They always get you with the service fees, sneaky buggers.
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R440m will get you this fixer-upper
- Thread starter Grant
- Start date
They always get you with the service fees, sneaky buggers.
L
Leonidas
Guest
It looks like it has a pool, but the question is ... does it have a FIREPOOL and a CHICKEN COOP?
Why South Africa's most expensive home costs R450 million
Justifying the hefty price tag of $35m (about R450m) for South Africa’s most expensive single family home, Lew Geffen of Sotheby’s International Realty in SA, said the Camps Bay property would be as at home in Beverley Hills as it would be on the French Riviera.
"It is in fact superior to most homes one would find in those locations," he told Fin24 on Wednesday.
Geffen said with the ongoing weakness of the rand, the luxury band of the Cape Town property market had been moving in the direction of international currency values for some time now.
Also, because the city is one of the world's most desirable destinations to both visit and own property, houses in the top price bands were increasingly being valued according to the merits of the property itself compared with a similar property in an equally desirable global destination, rather than average surrounding land values.
“Casablanca in Camps Bay is one of those properties and we need to compare apples with apples, ie not looking at the property in terms of land value and what’s available down the road on an erf of the same size, but how this house compares to similar properties around the world.
“There are very few private city residences in the world in which one could comfortably entertain 1 000 people, or host a formal dinner in the dining room for 48 people," he said of the home Sotheby’s describes as "designed and built for an international mogul who enjoys lavish entertaining on a grand scale".
The house boasts among others an 18-seater private cinema, a full-size squash court, a massage therapy room, 13 bathrooms, a 14-car garage and a 12-seater sauna, all with staggering views over Camps Bay beach.
Priced at about $1 000 (R12 760) per square metre, Geffen said the market would ultimately dictate whether this price was sound.
The luxury properties are marketed exclusively to ultra-high net worth individuals across the world rather than locally, he said.
Other listed properties more or less in the same league as the Camps Bay home are a beachfront estate in the Bahamas at $36m and a chateau in California for $34.5m.
Fin24 - http://www.fin24.com/Companies/Property/Why-SAs-most-expensive-home-costs-R450m-20150813
Justifying the hefty price tag of $35m (about R450m) for South Africa’s most expensive single family home, Lew Geffen of Sotheby’s International Realty in SA, said the Camps Bay property would be as at home in Beverley Hills as it would be on the French Riviera.
"It is in fact superior to most homes one would find in those locations," he told Fin24 on Wednesday.
Geffen said with the ongoing weakness of the rand, the luxury band of the Cape Town property market had been moving in the direction of international currency values for some time now.
Also, because the city is one of the world's most desirable destinations to both visit and own property, houses in the top price bands were increasingly being valued according to the merits of the property itself compared with a similar property in an equally desirable global destination, rather than average surrounding land values.
“Casablanca in Camps Bay is one of those properties and we need to compare apples with apples, ie not looking at the property in terms of land value and what’s available down the road on an erf of the same size, but how this house compares to similar properties around the world.
“There are very few private city residences in the world in which one could comfortably entertain 1 000 people, or host a formal dinner in the dining room for 48 people," he said of the home Sotheby’s describes as "designed and built for an international mogul who enjoys lavish entertaining on a grand scale".
The house boasts among others an 18-seater private cinema, a full-size squash court, a massage therapy room, 13 bathrooms, a 14-car garage and a 12-seater sauna, all with staggering views over Camps Bay beach.
Priced at about $1 000 (R12 760) per square metre, Geffen said the market would ultimately dictate whether this price was sound.
The luxury properties are marketed exclusively to ultra-high net worth individuals across the world rather than locally, he said.
Other listed properties more or less in the same league as the Camps Bay home are a beachfront estate in the Bahamas at $36m and a chateau in California for $34.5m.
Fin24 - http://www.fin24.com/Companies/Property/Why-SAs-most-expensive-home-costs-R450m-20150813
Solitude
Executive Member
It's ideal for Zuma.
It's got an 18-seater panic room with a screen so that you can monitor the outside world. A squash court to make sure the security personnel are fit. A massage therapy room which is very important to make sure that Zuma can unwind from the stress of running a country so that he doesn't get a heart attack etc.
Someone else can finish it, I got to start working.
It's got an 18-seater panic room with a screen so that you can monitor the outside world. A squash court to make sure the security personnel are fit. A massage therapy room which is very important to make sure that Zuma can unwind from the stress of running a country so that he doesn't get a heart attack etc.
Someone else can finish it, I got to start working.
I wouldn't be surprised if they get around the R300m mark
I cant think of a single whisky that is even remotely close. It can get you a very nice villa though
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Leonidas
Guest
Drifter
Honorary Master
Really really not for me.
The_Unbeliever
Honorary Master
Too big.
The_MAC
Honorary Master
Yeah, my little home will cost in excess of 10Mil compared to the crappy little apartments in London
ToxicBunny
Oi! Leave me out of this...
Ummm thats a street view shot from 2013...
Oh well
Someone go take a photo, rather interested in how they "fixed" the uneven levels.
SauRoNZA
Honorary Master
I'm thinking why would you bother owning it at all for that money?
It essentially looks and feels like a hotel to me...so why not just live in the hotel when coming to visit Cape Town?
Even the most luxurious hotels in Cape Town are still cheaper and probably offer more.
It essentially looks and feels like a hotel to me...so why not just live in the hotel when coming to visit Cape Town?
Even the most luxurious hotels in Cape Town are still cheaper and probably offer more.
You have to take into account that there are some really, really rich people in the world. To them, that price won't break them, heck they might see it as an investment opportunity to sell later. Also, don't underestimate prestige factor - "I bought and own one of the most expensive houses in....".
WaxLyrical
Honorary Master
Delete this damn thread.
Zuma will want to upgrade the hut he built to this.
Zuma will want to upgrade the hut he built to this.
R12k per square meter can't possibly be right
EDIT : Although, Camps Bay isn't that pricey a suburb
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