The Atlantic Seaboard suburb of Fresnaye

The Atlantic Seaboard suburb of Fresnaye is one of those rare gems, offering stunning sea and mountain views, shelter from the notorious Cape South Easter, and tremendous capital value growth and investment value, says Ross Levin, licensee for Seeff Atlantic Seaboard.

Villas in the suburb have sold this year for up to R69m and a penthouse for up to R32.5m. The average price is up by a phenomenal 74% over the last five years. Just over half of all freehold houses have sold this year for over R20m. The total value of sales at R753.6m (from 45 units) for this year (to early November) already exceeds the total value for 2024 of R638m (from 51 units). Levin says this is reflective of a general uptick in activity across the Atlantic Seaboard over the last few years.

Although a small suburb, Fresnaye occupies one of the best locations on the continent. Situated on the slopes of Lion’s Head, it is one of the two most wind-sheltered suburbs, and offers incredible ocean and mountain views. It has a unique French-Riviera feel with lovely palm-tree lined avenues and a mix of family houses, apartments and penthouses, along with holiday properties and guest houses.

Fresnaye frequently ranks as one of the best places to live and holiday in. It offers quick and easy access to the amenities and attractions of the Atlantic Seaboard and City Bowl, from retail and restaurants to leisure and the sought-after beaches. Access to excellent schools makes it a top choice with family buyers. Some of the most desired streets in the country, offering some of the best views are located here such as Ave Alexandra, Ave Fresnaye, Head Road, Kloof Road, and Top Road.

Levin says the suburb consequently attracts high demand and premium prices, making it one of most affluent suburbs as buyers compete for the most sought-after addresses in the country. There is an approximate 50/50 split between freehold and sectional title properties. The overall average selling price this year stands at around R16.7m, placing it among the top in the country.

Propstats data, however, shows that the average price for freehold houses is actually higher, and well above this at R21.9m. Just over half of all freehold sales (16 sales) this year have sold for upwards of R20m to a highest price of R69m for a luxury villa in Head Road.

About half of all the sales in the suburb were sectional title properties, which sold at an average price of R10.8m. The sought-after high-end apartments and penthouses, however, tend to achieve much higher prices.

The Atlantic Seaboard is arguably the most valuable residential belt on the continent. Everybody who visits Cape Town tends to frequent the area, and it ranks as one of the most desired areas to live and invest in, says Jo. It therefore offers a compelling investment case with transaction data showing strong capital retention and growth as illustrated by this year’s sales data.

Issued by Gina Meintjes