A “grand villa” in Bantry Bay, Cape Town, is on the market for R57 million.
According to Dogon Group Properties, Bantry Bay’s luxury lifestyle and sea views along its stretch of coastline make it the “Monte Carlo of Africa.”
“Built to take advantage of Bantry Bay’s idyllic micro-climate and long summer afternoons, this sunny villa boasts an exceptional terrace and swimming pool overlooking the ocean,” said Dogon Group Properties.
“Extraordinary outdoor space, both open to the sky and undercover, perfect for an al-fresco meal, a glamorous party or a sunset wedding.”
The house is a classic double-storey, with formal and informal living rooms downstairs. The kitchen and four bedrooms upstairs lead onto ocean-facing terraces.
“This grand villa would benefit from renovating the bathrooms and kitchen, an opportunity to personalise,” said Dogon.
The property also has ample staff and security accommodation, as well as off-street parking for seven cars.
Dogon said that Cape Town’s real estate sector saw an exhilarating first half of 2024.
Alexa Horne, MD of Dogon Group Properties, said that the luxury market has shown robust performance, especially for properties priced over R20 million.
“Cape Town’s allure for overseas investors, driven by favourable exchange rates and the city’s value-for-money lifestyle, continues to bolster the market,” said Horne.
“This surge in interest has seen sales exceeding R40 million, underscoring the confidence of ultra-wealthy buyers in Cape Town’s vibrant market.”
Semigration trends have played a crucial role, with the Western Cape seeing its inbound migration rates double from pre-2020 figures.
Employment opportunities and the region’s high standard of living are significant draws, said Horne.
Semigration property purchases intended as the main residence account for the majority of purchases, but investment and rental property interests are also on the rise.
“Adding to this momentum, the City of Cape Town secured a R3.5 billion financing boost for infrastructure investment, promising to further enhance the city’s appeal and support real estate growth,” said Horne.
Horne added that the recent elections have brought a mix of caution and subsequent optimism.
While the mid-tier market experienced a slight slowdown, the post-election period has seen a rejuvenation in activity.
She added the high-end market remained largely unaffected, seeing a steady pace of sales.
“This renewed enthusiasm is mirrored in DG Properties’ developments, where younger homeowners, first-time buyers, and international investors are actively participating, signalling a robust and dynamic property market moving forward,” said Horne.
Ooba’s data showed that homebuyers between 18 and 31 are making growing investments, with a greater percentage of younger buyers leveraging property as a wealth-building strategy.
The statistics also show that the recurring buy-to-let trend in the Western Cape continued in Q2 2024. The Western Cape was a key driver behind the national surge in investment demand, accounting for 32.4% of all applications.
“Cape Town’s Southern Suburbs, particularly Bishopscourt and Upper Constantia, are standout performers,” said Horne.
“The Atlantic Seaboard (where Bantry Bay is found) remains a magnet for luxury buyers.
Images of the R57 million house in South Africa’s ‘Monte Carlo can be found below:
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