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Cape Town has always been the most prominent jewel in South Africa’s property chest. 9 out of 10 richest SA suburbs are in Cape Town, with the average price topping R15m. These were the findings of a study done by Seeff, based on data from Lightstone and Propstats for the period 2011/2 to 2016/7. The top 10 rank as Clifton (R23m), Llandudno (R17m), Bantry Bay (R16,9m), Sandhurst (R16,5m), Camps Bay (R16,2m), Fresnaye (R16m), Waterfront (R16m), Higgovale (R16m), Bishopscourt (R15,1m) and Constantia Upper (R11,6m).

In this evolving roller-coaster environment and economy, the last decade has seen coastal explosion moving slowly inwards to inner city regeneration, and then creeping back outwards to the city’s edge – Woodstock and Mowbray being the most recent trending spots for value-hungry investors and new home buyers.

One area that is stealthily making a play is the stretch from the city out to The West Coast with new developments springing forth from the Northern Suburbs and inching closer to the city, with Parklands and Century City already booming. Bettering many recent Woodstock and Mowbray developments on price, but offering a rare piece of ocean fronted real estate, The Edge Development at Lagoon Beach, has carved a niche for Northern Suburbians and West Coasters who need to get closer to the city and reduce traffic time while maintaining a more spacious lifestyle, or Woodstock or city dwellers who want a lower per square metre rate and more “legroom” and some sea air.

On the edge of the city (9kms), and edge of the sea, it offers investors or homeowners a double-edged proposition, but happens to drop in at a good value starting price at 1.35m. The brains trust behind it, Combined Developers, are leaders in the area, while sales agents Willbridge Property Company have just completed a 47-unit sell-out of Robert Silke’s new Tuynhuys development on Keerom Street.

“While growth may not be as rampant as previous years, the prices remain strong, and has also created the start of a new migration out of the city to the suburbs, seeking new nodes of excellent value,” explains Viv Delbridge, Sales Director at Willbridge. The Edge’s proposition pierces the conundrum for informed buyers as the city centre prices have continued to soar.

Ranking in the top 10 Knight Frank Prime Global Cities Index along with the top cities in the world for the best luxury house price growth, Cape Town ostensibly has it all – between mountain views and sea, Blue Flag beaches, shopping malls, trendy leisure and food precincts, and wine farms. Ironically, The Edge sits right in the middle of all the above. It’s a short walk (300m) to the beach for ocean lovers, young families, surfers, and kiteboarders, but at the same time, it lies close to the city and to Century City, connected by Marine Drive, The MyCiti BRT transport system, and bike lanes. As a live-work-play environment, office workers could even shop, and work, then walk next door to their home.

On the edge of the city (9kms), and edge of the sea, it offers investors or homeowners a double-edged proposition, but happens to drop in at a good value starting price at 1.35m.

Delbridge adds, “One of its finest features though is it has been designed with “UX” in mind. User experience is a term normally saved for technology, but we see it that these days, homeowners want a designer and developer to think about the entire journey from arriving home to parking, unpacking and stepping into the development, and up into their unit. The facilities not only need to be beautiful and stylish, but they need to be intelligent, and offer the things we need in this day and age from security to technology, storage for sporting goods, as well as being water-wise, eco-friendly and energy efficient. This intelligence is all seen as real value add at a pretty good price.”

Short-term and hospitality rental specialists, Home from Home, say it has the short-term letting appeal, but that’s a given if the location is just right. “The Cape Town rental market remains strong, especially in the more accessible price ranges in prime locations, and this stretch of coastline with its magnificent view, and MyCiti bus route, greatly appeals to foreign visitors,” Charles Bloom concludes.

With South Africa arguably being the most developed and sophisticated of our continent’s countries and Johannesburg seen as the business capital of our nation, with Sandton acknowledged as the richest square mile in Africa, it may be surprising to note that 9 out of 10 richest SA suburbs are in Cape Town, with the average price topping R15m. These were the findings of a study done by Seeff, based on data from Lightstone and Propstats for the period 2011/2 to 2016/7, explained Samuel Seeff, chairman of the Seeff Property Group, in July 2017.

Ranking in the top 10 Knight Frank Prime Global Cities Index along with the top cities in the world for the best luxury house price growth, Cape Town ostensibly has it all – between mountain and sea, Blue Flag beaches, trendy leisure and food precincts, and wine farms.

The top 10 rank as: Clifton (R23m), Llandudno (R17m), Bantry Bay (R16,9m), Sandhurst (R16,5m), Camps Bay (R16,2m), Fresnaye (R16m), Waterfront (R16m), Higgovale (R16m), Bishopscourt (R15,1m) and Constantia Upper (R11,6m).

The majority of the areas are along the Atlantic Seaboard and City Bowl, the best performing property market in the country with growth of 100% (double) over the last 5yrs years and 600% over 15yrs, still showing positive growth in hard currency terms – allowing for the fluctuating exchange rate of the Rand. The biggest gains have been in Fresnaye (+167%) and Camps Bay (+128%) over the five year period.

But despite the backdrop of junk status and overnight cabinet reshuffles with the slight of hand of David Blaine, South Africa refuses to take any depressing news lying down, a hallmark of resilience borne out during the boycott and apartheid era.

“Cape Town fights harder than the other provinces against corruption and service delivery, and perhaps this is the reason that there’s buoyancy in the property market,” explains Ian Slot, Managing Director of Seeff Atlantic Seaboard and City Bowl.

“The rental market, especially for residential/corporate rentals also remains strong, especially in the more accessible price ranges – this means that you should focus on investing the right type of property, area and price range if you want to ensure you are making a good rental investment. Land sizes are generally smaller in the Cape, as are the houses, especially when you look at the Atlantic Seaboard,” he adds.

But it’s no longer all about the sea and sand. A rapid turnaround over the last decade has seen the city centre transformed. Bree, Long, Loop and Kloof Streets are now recognised as hotspots, spilling over with restaurants, coffee shops, bars, boutiques and clubs, making a short walk, Uber, or use of the MyCiti transport network a more obvious choice than buying a car.

Just a few months ago, new development Tuynhuys on 54 Keerom Street, and designed by urban regeneration master architect Robert Silke, sold out 45 apartments in less than a few months off-plan, with construction set to commence in 2017 only.

Tuynhuys developer Brent Wiltshire from Willbridge Property Company explains, “Cape Town has boomed from the suburbs and seaboard and crept slowly inbound over the course of the last decade to the point that the city is now a central focus of the current property spike, fortunately intersecting with the generational trend to living closer to others, connecting with a vibrant energy and community, and releasing the need for unnecessary material burdens that are costly in both time and money.”

The CCID (Cape Town Central Improvement District), a private/public partnership that looks after the cleaning and security of the inner city, has been highly successful, turning the CBD into a trendy urban and downtown area similar to that of other world-renowned cities.

Even out of town areas in need of redevelopment are starting to see a facelift – with a house in the formerly struggling area of Woodstock making front page news by fetching R2.5m, with houses off Roodebloem Road now priced above R5m.

While price growth may not be as rampant as previous years, prices are holding firm at present, and a budding migration out of the city to the suburbs is unearthing new nodes of excellent value. Willbridge’s next development The Edge, set in Lagoon Beach – “edge of the city, edge of the sea” – will go on sale in February 2018 with studios starting at R1.3m. “As prices continue to boom in the city, there are a few hidden gems just outside the city – offering singles, couples and young families a little more space, the ocean, stylish design, and an easy commute to work at an accessible price point,” Wiltshire says.

Slot confirms, “There is high demand for sectional title property, investments, and those that offer the convenience of lock-up-and-go and low maintenance. And if you’re an investment buyer, the big trend now is “semigration”, a high demand for property in Cape Town from all over the country, but the key remains location, location, location. And an excellent agent, of course.”