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Where are the 10 most expensive suburbs and streets for apartments in South Africa?


Where are the 10 most expensive suburbs and streets for apartments in South Africa?

Cape Town suburbs and streets dominates the South Africa Wealth Report by New World Wealth for the third quarter of 2017. The report by Andrew Amoils lists the most expensive streets, suburbs and towns in South Africa, as well as the fastest growing suburbs around the country. 

According to Amoils there are two ways to best determine the exclusivity of a suburb. These are by using the price per square metre, which is internationally considered to be the best way, or by looking at the number of R20 million homes in an area, which indicates how many wealthy people are living in a suburb.

Amoils says the first method has limitations, especially when it comes to valuing houses. "This is due to the garden element i.e. how do you value the garden? The truth is price per square metre stats only work really well on apartments and some areas don’t have many apartments which makes this tricky."

When looking at how many homes there are worth over R20 million in a suburb, he says the measure can be deceiving as areas with mostly large houses, such as Sandhurst, Plettenberg Bay and Bishopscourt, tend to outperform areas that have mainly apartments, such as Umhlanga, as very few apartments are large enough to cost over R20 million. 

Also, some suburbs like Contantia in Cape Town are much larger than others, for example Llandudno, which unfairly favours them, says Amoils. 

The stats in the article below are based on the average price per square metre of a prime apartment (200-400m2) in each area. 

Top 10 most expensive streets 

Cape Town occupies all 10 positions with most streets in Clifton or Bantry Bay apart from Dock Road in Cape Town Waterfront’s V&A Marina which ranked in second position. 

Most Expensive Streets

Price per square metre

1. The Ridge & Cliff Road, Clifton, Cape Town

R96 000/m2

2. V&A Marina, Dock Road, City Bowl, Cape Town

R90 000/m2

3. Victoria Road, Clifton and Bantry Bay, Cape Town

R88 000/m2

4. Nettleton Road, Clifton, Cape Town

R86 000/m2

5. Clifton Road, Clifton, Cape Town

R84 000/m2

6. Kloof Road, Clifton and Bantry Bay, Cape Town

R83 000/m2

7. Ave St Leon, Bantry Bay, Cape Town

R78 000/m2

8. De Wet Road, Bantry Bay, Cape Town

R76 000/m2

9. Ave Marina, Bantry Bay, Cape Town

R76 000/m2

10. Ocean View Drive, Bantry Bay, Cape Town

R75 000/m2

Most expensive streets outside of Cape Town 

Most expensive suburbs in SA 

Prime apartments in Clifton, Cape Town, average R80 000/m2  while in  Sandton Central in Gauteng you’ll pay around R36 000/m2. 

Most Expensive Suburbs

Price per square metre

1. Clifton

R80 000/m2

2. Bantry Bay

R75 000/m2

3. Fresnaye

R60 000/m2

4. Camps Bay & Bakoven

R56 000/m2

5. Llandudno

R54 000/m2

6. Green Point, Granger Bay & Mouille Point

R47 000/m2

7. City Bowl (City Bowl includes Higgovale, Oranjezicht, Tamboerskloof and V&A Marina)

R45 000/m2

8. Central Sandton

R36 000/m2

SA’s fastest rising suburbs

The fastest growing suburbs in SA in terms of square metre price growth over the past year were Sea Point, Illovo, Parkhurst, Noordhoek, Franschhoek, Natures Valley and Zinkwazi. 

However, Amoils says it should be noted that all these suburbs start from a relatively low price base when compared to the likes of Bantry Bay and Clifton. 

Fastest Rising Suburbs

Price per square metre

1. Sea Point

R30 000/m2

2. Illovo

R17 000/m2

3. Parkhurst

R12 000/m2

4. Noordhoek

R11 000/m2

5. Franschhoek

R10 000/m2

6. Natures Valley

R8 000/m2

7. Zinkwazi

R8 000/m2

Author Property 24 Article
Published 26 Oct 2017 / Views -
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