Casablanca House - Most expensive in SA at R440 million

The Geneva Drive mansion is a contemporary version of a neoclassical home "designed and built for an international mogul who enjoys lavish entertaining on a grand scale", according to the Sotheby's International Realty website.

Its triple-volumed reception rooms can accommodate 1000 guests and its parquet-floored garage can house 14 cars.

The asking price is way above the average price of R10.5-million for houses on the same street since 2010.

Steven Delit, Property expert with Remax, spoke to CapeTalk presenter Kieno Kammies about the expensive piece of real estate.

"With that price, one could have bought each of the 33 houses that were sold in the first half of the year and bought out all the food stock at a Woolworths store - to ensure you really host a good party."

According to Delit, the asking price for many properties is often inflated for 'public relations value'. He says the the City of Cape Town should evaluate the mansion to assess the property's real worth.

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