It's no secret that the price of property in Cape Town is enough to bring tears to one's eyes, especially when you're young and trying to make it on to the property market. But it's still interesting for us commoners to know where the most expensive suburbs in Cape Town are and what the average value of a luxury property is.
New data released by Lightstone, an analytics company, has revealed where South Africa’s most valuable suburbs are located – and it is no surprise that several are in Cape Town. Of these properties, 83% are residential properties, and 17% are non-residential properties.A total of 6.7-million residential properties were tracked, equating to a value of R5.4-trillion. Freehold properties contribute 67% to this figure, with estates contributing 18.3%. Sectional titles contribute approximately 14.2%.
The most expensive suburbs in Cape Town: Sea Point, Rondebosch and Fresnaye
The most expensive suburbs in Johannesburg: Bryanston, Morningside and Midstream.
Listen to Kfm Mornings react to the Cape Town property prices
The average value of a property in Llandudno is R19.3 million, R17.3 million in De Bosch and R15.1 million in Constantia.
A property in Beauvais Road in Bel Ombre will cost you an average of R43.7 million, R27.5 million in Ravine Road, Bantry Bay and R27.2 million in Logies Road, Llandudno.
Kfm Mornings listeners, of course, had a lot to say about these property stats