Samuel Seeff, chairman of the Seeff Property Group, says Cape Town is where prices have reached upwards of R100million to R275m. In Bishopscourt and upper Constantia in the southern suburbs, prices have topped R60m.
Seeff said the buyer profile of these mansion properties tend to be mixed, ranging from business executives and entrepreneurs to foreign embassies and consulates. Foreign buyers are also attracted to these top-end properties given the good value they represent in dollar and euro terms, especially coastal and vineyard properties.
Andreas Wassenaar, Seeff’s licensee and principal in Zimbali who is also a long-time resident in Zimbali Coastal Resort, said it represents the pinnacle of residential property in KZN.
“The price bracket for new superbly appointed beachfront villas ranges from R25m to R70m. These homes typically offer between 650m2 to 1000m2 of designer state-of-the-art living spaces by leading KZN architects.