Clifton property continues to set and break price records with impunity, bucking the property trend the world over. In most areas of the planet, the property sector has effectively imploded, but real estate in this suburb, one of the most exclusive in Cape Town, continues to grow exponentially in value; a rare gift indeed for the struggling investor.
There are a number of very good reasons to buy property anywhere along the Atlantic Seaboard, an area often likened to the grandeur of the French Riviera, but Clifton is undoubtedly the first choice of many.
Luxurious villas stand cheek to jowl with clapboard beach bungalows but each of these prime properties can demand astronomical returns. Even in the depths of a global recession, buyers are only too happy to reach deep into their pockets for the privilege of living at this premier beach location in Africa.
Clifton property will always be an outstanding investment simply because of the remarkably high rentals the area commands. A three-bedroom, 2 bathroom apartment with a pool is going for R50, 000 per month, whereas a one-bedroom pad is up for grabs at R16, 500.
Clifton is located between Bantry Bay and Camps Bay and is a quick 10-minute drive away from the commercial centre of the city. The suburb is spread across four small coves - the four famous beaches of Clifton - and real estate fits snugly along the slopes of the mountain.
Apart from the obvious advantages of living within strolling distance of the Atlantic Ocean, Clifton has one huge benefit and that is protection from the summer winds. In the height of summer, the peninsula is cooled by the infamous south-easter wind, colloquially known as "The Cape Doctor", but it sometimes becomes a veritable gale that can be most unpleasant.
Clifton and parts of Camps Bay and Bantry Bay are protected by Lion's Head and the balmy evenings alone are enough to attract the biggest of spenders.
Unlike some of the other areas of the Atlantic Seaboard, Clifton does not have any shops, restaurants, schools or other retail outlets to talk of - it is an exclusively residential area. The area is, consequently, chiefly for the residents to enjoy but necessary retail outlets and decent schools are within easy range of the suburb.
Investors who are considering purchasing prime property in Clifton will be delighted to know that there is a wide range of real estate available, ranging from R50 million for the complete family villa to R9 million for a well-appointed apartment with outstanding sea views.
Our dedicated Atlantic Seaboard estate agency will have the lion's share of these most sought after properties in Africa today