The Waterfront Property Insider
BY Paul Levy & Gisela Spingies
Well-established and trusted agents of choice, Paul Levy & Gisela Spingies.
We specialise, area-specific, on only The Waterfront and Mouille Point with a combined industry-experience of over 40 years.
A glimpse at the market
The Waterfront
A total of 18 confirmed sales were recorded between Jan-May 2024, compared to 13 during the same period last year.
The average selling price in the Waterfront Marina thus far this year is R16.6 million –a 24.5% increase on the same period last year.
The highest selling price this year so far has been just over R50 million for a penthouse on the yacht basin, and R15.6 million for a two-bedroom on the canal.
A glimpse at the market
The Waterfront Silo Residential
The average selling price for the two Silo apartments transferred thus far this year is R10 million – an increase of 17.6% compared to the same period last year.
A glimpse at the market
The Waterfront
PRICE PER SQM:
Year to date, the sales price per square metre has averaged R93 844/sqm – an increase of 15.2% compared to last year.
The highest rate p/sqm on the yacht basin has been just over R159 000, and on the canal, R104 000.
TIME ON THE MARKET:
In terms of time on the market, in 2023 the average time on the market was approximately 110 days.
ASKING VS SOLD PRICE:
Year to date, sales prices were an average 8.2% below listing price compared to 6.9% during the same period last year.
BUYER PROFILE
Of the 18 sales recorded thus far this year, six properties were sold to foreign buyers while the balance were sales to South Africans living in the Western Cape.
Of the 13 sales recorded during the same period last year, only one property was sold to a foreign buyer while all other homebuyers were local based in the Western Cape.
News for Waterfront Marina Residents
The estate’s brilliantly positioned gym is getting a full upgrade which is currently underway.
A significant expansion as well as all brand new equipment. This will be a world-class gym facility - befitting such a prestigious residential estate.
Completion is expected mid August 2024 or sooner.
The
Waterfront
• R47.5 MILLION
3 BEDROOMS | 3.5 BATHROOMS | 3 PARKING BAYS
Bringing together luxury living and a yachting lifestyle.
Ultimate penthouse living in vast proportions – both interior and exterior. When only the finest will suffice, then this is the one. This penthouse enjoyed a major makeover approximately 8 years ago. Huge entertainment exterior deck with private swimming pool and astounding canal and front yacht club vibrant, dynamic views.
