Temperature-controlled wine cellars, private elevators, cinemas, glass-walled garages and automated ‘pods’ for easy vehicle access ... these are just some of the must-haves in the country’s ultra-high end housing market.
No fewer than 546 homes with price tags of more than R10m were sold in Cape Town in the 12 months to end-February. That’s more than three times the 160 sales of R10m-plus recorded in Joburg over the same period, latest deeds office figures show.
In addition, 120 homes changed hands for more than R20m in the Mother City in the past year. Compare that with only nine in Joburg, and it’s clear just how pronounced Cape Town’s lead as South Africa’s prime real estate destination has become...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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