Posh and Lavish

Seven of the eight most expensive South African suburbs are in Cape Town

Well colour us surprised. Not.

By Alexis Haden -

October 17, 2017

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Water crisis? What water crisis. Despite the very real possibility that the city could run out of water by March next year, folks are willing to splash out millions per square meter for prime real estate in Cape Town.
Who are these people who can afford R80 000 per square m for a spot in Clifton?
The data comes from research group New World Wealth. They have published a list of the most exclusive suburbs in the country as at the end of September 2017.

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To determine what makes a suburb “exclusive”, New World Wealth identified two major metrics: price per square meter, and the number of R20 million homes in area.
NWW admits that the price per square meter has some limitations. “This is due to the garden element (i.e. how do you value the garden?). The truth is price per square meter stats only work really well on apartments and some areas don’t have many apartments which makes this tricky,” it said.
Nonetheless, they crunched some numbers and came up with a list – and it’s pretty damn depressing for us ordinary folk.

Here’s a list of South Africa’s most expensive suburbs

South Africa	ZAR per sqm	USD per sqm	200sqm Apartment cost
Clifton	80000	$6 154	16000000
Bantry Bay	75000	$5 769	15000000
Fresnaye	60000	$4 615	12000000
Camps Bay and Bakoven	56000	$4 308	11200000
Llandudno	54000	$4 154	10800000
Greenpoint, Granger Bay and Mouille Point	47000	$3 615	9400000
City Bowl	45000	$3 462	9000000
Central Sandton	36000	$2 769	7200000

The areas on that list are hardly a surprise, but the prices perhaps are, a little.
Anyway, soon it won’t matter because we’re probably gonna run out of water and nothing is a greater leveller than running out of a resource needed for existence.