Sandton suburbs and its immediate surrounds have generated an estimated R8bn in residential sales in the last 18 months, and a fair amount of these sales have either been cash deals and/or in the R5m-plus price range. This is according to Charles Vining, Seeff’s MD in Sandton, who said about 10 sales per year are made in the R20m-plus price range in Sandton and his office is seeing more activity in this segment of the market than it did in the prior 18 months.
“To date, the highest price our branch has achieved in 2016 has been R26m for a mansion in Sandhurst,” said Vining. “The highest asking prices are generally in the mid-R20m ranges. These homes are located in the most desirable suburbs like Sandhurst and Hyde Park, but occasionally homes here can also be as high as R60m to R80m.”
Seeff Sandton currently has three properties priced in the R60m to R75m price range, and six homes priced in the R32m to R40m bracket. They are located in areas such as Sandhurst, Hyde Park, Morningside and Bryanston.
Photo: This R60m Southfork home features five bedrooms and five bathrooms on a 5,700m² erf.