A five-bedroom apartment in Clifton, Cape Town, has been sold for a record-breaking R145 million, establishing a new pinnacle for apartment prices in South Africa.
Nestled along the pristine shoreline of Clifton’s iconic 1st Beach, this exceptional property showcases the utmost in quality finishes and breathtaking ocean views, reflecting the exclusivity synonymous with the Atlantic Seaboard.
The identity of the seller remains undisclosed, but the deal was brokered by Lance Cohen of Lance Real Estate.
According to a TikTok update from popular local account @coolstorybru_, the buyer is a former South African currently residing in Monaco.
Cohen’s confirmation of the sale highlights not just the individual transaction but also an ongoing trend of skyrocketing prices in Cape Town’s luxury property market.
This sale surpasses the previous record of R120 million for an apartment in the country, a noteworthy shift that signals the enduring appeal of the Mother City to high-net-worth individuals.
The apartment boasts five generously sized en-suite bedrooms, each designed to ensure privacy and luxury for the residents and their guests alike.
High-quality finishes can be found throughout the property, showcasing meticulous attention to detail that exemplifies luxury craftsmanship.
The layout of the apartment is typically spacious, likely spanning over 300 square metres, with an open-plan design that effectively melds indoor and outdoor living, perfect for enjoying those exquisite ocean views.
Beyond the bedrooms, one can expect expansive living and dining areas, a state-of-the-art kitchen outfitted with bespoke fittings, and outdoor terraces that provide the ultimate vantage point for enjoying the mesmerising panorama of the Atlantic Ocean.
The emphasis on security and privacy is also paramount, aligning perfectly with the requirements of discerning luxury buyers.
According to The Citizen, CEO of the Cape Chamber of Commerce and Industry, John Lawson, attributes this remarkable trend to Cape Town’s overall functionality and value proposition.
He remarked that the gaping disparity mirrors a similar trend in municipal infrastructure development and service delivery, with property investors favouring Cape Town.
Compiled by: Sibulisa Duba
First published on Cape Town etc
Also see: Cape Town’s CBD to gain 418 affordable apartments next year
