High-net-worth (HNW) buyers see the Cape Town property market as extremely attractive.
With the city’s strong record of good governance, there is far less concern regarding currency stability, civil unrest, and service delivery, and many are happy to spend over R25 million.
Lifestyle and climate are some of the biggest drivers in the sector, making it no surprise that locals and foreigners consider the country an ideal location for a holiday, retreat, or medical treatment.
According to Arnold Maritz, Co-Principal of Lew Geffen Sotheby’s International Realty, there has been a notable increase in interest in lifestyle properties.
This includes luxury holiday homes, small game or wine farms, and exclusive estates, which are often used for upmarket enterprises such as boutique hotels, spas and sanctuaries.
He added that Cape Town is becoming a popular destination for digital nomads who earn foreign currency while enjoying the city’s lifestyle, particularly during the summer months.
“Within the past year, our office has brokered numerous sales to HNWI foreign buyers who purchased homes in excess of R20 million, and we’re inundated with enquiries from upcountry buyers looking for residential and business premises, including lifestyle properties in areas like Constantiaberg.”
Constantiaberg has long been an aspirational residential and tourism area for locals and foreigners as it offers a tranquil country lifestyle and modern convenience.
“The area offers something of interest to everyone, from award-winning wine estates and restaurants, spas and wellness centres to an array of experiences such as picnics, festivals, golf courses and greenbelts that have hiking, horse riding and mountain biking trails. ”
Famous beaches – including Boulders Beach, which is home to the African Penguin – are also a short drive away.
The area is also popular with local and international enthusiasts of The Cape Town Cycle Tour, The ABSA Cape Epic Cycle Tour and The Two Ocean’s Marathon.
