Cape Town’s Atlantic Seaboard dominates the 2010 list of South Africa’s most valuable residential areas. This year, it has no less than three of the top ten most expensive suburbs in the country, located along Cape Town’s most glamorous stretch of coastline.
Being home to some of the world’s finest beaches and some of the most expensive property in South Africa , Clifton has claimed the number one spot, with an average house price of almost R12 million. Nestling in a valley that is embraced by the Twelve Apostles mountain range on the one side and the mighty crash of the Atlantic Ocean on the other, nearby Llandudno comes in third at almost R8 million. In between, lies the trendy, cosmopolitan Camps Bay, which is ranked tenth in terms of house prices at an average of R6.6 million.
“Cape Town remains South Africa’s premier investment property destination across different categories of residential property, with once again seven out of ten of the highest priced suburbs in the Mother City. South Africa still offers excellent value for money from an international perspective, plus all the attractions that high net worth individuals demand. What is clear is that the wealthiest buyers want it all – security, scenic beauty, ocean views, mountain ranges, winelands, championship golf courses and proximity to an urban centre”, says Hayley Ivins of specialist property consulting firm, Lightshtone.