Fresnaye - home to dream properties

Area history

Located between Signal Hill and Sea Point, Fresnaye is one of Cape Town’s most affluent suburbs. Just a few kilometres west of the city centre, the suburb is set on the slopes of Lion’s Head and is known as one of the area’s most fashionable residential hubs.

4 Bedroom House for sale in Fresnaye

Due to its prime positioning on the mountain, the area is largely sheltered from the south-easterly winds. This, along with the fact that it is so close to Cape Town’s CDB, has led to the area becoming home to some of the most expensive real estate along the Atlantic Seaboard. Another major draw card of the area is its proximity to the trendy Atlantic beaches of Camps Bay and the four beaches of Clifton, which are literally within walking distance from Fresnaye.

Fresnaye residents can also enjoy nearby Sea Point’s Main Road, which has a diverse offering of restaurants, shops and other entertainment facilities. Sea Point’s promenade is also highly popular among walkers and joggers.

Area property information

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that property in the upmarket area of Fresnaye consists of 62.80% freestanding homes and 37.20% sectional title units. He notes that recent buying activity in the area has been fairly evenly spread between buyers of all age groups with 31.45% of recent buyers aged between 36 and 49 years old, 28.3% between 50 and 64 years old and 26.42% above the age of 65 years old.

4 Bedroom Stefan Antoni designed House for sale in Fresnaye

Goslett says that while the number of property sales in the area saw a drop in 2008, sales volumes have still been relatively high when compared to other regions across the country. He notes that between 2010 and 2012 around 88 properties were sold in the area each year.

According to Goslett, the price of a freestanding home in the area was relatively unaffected by the recession. Lightstone data reveals the average price of a freestanding home in Fresnaye saw massive growth between 2004 and 2007, with the price stabilising and remaining fairly flat up until 2009. Goslett says that from 2010 the price began to see year-on-year increases reaching a record high of R6.891 million this year.  He notes that the average price of a sectional title unit has performed far more erratically, seeing growth up until 2008 and then dipping in 2009. The price recovered slightly in 2010, only to drop again in 2011. Since then the price has seen a far steadier upward trend.

Property price trends


Demand for property

Goslett says that 67.3% of homes sold in Fresnaye between December 2012 and November 2013 were those priced above R3 million.  Around 22.8% were priced between R1.5 million and R3 million, while properties between R800 000 and R1.5 million represented 7.6% of the area’s sales. Only 2.2% of homes sold during this period were priced between R400 000 and R800 000.

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