Camps Bay SA's priciest suburb

Johannesburg - It appears that wealthy investors still have plenty of appetite for big-ticket properties with prices in some of SA's swankiest suburbs still rising at double-digit rates.

This is according to the latest data from real estate portal South African Property Transfer Guide (SAPTG).

The Atlantic seaboard suburb of Camps Bay saw average house prices surge by 56% over the past year to R7m in March 2008, up from an average sales value of R4.48m in March 2007.

That places Camps Bay as SA's most expensive suburb in SAPTG's monthly top 10 survey of highest average sales value achieved.

SAPTG's data, which is sourced from the Deeds Office, applies only to property transfers of up to R20m.The survey is divided between suburbs were 10 or more sales are achieved per month and suburbs with less than 10 sales.

The Cape Town suburb of Constantia ranked second after Camps Bay as the highest-priced residential neighbourhood in SA (10 or more sales) with an average sales value of R 5.95m. Posh golf resort Zimbali on KwaZulu-Natal's north coast claimed third spot in March, with an average sales value of R3.65m. That's growth of 21% in 12 months.

In the "less than ten sales" category, Cape Town again boasted the highest priced suburb in SA, with Fresnaye on the Atlantic seaboard taking top slot with an average sales value of R6.9m.

Not hit hard by credit act

That's followed by Gauteng's exclusive Hyde Park where properties changed hands at an average R4.78m in March this year 17% up from the average price tag of R4m achieved in Hyde Park a year ago.

SAPTG's house price trends for top-end suburbs are in stark contrast to what is happening in middle-income areas. Standard Bank's latest data shows that median house prices in SA dropped by 5.2% in the year to March 2008 from R580 000 to R550 000.

That's the first time in eight years that median house prices have actually dropped in nominal terms. And property economists expect the overall market to stay in the doldrums for at least the next 12 to 18 months. More so, if interest rates are hiked yet again later this week.

Estate agents confirm that luxury suburbs have been far less affected by higher interest rates and the National Credit Act (NCA) than the middle and lower priced end of the market.
Laurie Wener, MD of Pam Golding Properties (PGP) in the Western Cape, says top-end suburbs remain active despite the general slowdown. PGP recorded a number of record sales in the past three months on the Atlantic Seaboard. Many of these sales are going to cash buyers who are not affected by higher rates and the NCA.

Recent record sales deals include a penthouse apartment in Clifton for R48m, an apartment at the V&A Waterfront for R22.5m and a three-bedroom home in Camps Bay for R16.5m. Wener says foreigners are still showing a keen interest in the area, but at least 60% of sales are going to South Africans - both Capetonians and upcountry buyers.

Jared Gottschalk of the Alliance Group says they recently sold a "moderate" Camps Bay beachfront property to an upcountry buyer for R44m, proving once again just how strong demand for prime properties in this area of Cape Town still is.

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Camps Bay Self Catering Accommodation

Camps Bay Spots: The Roundhouse Restaurant

Cape Town's new Roundhouse restaurant situated in Camps Bay's The Glen opened on the 9th June 2008

Founded in 1756 the Roundhouse building has an abundance of nostalgia surrounding it.

This history seems fitting for an evening of luxury and fine dining in The Roundhouse’s new use as an upmarket restaurant.The Roundhouse restaurant promises to be one of the most superb restaurants under the Cape Town sky.

They offer expert service, French cuisine based on seasonal textures and flavours as well as fine rare wines from a variety of boutique cellars from all over the world.The Roundhouse restaurant has four different dining experiences where you are able to dine in style according to your preference.

The private dining room is well over 300 years old and holds one of the finest and most rare wine collections in the country.Just knowing the history of the room amplifies its grace and elegance so much more.

With its lavish views of all the Cape's beauty including the Twelve Apostles, Clifton and Camps Bay the Somerset Room is the perfect place to savour the taste of the exquisite wine and cuisine.The Oval room is fantastic, with its fully customizable ability it’s able to cater for both large or small, intimate events.

The room still features its original fireplace adding warmth and romance to an already beautiful setting.The Rumbullion is the name given to the terraces at the Roundhouse. It’s a 17th century term meaning ‘a riotous good time’.

The terrace is surrounded by century old pomegranate trees and beautifully landscaped gardens. It will most certainly be a wonderful place to share special moments with friends and family.For latest information: read more on the opening of the new Roundhouse Restaurant in our events section.

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If your going to Camps Bay check out Camps Bay Accommodation

I love Camps Bay

Camps Bay Self Catering | Camps Bay Luxury Holiday Apartments

http://www.gotravel24.com/theme/adventure/i-3-camps-bay

By Lebogang Mogashoa
December 1st, 2008 

Camps Bay has first dibs on that summer look. It's like this, if you're in Cape Town and you spend the whole season without spending a full day in Camps Bay, can you really say you've experienced summer?

Here are more reasons why we love the bay.

1. The beach

How rad is that beach? It can be intimidating sometimes because the hot bodies on display might induce panic in some of us whose bodies didn't get the memo. Otherwise, the white sands and the masses of people just make it all very party beach central

 

2. The pipe trail

This flat walking trail gets its name from the old water pipe it follows at the top of Camps Bay. You can take in spectacular views of the bay at a leisurely pace.

3. Theatre on the Bay

It's nice to know that you can spend the whole day being lazy at the beach. Then later that night show off your glowing tan at the theatre. It's a nice one too; perfect for big shows.

4. Dizzy's Jazz Café

 

There's something really casual but grownup about eating good food on a summer day while listening to jazz music. And the fact that you can actually do this in beachy Camps Bay makes it the perfect atmosphere.

 

5. Celeb spotting

If you like to see the rich and famous looking casual and relaxed, Camps Bay is one of the most reliable magnets. Check them out at Café Caprice where you go to see or to be seen.

6. Fishy heaven

You can't go to Camps bay and not eat some kind of seafood. It's rude. Especially as there are so many places to choose from. Some of the best include the Codfather, Yo Sushi, and Sunset Beach.

7. Sinnful ice cream

There's ice cream and then there's ice cream (users of this phrase will know which is fiercer). The appropriately named Sinnful has too many flavours to mention. It's the kind of ice cream that puts other contenders to bed.

8. Wine outside the Winelands

Wine tasting is such a Cape Town thing. It's normally done in a day trip to the Winelands. But if you'd like your wine tasting and still keep your beach time, check out Deli at the Bay.

9. Sundowners

Catch the perfect summer sunset here from the beach or from one of the many nice bars in the area. Popular bars on the strip include Baraza, Eclipse and Caprice.

10. Beach shopping

If you like your summer with a bit of shopping, Camps bay doesn't disappoint on that front either. Albeit it's shopping of the beach variety. Victoria Road is home to surf shops and street vendors selling anything from swimwear, towels to sarongs and napkin rings.