Wealthy foreign buyers are steadily entrenching themselves along Cape Town’s Atlantic Seaboard and City Bowl, accounting for a quarter of all sales value in one of South Africa’s most expensive residential areas.
New data from the Seeff Property Group shows that international buyers accounted for around R2.8 billion in transactions over the past year, representing roughly 25% of the total R11.3 billion in sales concluded across the combined areas.
According to Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl, the past year has been marked by exceptionally strong demand, faster sales cycles and sellers achieving outstanding prices.
Total sales value for the Atlantic Seaboard and City Bowl surged by 26% year on year, climbing from R8.9 billion in 2024 to R11.3 billion.
A major driver of this growth has been the ultra-high-end segment. Properties priced above R20 million generated R4.2 billion in sales, a 61% increase on the R2.66 billion achieved the previous year.
In total, 116 transactions above R20 million were concluded across the two areas, including 16 sales above R50 million and two landmark deals exceeding R100 million.
Seeff alone concluded 30 of these high-value transactions, highlighting the intensity of activity at the top end of the market.
Camps Bay led the way in transaction volumes in the over-R20 million category with 29 sales, followed by Bantry Bay and Fresnaye with 17 each, and the V&A Waterfront with 10.
The highest prices were both achieved in Clifton, where two properties sold for more than R100 million.
The V&A Waterfront precinct also stood out for its consistent performance, recording an average transaction price of more than R18 million.
The area delivered a record 10 sales above R20 million, seven of which were sold by Seeff, including two shared sales.
Average prices per square metre reached R169,713 at The Aurum in Bantry Bay, R160,615 at Penrith in the Waterfront and R145,299 at The Breakers in Mouille Point.
Even Clifton recorded a sectional title high of R143,298 per square metre at Eventide.
Strong demand from International buyers
Levin noted that a significant portion of the market’s momentum can be attributed to the strong return of international buyers.
While Germans, British buyers and Northern Europeans remain prominent, demand is now coming from across the globe and from elsewhere on the African continent.
These buyers are drawn by the combination of coastal resort living, high architectural standards and construction quality that rival the world’s most desirable property destinations.
This international demand has allowed sellers to ask for premium prices and has fundamentally reshaped the buyer profile along the Seaboard.
The City Bowl has also delivered a standout performance, recording a record 16 sales above R20 million.
Top prices included R63 million in Higgovale, R46 million in Oranjezicht and R44 million in Tamboerskloof.
Sectional title properties dominate this market, accounting for about 75% of all transactions, with most activity concentrated in the Central City.
Heavy investment continues to flow into the precinct, supported by ongoing development and expansion projects at the Waterfront, further enhancing the area’s desirability.
Levin said that the Atlantic Seaboard now stands far above the rest of the country in terms of price performance, with only sporadic luxury sales in Sandton and Johannesburg’s northern suburbs reaching comparable levels.
Samuel Seeff, chairman of the Seeff Property Group, expects the broader housing market to end 2025 on a stronger footing and anticipates a more robust recovery in 2026.
He believes the market will remain a tale of two regions, with the Cape firmly a seller’s market driven by limited stock and high demand.
Gauteng and much of the rest of the country remain buyer-friendly until service delivery challenges are resolved.
