantry Bay, Cape Town
||15 000 000||75 000|
Outside of Cape Town, two streets were ranked as the most expensive including Beachyhead Road, Plettenberg Bay where a 200 sqm apartment costs R8,6 million or R43 000 per sqm. The other street is Lagoon Drive in Umhlanga where a 200 sqm apartment costs R7,2 million or R36 000 per sqm.
South Africa's most expensive suburbs
|Suburb||200 sqm Apartment Price
|ZAR per sqm|
|Clifton||16 400 000||82 000|
|Bantry Bay||15 200 000||76 000|
|Fresnaye||12 200 000||61 000|
|Camps Bay||11 200 000||56 000|
|Bakoven||11 200 000||56 000|
|Llandudno||10 800 000||54 000|
|Granger Bay||10 800 000||54 000|
|Mouille Point||10 400 000||52 000|
|Greenpoint||9 600 000||48 000|
|City Bowl in Cape Town||9 400 000||47 000|
|Three Anchor Bay||8 000 000||40 000|
|Umhlanga||7 200 000||36 000|
||7 000 000||35 000|
|Bishopscourt||7 000 000||35 000|
|Central Sandton||6 800 000||34 000|
|Constantia||6 400 000||32 000|
Although Cape Town may be home to the country's most expensive streets, Durban's hotel developments are making it the city to keep an eye on.
According to the ManpowerGroup South Africa Managing Director, Lyndy van den Barselaar Durban will be developing key tourism projects including the St Lucia Eco-Hotel and the Durban Film City.
Durban is expected to have infrastructure projects worth more than R50 billion according to van den Barselaar.
- BUSINESS REPORT ONLINE