Second Most Expensive Residential Property Sold In SA Is In Fresnaye

[imagesource: Lance Cohen]

To have Lion’s Head as your backyard and the Atlantic Ocean as the view that you wake up to every day, you’ll need to have R160 million at your disposal.

Well, not anymore, because one anonymous buyer has already snapped this Fresnaye mansion right up.

With the closing of this maddeningly expensive deal, the home has become the second-highest recorded sale of a residential property ever in South Africa.

What’s more, that’s 50% higher than the highest price of a property ever achieved for a sale in Fresnaye, reported IOL:

Image: In Residence and Adam Letch

Local agent and owner of Lance Real Estate, Lance Cohen, sold the five-bedroom villa, giving thanks to the COVID-19 pandemic for making the property prices so excellent of late:

[He notices] “many foreigners flocking to Cape Town as the desired place to be with Covid numbers on the rise, and European winter in full swing”.
“This coupled together with a relatively weak rand and the fact that property prices declined substantially from the highs of 2017/2018 and continued to decline during Covid-19, whilst other countries like America, Australia and the UK saw a substantial increase in price, makes the Atlantic Seaboard is offering very good value for money.”

Nestled in the mountainous enclave, Fresnaye is particularly highly sought after for being out of the way of the wild winds notorious in the Mother City.

All that, plus the property’s stylish designs and craftsmanship, make it worth the price, perhaps.

Besides a modern kitchen, floor-to-ceiling windows, a marble staircase, a fireplace, an outside bar area, and an infinity pool, there is also a wine cellar and a cinema room.

Check it out: