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Cape Town Southern Suburbs Experience Major House Price Growth over the Last Decade

Published September 21, 2023
9 months ago

Suburbs in the southern region of Cape Town, such as Claremont, Kenilworth, Newlands, and Rondebosch, have experienced a significant surge in house prices over the past decade. According to data, an average house price in Claremont rose from R1.9 million to R3.58 million, marking an increase of 88.4 percent.

The southern suburbs of Cape Town, known for leafy streets, excellent schools, stunning views, and convenient proximity to the city centre, have emerged as a resilient real estate market in South Africa, states Claude McKirby, co-principal for Lew Geffen Sotheby’s International Realty in the region.

Despite global uncertainties such as the Covid-19 pandemic, political issues, and economic instabilities, these areas have maintained their appeal to both local and international buyers. The Propstats data reveals that the highest selling prices during the first half of 2022 in the southern suburbs were at an impressive R56 million and R70 million for Constantiaberg, showcasing the strong demand for high-end properties in this region.

The high demand and low stock levels have been attributed to the area's excellent amenities and limited land availability for development, especially in suburbs like Constantia, where strict regulations limit expansion. The suburbs offer a balanced and appealing lifestyle, attracting families, professionals, and retirees into the community.

Seeff Property Group points out that the condition of the neighbourhood or estate significantly influences its demand and value. Well-maintained areas command higher prices and considerably attract more buyers.

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