Property

The South African luxury suburb where average house prices tripled to R30 million in five years

Kirsten Minnaar • 3 June 2026

House prices in Cape Town’s luxury Southern Suburbs have more than doubled – and in some cases nearly tripled – to as much as R30 million over the past five years.

Average selling prices for Cape Town’s luxury suburbs, such as Constantia Upper and Bishopscourt, have surged to R26 million and R30 million, respectively.

According to Seeff’s lead agent for these areas, Francois Venter, these spikes come despite a broad market slowdown.

These price spikes are particularly evident across “The Uppers” areas of the Southern Suburbs, which include Constantia Upper, Bishopscourt, Newlands, Claremont Upper, and Kenilworth Upper.

Prices in these suburbs are up significantly. Sales data for the first quarter of 2026 shows that Bishopscourt properties are selling for an average of R30 million.

This is almost three times the area’s average selling price from five years ago, which was around R11 million.

Constantia Upper is selling at an average price of R26 million, more than double compared to the R12 million average in 2020.

The average for Kenilworth Upper stands at R18 million. This is also nearly three times the R5.6 million average in 2020.

Newlands is on R14 million, while Claremont Upper is on R11 million. This is basically double the R6 million average for these suburbs in 2020, Venter said.

This is despite 17% fewer buyers than in 2025 and sales data pointing to a broad market slowdown in these areas.

Venter said while economic factors are driving the wider slowdown, property listings have halved year-on-year, with low stock levels resulting in the higher prices paid.

Propstats data shows that 44 units were sold in the first quarter of 2026, compared to 74 in the same period in 2025.

However, the combined value is R860.19 million, only slightly lower than 2025’s R866.8 million, driven by higher prices.

This has also resulted in the overall average selling price for these suburbs standing at R19 million, notably higher than 2025’s R11.7 million, reflecting higher averages in the respective suburbs.

Properties are also still selling faster. While Seeff’s sales are concluded within just 32 days, the market average is 41 days, and selling prices are just 2% below the asking prices.

Luxury properties shine despite market slowdown

According to Venter, these high average property prices put “The Uppers” among the top luxury suburbs in the country.

While the overall economic growth and interest rate outlook have weakened due to the ongoing Middle East War and recent interest rate hike, he said the outlook for these suburbs remains strong.

Currency shifts, global mobility, and international sentiment continue to influence pricing and demand in the luxury suburbs, he added.

Both local and international buyers, including semigration buyers, continue to pay a premium for a high-quality lifestyle, access to top schools, amenities, and well-managed infrastructure and services.

This has translated into a rewarding market for sellers and investors while driving strong demand and confidence.

With a limited supply of stock, the area offers strong value retention, which appeals to long-term investors as buyers prioritise privacy, space, and lifestyle.

Venter noted that Bishopscourt, in particular, is a low-supply, high-demand market that offers long-term value.

With 40% market share, Venter said Seeff’s experience shows that while luxury home sales take time, a focus on qualified niche buyers is more effective than open-market exposure, converting more exclusive mandates into sales.

Kenilworth Upper remains resilient and family-focused, with strong momentum supporting faster sales through accurate pricing and negotiation.

In Newlands, buyers act decisively when suitable homes appear, drawn by schools, location and lifestyle, helping sellers achieve prices close to asking.

Claremont Upper appeals to families, professionals and rental investors, with buyer overlap creating additional advantages for sellers in this market.

Generally, luxury areas such as these, located in “The Uppers”, tend to defy economic headwinds and interest rate fluctuations.

The convergence of local and international demand on these prestigious pockets keeps the outlook resilient, reinforcing these suburbs as the premier choice for those seeking enduring value in the Cape Town property market.