Bumper month for residential property sales on Cape’s Atlantic Seaboard

Bucking the trend of seasonally quieter sales activity in the residential property market during the cold and wet winter months, the Cape’s Atlantic Seaboard has experienced a major uptick in demand and concluded transactions, with Pam Golding Properties reporting record June sales turnover of R240 million in this region for that month (2025) alone.

Says Dr Andrew Golding, chief executive of the Pam Golding Property group: “This figure is more than double the previous June high for this highly sought-after coastline, which attracts buyers from around the country and internationally, drawn by the natural scenic beauty, exceptional lifestyle and wide array of amenities in a world-class city. Cape Town is one of the few walkable cities in South Africa, boasting the Promenade on the Atlantic Seaboard and popular streets in the city, such as Bree Street, which enjoy high levels of pedestrian traffic.

“Although currently still in the throes of another very cold winter, during which Cape Town has seen heavy rains, the demand continues unabated. It seems to be more about the prime location and Cape Town being profiled as ‘ the place to be’, which has fuelled demand from a variety of buyer categories.”

Basil Moraitis, area manager for Pam Golding Properties, says the sheer scale of demand for property in the area, coupled with the fact that supply constraints are at an all-time low, translates into significantly heightened sales activity on the Atlantic Seaboard – which includes the City Bowl and areas from Foreshore through to Camps Bay.

“The entire Atlantic Seaboard has benefited from the current market conditions, with the City Bowl area being an outperformer for the month (June).

“Buyers have needed to act very quickly to avoid missing out. Typically, many sought-after properties are not being publicly listed but are marketed directly to the agent’s network of purchasers and investors. Now, more than ever, those agents with extensive area knowledge and homeowner contacts are extremely well-positioned to secure off-market listings and sales, due to the prevailing market conditions.”

Moraitis says the buyer profile is broadly represented from all regions in South Africa as well as many international buyers from Northern Europe and also sub-Saharan Africa, and including SA expats who represent one of the largest groups of buyers on the Atlantic Seaboard and in the City Bowl.

“Although buyers are acquiring properties for a variety of reasons, there appears to be an overriding and perhaps even overwhelming desire across the board to secure a foothold in this market. These range from investment properties – given that Cape Town continues to outperform other major metro housing markets by a wide margin, with house price inflation rising by +6.9% in June, retirement and leisure properties – including pieds-à-terre for upcountry purchasers looking to secure a residence for children attending university, or properties for international buyers seeking a bolthole on the Atlantic Seaboard or in the City Bowl,” says Moriatis.

Standout sales by Pam Golding Properties in the City Bowl include a luxury penthouse which underscores the desirability of the area. This comprises a four-bedroom, 367sqm penthouse in The Quarry Estate in Higgovale, purchased by an expat for R30.8 million (including VAT) with sweeping views over the city.

Moraitis adds, however, that entry-level apartments in the city start from R1.65 million for a 30sqm studio, with a one-bedroom apartment starting from a minimum of around R2.3 million and a two-bedroom from approximately R2.6 million upwards.

In Mama Shelter Residences Cape Town, an exciting redevelopment of the former City Park hospital building in vibrant Bree Street, in the heart of the city, 62 branded residents are selling through Pam Golding Properties starting from R2.9 million for a studio and ranging up to R23.3 million for the ultimate three-bedroom Grand Mama Penthouse with unparalleled views of Table Mountain and the Atlantic Ocean.

Recent notable, mid-range sales through Pam Golding Properties on the Atlantic Seaboard include residences sold in Fresnaye for R34.5 million to a local buyer, and R32 million in Camps Bay to a Johannesburg purchaser. Says Moraitis: “According to PropStats, since January to the end of July, on the V&A Waterfront – which includes the Silo District, there have been 26 sales to a total value of R491 million, with a significant number of sales during H1 2025 at full asking price. Prices currently being achieved are just 7.6% off asking price, which is a significant narrowing of the differential – which is usually approximately 10-15%.”

In the Marina a one-bedroom apartment sells for around R8.75 million, two-bedrooms achieve R13 million – R30 million, while three-bedrooms and penthouses sell for in excess of R40 million.

For further information visit www.pamgolding.co.za

Posted by The Know - Pam Golding Properties