Situated in Bantry Bay and scooped up by a German couple‚ broke the record for the most expensive house sold in Cape Town by approximately R190-million‚ said Dogon Property Group’s Adrien Epstein. There had almost been a “ceiling” on prices when it came to properties in the city‚ and there had been no trade over the R100-million mark‚ Epstein said.
Congratulations are in order to Dogon Group for the successful sale of Africa’s most expensive private home, achieving an eye watering price of R290 million (£15m). However, perhaps the real praise should go to SAOTA Architecture and Design, the incredible group continually delivering some of the most exceptional properties around the globe. In fact, they have garnered a lot of praise for this property after winning the coveted Architizer A+ award.
We heard the Porsche and Aston were thrown in for free!
Bought by a German entrepreneur for £14.5 million, the record purchase will be used as a holiday home for him and his family, his estate agent said.
The purchases do come with a level of uncertainty, however, with the ruling African National Congress (ANC) and opposition parties regularly raising the possibility of a future ban on foreign ownership of land in South Africa. The influx of overseas buyers as a factor in locals being priced out of the property market in the country’s most popular areas.
Meanwhile, less than five miles from the rarefied luxury of Bantry Bay, lies Imizamo Yethu, a squalid township of tin shacks and low cost government blocks of tiny homes balancing precariously on the lower slopes of a mountain in Hout Bay.
The shanty town is home to around 30,000 poor black South Africans who share portable toilets, water stand pipes and interrupted electricity supplies. The majority survive hand to mouth, without jobs.
Although apartheid ended 22 years ago, the quality of life for many of South Africa’s black majority shows little sign of improvement.
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