R170 million apartment is the most expensive on the market

Listed at R170 million, an eight-bedroom apartment located Clifton is the most expensive in South Africa.  

There has been a lot of interest in the unit since its listing on December 7, 2020 says Karryn Cartoulis, sales associate at RE/MAX Living. Even so, for 2020, the total value of property sold in Clifton reached R116.5 million, which was a decline compared to the R191.55 million reached in 2019. 

The Clifton area has seen a number of mentionable sales over the last decade with a R198 million sale in 2012, and a R120 million sale on Nettleton Road in 2017. 

Meanwhile surrounding neighbourhood Fresnaye reached R221.77 million in total sales for 2020 compared to the R455.216 million achieved in 2019.  

Luxury Levies 

Luxury properties are not without their expenses. For this R170 million property the buyer can expect to pay a levy of R45 832 a month according to Cartoulis. 

In contrast, a four bedroom apartment on sale in Clifton at R120 million commands a levy of R27 920 a month. Alternatively, a smaller 3 bedroom apartment in the same area, at the price of R13.5 million, will require a levy of R5 500 a month according to Private Property.  

Price ranges 

This apartment is part of a complex, which in total is spread over nine floors and is home to 30 different units. However, Cartoulis maintains that the apartment is more luxurious than its neighbouring homes. 

“It is a double-storey penthouse that was redesigned [or] renovated by Antoni Associates,” she begins before elaborating that three separate properties cumulated together to form this one apartment. 

Price ranges for apartments in Clifton differ according to its various characteristics. Last year, the cheapest apartment was sold for around R8.4 million while the most expensive property was negotiated to R30 million. 

In Fresnaye, the cheapest apartment sold for R2.225 million and the most expensive sale amounted to approximately R6.5 million.