Property

Cape Town achieves record property sales

Kirsten Minnaar • 9 August 2025

Cape Town’s Atlantic Seaboard saw record-breaking residential property sales in June 2025, driven by high demand, limited supply, and strong interest from local and international buyers.

This major uptick in demand goes against the trend of quieter sales activity in the residential property market during the cold and wet winter months. In fact, Pam Golding Properties reported a record June sales turnover of R240 million.

Pam Golding Property Group CEO Andrew Golding explained that this figure is more than double the previous June high.

The Atlantic Seaboard, which includes the City Bowl and areas from Foreshore to Camps Bay, is a highly sought-after coastline.

It attracts buyers from around the country and internationally, drawn by the natural scenic beauty, exceptional lifestyle and wide array of amenities in a world-class city.

“Cape Town is one of the few walkable cities in South Africa, boasting the Promenade on the Atlantic Seaboard and popular streets in the city, such as Bree Street, which enjoy high levels of pedestrian traffic,” Golding said.

Although the city is still in the throes of another very cold winter, during which Cape Town has seen heavy rains, the demand has remained steady.

“It seems to be more about the prime location and Cape Town being profiled as ‘the place to be’, which has fuelled demand from a variety of buyer categories,” he said.

Pam Golding Properties area manager Basil Moraitis said the sheer scale of demand for property in the area, coupled with an all-time low supply, has significantly heightened sales activity on the Atlantic Seaboard.

“The entire Atlantic Seaboard has benefited from the current market conditions, with the City Bowl area being an outperformer for the month,” Moraitis said. “Buyers have needed to act very quickly to avoid missing out.”

Many sought-after properties are not even being publicly listed but are marketed directly to the agent’s network of purchasers and investors.

“Now, more than ever, those agents with extensive area knowledge and homeowner contacts are extremely well-positioned to secure off-market listings and sales, due to the prevailing market conditions,” he said.

Luxury properties selling in Cape Town

This luxury, five-bedroom contemporary home in Camps Bay sold for R32 million to a Johannesburg buyer.

Moraitis explained that the buyer profile is very broad. Buyers are coming from all regions in South Africa, and many international buyers are coming from Northern Europe and sub-Saharan Africa.

Interestingly, South African expats represent one of the largest groups of buyers on the Atlantic Seaboard and in the City Bowl.

“Although buyers are acquiring properties for a variety of reasons, there appears to be an overriding and perhaps even overwhelming desire across the board to secure a foothold in this market,” Moraitis said.

Some are buying for investment purposes, given that Cape Town continues to outperform other major metro housing markets by a wide margin, with house price inflation rising 6.9% in June.

Buyers are also acquiring retirement and leisure properties. This includes pieds-à-terre for upcountry purchasers looking to secure a residence for children attending university. Others are international buyers seeking a retreat on the Atlantic Seaboard or in the City Bowl.

Standout sales by Pam Golding Properties in the City Bowl include a luxury penthouse, purchased by an expat for R30.8 million.

This four-bedroom, 367 m² property is located in The Quarry Estate in Higgovale and features sweeping city views.

However, Moraitis added that entry-level apartments in the city start from R1.65 million for a 30 m² studio. One-bedroom apartments start from a minimum of around R2.3 million, and two-bedroom apartments from approximately R2.6 million upwards.

In Mama Shelter Residences Cape Town, a redevelopment of the former City Park hospital building in Bree Street, 62 residents are selling through Pam Golding Properties.

Studios start at R2.9 million and range to R23.3 million for the ultimate three-bedroom Grand Mama Penthouse, which offers views of Table Mountain and the Atlantic Ocean.

Recent notable, mid-range sales through Pam Golding Properties on the Atlantic Seaboard include residences sold in Fresnaye for R34.5 million to a local buyer, and R32 million in Camps Bay to a Johannesburg purchaser.

According to PropStats, from January to the end of July, the V&A Waterfront, which includes the Silo District, has seen 26 sales with a total value of R491 million.

Moraitis explained that a significant number of properties in the area during H1 2025 sold at the full asking price.

Prices currently being achieved are just 7.6% off the asking price, which is a significant narrowing of the differential, usually approximately 10% to 15%.

In the Marina, a one-bedroom apartment sells for around R8.75 million, two-bedrooms achieve R13 million to R30 million, and three-bedrooms and penthouses sell for in excess of R40 million.

Listed below are two luxury properties on the Atlantic Seaboard being sold through Pam Golding.