Luxury estate living is on the rise and the choice to live under a blanket of security, golf courses, and full equipped amenities is clearly seen in property markets in the Western Cape such as Constantia.
A report by Seeff Property Group shows the area of Constantia has constantly seen growth in terms of both local and foreign buyers.
The estate company says Constantia has seen transactions of just under R2 billion and a record number of R20 million-plus sales, the best numbers since the 2015-2017 housing boom.
Other suburbs in the Western Cape that have seen consistent sale numbers are Sea Point, with an estimated R1.3 million in transactions and Bishopscourt.
The success of the province in producing luxury living in a country battling many social-economic challenges goes hand in hand with Western Cape’s good governance, more stability in the province, and maintaining the roads and infrastructure, explains Steve Thomas, secure estate specialist for Lew Geffen, Sotheby’s International Realty in Cape Town’s southern suburbs.
The report also found that some South African are less hesitant to leave the country so they would rather invest in living upmarket developments.
He adds this helps attract international buyers however more locals are seeing the difference in living in the Western Cape than in other provinces.
The province is frequently recognised by tourists as one of the best places to visit in world tourism.
New World Wealth and Henley & Partners released a report titled “The Africa Wealth Report 2022” that listed the most popular places the rich in South Africa love visiting locally.
They included Hermanus, Paarl, Franschhoek, Stellenbosch, Knysa and KwaZulu-Natal hotspots, Umlanga Rocks and Ballito.
The same can be said for most of the areas above, as four Western Cape destinations were included in the list of the Top 100 most loved destinations in the world in 2021 by Tourism Sentiment Index (TSI).
Stellenbosch was listed at number 23 globally, followed by Knysna at number 19, while Hermanus ranked 41 and Cape Town at 54.