- South Africa’s penthouses have become a global attraction for wealthy individuals seeking luxury properties that blend cultural richness and modern features.
- With prices ranging from $4.2m to $13.2m, international buyers are willing to pay for premium views, exclusivity, location, status and privacy.
- Cape Town’s Atlantic Seaboard and Robben Island are among the most desirable locations for penthouses among high net-worth individuals (HNWIs).
Luxury penthouses in South Africa are attracting wealthy international buyers due to their luxury interiors, direct lift access, valet and concierge service, as well as conveniences such as spas and private gyms.
The luxury real estate market in South Africa has seen a surge in demand in recent years, with penthouse prices ranging between $4.2m and $13.2m.
According to recent data from the Seef Atlantic Seaboard, the most desirable locations are Cape Town’s Atlantic Seaboard and Robben Island. The data suggests that international HNWIs are demanding luxury penthouses that overlook the Indian Ocean in Umhlanga and the skyline of Sandton.
The Cape Town real estate market has also seen a significant increase in demand for penthouses, with prices ranging from $3.3m to $13m depending on the location.
Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl, indicated that owning a penthouse is a symbol of status, luxury and convenience in South Africa.
Similarly, Finella Botes, a Seeff Waterfront agent, suggested that the most luxurious penthouses at Waterfront Marina are fetching top prices in the range of $2.9m to $3.5m.
HNWIs looking to secure a high-end penthouse on South Africa’s coastline should use a secure money transfer service when making international payments.
Clifton is also emerging as a top location for those seeking the ultimate in luxury living. Clifton properties overlooking Moses Beach, such as Eventide, are selling for upwards of $6.3m, with particular interest coming from high net-worth families due to the excellent transport links to schools.
Bantry Bay, Fresnaye and Sea Point are also becoming increasingly popular locations, with properties such as Aurum, The Bantry and The President (Bantry Bay), The Fresnaye (Fresnaye) and St Johns Estate (Sea Point) commanding prices upwards of $1.5m.
The Da Vinci and Michelangelo penthouses are the most exclusive in Sandton this year, according to the data, with some apartments selling for $4m.
Charles Vining, the managing director of Seeff Sandton, noted that the growing demand for penthouses in the area is largely due to the government’s focus on high-quality English-speaking schools and extracurricular activities.
HNWIs interested in purchasing luxury penthouses should use safe international money transfer options when making payments overseas.
Wealthy individuals hoping to secure a high-end penthouse on South Africa’s coastline can compare foreign exchange rates using our online money transfer comparison tool.
