[imagesource: RE/MAX Living]
If you happen to have R230 million burning a hole in your bank account, you can snap up the most expensive home currently listed in South Africa.
There’s a catch, though – the Sky Is The Limit complex in Clifton will only be finished in 18 months or so, meaning you won’t be able to move in until at least 2024. I’m sure you’ll be just fine renting somewhere else in the meantime.
Real dreamers should also know that there’s a rather unique plot available on the ultra-exclusive Nettleton Road via RE/MAX Living. You’re looking at 3 812 square metres of the most sought-after property you’ll find anywhere in the country, so obviously, it won’t come cheap.
All in all, you’ll be forking out a mammoth R300 million to set up shop on what IOL calls “South Africa’s most exclusive road”.
That’s up for debate, and we’ll take a closer look at that claim later, but for now, here’s the deal:
The property… can either be purchased entirely or sub-divided, says marketing agent Allan Barrett of RE/MAX Living.
The plot can be divided in half, with each piece of land costing R150m, or into four at a cost of R75m each.
But who has the money, or the desire, to pay these millions and then still have to build a home on it?
“Anyone who would want to be in Nettleton Road,” Barrett says, adding that someone once bought a plot in the road and then spent R300m building their home on it.
Let’s assume those people were foreigners, like the Germans who bought a Bantry Bay home for R290 million in 2016. That way, it seems slightly more palatable.
Barrett says the Cape Town high-end property market is heating up and he expects they will get an offer soon. A developer could potentially purchase the plot, which comprises four erfs, and build three properties on each and 12 in total.
Regarding the most expensive street claim, Nettleton Road has always hovered close to the top of the list but only ranked third in 2020, behind Victoria Road and The Ridge & Cliff Road.
According to the Africa Wealth Report for 2022, Clifton is the most expensive suburb:
MyProperty used that same report to compile this table, showing how the rest of the country is lagging behind:
One thing is for sure – you buy in Nettleton Road, you’re not rubbing shoulders with paupers.
You might also have someone like Dan Bilzerian rent out the iconic ‘Iron Man’ property for a few days so keep the binocs at the ready.
[sources:re/max&iol&myproperty]
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