Clifton villa sold for R120m

Category Property News

A house in Cape Town's Atlantic Seaboard suburb of Clifton has been sold for R120m. Situated in Nettleton Road, one of the most expensive streets in South Africa, this seven-leveled residence was sold by Dogon Group Properties, the same team (Denise Dogon, Adrien Epstein and Vicky Atlas) responsible for the record breaking sale of a Bantry bay home for R290 Million in 2016.

According to Denise Dogon, CEO of Dogon Group, the house has seven levels and six bedrooms. It was designed by award-winning architect Stefan Antoni. Features include a private cinema, a wine cellar, an office, a gymnasium, a massage room, a steam room, a library, a floating bar, staff accommodation and an infinity pool. According to Dogon, Cape Town's Atlantic Seaboard, southern suburbs and the V&A Waterfront have experienced an increase in sales compared to the same winter months last year. "Cape Town is experiencing local demand, and the influx of people from other provinces is bolstering the market," she added.

These factors are also driving the rental market in Cape Town, in her view. Dogon Group Properties recently concluded a lease contract for an estate in Constantia for R450 000 per month and for a house in Bantry Bay for R220 000 per month. "I am optimistic that the Cape Town property market will remain buoyant throughout 2018 despite the economic and political instability. Cape Town will continue to grow as a result of continued large scale migration to the city from other metros," said Dogon.

Fin24 recently reported that Cape Town tops the list of top prime property hotspots in Africa, according to a quarterly report by New World Wealth for the third quarter of 2017. The Atlantic Seaboard suburbs of Clifton and Bantry Bay are mentioned in the report. Research by New World Wealth also found that The Ridge and Cliff Road in Clifton top the list of most expensive streets in South Africa - at R96 000/m², followed by the V&A Marina development (R90 000/m²) in Dock Road in the central city of Cape Town.

Next up are the Clifton streets of Victoria Road (R88 000/m²), Nettleton Road (R86 000/m²), Clifton Road (R84 000/m²) and Kloof Road (R83 000/m²).The 7th to 10th places went to the Bantry Bay streets of Ave St Leon (R78 000/m²), De Wet Road (R76 000/m²), Ave Marina (R76 000/m²) and Ocean View Drive (R75 000/m²). Click Here to view properties for sale in Clifton.

Author: Fin24

Submitted 14 Dec 17 / Views 910