SA's most expensive streets are in Cape Town Photo: Facebook
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.
2. Umhlanga
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)
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
Seapoint
7 000 000 35 000
Bishopscourt 7 000 000 35 000
Central Sandton 6 800 000 34 000
Constantia 6 400 000 32 000

Durban developments

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.




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