This 145sqm one bedroom apartment in Victoria Road, Clifton, offers the perfect beach location. It is on the market for R13.9 million - click here to view.Latest New World Wealth research for the third quarter of 2017 shows that Cape Town still dominates when it comes to where wealthy people are prepared to pay the most for residential property.
The South Africa Wealth Report lists the most expensive streets, suburbs and towns in SA, as well as the fastest growing suburbs around the country.
There are two ways to best determine the exclusivity of a suburb. These are by using the price per square metre, which is internationally considered to be the best way, or by looking at the number of R20 million homes in an area, which indicates how many wealthy people are living in a suburb, says Andrew Amoils from New World Wealth.
Amoils says the first method has limitations, especially when it comes to valuing houses. "This is due to the garden element i.e. how do you value the garden? The truth is price per square metre stats only work really well on apartments and some areas don’t have many apartments which makes this tricky."
This 356sqm three bedroom, four bathroom penthouse apartment in Sandton Central offers exclusive and secure living with spectacular views. It is selling for R11.999 million - click here to view.When looking at how many homes there are worth over R20 million in a suburb, he says the measure can be deceiving as areas with mostly large houses, such as Sandhurst, Plettenberg Bay and Bishopscourt, tend to outperform areas that have mainly apartments, such as Umhlanga, as very few apartments are large enough to cost over R20 million.
Also, some suburbs like Contantia in Cape Town are much larger than others, for example Llandudno, which unfairly favours them, says Amoils.
The stats below are based on the average price per square metre of a prime apartment (200-400m2) in each area:
Top 10 most expensive streets
Cape Town occupies all 10 positions with most streets in Clifton or Bantry Bay apart from Dock Road in Cape Town Waterfront’s V&A Marina which ranked in second position.
| Most Expensive Streets | Price per square metre |
| 1. The Ridge & Cliff Road, Clifton, Cape Town | R96 000/m2 |
| 2. V&A Marina, Dock Road, City Bowl, Cape Town | R90 000/m2 |
| 3. Victoria Road, Clifton and Bantry Bay, Cape Town | R88 000/m2 |
| 4. Nettleton Road, Clifton, Cape Town | R86 000/m2 |
| 5. Clifton Road, Clifton, Cape Town | R84 000/m2 |
| 6. Kloof Road, Clifton and Bantry Bay, Cape Town | R83 000/m2 |
| 7. Ave St Leon, Bantry Bay, Cape Town | R78 000/m2 |
| 8. De Wet Road, Bantry Bay, Cape Town | R76 000/m2 |
| 9. Ave Marina, Bantry Bay, Cape Town | R76 000/m2 |
| 10. Ocean View Drive, Bantry Bay, Cape Town | R75 000/m2 |
Most expensive streets outside of Cape Town
This 137sqm two bedroom apartment in Umhlanga Rocks has uninterrupted sea views and is priced at R9.8 million - click here to view.There is a significant price difference for properties in the two most expensive streets located outside of Cape Town, with Beachyhead Road in Plettenberg Bay property averaging R42 000/m2 and an apartment in Lagoon Drive in Umhlanga Rocks costing in the region of R35 000/m2.
Most expensive suburbs in SA
Prime apartments in Clifton, Cape Town, average R80 000/m2 while in Sandton Central in Gauteng you’ll pay around R36 000/m2.
| Most Expensive Suburbs | Price per square metre |
| 1. Clifton | R80 000/m2 |
| 2. Bantry Bay | R75 000/m2 |
| 3. Fresnaye | R60 000/m2 |
| 4. Camps Bay & Bakoven | R56 000/m2 |
| 5. Llandudno | R54 000/m2 |
| 6. Green Point, Granger Bay & Mouille Point | R47 000/m2 |
| 7. City Bowl (City Bowl includes Higgovale, Oranjezicht, Tamboerskloof and V&A Marina) | R45 000/m2 |
| 8. Central Sandton | R36 000/m2 |
SA’s fastest rising suburbs
The fastest growing suburbs in SA in terms of square metre price growth over the past year were Sea Point, Illovo, Parkhurst, Noordhoek, Franschhoek, Natures Valley and Zinkwazi.
However, Amoils says it should be noted that all these suburbs start from a relatively low price base when compared to the likes of Bantry Bay and Clifton.
| Fastest Rising Suburbs | Price per square metre |
| 1. Sea Point | R30 000/m2 |
| 2. Illovo | R17 000/m2 |
| 3. Parkhurst | R12 000/m2 |
| 4. Noordhoek | R11 000/m2 |
| 5. Franschhoek | R10 000/m2 |
| 6. Natures Valley | R8 000/m2 |
| 7. Zinkwazi | R8 000/m2 |
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