Analytics company, Lightstone, has released new data looking at the most valuable suburbs and streets in South Africa.
Lightstone drew its conclusions by comparing nearly eight million registered properties across South Africa – 83% of which are residential properties and 17% non-residential.
The group found that Gauteng and the Western Cape feature the largest proportion of properties, and also hold more than 50% of the national market value.
The most valuable suburbs and streets were also found in these provinces, reports BusinessTech.
These include:
- Western Cape – Cape Town; Sea Point, Rondebosch and Fresnaye;
- Gauteng – Bryanston, Morningside and Midstream;
The one notable exception is Umhlanga in KZN, which has seen significant investment over the last decade.
In the Western Cape, the most expensive suburbs and streets were as follows:
According to Realestatecoulisse, the majority of the houses on the most expensive streets in South Africa are worth over R20 million. Here’s the top 10:
- Moneterey Rd, Bel Ombre. Average house price: R29.875m
- Ravine Road, Bantry Bay. Average house price: R27.575m
- Logies Bay Road, Llandudno. Average house price: R27.250m
- Killarney Road, Hyde Park. Average house price: R22.3m
- Sunset Ave, Llandudno. Average house price: R21.525m
- Glencoe Road, Oranjezicht. Average house price: R21.5m
- Avenue St Louis, Fresnaye. Average house price: R21.417m
- Chesterfield Road, Oranjezicht. Average house price: R21.1m
- 5th Avenue, Illovo. Average house price: R20.875m
- Beauvais Avenue, Bel Ombre. Average house price: R20.700m
Cape Town came out on top as the most expensive city in South Africa, but we already knew that.
One look at the bank account of someone trying to rent here is a pretty good indication of where we’re at.
[sources:businesstech&Realestatecoulisse]
