One South African suburb where houses sell for over R100 million

South Africans are flocking to coastal towns, with Clifton standing out as a premium destination. House prices in Clifton average over R40 million, with some exceeding R100 million.

This is feedback from Seeff Property Group, which said that coastal property remains in high demand for holiday homes and Airbnb investments.

Recent Lightstone data confirmed that coastal towns have mostly outpaced the metros in transactions over the last year. Buyers have also spent about 25% more on coastal property than the metros.

With over 48 Blue Flag beaches and marinas, a great climate, and access to good amenities, Samuel Seeff, chairman of the Seeff Property Group, said holiday towns tend to attract buyers from all over.

International buyers also find excellent value in prices compared to overseas holiday destinations.

Locations like Plettenberg Bay, where Seeff recorded a R78 million sale this year, along with Hermanus, Gansbaai, Langebaan, and St Helena in the Cape, have been top performers.

Eastern Cape hotspots and KwaZulu-Natal areas such as Margate, Salt Rock, and Umhlanga have also shown strong performance.

According to Seeff, the migration of wealth to the coastal areas is part of a broader trend.

New World Wealth data showed that hot spots which attract wealthier buyers include Clifton, Camps Bay, False Bay, Hermanus, Langebaan, Garden Route towns like Plettenberg Bay, and Umhlanga and Ballito on the KZN coast.

Ross Levin, licensee for Seeff Atlantic Seaboard, explained that Clifton and Camps Bay have seen some of the highest prices paid this year, mostly over R20 million per transaction.

“The location, lifestyle and Blue Flag beaches attract buyers from across the globe. Prices are at a premium, though. Expect to pay upwards of R10 million, with houses upwards of R20 million.”

The table below gives the transaction values for houses sold in different areas over the last five years.

Clifton reigns supreme

While the entire Camps Bay area is sought after as the second most expensive suburb this year on the Atlantic Seaboard in Cape Town, Clifton, in particular, stands out.

Clifton is an affluent and highly desirable suburb of Cape Town, known for some of the most expensive real estate in South Africa.

The suburb offers stunning views of the Atlantic Ocean, with many homes and apartments boasting unobstructed vistas and beautiful sunsets.

Its exceptional location, nestled between the mountains and the sea, also contributes to its appeal, featuring some of the most exclusive properties in the country.

The average price for Clifton properties has skyrocketed in the last decade. The average selling price for a house in Clifton has soared to R43.9 million in 2024.

The limited number of properties in the area further adds to the exclusivity, with only about 20 houses and 5 apartments sold annually in this small suburb.

Propstats data showed that close to R2 billion in sales were concluded in Clifton over the last five years.

About 89% of the property in this area is owned by people aged 50 or older. This group also makes up the majority of property sales at 82%, with 36-49-year-olds making up 18.2% of the buyers in the area.

Even smaller properties go for a premium in Clifton, with 0-bedroom properties listing for an average of R4.85 million and 1-bedroom properties listing for R10.2 million, according to Property 24’s statistics.

For larger properties, that price quickly increases. The average property with 5 or more bedrooms lists for over R60 million, but there are a number of properties currently available for over R100 million.

For example, Seeff currently has a 940 m², 5-bedroom house on offer in Clifton for R160 million that borders both the sea and mountain.

Below is a look into that luxury property.