Wait, what? R175 million for a stand….would you buy it?
Yikes! A vacant stand in Clifton is for sale for R175 million, making it the most expensive piece of land per sqm on the market. Interested?
With international interest in the South African property market on the rise, this piece of land in Clifton is sure to be scooped up in a hot second. Or will it? Will you fork out R175 million for a plot of land? Check it out.
CLIFTON PLOT IN THE MARKET FOR R175 MILLION
While multi-million rand properties are popping up everywhere, this one is quite unique. It’s not a beautifully designed home but a plot of vacant land in Clifton. Oh, and you’ll need R175 million if you want to own it.
Here’s what we know.
According to BusinessTech, the 1 124-square-meter plot in Clifton is the most expensive piece of land per square meter currently on the market. The selling price equates to R155 694 per square meter.
The stand, located in the prestigious and well-known Nettleton Road, is being sold by global real estate specialists Engel & Völkers and is described as being on “one of the continent’s most desired and most valuable residential locations.”
As per the real estate agency, the stand offers jaw-dropping views of Table Mountain, the Twelve Apostles mountain range, and the famous Clifton beaches. “As far as the eyes can reach, you will encounter ever-changing, mind-blowing views, be it sunrise or sunset,” Engel & Völkers said.
The potential buyer will also have the option to obtain the approved building plans designed by well-known Jenny Mills Architects. Potential buyers will be able to build a multi-story exclusive Villa. Building costs are estimated at between R65 and R75 million.
Aerial views of the plot shared by Engel & Völkers show it nestled between other lavish homes complete with swimming pools, balconies, and beautiful ocean views.
WHY IS CLIFTON SO POPULAR AMONG PROPERTY INVESTORS?
According to BusinessTech, the exclusive suburb of Clifton boasts some of the most expensive real estate in South Africa.
Seeff Property Group’s analysis of the average selling prices across the country in 2023 revealed that Clifton is one of the most expensive suburbs in South Africa. According to the report, properties in the area typically sell for between R25 and R150 million.
Discovery Travel Channel rated the suburb as one of the top 10 beaches in the world, the Inside Guide reports. Clifton’s four beaches are favourites among locals and tourists, especially for surfing and bodyboarding.