Millionaires Row – Why You Should Invest in Luxury Property in Clifton
The weakening economy and housing sales, notwithstanding, Cape Town’s blue chip Atlantic Seaboard is enjoying some of the highest property sales in the Southern Hemisphere right now. For many affluent buyers, real estate has become a unique asset, focusing on prime luxury properties in the most elite parts of the Western Cape, such as Clifton in the Atlantic Sea Board.
There are many ultra-high-net-worth individuals (UHNWI) that view Clifton as the most prestigious address in Cape Town. This year alone, about R1bn worth of R20m-plus luxury Atlantic seaboard properties were sold, mostly in suburbs such as Clifton, Camps Bay, Bantry Bay and Fresnaye. In August 2015, a trophy luxury villa in Clifton was sold to a Johannesburg buyer for a record R111m. The previous highest price for such a luxury home in Clifton was R60m in 2010. There are a number of factors driving the sales of luxury property in Clifton to unprecedented levels – below we take a look at only a few of them.
The Most Glamorous Luxury Homes in the World
Whether you are looking for a residential home or a holiday home, property in Clifton is varied to accommodate any discerning taste. As Cape Town’s most affluent platinum real estate stretch, Clifton is an exclusive residential area and is home to some of the most expensive real estate in the Southern Hemisphere. Offering buyers and investors everything from large expansive mansions and villas to luxuriously designed modern apartments and beach bungalows that boast sweeping views over the Atlantic Ocean – Clifton trophy homes offer it all! Accentuating exquisite exterior and interior architectural accents, these luxury properties are right up there with the best in the world.
Home to the Most Beautiful Beaches in the World
Extravagant properties in Clifton are among the most sought-after in the world because of their views, beaches and cliffs. Home to Millionaire’s Row, Clifton has not only earned the title as Cape Town’s St Tropez, but it was also ranked 2nd best in the world on National Geographic's “New Best Beach Cities list in 2015”. As the most popular beach destination in Africa, attracting holidaymakers and scantily clad locals in their droves, Clifton not only boasts outstanding real estate, but it also offers a collection of four beautiful secluded beaches with white sand that stretches for kilometres. Complemented by yachts floating on a turquoise ocean, stellar sunset-viewing and outstanding beach weather for at least 7 months of the year – Clifton is simply a playground for celebrities, models, surfers, volleyball players, families, tourists and lifeguards.
High Rental and High Resale Opportunities
Considered as one of the most stable residential markets in the Southern Hemisphere, because of its prime central location and vibrant cosmopolitan lifestyle – Clifton is ideal for retirees, families and foreign property investors. Offering an excellent ROI for both price-to-rent ratio and price-to-income ratio, it is arguably an extremely attractive offshore investment.
It is an asset/investment that you can expect to appreciate and yield an excellent ROI, not only does real estate in Clifton offer huge resale opportunities with lucrative ROIs, but it also offers high rental opportunities that guarantee a solid income stream. In fact, that very expensive five-bedroom Villa that whichsold in August 2015 for a record R111 million is now available to rent over the Summer holidays, for R150 000 a day. Unlike a financial investment that will park for years, when investing in luxury property in Clifton, you have a valuable, tangible asset/investment that just keeps on growing.
Clifton is simply an exclusive address of immense value that every affluent property owner wants to include in their real estate portfolio. To learn more about how you can include Clifton real estate in your property portfolio, contact Fine & Country SA.