One South African neighbourhood has an average house price of R44 million

Clifton is the most expensive suburb in South Africa. In 2024, the average selling price in the neighbourhood soared to R43.9 million.

This is more than double the average for Camps Bay, the second most expensive suburb this year on the Atlantic Seaboard in Cape Town.

Clifton is an affluent and sought-after suburb of Cape Town, home to some of the most expensive real estate in South Africa.

Its main value is its fantastic views of the Atlantic Ocean. Most houses and apartments have unrestricted views with beautiful sunsets.

It also benefits from a spectacular location between mountains and sea and has some of the most exclusive homes in the country.

However, it is not only the views which make Clifton a popular suburb among the world’s super-wealthy.

The cable and satellite television network Discovery Travel Channel rated Clifton as one of the top ten beaches.

The area has a set of 4 beaches, which are frequently used destinations for locals and tourists.

Although the water is cold, many people visit the beaches for sports like surfing and bodyboarding.

Clifton is known for its small property sizes. This is because it was laid out by the City of Cape Town for soldiers returning from the first world war.

Bungalows were built from packing cases used to import motor cars during the twenties and thirties.

Most of the original bungalows have been replaced by modern houses. However, the narrow flights of stairs to the houses and beaches remain.

Despite their small sizes, houses and apartments in Clifton fetch very high prices because of the location and prestige attached to the neighbourhood.

There is also very little additional land available to build on, which creates an exclusive market with limited supply.

The short supply is clearly illustrated in a current listing by Engel & Völkers, selling a 1,124-square-meter plot in Clifton for R175 million.

The Seeff Property Group said only about 20 houses and 5 apartments sell on average each year in Clifton.

Propstats data shows that almost R2 billion in sales were concluded in the small suburb in the last five years.

Nettleton Road, perched high up against Lion’s Head, is the most expensive street in South Africa.

The street offers privacy and unparalleled views over the seaboard, and houses on this street have sold for over R100 million.

Current prices range from R69 million to R160 million but could reach R200 million once the economy and market start moving again.

At least three high-end sales over R20 million this year were to Gauteng buyers, and two were to buyers from KwaZulu-Natal.

Every house sold in Clifton this year has been above R20 million. The highest recorded price was for a villa on Kloof Road, which sold for R66 million.

Further down in the suburb, people find a choice of bungalows where you can walk straight onto the beach.

Recorded sales on Propstats show that prices of up to R28 million and R59.95 million were paid this year for these bungalows.

On the cliffside of Victoria Road, there are apartment blocks such as Eventide, San Michele and The Beaches.

Over the last year, apartments in Eventide were sold for up to R50 million and up to R37 million in San Michele.

The highest prices paid ranged from almost R187,000 per square metre. A 16-square-meter parking bay sold for R2.5 million.