Amid global uncertainty, South Africa’s luxury, high-end residential property market is experiencing elevated interest among both international and local high net worth buyers - most notably in sought-after locations around the country, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
“Overseas buyers in these areas are still predominantly from traditional European markets, but now further prompted by geo-political issues which appear to have boosted sentiment in respect of the top-end residential property market in the Cape, coupled with the value offering when compared to global high-end markets.
In the Cape’s Boland region, sought after among affluent home buyers and especially popular among UK purchasers as a permanent residential destination, recent sales transactions concluded by Pam Golding Properties include homes in prestigious Val de Vie Estate near Paarl sold for in excess of R25 million, and also upwards of R30 million.
“In Gauteng, we are seeing positive signs regarding confidence in the market in general, and currently dealing with high net worth buyers in all our top-end luxury areas regarding freestanding homes, including those in estates. Achieving high-end prices largely relies on the location and prestige of the specific address, and those that offer status, top-notch security, a luxurious lifestyle and in many instances, high-end amenities, do not face challenges in terms of demand.