Latest news with #RossLevin
The South African
7 days ago
- Business
- The South African
The SA city that foreigners spent over R1 billion buying property in
International property buyers have already poured over R1 billion into Cape Town's real estate market so far in 2025, proving that the city is more attractive than ever to foreigners wishing to invest. According to BusinessTech and Seeff Property Group, sales to international buyers hit R600 million in February and R700 million in April this year, bringing the year-to-date figure to well over R1 billion. Data also showed that overall property sales in Cape Town reached nearly R2.5 billion in the first five months of 2025 – the highest level seen in the past five years. And it seems foreigners are interested in purchasing property in particular areas in the city. Ross Levin, licensee for Seeff Atlantic Seaboard, noted that foreign buying has been especially strong in the Atlantic Seaboard and City Bowl, which together accounted for around 67% of all international transactions. In April alone, overseas buyers spent R530 million on properties in the Atlantic Seaboard. 'We've seen sales across just about all suburbs, with Camps Bay and Bantry Bay commanding the highest values, and Sea Point and the CBD leading in transaction volumes,' Levin said. Data also indicated that foreigners from over 40 countries have invested in Cape Town this year. These included buyers from Germany, the UK, Netherlands, Switzerland, and other European nations. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The Citizen
11-06-2025
- Business
- The Citizen
Record sales to international buyers in Cape Town hotspots this year
Correlating strongly with City of Cape Town reports of a record-breaking summer tourism season, international property buyers have invested in record numbers in the City's hotspots, according to the Seeff Property Group. Propstats data shows that sales worth almost R2.462b were concluded in the first five months of this year, the highest in the last five years. The total value for the whole of 2024 was R3.4b, and it was similar in the prior year, 2023. Sales to international buyers reached a record R600m in February, and R700 in April across the whole city. More than two thirds (67%) of the total value were generated by sales across the Atlantic Seaboard and City Bowl. Ross Levin, licensee for Seeff Atlantic Seaboard, says sales activity has been up quite notably this year. For the Atlantic Seaboard alone, sales to international buyers amount to about R530m for April. Overall, there were sales in just about all of the suburbs. The highest values recorded are in Camps Bay and Bantry Bay, and the highest volumes in Sea Point (27) and the CBD (32). Buyers from more than 40 countries invested in property across the Cape this year. The highest volume is attributable to buyers from Germany, followed by the UK, Netherlands, Switzerland, and other European countries. There has also been a notable uptick in sales to American buyers who bought predominantly in Sea Point, Bantry Bay, Mouille Point and in the City Bowl. Buyers from other African countries have also made a welcome return. These include some 12 countries, being Angola, Cameroon, Congo, eSwatini, Gabon, Ghana, Mauritius, Mozambique, Namibia, Nigeria, Tanzania, and Zambia with Nigeria the stand-out in terms of the volume of sales. Levin says the whole market across the Atlantic Seaboard and City Bowl has been very active and there is a shortage of stock, thus presenting good opportunities for sellers right now. Notable recent Seeff sales to foreign buyers include two sales to German buyers at R21m in Camps Bay and R29m at the Waterfront as well as a R29.5m sale at the Waterfront to a buyer from eSwatini. Other areas where international buyers have been active include Constantia and Bishopscourt in the Southern Suburbs, False Bay areas such as Muizenberg and Fish Hoek, Southern Peninsula suburbs such as Kommetjie and Scarborough, Hout Bay, and Blouberg where Marlene Picksley, an agent with Seeff Blouberg concluded a record sale of R16.5m in Sunset Beach to a buyer from the USA. Hout Bay has seen particularly strong demand from international buyers with as much as 37 sales to buyers from a number of different countries, especially Germany, Netherlands, UK, Denmark, and other European buyers, and the USA. According to Stephan Cross, manager for Seeff Hout Bay and Llandudno the buyers spent between R5m to R25m. He says the Hout Bay market has been particularly hot this year with high sales activity and a shortage of stock, thus good opportunities for sellers, he adds. Propstats shows that total sales across the whole Hout Bay market already tops R600 million for this year following a record R1.3b last year, notably higher than for 2023, and similar to the 2022 Covid-boom sales levels. Levin says Cape Town is particularly attractive to international buyers, including those from the African continent for its Mediterranean climate, cosmopolitan lifestyle, and access to good amenities. International buyers are not only keen investors in property, but also tend to spend more on a per capita basis, and often invest even more in upgrades and their lifestyle, all of which amount to a notable injection of foreign income for the local economy. Issued by Gina Meintjes
