The apartment has stunning views and comes with three bedroom suites, a designer Italian kitchen and bespoke finishes throughout. Photo: Supplied Photo: SuppliedThe unit achieved a selling rate of R77,586/sqm and is one of only two apartments which have sold above R20 million. Photo: SuppliedDURBAN - The price ceiling for a Cape Town City Bowl apartment has just lifted to a record price of R22.5 million for a luxury penthouse in Higgovale sold by Madelein Armstrong, an agent with Seeff.
The unit achieved a selling rate of R77,586/sqm and is one of only two apartments which have sold above R20 million, both of which sold this year, and the other being an apartment in 15 on Orange. Armstrong said that sectional title property in the City Bowl is experiencing a surge in demand as people look for more of the convenience offered by a lock-up-and-go lifestyle. All over the world, busy executives, celebrities and high profile entrepreneurs tend to favour apartments including penthouses for the exclusivity, security and convenience, she says.
Ross Levin, Director for Seeff Atlantic Seaboard and City Bowl says that despite the challenging market conditions, there is always a level of interest in exclusive properties. He says further that the City Bowl is seeing a rise in luxury buyers who are drawn to the mountain, greenery, ease of living and better value that can be found here compared to the high prices of the neighbouring Atlantic Seaboard.