New World Wealth has just released their ratings of the top 10 luxury apartment complexes in South Africa for 2018.
“In particular, we expect luxury apartments in Seapoint in Cape Town to perform especially well going forward. We also expect strong growth in luxury apartments in Umhlanga and Ballito over the next few years,” says Weinrich.
Recent trends include a rise in demand for apartments that are linked to shopping centres, as this allows residents to walk to the shops without having to walk across dangerous roads, says Andrew Amoils, head of research at New World Wealth.
Another trend identified is that a large number of residential lifestyle and golf estates have started to add luxury apartments to their offerings. Previously, most residential estates had focused only on houses, says Amoils.
New World Wealth’s top 10 luxury apartment complexes for 2018 are listed below, in no particular order:
Apartment prices range from R30 million to R40 million.
Melrose Arch in Sandton is a unique mixed-use residential area with apartments, offices and shops. It offers residents easy and safe access to local shops, bars and restaurants.
Apartment prices range from R2 million to R30 million.
The Embassy Towers is a new luxury apartment block that overlooks the US Embassy in Sandton. The 12-storey complex consists of 93 exclusive apartments.
Apartment prices range from R7 million to R30 million.
Located in Killarney, Johannesburg, Whitehall Court has a timeless design with impressive internal gardens, sculptured pillars and high ceilings.
Apartment prices range from R3 million to R12 million.
The Houghton is located in Houghton, Johannesburg. It doubles as a residential estate, with access to the Houghton Golf Course. There is also an upcoming hotel residence component to the development, which is particularly appealing to wealthy buyers. It offers several types of units, including one bedroom studios, mid-sized garden apartments and large sky-rise penthouses.
Apartment prices range from R4 million to R100 million.
San Michele is a beautifully designed complex located in Clifton, Cape Town. It overlooks the iconic Clifton Beach, which is one of the top-rated beaches in the world and a hangout for the world’s jet set. Residents have easy access to the beach.
Apartment prices range from R3 million to R30 million.
Franklins Row is located on Melville Road in Illovo, Johannesburg. Like Whitehall Court, it has a timeless design with similar look to apartments in Belgravia (the most exclusive part of London in the UK).
Prices range from R3 million to R10 million.
De Meermin overlooks Lookout Beach and the Lagoon in Plettenberg Bay. It is the only Garden Route apartment complex in our top 10.
Apartment prices range from R3 million to R10 million.
V&A Marina Apartments
The V&A Marina Apartments are located on Dock Road next to the One & Only Hotel in Cape Town’s Waterfront district. Residents have easy access to the Waterfront shopping centre, which they can walk to. It is arguably the most expensive address in SA, with apartments fetching around R90 000 per square metre. Many of the owners have their own yachts which they park in the marina.
Note: an upcoming development in Bantry Bay called Aurum is expected to overtake the V&A to become the most expensive address in SA once it is complete. Prices are expected to fetch well over R100 000 per square metre.
The Pearls is located in Umhlanga in KwaZulu-Natal, overlooking the main beach. It offers several types of units, ranging from beachfront garden apartments to sky-rise penthouses.
Prices range from R3 million to R30 million.
Other top contenders:
– Aurum (new) in Bantry Bay, Cape Town
– Blue Waters in Blouberg, Cape Town
– Cape Royale in Greenpoint, Cape Town
– Clifton Terraces (new) in Clifton, Cape Town
– Da Vinci in Sandton, Johannesburg
– Eventide in Clifton, Cape Town
– Glengariff Sea Point (new) in Sea Point, Cape Town
– Harbour Arch (new) in City Bowl, Cape Town
– La Corniche in Clifton, Cape Town
– Michaelangelo in Sandton, Johannesburg
– Mount Green, Umdloti in KwaZulu-Natal
– New Court at Alphen, Constantia, Cape Town
– Oceans Hotel Residential Apartments (new), Umhlanga, KwaZulu-Natal
– ONE97 Hyde Park (new) in Sandton, Johannesburg
– Raphael Suites in Sandton, Johannesburg
– Sandton Emperor in Sandton, Johannesburg
– Santorini in Shakas Rock, Ballito, KwaZulu-Natal
– Silo Apartments (new) in Waterfront, Cape Town
– Taj Residences in City Bowl, Cape Town
– The Bermudas in Umhlanga, KwaZulu-Natal
– The Onyx (new) in City Bowl, Cape Town
– The Regency in Menlyn, Pretoria
– The Water Club in Granger Bay, Cape Town
– The Yacht Club (new) in Waterfront, Cape Town
– Umhlanga Arch (new) in Umhlanga, KwaZulu-Natal
Spotlight on hotel residences
Globally, over the past few years there has been a move away from traditional luxury apartments towards hotel residences, says Amoils. ‘Hotel residences’ refer to apartments in existing hotels that can be purchased. They essentially allow owners to live in a hotel permanently and enjoy the same services as normal guests do (i.e. room service, dining, cleaning etc.).
He says hotel residences are often difficult to identify such as ‘One Hyde Park’ in London – “the apartments there are essentially hotel residences serviced by the Mandarin Oriental next door”.
Hotel residences sell at a premium to normal luxury apartments, says Amoils, and notable worldwide examples include: the Mandarin Oriental Residences (One Hyde Park) in London, Plaza Pied-a-terre in New York, the St Regis Residences in New York, the Four Seasons Private Residences in Seychelles, Ten Trinity Square in London, the Baccarat Residences in New York and the Palazzo Tornabuon in Florence.
The hotel residence model is starting to take off in South Africa, he adds, and local examples include: the Houghton in Johannesburg, the Cape Royale in Cape Town, the Da Vinci in Sandton, the Michelangelo in Sandton, the Taj Residences in Cape Town, the Raphael Suites in Sandton and the upcoming Oceans Hotel Residential Apartments in Umhlanga.