In July, New World Wealth (NWW) published its rankings of the top 10 luxury apartment complexes in South Africa. Says real estate advisor Basil Weinrich, who helps to compile the ratings: “The market for luxury apartments has consistently outperformed the general SA housing market over the past few years and we expect this to continue. 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.”
Apartment complexes are chosen, in no particular order, based on specific ratings criteria. These include the design and space, maintenance, location, views, security, activities, quality of build and fittings, and the appeal to wealthy buyers.
The Top 10 :
Located in Bantry Bay in Cape Town, the complex offers residents impressive ocean views. Notably, it is also protected from the infamous Cape Town winds. All the units are larger than 300sqm. The complex was designed by SA architect Stef Antoni. Prices range from R30m to R40m.
Located in Sandton, this is a unique mixed-use residential area. Offering residents easy and safe access to shops, bars, restaurants, and offices, apartment prices range from R2m to R30m.
A luxurious new apartment block overlooking the US embassy in Sandton. The complex consists of 12 storeys and 93 exclusive apartments. Prices range from R7m to R30m.
This complex is located in Killarney, Johannesburg. Impressive internal gardens, sculptured pillars, and a timeless design make this an appealing choice. Prices range from R3m to R12m.
Located in Houghton, Johannesburg, the development has access to the Houghton Golf Course. The development will soon include a hotel residence. Several units, ranging from studios to large penthouses, are available. Prices range from R4m to R100m.
Located in Clifton, Cape Town, this complex overlooks, and offers easy access to, Clifton Beach. Prices range from R3m to R30m.
Located on Melville Road in Illovo, Johannesburg, the complex has a timeless design. Prices range from R3m to R10m.
Located in Plettenberg Bay, the complex overlooks Lookout Beach and the Lagoon. Apartment prices range from R3m to R10m.
V&A Marina Apartments
Located on Dock Road in Cape Town’s Waterfront District, residents have easy access to the Waterfront shopping center. This is arguably the most expensive address in the country, with apartments fetching around R90,000 per square meter.
Located in Umhlanga and overlooking the main beach, the complex offers several different types of units. Prices range from R3m to R30m.
The report also highlights the fact that there is a rise in demand for apartments that offer residents easy access to leisure activities. In addition, it notes that a large number of estates are now also adding luxury apartments to their offering, where before they would focus only on houses.