What attracts buyers to Bantry Bay?
When prevailing winds lash the Atlantic coastline, residents of Bantry Bay never seem to notice. “Shoehorned” in between the slopes of Lion’s Head and the rocky coastline, their enclave enjoys 290 wind-free days annually. Secluded and protected, north-facing, with uninterrupted sea views and easy access to the city makes this the obvious choice for affluent purchasers both locally and internationally. Freestanding mansions with panoramic views line the upper reaches of the suburb, while on the lower slopes and beachfront a mix of older (more affordable) homes and luxury sectional title apartments abound. Prices range from R12m to R15m up to a stratospheric mansion recently peaking at R290m.
Who is buying property in the area?
Bantry Bay is nestled between Sea Point and Clifton, two polar opposite enclaves of Cape Town, the first bustling with an everyday local community and the other attracting a more transient seasonal dweller and having a more international demographic. Bantry Bay is a combination of these two areas but in recent years has certainly become more international, attracting wealthy buyers who are seeking out the ultimate holiday home. Additionally, the growing trend of Johannesburg buyers wanting to spend more time in Cape Town over long weekends and commuting back to Johannesburg for work is increasing the demand for quality stock in Bantry Bay.
Gert Loubser: Property consultant, Knight Frank
What types of properties are available and what can buyers expect to pay?
Bantry Bay has seen extensive development during the past decade and sectional-title properties now make up around 80% of the property landscape. Prices start at around R3m for a two-bedroom apartment in an older block, while modern two- or three-bedroom apartments are priced between R6m and R8m depending on location. Houses in this enclave are extremely sought-after, with mid-market family homes with three to four bedrooms in need of renovation selling for between R14m and R18m. Bantry Bay also has its share of trophy homes priced between R20m and R100m which offer the ultimate in modern living with the best wind-free position and panoramic views.
This article originally appeared in Neighbourhood, Sunday Times.
Take a beautiful journey through the Atlantic Seaboard here: