Pretoria and Cape Town’s prestige ambassadorial suburbs are booming

Waterkloof in Pretoria and Bishopscourt in Cape Town are South Africa’s top ambassadorial suburbs favoured by ambassadors and senior diplomats worldwide. These are usually high-end suburbs such as Belgravia in London and Kalorama in Washington DC, known for historical prestige, security, and elite amenities.

The prestige of these neighbourhoods also attracts high-profile individuals, including accomplished business executives and entrepreneurs, celebrities, and politicians, both for private and official residences.

According to the Seeff Property Group, these suburbs represent some of the best addresses and are home to some of the most valuable real estate in the country, with property values escalating despite economic pressures. Bishopscourt, for example, currently commands an average selling price of over R25m with over 70% of all properties sold for over R20m this year.

Waterkloof and Waterkloof Ridge in Pretoria East suburbs are not only the most exclusive suburbs in Pretoria, but also the country’s top ambassadorial belt with over 100 homes owned or leased by foreign embassies, according to Gerhard van der Linde, MD for Seeff Pretoria East. These are well-established suburbs with Jacaranda-lined streets, and prestige homes set on large plots with the hilltop homes offering the best city views often commanding prices exceeding R20m. The average prices typically range from R3m to R15m.

Over 80% of the properties in Waterkloof are full title and the high-value real estate has shown consistent appreciation, with an average growth of 6-8% per year over the last decade. The market remains stable, with sales volumes still somewhat ahead of pre-pandemic levels. Buyers are mostly in the 35-55-year age group, and more than half of residents have lived here for more than 11 years.

The suburb’s appeal is bolstered by its close proximity to top schools such as Pretoria Boys High and Pretoria Girls High, and the University of Pretoria. Residents have access to a wealth of high-end amenities, including the prestigious Pretoria Country Club, with its 18-hole golf course, chic restaurants, and nearby major shopping centres such as Menlyn Park.

Bishopscourt (Cape Town), the second prominent ambassadorial suburb, situated on the eastern slopes of Table Mountain. It is renowned for its exclusivity, lush streets, and grand homes with spectacular views, says Francois Venter, lead agent for Seeff “The Uppers.” It is home to the U.S. ambassador’s residence, Kearsney House, and attracts foreign embassies, consulates, international celebrities, and prominent local business and political figures, making it one of South Africa’s most prestigious neighbourhoods.

Homes are grand with luxury features including expansive grounds, offering security and privacy. Residents are drawn to the natural beauty, prestigious lifestyle, and proximity to some of the city’s top schools, including Bishops and St Mary’s, and the nearby University of Cape Town. The suburb is also close to the world-renowned Kirstenbosch Gardens and prestigious Constantia wine farms.

The Bishopscourt property market is a high-value sector, with listings typically starting from R20m. Here too, most properties have been under the same ownership for more than 11-years. The average asking price is now over R28,4m and the selling price at R25.4m, but listings range to over R100m, indicating a highly competitive market driven by scarcity of stock, says Venter.

The suburb is a superb investment, with property values having more than doubled over the last decade. Bishopscourt has seen some of the highest-value transactions in the country, with sales of over R50m not unusual. Remarkably, 71% of all sales this year have been over R20m (15 sales) to the highest price of R50.25m. These were mostly to local buyers as well as to buyers from Gauteng and KZN, and two sales to UK buyers.

Venter says the demand is such that Bishopscourt properties are selling within just 45 days, and often much faster.

Issued by Gina Meintjes