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Johannesburg - Asking prices of trophy homes on Cape Town's swanky Atlantic Seaboard continued to test new highs, with a 1 000m² Bantry Bay home on the market for a staggering R100m.
If the seller gets his asking price, the sale would set a new record for freehold property prices in SA. The highest price achieved to date for residential property in SA is R111m in 2008 for the 800m² penthouse on the top floor of Sol Kerzner's new One & Only hotel at Cape Town's V&A Waterfront.
But that was a sectional title sale. The highest price paid to date for a stand-alone home (on less than two hectares) is believed to be R48m for a beach bungalow bought in Clifton in 2007.
The highest price yet achieved for a house in Bantry Bay is R36.5m. The home, sized at more than 1 000m² on a rare half-acre plot, was sold in March 2009. Latest figures from property research group Lightstone showed nine freehold homes were sold in Bantry Bay in the first nine months of 2009 for an average R9.3m.
The Pam Golding Property group (PGP), which has the sole mandate for the R100m Bantry Bay property, is punting the ultra-luxurious home as "one of the most outstanding modern homes ever built on Cape Town's Atlantic Seaboard".
And that's not all...
The home, built over three levels, occupies a "discreetly" elevated position above Bantry Bay with views across both the Twelve Apostles and Robben Island. Renowned Cape Town architect Stefan Antoni designed the four-year old home.
Laurie Wener, PGP MD for the Western Cape metro region, said the home would appeal to an elite group of buyers who seek only the very best in luxury and sophistication.
"From local captains of industry to celebrities, jet-setting socialites or international CEOs, this is a home for the sophisticated global nomad."
Super-rich investors, who can afford to fork out about R100m for a trophy home, still have the opportunity to buy one of two remaining One & Only penthouses overlooking the V&A Waterfront. Seeff Properties is marketing the two units for a cool R95m and R105m respectively.
There are also plenty of other buying opportunities for those who have a budget of less than R50m to blow on a posh address. A list of premium Western Cape properties for sale under the newly-launched Seeff Select banner include a R35m home in Bishops Court, a R27.9m property in Kwaaiwater, Hermanus, a R22m house on Erinvale Golf Estate in Somerset West, an R18.5m house at Pinnacle Point Mossel Bay, a R43m mansion in Bantry Bay, and a wine farm at Simondium for R17m.
- Fin24.com