Despite the challenging market and notable decline in R20 million-plus sales on Cape Town'sAtlantic Seaboard over the last twelve months, Seeff agents Adrian Mauerberger and Cecily Sherachieved R300 million in sales over the last year. This includes an R80 million Bantry Bay apartment which is a new price record and the highest price achieved in South Africa over the last year.

This luxury apartment in Bantry Bay, Cape Town, sold for R80 million, a record price for the suburb and the highest price achieved in South Africa for the last year

Overall, it was a slow year for the super luxury market with only three sales topping the R50 million price mark, two of which were sold by Seeff, but sectional title property still seemed to find buyers. While the bulk of apartment sales were still below R8 million, it is noteworthy that buyers are still prepared to invest in high-value property here, say the agents.

This three bedroom, three bathroom 546sqm penthouse in Bantry Bay, Cape Town, has sweeping views, jacuzzi, splash pool, wine cellar and more. It is on the market for R45 million - click here to view.

According to Ross Levin, Director for Seeff Atlantic Seaboard, the top suburbs for luxury apartments include Clifton and Bantry Bay for the complexes located on the sea side of VictoriaRoad, mostly offering luxury living spaces and top-class privacy and security.

Balie Bay in Camps Bay is another popular area for its stunning waterfront views. The V&A Waterfront Marina offers a wide range of luxury apartments overlooking the canals and yacht bay, while nearby Mouille Point is increasingly sought after by luxury apartment buyers willing to pay in the upper millions for its stunning waterfront views.

This four bedroom, three bathroom 440sqm apartment on Moses Beach in Clifton has a sauna, cinema room and flowing entertainment areas. It is selling for R85 million - click here to view.

The highest prices for apartments sold on the Atlantic Seaboard over the last five years as recorded by Propstats include:

Clifton - R80 million at The Beaches in 2017, R78 million at Eventide in 2016.

Bantry Bay - R80 million at The Bantry in 2018.

V&A Waterfront - R43 million at Parergon in 2015.

Camps Bay - R44.46 million for a penthouse in 2017.

Mouille Point - R40 million at East West in 2018 and R78 million at Amalfi in 2015.

While top-end luxury apartments are popular second or holiday properties for buyers from upcountry areas such as Johannesburg, as well as foreign buyers, Mauerburger and Sher report that most of their sales were for own-use residential with very little investment buying.

This 140sqm contemporary luxury apartment in Balie Bay, Camps Bay, has two en-suite bedrooms and a north-facing entertainment patio with splash pool. It is on the market for R13.75 million - click here to view.

Levin says there were only three notable sales to foreign buyers over the last year, including R26 million in Bantry Bay and R28 million in Bakoven to UK buyers and R22 million in Camps Bay to an American buyer.

“Overall, we have seen a notable rise in the demand for luxury apartments by residential buyers. Location, security and convenience are among the reasons for this. What you lose in yard space, you make up for in lifestyle benefits,” he adds.

This two bedroom, two bathroom 117sqm apartment Mouille Point has a sea-facing balcony. It is on the market for R18.99 million - click here to view.

“A good location is always in demand and buyers will always be prepared to pay for stunning views. The convenience, privacy and security is a powerful combination for the increasing number of people looking to maximise their lifestyle.”

At the same time, you are investing in the premier real estate belt in the country as evidenced by the phenomenal capital growth seen during the recent market expansion phase. This, says Mauerberger and Sher, again demonstrates that in a tight market where buyers have the upper hand, those who are able and willing to invest, will invest in property.