It was a little over a year ago when it was announced that Clifton’s Nettleton Road took the top spot as the most expensive street in South Africa.

You can check out that 2016 list of top 20 roads here.

Well, it didn’t take long for Nettleton Road to drop a few places, and make way for other streets and developments.

First up on the 2017 list is The Ridge and Cliff Road in Clifton, sitting pretty at R96 000/m² for those magnificent close-ups of the Atlantic:

Yum.

They are followed by the V&A Marina development (R90 000/m²) in Dock Road in the central Cape Town, reports Fin24.

This information comes as a result of market research done by New World Wealth, who “analysed data as part of its annual South Africa Wealth Report to determine the most exclusive suburbs, streets and developments in the country”:

New World Wealth used two different measures to make the determination of the most exclusive suburbs as of the third quarter of 2017.

The first option used was to look at the price per square metre.

According to Andrew Amoils, head of research at New World Wealth, this is internationally considered to be the best option to use. He points out, however, that this measure has some limitations, especially when it comes to evaluating houses.

“There is a bit of a lack of information about square metre stats in SA. The way property price growth is calculated on the average price in an area is not great,” Amoils told Fin24.

“If a big house is sold, then it just pushes the price up in an area. We also highlight issues when it comes to areas without apartments as square metre stats don’t work well on houses.”

In his view, price per square meter stats only work really well on apartments and some areas don’t have many apartments which makes it tricky.

“This is due to the garden element. For instance, how do you value the garden?” he explained.

The second option used was to determine the number of R20m homes in an area.

According to Amoils, this allows one to see how many very wealthy people are living in an area. He again points out that this measure can be deceiving as areas that are mainly large houses – such as Sandhurst, Plettenberg Bay and Bishopscourt – tend to outperform areas that are mainly apartments – such as Umhlanga. It is because very few apartments are large enough to cost over R20m.

Here’s the rest of the list:

Next up are the Clifton streets of Victoria Road (R88 000/m²), Nettleton Road (R86 000/m²), Clifton Road (R84 000/m²) and Kloof Road (R83 000/m²).

There she is, dropping to fourth place. Then:

The 7th to 10th places go to the Bantry Bay streets of Ave St Leon (R78 000/m²), De Wet Road (R76 000/m²), Ave Marina (R76 000/m²) and Ocean View Drive (R75 000/m²).

And that’s just Cape Town. Here’s the rest of the country:

The most expensive streets and developments outside Cape Town is topped by the Michael Angelo and Raphael Suits developments in Sandton (R45 000/m²).

Next up is Beachyhead Road in Plettenberg Bay (R42 000/m²), followed by the Sandton developments of Melrose Arch (R36 000/m²) and The Houghton (R36 000/m²).

The 5th place goes to Lagoon Drive in Umhlanga Rocks, Durban (R35 000/m²).

And there you have it.

[source:fin24]