Mansion shopping?

Yeah, me neither. Who has the time?

But if you where mansion shopping, you’d want to check out these properties in Cape Town and Jozi to get an idea of the market.

You should also look out for auctions, like the one that happened in November last year, overseen by High Street Auctions.

Get ready to drop some serious cash, though, because the property on offer, Villa Royale, became the most expensive residential property auctioned in South Africa last year

It was sold to the highest bidder for R38 million, with this below from BusinessTech:

“More than half a dozen interested parties pre-registered to bid on Villa Royale and initially bidding was fierce from all quarters, but eventually it boiled down to a war between two bidders,” said High Street Lead Auctioneer and director, Joff van Reenen.

“Bidding opened at a fairly staggering R25 million and went upwards from there very quickly.”

Villa Royale, which was run as an ultra-exclusive boutique hotel, was sold by way of an order of court at the final HSA auction of 2018 at Summer Place in Hyde Park on November 29.

The property was formerly owned by Zimbabwean tycoon James Makamba.

“The manor boasts five luxury suites, immaculate landscaped grounds and lounge areas for formal and informal dining. The public rooms include a wine cellar, state of the art gym, 13-seater cinema with reclining leather armchairs, a cigar lounge, a spa and a games room.”

The  mansion is approximately 1,650 sqm in size set in expansive grounds of nearly 2,300m sqm.

According to a report released in 2018 by AfrAsia Bank and New World Wealth, of the 2,200 multi-dollar-millionaires in South Africa, 120 reside in Sandhurst.

The report noted that Sandhurst ties for third place in South Africa (with Clifton in Cape Town) for the number of “trophy homes” it boasts. Trophy homes are defined as costing more than R20 million and there are 110 such mansions in Sandhurst.

High Street Auctions is making a name for itself as the people to go to if you want to sell a luxury property.

“Among those last year we also sold the castles at Noetzie that had been on the market for several years through traditional brokers. The sale price was R29.483 million.

Another trophy property that lingered on the market for some time before being auctioned by High Street was an estate in Monterey Drive, Constantia, that went for R24.075 million.

Is it just me or does ‘trophy property’ sound like something you get when you’ve launched your rap career?

Let’s ask Elon Musk…

[source:businesstech]