Property

The South African suburb where a property sold for R48 million without the buyer even seeing it

Kirsten Minnaar • 23 June 2026

A R48 million home in Constantia, one of Cape Town’s most prestigious suburbs, recently sold “sight unseen” to an overseas buyer amid rising competition for high-end properties across the city.

Despite the usual winter slowdown, Cape Town’s high-end property market is still going strong, said Pam Golding Property CEO Dr Andrew Golding.

Across the Atlantic Seaboard, City Bowl, and Southern Suburbs, luxury homes are attracting sustained demand and outperforming seasonal expectations.

“What began as a post-pandemic shift in buyer behaviour has evolved into a prolonged high-demand trend,” Golding said.

This movement is characterised by severe stock shortages, strong local and international interest, and increasingly competitive bidding for prime, high-end properties.

“In many instances, well-located homes are being sold within days of listing, with multiple offers and, in some instances, transactions concluded above asking price,” he said.

While there are several areas across the city which have a robust luxury real estate market, Bishopscourt stands out as one of the city’s top suburbs.

This fact was recently made clear when Pam Golding sold a Constantia home for its full R48 million asking price to an international buyer who purchased the property “sight unseen”, meaning without having viewed it in person.

“The Cape Town residential market is now effectively operating at capacity all year-round, with little evidence of a meaningful seasonal slowdown,” Golding said.

“Instead, transaction volumes are increasingly dictated by stock availability rather than by fluctuations in demand.”

Pam Golding Properties’ Western Cape regional head, Basil Moraitis, explained that Constantia appeals to a very specific group of buyers.

The Atlantic Seaboard, which includes areas such as Fresnaye, Bantry Bay, Clifton, and the V&A Waterfront, tends to attract buyers seeking a more cosmopolitan environment.

These suburbs offer an increasingly popular “15-minute city” lifestyle, where people can live, work, and play within a single hub.

However, Moraitis said the leafy, upmarket Constantia area in the Southern Suburbs tends to attract family buyers with children attending top-end schools.

The area is also popular with buyers seeking the peace and solitude of a beautiful mountain setting close to world-class wine farms.

Constantia draws local and international buyers

This substantial four-bedroom home on approximately 1,700 m² in Constantia Upper recently sold for R32 million

Constantia continues to attract a broad mix of local and international buyers, supported by favourable exchange rates, strong lifestyle appeal, and Cape Town’s growing global profile as a premium destination.

The suburb’s attractions lie in its combination of space, privacy, vineyard surroundings, and proximity to leading schools and the city.

Many international buyers already have prior connections to South Africa, while others are drawn by lifestyle considerations and relative value compared with other global luxury markets.

International buyers are typically drawn to properties with space, privacy, mature gardens, proximity to vineyards, and lifestyle convenience rather than density or estate living alone.

As such, properties that successfully combine privacy, generous erf size, and security features generally achieve the strongest demand and premium pricing.

Pam Golding Properties Western Cape area managers, Sam Nel and Shelly Keys, reported that at current levels, R20 million has effectively become the entry point for a quality family home in Constantia.

Demand spans both South African and international purchasers. European buyers remain particularly active, alongside growing interest from the United States.

“A notable feature of recent activity is the increasing prevalence of cash buyers and transactions concluded ‘sight unseen’, particularly in tightly contested segments of the market,” Keys said.

“There is also a clear shift in buyer profile, with younger purchasers in the late 30s to early 40s entering the market.

“These buyers are showing a strong preference for renovated character homes that combine traditional Cape architecture with modern interiors and open-plan living.”