Property

Cape Town’s top areas are so popular that houses sell for over R100 million

Kirsten Minnaar • 14 September 2026

The Atlantic Seaboard in Cape Town remains South Africa’s priciest area, with properties worth over R100 million.

This was revealed by Codera Analytics’ Aleksandar Mitrovic and Riaan Grobler, who summarised the distribution of property prices by suburb in the Western Cape.

Their analysis showed a big disparity between the province’s cheapest and most expensive areas. The Atlantic Seaboard was the priciest area, with several properties being listed for over R100 million.

The region comprises 11 coastal suburbs and neighbourhoods stretching from the V&A Waterfront down to Hout Bay.

In several other towns – such as Hout Bay, Rooi Els, and Melkbosstrand – the average asking price for properties was also above R10 million.

Pam Golding’s Western Cape regional head, Basil Moraitis, told Daily Investor that they have experienced a significant increase in demand for Atlantic Seaboard properties.

However, the supply remains insufficient. This has resulted in unprecedented residential development and densification, especially the conversion of single-family homes into luxury two- and three-dwelling units.

Limited housing supply has also resulted in an increase in the average selling price, Moraitis explained.

“For Pam Golding Properties’ offices on the Atlantic Seaboard, the average selling price in 2018 was R5.2 million, while it is currently around R12.3 million for the year to date.”

Luxury homes, he said, are currently selling for between R30 million and R40 million, and well in excess of R150 million.

Property buyers in the area are a diverse group of high-net-worth individuals, Moraitis said. Most are South Africans, along with returning expats, buyers from elsewhere in Africa, and international buyers.

Data released by Lightstone earlier in 2026 showed that the Atlantic Seaboard had one of the country’s highest concentrations of foreign buyers.

Over the past decade, two out of every three properties sold in Llandudno have gone to foreign buyers at an average price of R29.2 million.

Other Atlantic Seaboard suburbs – Bakoven and Camps Bay – followed a similar pattern, with 50% foreign-buyer participation and average values of around R16 million to R17 million.

Cape Town’s cheapest towns

Even though the Western Cape is known for its high property prices, the Codera analysis also showed that there are still several areas where homes are marketed for under R1 million.

Khayelitsha was the cheapest town, with other affordable areas being the Cape Flats, Touws River and Blue Downs.

Pam Golding Franchise Services national sales and operations manager Daphne Timm told Daily Investor that while there is always demand for homes priced under R1 million, the issue is stock availability.

“However, residential property priced below R1 million still exists in the Western Cape, although in the Cape Town metro, this is increasingly sectional title rather than freehold,” she said.

“That said, the entry-level segment is one of the most active parts of the market, and demand consistently exceeds supply. The constraint is stock, not appetite.”

Under R1 million in the Cape Town Metro, Timm said buyers are looking at sectional title – one- and two-bedroom apartments and older townhouses – rather than freehold homes.

Buyers can find older apartment blocks and townhouse complexes in Goodwood, Vasco, Ruyterwacht, Bellville, Belhar, Kraaifontein, Brackenfell fringe, Eerste River, Athlone and surrounds, Parklands, Delft and Mitchells Plain.

While buyers can still find freehold homes for under R1 million, Timm said most are located in outlying towns.

Malmesbury and Moorreesburg in the Swartland are attracting younger buyers and families. The same is true in the Boland and Overberg, including Caledon and Bredasdorp, as well as the Karoo towns of Beaufort West and Laingsburg.

Riversdale, Heidelberg and Oudtshoorn in the inland Garden Route are also seeing growing interest from younger buyers and families.