As South Africa gradually emerges from the national lockdown, the luxury
is showing promising signs of increasing activity, says Andrew Golding, chief executive of the Pam Golding Property group.
, purchased “sight unseen” by an American for R30 million, and a penthouse in the V&A Marina which fetched R41m, also acquired by a US buyer.
A R26m home in the Zimbali Coastal Estate in KZN was also sold.
residential property market
– from approximately R5m up to R100m and beyond in rare instances – remains predominantly a local market, with foreign buyers comprising only around 1% of total sales in any given time period.