Camps Bay: A Thriving Cape Town Suburb Attracting Global Investment

Camps Bay has solidified its reputation as one of Cape Town’s most desirable suburbs, known for its allure to movie stars, as a haven for holiday homes owned by the wealthy and famous, and as a beloved summer destination for locals. With its award-winning beaches and prime location, it has become an enticing prospect for buyers from all over the world.

As the supply of homes for sale decreases, astute investors are seizing the opportunity to acquire properties in Camps Bay, anticipating a price increase. While the majority of local buyers come from other provinces as part of the influx of migrants to the Western Cape, foreign investors are also drawn to Camps Bay. They are drawn to it because of its prime location, luxurious properties, and excellent value for money in comparison to comparable real estate options in other countries.

Foreign investment in Camps Bay had a significant impact in the early months of 2023. In January, four properties totaling R54,900,000 were purchased by foreigners. Foreign investment increased to R90,850,000 the following month, and in March, two buyers—one from Germany and one from the Netherlands—invested an additional R62,350,000 in the area.

“So far, sales figures for 2023 indicate that demand for the Atlantic Seaboard, particularly suburbs like Camps Bay, is expected to remain strong.” According to Andi Ashton, an area expert and sales agent for Dogon Camps Bay, “the increasing migration trend and ongoing foreign investment are fueling another highly successful year.” “The property market in this picturesque suburb continues to trend upward, with housing prices rising despite a scarcity of available properties.” Looking ahead to the first half of 2023, sales are looking promising, while available stock is shrinking.”

According to the Africa Wealth Report 2023, over 40% of South Africa’s million-dollar homes are located in Cape Town’s “Prime 7” suburbs, which include Camps Bay as well as other Atlantic Seaboard suburbs such as Bantry Bay, Clifton, and Llandudno.

A look at Dogon’s current Camp Bay listings confirms this trend. A magnificent 5-bedroom, 5.5-bathroom home priced at R100 million is one standout property on the market. This luxury architectural masterpiece, located on two plots with a spacious landscaped garden bordered by a green belt, boasts features and views that match its price tag. Private decks and balconies, a jacuzzi, a swimming pool, a wine cellar, a gym with a sauna, solar energy capabilities, a borehole, staff accommodations, and more are among its notable features.

Buyers can secure a 4-bedroom double-story townhouse in Camps Bay for R18.5 million, which features generous-sized living rooms and stunning ocean views through expansive floor-to-ceiling sliding glass doors that open onto an outdoor patio and swimming pool. A second kitchen, an extra lounge, and a large garden with a second patio are also included.

“While prices in Camps Bay are undeniably high, demand for reasonably priced properties is equally strong, and available options in the area are limited.” “Right now, it’s a case of’snooze and loses,'” advises Ashton, who emphasizes that the real estate boom is not limited to Camps Bay. The rest of the Atlantic Coast continues to see strong buyer demand, implying another prosperous year ahead.

According to Horne, if you are thinking about selling your home, now is a good time because there is a high demand from buyers and limited available stock, allowing you to get top dollar for your home. If you are thinking about buying, you should do so sooner rather than later. Asking prices are rising, available stock is dwindling, and Camps Bay and the Atlantic Seaboard will undoubtedly remain popular in the long run.