A property situated in Nettleton Road, Clifton, Cape Town - the most expensive residential street in South Africa - has been sold to a local buyer for R120 million.
The deal was concluded by the same Dogon Group team that achieved the record-breaking sale of a Bantry Bay home for R290 million in 2016.
Denise Dogon, CEO of Dogon Group Properties, explains that this six bedroom, seven-level residence was designed by award winning architect Stefan Antoni of SAOTA, and features, among many other things, a private cinema, a wine cellar, office, gymnasium, massage room and steam room, a library, a floating bar, staff accommodation and an infinity pool which gives the illusion of flowing into the sea.
“The villa stands on nearly 1 000sqm on the slopes of Lion’s Head, enjoying uninterrupted views of Clifton’s famous beaches and the Twelve Apostles mountains. Its location, nestled in the unparalleled beauty of the Atlantic Seaboard, coupled with the design, fixtures and finishes makes this a rare home of a standard that is not easy to come by,” says Dogon.
Dogon goes on to explain that during the winter months, the Dogon Group’s sales statistics have proven to be far more buoyant than expected, with sales averaging between R100 million and R200 million per month overall. “All areas, namely the 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.”
These factors are also driving the rental market in Cape Town, and Dogon Group Properties can attest to this with the recent signing of 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,” says Dogon.
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