Clifton apartment sells for new South African record price
The five-bedroom residence, situated on the shoreline of 1st Beach, features state-of-the-art finishes, sweeping ocean views, and expansive entertainment areas that reflect the highest standards of coastal living.
Industry experts say the property likely exceeds 300 square metres, with spacious en-suite bedrooms, modern open-plan design, private terraces, and bespoke fittings.
While the identity of the seller remains undisclosed, the buyer has been reported as a former South African now residing in Monaco.
This transaction surpasses the previous record of R120 million for an apartment in the country and highlights the growing demand for ultra-high-end properties in the Atlantic Seaboard area, particularly Clifton – often dubbed South Africa's 'Billionaire's Row'.
According to John Lawson, CEO of the Cape Chamber of Commerce and Industry, the record sale reflects a broader trend of property investors favouring Cape Town over other parts of South Africa due to its functional governance, reliable infrastructure, and high quality of life.
'There's a noticeable gap between Cape Town and other metros when it comes to service delivery. That difference is being reflected in the property market,' Lawson said.
In recent years, Cape Town has consistently outperformed other metros in terms of attracting both local and international buyers, especially in high-net-worth sectors.
Property in Clifton continues to command premium prices, driven by limited supply, world-class amenities, and spectacular coastal views.
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