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Will City Bowl, Atlantic Seaboard top R7bn in sales?

camps-bay-r18m-2Atlantic Seaboard and City Bowl agency sales, according to the latest Propstats data, top R6,28bn.

This is according to Billy Rautenbach, sales director for Seeff’s Atlantic Seaboard, V&A Waterfront and City Bowl areas, who predicts a busy holiday season, with a spike in buyer interest already evident.

“In addition to more local house hunters, the November to April period also brings foreign buyers as well as those from the inland provinces – especially the greater Johannesburg and Pretoria areas looking to either migrate to the city or invest in a second home here,” she said. “This year’s sales for the City Bowl and CBD already amount to around R1,6bn and an average selling price of R4m.

“The lowest-priced sale has been R1,1m for a small flat, while the highest a R22m luxury home in Higgovale. Almost half of all activity falls below the R6m price band.”


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Most properties in these areas sell within 44 days of listing and at an average price discount of 5.7%. This amounts to a price compromise of R228,000 for home sales averaging R4m.

On the Atlantic Seaboard, R4,38bn in sales has already been concluded, with the sub-R15m price band accounting for about 80% of all transactions, said Rautenbach.

“In the sub-R10m price band, properties are selling within just over a month on the market and at a price discount of 5% on average, compared to an overall market average of 7%,” she said.

On the market for R18m, this villa is situated in sought-after Camps Bay, and comes with an additional studio apartment, a feature swimming pool and glass-walled bar area

On the market for R18m, this villa is situated in sought-after Camps Bay, and comes with an additional studio apartment, a feature swimming pool and glass-walled bar area

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