Africa-Press – South-Africa. Luxury apartments in Cape Town, particularly along the Atlantic Seaboard and the V&A Waterfront, are setting records, with some properties selling for over R40 million.
Cape Town’s luxury waterfront apartments are setting new benchmarks, as high demand has driven a significant volume of high-value sales over the last two years.
The market is buoyant with many units selling as soon as they are listed, and waiting lists of buyers and investors, said Seeff Atlantic Seaboard and City Bowl licensee Ross Levin.
The demand is driven not just by local Cape buyers. Seeff is also seeing buyers from Gauteng and KwaZulu-Natal, as well as international buyers investing more in property here.
Sectional titles, predominantly apartments, make up about 76% of the units sold across these two areas since the start of last year, generating R6.1 billion in 2025, and already stand at R1.5 billion in 2026.
The average selling prices are slightly up, and units are selling much faster in 2026, achieving better prices, Levin said.
Over half (55%) of the Atlantic Seaboard sales were concluded within a month, and in the City Bowl, about 71% sold within a month, many within a day.
Sellers are achieving, on average, about 5.5% below the asking prices. However, almost two-thirds (63%) of Atlantic Seaboard sellers and 76% of City Bowl sellers are achieving prices at or close to the full asking price.
Notably, about one-third of the value has come from just 49 high-value sales over R20 million. The majority of these were purchased by buyers from Cape Town, Gauteng and KZN.
Just under one-third (28.57%) of these sales were made to international buyers, mostly from the United Kingdom, Germany, the United States, Switzerland, Canada, and Poland.
Scarcity, an uptick in tourism, and the desire for Cape Town’s lifestyle are fuelling demand, with the city now regarded as the premier coastal destination in South Africa.
It offers spectacular beaches and oceanfront living with top restaurants, luxury retail, postcard views, tidal pools, and walking and cycling areas.
Buyers are flocking to these waterfront suburbs
The Waterfront, in particular, has seen record sales of R781 million in 2025 and is already at R314 million in 2026. Seeff’s Finella Botes and Kim Bendall concluded 12 of the 15 high-value sales.
These sales ranged from R27 million (Elstree) to R35 million (Penrith), R35 million (Palgrave), R35.7 million (Bannockburn), R42.5 million (Dovenby), and R46 million (Juliette).
The Waterfront Marina is one of the most popular developments, offering privacy, green spaces, and amenities such as swimming pools, gym access, and apartments located on the canals and the Front Yacht Basin.
There are currently a handful of luxury Waterfront Marina listings on the market, with some priced as high as R55 million.
Demand for Granger Bay and Mouille Point has also surged, where the Seeff team concluded sales of up to R25 million in Two Oceans Beach and R23.5 million in Thermopylae, both oceanfront locations.
Bantry Bay is another high-demand area where Seeff’s Adrian Mauerberger and Bryan Ginsburg have concluded high-value sales.
They sold a property in Bantry Rocks for R31.5 million, a property in Bantry Place for R31.5 million, and The Aurum Presidential Suites for R65 million.
Another presidential suite is currently on the market for R87.5 million. It occupies a full floor with ocean views throughout, three en-suite bedrooms, and a main room that hangs over the ocean.
The unit features bespoke design and furnishings with top security, a concierge, and generator/battery backup power.
Sea Point is another area that offers luxury apartments, such as a 556 m2 bespoke duplex penthouse for R125 million with five en-suite bedrooms, a glass-fronted design for 360-degree views, and a retractable roof.
The upper level is dedicated to entertainment with a private pool, jacuzzi and sauna. It also comes with a power backup system.
In Clifton, Seeff’s Jo Lombard concluded notable high-value sales in Clifton View for R24.5 million and R24 million. He also sold a property in Clifton Terraces for R39.5 million.
Seeff also concluded two high-value sales at The Rubik in the CBD, totalling R26.7 million and R22 million, respectively.
While just under half of all sales in the CBD were under R2 million, about a dozen sold for over R5 million, mostly in new developments like The Rubik.
Although 75% of City Bowl sectional titles sold for below R3 million, Levin said there has been a notable uptick in high-value sales over R10 million.
He added that this market segment has delivered outstanding capital growth and returns for investors, offering a strong investment proposition for local and international buyers and investors.
R55 million three-bedroom apartment in Waterfront
R87.5 million three-bedroom apartment in Bantry Bay
R125 million five-bedroom apartment in Sea Point
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