Cape Town's Luxury Real Estate Market Witnesses Solid Growth

First quarter of 2025 witnesses $50 million in sales

Sales of luxury trophy homes priced over R20m in Cape Town surged to a record high in Q1 2025 boosting the real estate sector of the South African city. These sales have been predominantly in the high-end suburbs of the Atlantic Seaboard and Southern Suburbs, according to the Seeff Property Group. Propstats data shows a record 53 high value sales worth over R1.6bn in the first three months of this year. Half of this value comes from just 25 sales in the Atlantic Seaboard suburbs, the latest being a luxury 383m² apartment in The Aurum in Bantry Bay, sold for R65m by Seeff to a local buyer, says Ross Levin, licensee for Seeff Atlantic Seaboard.

Seeff concluded nine high value sales in the first quarter, and Levin says wealthy are currently seeing Cape Town property as a good store of wealth. Properties are selling much faster with sole mandate properties averaging just five weeks on the market. Even older properties which have been on the market for a while are now selling.

Record Sales

• Cape Town witnesses 53 luxury home sales over R20m in Q1 2025, totaling over R1.6 billion
• Majority of buyers are South African, with strong interest from Gauteng, KZN, UK, and Germany.
• Eight of Cape Town’s top 10 luxury suburbs now have an average price above R20m

Adrian Mauerberger and Bryan Ginsberg who sold the R65m apartment, say the majority of buyers are locals, but there is still a big semigration market. For sellers still contemplating, there is no better time than now due to a shortage of stock across all sectors and price ranges, say the agents. The iconic location and lifestyle is drawing buyers from all over. We’re seeing an influx of locals, as well as buyers from Gauteng, KZN, the UK and Germany especially who are investing here right now, mostly cash buyers.

Further sales include three homes in Camps Bay sold for R45m (local buyer), R21m (German buyer), and R33.75m (UK buyer, shared sale). Additionally, sales of R20m and R23m in Fresnaye (both local buyers), and at the Waterfront of R29.5m (local buyer), R33m (KZN buyer), and R29m (German buyer).

As a result of the high value sales at least eight of Cape Town’s top 10 suburbs for wealthy buyers currently boast a luxury house price of over R20m, the remaining two being over R15m. Seeff also made six high-value sales in the Southern Suburbs, mostly Bishopscourt and Constantia Upper. Francois Venter, lead agent for Seeff in the area says here too, agents are seeing a mix of new and old listings selling, with his team scooping six recent high-value sales. These include a vacant plot in Bishopscourt sold for R20.25m (local buyer), along with homes sold in Constantia for R42m (Polish buyer), R24.7m (German buyer), and three sales to local buyers at R36m, R31m and R20.5m respectively.

"We’re seeing tremendous confidence in the property market right now," says Venter. "Cape Town is also the only city in the country that frequently ranks in top global city indices for tourism and property-value growth. With its scenic location between mountain and sea—every bit as beautiful as the French Riviera or Monaco—and its cosmopolitan lifestyle and top-quality real estate, the Atlantic Seaboard is the jewel of South Africa’s property market," says Levin.

Venter says that Constantia and Bishopscourt likewise offer the allure of a picturesque setting with the mountain, lush greenery, and access to the nearby historic wine estates. Properties offer privacy, expansive gardens, and luxurious amenities such as tennis courts and swimming pools, and easy access to leading schools, combining country charm with urban accessibility.

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