The five top suburbs in the country now boast an average house price upwards of R20 million, all located in Cape Town which makes up nine of the top 10 suburbs by price value for this year, according to the Seeff Property Group.
Only Sandhurst in Sandton/Johannesburg features in the top 10, now ranked seventh – down from fourth last year – with an unchanged average price of R16.5 million over two years.
Priced over R100 million
A record 146 properties have sold for over R20 million, generating over R5 billion in value for this year so far – exceeding the total for the whole 2024-year in volume and value.
Fifteen of these sold for over R50 million with four priced over R100 million (two each in Clifton and Constantia).
Record prices already achieved include R65 million for an apartment (Bantry Bay) and R104.5 million for a house (Constantia Upper).
Seeff chairman, Samuel Seeff, says where the wealthy are buying and investing is a clear signal of confidence, and indicates where the market strength lies.
Cape Town stands in direct contrast to the country’s economic and wealth heartland, the Gauteng metros, Johannesburg/Sandton in particular.
Stagnated
Prices in Johannesburg/Sandton have largely stagnated with only a few sales over R20 million, and high-end suburbs such as Dunkeld, Westcliff, Hyde Park, Illovo, Inanda, and Bryanston now averaging around R5 million to R10 million.
In contrast, Cape Town’s high-net-worth suburbs have surged further in value.
The top five suburbs include Clifton (R25m), Bantry Bay (R23m), Llandudno (R21.5m), Constantia Upper (R21.4m) and Bishopscourt (R20.9m).
The top 10 list includes six Atlantic Seaboard suburbs plus Higgovale in the City Bowl, and Constantia Upper and Bishopscourt in the Southern Suburbs.
Notably, a further 27 Cape Town suburbs boast an average price which falls into the R5 million to R10 million range.
SA’s Top 10 suburbs by average selling price in 2025
High volumes
The Southern Suburbs has experienced two tremendous years with high volumes of R20 million-plus sales in Constantia and Bishopscourt as well as a few high value sales in Claremont Upper, Newlands and Rondebosch.
Francois Venter, lead agent for Seeff Constantia, says prices are up by 16% in Constantia Upper, and 10% in Bishopscourt, well above inflation, representing real growth for property owners.
Meanwhile, stock levels have dropped by a massive 45%, providing an incentive for sellers who want to capitalise on the market.
He also notes that there is an increasing number of off-market sales as sellers do not always want to formally list their properties, but are open to offers.
Do you live in any of the 10 aforementioned suburbs in South Africa?
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