Wind-sheltered Fresnaye, a coveted Atlantic Seaboard enclave, has seen house prices soar 74% in five years.
Source: Supplied. This luxury penthouse with a private pool, and uninterrupted ocean and mountain views from every room, located in Ave Des Huguenots was recently sold for R32.5m by Jo Lombard from Seeff Properties, achieving the highest price for an apartment in the suburb this year.
Nestled on Lion’s Head slopes, the suburb offers French-Riviera charm, palm-lined avenues, and exceptional ocean and mountain views across family homes, apartments and luxury retreats today.
Villas in the suburb have sold this year for up to R69m and a penthouse for up to R32.5m.
The average price is up by a phenomenal 74% over the last five years. Just over half of all freehold houses have sold this year for over R20m. The total value of sales at R753.6m (from 45 units) for this year (to early November) already exceeds the total value for 2024 of R638m (from 51 units).
Levin says this is reflective of a general uptick in activity across the Atlantic Seaboard over the last few years.
Prime coastal prestige
Although a small suburb, Fresnaye occupies one of the best locations on the continent. Fresnaye frequently ranks as one of the best places to live and holiday in. It offers quick and easy access to the amenities and attractions of the Atlantic Seaboard and City Bowl, from retail and restaurants to leisure and the sought-after beaches.
Access to excellent schools makes it a top choice with family buyers. Some of the most desired streets in the country, offering some of the best views are located here such as Ave Alexandra, Ave Fresnaye, Head Road, Kloof Road, and Top Road.
Levin says the suburb consequently attracts high demand and premium prices, making it one of the most affluent suburbs as buyers compete for the most sought-after addresses in the country.
There is an approximate 50/50 split between freehold and sectional-title properties. The overall average selling price this year stands at around R16.7m putting it among the top in the country.
Propstats data, however, shows that the average price for freehold houses is actually higher, and well above this at R21.9m. Just over half of all freehold sales (16 sales) this year have sold for upwards of R20m to a highest price of R69m for a luxury villa in Head Road sold in October by Seeff’s luxury market specialist, Jo Lombard.
About half of all the sales in the suburb were sectional-title properties which sold at an average price of R10.8m. The sought-after high-end apartments and penthouses, however, tend to achieve much higher prices.
Jo Lombard for example sold three such properties over the last three years, each achieving the highest price for an apartment, being R30.5m (Ave Des Huguenots) in 2023, and R33.5m (Ocean View Drive) in 2024, these all being some of the highest prices paid for apartments in the country.
Seaboard luxury soars
The most recent sale of a spacious penthouse with a private pool, and uninterrupted ocean and mountain views from every room, located in Ave Des Huguenots achieved another highest price of R32.5m for the year. Jo says the property was purchased by a local buyer who had been renting in Camps Bay, and intends using it as their primary residence.
The Atlantic Seaboard is arguably the most valuable residential belt on the continent. Everybody who visits Cape Town tends to frequent the area, and it ranks as one of the most desired areas to live and invest in, says Jo. It therefore offers a compelling investment case with transaction data showing strong capital retention and growth as illustrated by this year’s sales data.
