R48m Constantia home sold ‘sight unseen’ at full asking price
Cape Town’s luxury residential property market continues to outperform seasonal expectations, with high-end homes across the Atlantic Seaboard, City Bowl and Southern Suburbs attracting sustained demand despite the usual winter slowdown, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
Says Dr Golding: “What began as a post-pandemic shift in buyer behaviour has evolved into a prolonged high-demand trend, characterised by severe stock shortages, strong local as well as international interest and increasingly competitive bidding for prime, high-end properties. In many instances, well-located homes are being sold within days of listing, with multiple offers and, in some instances, transactions concluded above asking price.
“The strength of demand and robust confidence in Cape Town’s residential market was underscored recently when we sold a Constantia home for its full R48 million asking price to an international buyer who purchased the property ‘sight unseen’ - without viewing it in person.
“The Cape Town residential market is now effectively operating at capacity all year-round, with little evidence of a meaningful seasonal slowdown. Instead, transaction volumes are increasingly dictated by stock availability rather than by fluctuations in demand.”
Says Basil Moraitis, regional head for Pam Golding Properties in the Western Cape: “We are seeing particularly strong activity in the R20 million to R70 million-plus segment, where competition for quality stock remains intense and buyer urgency is driving rapid sales cycles.
“Prices for trophy properties and unique locations with sweeping views are reinforcing the value proposition of prime property in particular, as well as fuelling property prices in well-located, accessible suburbs in the Cape Metro.”
Moraitis says along the Atlantic Seaboard and in the City Bowl, demand continues to significantly outstrip supply, particularly in suburbs such as Clifton, Camps Bay, Fresnaye and Bantry Bay. The market incorporates everything from quaint Victorian cottages to modern state-of-the-art, bespoke architect-designed homes. Typically, the City Bowl has a mix of both, whereas in Clifton and Camps Bay, the bungalows on the beach are highly sought after, as are luxury villas. Clifton also boasts some of the most desirable sectional title apartments on the seaside, which command prices in excess of R200 000 per square meter.
“Beachfront homes and luxury villas remain tightly held, while sectional title apartments in Clifton are achieving prices exceeding R200 000 per square metre,” says Moraitis. Interestingly, during the five months from January to May 2026, the sectional title median sales price in Clifton was R31.17 million – a record high and reflecting an increase of 64.1% from the previous median high of R19 million in 2020. (Source: Lightstone statistics)
The V&A Waterfront and the remainder of the beachfront remain in high demand amid low supply levels. The traditional part of the Waterfront, being the peninsula and the yacht basin, has now become tightly held with very few homes changing hands.
Moraitis says another emerging trend is the acquisition of older, larger properties for redevelopment into boutique multi-unit schemes or exclusive luxury developments, further tightening the supply of standalone homes in prime locations.
The same high-demand price pressures apply in the City Bowl. Says Moraitis: “In Higgovale, a contemporary three-bedroom double-storey home with views of Table Mountain recently sold within days of listing to a local buyer for R15.75 million in cash - above its R15.5 million asking price, following competitive bidding from multiple buyers.
“While the Atlantic Seaboard tends to attract buyers who want to be in a more cosmopolitan environment - enjoying an increasingly popular '15-minute city' lifestyle where you can live, work and play in one hub, the leafy, upmarket Constantia and Bishopscourt areas in Southern Suburbs attract family buyers with children attending top-end schools, or those seeking the peace and solitude of a beautiful mountain setting close to world class wine farms.”
In general, properties that successfully combine privacy, generous erf size and security features tend to achieve the strongest demand and premium pricing. Move-in ready homes that incorporate modern comfort with timeless design are attracting the highest levels of interest.
Constantia sees strong international and returning buyer demand
Constantia continues to attract a broad mix of local and international buyers, supported by favourable exchange rates, strong lifestyle appeal and Cape Town’s growing global profile as a premium destination.
The suburb’s attractions lie in its combination of space, privacy, vineyard surroundings, and proximity to leading schools and the city. Many international buyers already have prior connections to South Africa, while others are drawn by lifestyle considerations and relative value compared with other global luxury markets. International buyers are typically drawn to properties with space, privacy, mature gardens, proximity to vineyards, and lifestyle convenience rather than density or estate living alone.
Sam Nel and Shelly Keys, Western Cape area managers for Pam Golding Properties, report that at current levels, R20 million has effectively become the entry point for a quality family home in Constantia, with demand spanning both South African and international purchasers. European buyers remain particularly active, alongside growing interest from the United States.
Says Keys: “A notable feature of recent activity is the increasing prevalence of cash buyers and transactions concluded ‘sight unseen’, particularly in tightly contested segments of the market.
“There is also a clear shift in buyer profile, with younger purchasers in the late 30s to early 40s entering the market and showing a strong preference for renovated character homes that combine traditional Cape architecture with modern interiors and open-plan living.”
Bishopscourt operates at ultra-prime end of market
Bishopscourt continues to function as one of Cape Town’s most exclusive residential enclaves, with demand consistently exceeding supply across all price bands, and with well-priced homes selling within weeks or discreetly before public launch to the market.
Says Nel: “Entry-level pricing for quality homes in Bishopscourt now typically begins in the R30 million to R35 million range, while activity above R50 million remains robust for exceptional properties. At the very top end, interest in R100 million-plus estates is increasingly being driven by both local and international buyers and ultra-high-net-worth individuals.
“Buyers in Bishopscourt are highly specific in their requirements, placing particular emphasis on privacy, north-facing orientation, land size, architectural quality and redevelopment potential. Well-located properties, especially those offering renovation opportunities, are attracting strong competition from both investors and end-users.”
Stock shortage continues to drive competition among buyers
Across both Constantia and Bishopscourt, stock shortages remain a defining feature of the market. Quality homes are frequently sold before or immediately after listing, while well-priced properties often attract multiple offers within a short period.
“The shortage is being driven by sustained demand, limited new supply and a growing tendency among existing homeowners to retain properties due to long-term capital growth and lifestyle appeal,” says Nel.
“As a result, entry price points across both suburbs have shifted materially higher in recent years, with what was previously considered premium pricing now effectively forming the new baseline in several sub-segments.”
Outlook remains positive despite price sensitivity
Concludes Moraitis: “Looking ahead, demand across Cape Town’s high-end residential market is expected to remain resilient through the winter months. However, conditions are increasingly price sensitive, with correctly priced properties continuing to transact quickly while overpriced stock remains on the market for longer periods.
“Winter has become less a period of reduced demand and more a phase of reduced supply, as fewer homeowners choose to list during the season. This dynamic can, in some cases, benefit well-prepared sellers by reducing competition.”
Overall, Cape Town’s luxury residential sector continues to be underpinned by strong lifestyle demand, local as well as international interest and a sustained perception of long-term value, reinforcing its position as one of the most sought-after prime property markets globally.
For further information visit www.pamgolding.co.za
