Record selling prices shift property values across the Cape Peninsula

With record selling prices being achieved in suburbs across the peninsula, the ceilings of property values are shifting, says Mike Greeff chief executive of Greeff Properties, an affiliate of Christie’s International Real Estate.

This five-bedroom Kalk Bay home was sold for a record R14 million including VAT. The previous record was R12m.

“Greeff Properties agents have achieved at least 10 record sales since January,” says Greeff.

Among the record sales are: A five-bedroom home in Annvon Mews, Diep River which was sold by Greeff agents Liz Robertson and Roz Van der Walt for R3.4 million, the second highest selling price in the area is R3.1m, achieved for a four-bedroom, home in Duminy Road.

Greeff agents also achieved a record selling price of R4.8m for a five-bedroom home in Clifford Crescent, Bergvliet, beating the previous record of R4.63m, achieved for a four-bedroom home in Starke Road, Bergvliet.

Agents Val Petzold and Mark Shagham sold a five-bedroom home in Milner Road Rondebosch for R7.9m – the previous record for this area of Rondebosch was R5.8m, paid for a four-bedroom home in Sandown Road.

In Fish Hoek Greeff agent Rob Mustart holds the record with a price of R10m paid for a four-bedroom home with two double garages in Simon’s Town Road. The sale included the household contents. The second highest selling price achieved since then is R5.8m for a four-bedroom Fish Hoek home.

In Noordhoek, Greeff agent Dale Gremels sold a four-bedroom home in Ratelklip Road, for R13.5m, achieving the highest selling price in the beach area Noordhoek for a home outside a security estate. The previous record selling price was R9m for a three-bedroom house in Protea Road, Noordhoek. This sale was also by Gremels.

In Kalk Bay a new record of R14m including VAT was set, for a five-bedroom home on Main Road, sold by Greeff agents Ashley Barnes and Heather Cape.

The previous sales record in Kalk Bay was R12m, achieved for a two-bedroom apartment with sea views.

Further along the False Bay coast line, in Simon’s Town, Greeff agent Bruce Durham sold a six-bedroom home with eight garages for the record price of R14.6m, beating the previous record sale by an estate agency of a five-bedroom home for R14m.

In Zwaanswyk, Greeff agent Mandy Kuhn sold a five-bedroom home in Almondbury Road for R21.85m. Previously, the top selling prices for comparable properties in the immediate area were R14. 173m for a home in Zwaanswyk Road, according to CMA, and Propstats records a sale in Zwaanswyk for R14 997 480,” says Greeff.

In Claremont, Greeff agent Debbie woods achieved the first and second highest selling prices, with the sale of a five-bedroom home in Monmouth Avenue, for R29.75m beating her previous selling price of R23m, for a comparable home in Adare Place.

In Bishopscourt, the second highest selling price of R42m was also achieved by Woods, for a six-bedroom home in Torquay Avenue.

“Strong demand and a shortage of stock has defined the property market and placed the advantage largely in the seller’s corner for most of the past 24 months,” says Greeff.

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