Property

Inside the R100 million home owned by the Ruperts and Markus Jooste

Kirsten Minnaar • 26 October 2025

A coastal estate in Hermanus valued at over R100 million, owned by prominent figures such as the Rupert family and Markus Jooste, is drawing notable attention from discerning buyers and investors.

Seeff licensee Paul Kruger explained that even though the the luxury estate is attracting attention, it is yet to find the right buyer.

“Calls and enquiries are coming in, and we expect the property to sell for over R100 million, as the estate offers an unmatched legacy investment,” Kruger said.

“There is no other property currently on the market which offers this precise combination of a unique, prime oceanfront location, and sheer land size in Voëlklip.”

Kruger explained that the Hermanus home offers uninterrupted, panoramic views of Walker Bay, and a front-row seat to whale-watching.

“A property of this size and location is virtually unheard of,” he said. The estate is a piece of coastal heritage with a massive 2,082 m² Cape Vernacular-style manor house.

It boasts seven bedrooms, nine bathrooms, and expansive reception rooms featuring generous proportions and bespoke, high-end finishes.

There is also an indoor swimming pool and private wine cellar, heritage cottage and a flat, along with ten garages and meticulously maintained gardens.

Kruger said the property represents a strong, non-replicable investment opportunity. It has a distinguished history, architectural mastery, vast footprint, and unparalleled location in one of South Africa’s fastest-growing wealth hubs.

The property, initially owned by the Rupert family as their holiday retreat, was subsequently purchased and developed into a R100 million-plus estate spanning over 7,000 m² on a double plot of land.

Notably, the property was also owned by Markus Jooste, who was the CEO of Steinhoff until the company’s R240 billion empire collapsed.

After auditors uncovered accounting irregularities in December 2017, Jooste immediately resigned, and a PwC investigation into the fraud was launched.

Hermanus draws wealthy buyers

According to Kruger, Hermanus has become one of South Africa’s wealthiest coastal towns and hottest holiday and retirement markets.

New World Wealth, for example, reported that over 1,100 millionaires own property in the Whale Coast area, with Hermanus as the main centre.

Tourism makes up over 50% of the region’s economy, and hundreds of thousands of visitors visit annually.

Notable families such as the Graaff, Hersov and Rupert families have owned property here, along with Afrikaans intellectuals and writers such as Jan Rabie, Uys Krige, and André P. Brink.

“It is a solid store of wealth for property investors,” Kruger said. The proximity to Cape Town and its location have made it one of the wealthiest coastal towns, predominantly a holiday and retirement town.

The market expanded notably over the last few years, with more high-net-worth buyers investing in the town.

“Higher value transactions over R5 million have more than doubled, and around 30 properties have sold for over R20 million, with rare properties such as this now reaching prices of over R100 million,” he said.

Property values have increased more than twofold over the last decade, thus offering strong capital appreciation potential.

The market has been fairly consistent, with total transactions in the year through September 2025 standing at R2.9 billion at an average transaction price of R3.3 million. This is 2.5 times higher than a decade ago.

While the quality lifestyle is attracting more younger families, most buyers are in the 35 to 65 age group and older.

Over 76% of all property stock is freehold. These are highly prized properties with some held for generations. “This strong investment case is well illustrated by this heritage property in Voëlklip,” Kruger said.

Hermanus is one of the most picturesque coastal towns. It is set between two lagoons, the ocean and the mountains, with properties hugging the coast around Walker Bay.

It is world-renowned for its whale-watching, ocean adventures, and several pristine beaches. According to Kruger, the location, size and infrastructure of the Voëlklip property are unmatched.

“Not even in Cape Town could you find a property of this stature with such good views and beach access,” he said.