Zawya
09-04-2025
- Business
- Zawya
South Africa: Cape Town's luxury homes market skyrockets with $50mln sales in Q1
Sales of luxury trophy homes priced over R20m surged to a record high for the first quarter of this year. These sales have been predominantly in the high-end suburbs of the Atlantic Seaboard and Southern Suburbs, according to the Seeff Property Group. Propstats data shows a record 53 high value sales worth over R1.6bn in the first three months of this year. Half of this value comes from just 25 sales in the Atlantic Seaboard suburbs, the latest being a luxury 383m² apartment in The Aurum in Bantry Bay, sold for R65m by Seeff to a local buyer, says Ross Levin, licensee for Seeff Atlantic Seaboard. Seeff concluded nine high value sales in the first quarter, and Levin says wealthy buyers are currently seeing Cape Town property as a good store of wealth. Properties are selling much faster with sole mandate properties averaging just five weeks on the market. Even older properties which have been on the market for a while are now selling. Adrian Mauerberger and Bryan Ginsberg who sold the R65m apartment, say the majority of buyers are locals, but there is still a big semigration market. For sellers still contemplating, there is no better time than now due to a shortage of stock across all sectors and price ranges, say the agents. The iconic location and lifestyle is drawing buyers from all over. We're seeing an influx of locals, as well as buyers from Gauteng, KZN, the UK and Germany especially who are investing here right now, mostly cash buyers. Further sales include three homes in Camps Bay sold for R45m (local buyer), R21m (German buyer), and R33.75m (UK buyer, shared sale). Additionally, sales of R20m and R23m in Fresnaye (both local buyers), and at the Waterfront of R29.5m (local buyer), R33m (KZN buyer), and R29m (German buyer). As a result of the high value sales at least eight of Cape Town's top 10 suburbs for wealthy buyers currently boast a luxury house price of over R20m, the remaining two being over R15m. Here's a look at how Cape Town's luxury suburbs stack up in terms of average selling price for Q1 2025, according to Propstats and Seeff – with a comparison to what those prices looked like back in 2020: Clifton – R42m vs R37m Bishopscourt – R24.65m vs R15.84m Camps Bay – R24.14m vs R13.18m Llandudno – R23m vs R20.06m Waterfront – R21.61m vs R11.2m Bantry Bay – R21.58m vs R20.45m Higgovale – R21.51m vs R22.51m (massive R85m sale) Constantia – R21.07m vs R12.565m Fresnaye – R17.4m vs R15.07m Oranjezicht – R16.56m vs R9.97m Seeff also made six high-value sales in the Southern Suburbs, mostly Bishopscourt and Constantia Upper. Francois Venter, lead agent for Seeff in the area says here too, agents are seeing a mix of new and old listings selling, with his team scooping six recent high-value sales. These include a vacant plot in Bishopscourt sold for R20.25m (local buyer), along with homes sold in Constantia for R42m (Polish buyer), R24.7m (German buyer), and three sales to local buyers at R36m, R31m and R20.5m respectively. "We're seeing tremendous confidence in the property market right now," says Venter. "Cape Town is also the only city in the country that frequently ranks in top global city indices for tourism and property-value growth. "With its scenic location between mountain and sea—every bit as beautiful as the French Riviera or Monaco—and its cosmopolitan lifestyle and top-quality real estate, the Atlantic Seaboard is the jewel of South Africa's property market," says Levin. Venter says that Constantia and Bishopscourt likewise offer the allure of a picturesque setting with the mountain, lush greenery, and access to the nearby historic wine estates. Properties offer privacy, expansive gardens, and luxurious amenities such as tennis courts and swimming pools, and easy access to leading schools, combining country charm with urban accessibility. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
