Let’s take a look at how the 1% live, shall we?

Property in Fresnaye has never come cheap, but the area has seen a massive increase in selling price over the last four years or so.

Take for example the average full title property selling price – in 2012 that was R7,2 million, whereas the price last year was R14,9 million.

If the latest mansion listed finds a buyer, asking price R185 million, you can expect that figure to increase healthily.

BusinessTech with some details:

[Seef] has just listed a 3,247sqm estate with the original and first manor house in Fresnaye for a record price of R185 million.

The property boasts fireplaces throughout, underfloor heating, a gymnasium, and large swimming pool.

There are five bedroom suites in the main house. There is also a guest cottage with two bedroom suites and a living area and kitchen with a private terrace and swimming pool.

Additional features include staff accommodation and garaging as well as top class security and a guardhouse.

A few more pics to attempt to justify the price tag:

That’s pretty decent living, and I’m willing to bet whoever snaps it up won’t be all that bothered by the City of Cape Town’s extra electricity costs all that much (HERE).

Still, it seems a touch excessive.

[source:businesstech]