WORDS: DEBBIE LOOTS :: IMAGES: SUPPLIED
Everybody wants to move to Cape Town, and it’s not just the wealthy who are after a piece of the Mother City. Millennials and tech geeks are also staking their claims
It’s no secret that Cape Town is the most popular destination for semigration in South Africa; and with the retail giant Amazon soon to open in the R4bn River Club mixed-use development, the outlook for the property market is even better.
Samuel Seeff, chairman of the Seeff Property Group, affirms that although there may be a slowdown as buyers wait to sell their properties elsewhere first, the popularity of Cape Town is expected to remain strong for the foreseeable future. According to Ross Levin, the licensee for Seeff Atlantic Seaboard and City Bowl, high-end buyers view Cape Town as an emerging commercial hub and are actively investing in the city. “A stream of businesses is moving to the city,” he says. “According to a recent FNB report the city’s commercial property sector is doing better compared to most other areas with semigration being a definite boost.”
Reasons to move
Seeff says the deterioration of service delivery in many municipalities may also drive more people to the Cape, where the province’s beautiful natural surroundings only add to an all‑round better quality of life. Coastal suburbs are especially popular. “There’s no decline in prices here. In fact, Seeff’s agents continue to see a shortage of stock, especially in the R3m to R18m range,” says Levin.
“The Cape has seen a massive bounce back in tourism, and with that, a welcome return of international buyers.” This includes Russian and European buyers, particularly from Germany, the UK, and the Netherlands, who are seeking alternative markets to invest in while the Russian-Ukraine War continues. “If you are a seller, then Cape Town is where you want to be selling right now. If you are a buyer, then Cape Town is where you want to invest right now,” he says.
A property in the Silverhurst Estate, Constantia Upper
The highs and lows
Seeff agents for Camps Bay and the Atlantic Seaboard say there’s a demand for houses and apartments across the entire price spectrum. According to Adrian Mauerberger and Bryan Ginsburg, luxury sectional title agents with Seeff Atlantic Seaboard, there is high demand for luxury apartments, especially in the price range of R4,5m to R8m. However, there was a noteworthy sale of a super luxury beach apartment for a staggering R72m last year.
On the other hand, areas such as greater Milnerton and Blouberg still offer affordable housing options below R1,8m. These suburbs have witnessed significant sales and rentals driven by semigration, according to Seeff.
Estates are in demand
Then there is the ever-growing popularity of estate living. According to Andrew Amoils, head of research at New World Wealth, South Africa is one of the global pioneers in residential estate living, second only to the USA in the number of estate developments.
Developers in the luxury estate market remain at the forefront of a sector that is ever-evolving. These new kinds of estates expect to see the integration of advanced AI-powered concierge services, virtual assistants, and personalised lifestyle management platforms that cater to residents’ individual preferences and needs. This is the opinion of David Burger and Stephan Thomas, a secure estate specialist team for Lew Geffen Sotheby’s International Realty in Cape Town’s southern suburbs.
In recent years, lifestyle residential estates have emerged as sought-after havens for homebuyers worldwide. These exclusive developments offer a unique blend of luxury living, community engagement, and often a wide array of onsite amenities. These developments are also generally renowned for their meticulous attention to detail in terms of infrastructure and design.
A luxury home in Fresnaye, Cape Town
A case in point
One such development in Cape Town is Stonehurst Mountain Estate in Tokai. “Several South African estates are already on the path to the future,” say Burger and Thomas, adding that they are finding that such estates are being prioritised by foreign buyers.
“Lifestyle residential estates have long been synonymous with luxury living, exclusivity and exceptional amenities and as the world evolves, so do the trends shaping these prestigious communities,” says Burger.
“What it takes, is dynamic estate management and trustees who embrace all the technology that is becoming available. With a growing focus on technology, sustainability, wellness, convenience, and personalised experiences, these developments are poised to redefine luxury living.”
The demand for convenience and personalised services has driven the emergence of on-demand facilities. From concierge services and private chefs to dog walking and housekeeping, residents can access a range of services to simplify their lives.
Sustainable living
As environmental awareness grows, so does the emphasis on sustainability within lifestyle residential estates. Buyers are increasingly drawn to developments that prioritise eco‑friendly practices, such as energy-efficient homes, renewable energy sources, water conservation measures, and green spaces that promote biodiversity.
“As we look to the future, we can anticipate further integration of advanced technologies, heightened emphasis on sustainability, and a greater emphasis on fostering community collaboration.”
The V&A Marina in the V&A Waterfront in Cape Town
