R10 million Cape Town townhouse listing goes viral [video]

A R10,5 million listing for a property on the outskirts of Sea Point has gone viral. For many South Africans, the price tag is more proof of the city’s overpriced property market

CAPE TOWN PROPERTY LISING GOES VIRAL

On her social media accounts, Pasha Dos Santos, a luxury real estate agent  of 

Pasha Property Global shared a look inside her latest listing – a fully–furnished townhouse located on the outskirts of Sea Point and Green Point.

Pasha described the three-bedroom Victorian-style home as “the best of both worlds” in reference to its location

She revealed the property was currently operating as an Airbnb with a “4,89 star rating”.

In the comments section, South Africans unanimously agreed that the house was “overpriced” and would sell for much less in other parts of the city.

“This is satire, right?” commented a social media user, while another added, “Not even worth two million”.

A third shared: “We South Africans are not the target market”

Pasha liked a comment saying that real estate agents get the “flak” for “embarrassing” Cape Town property listings.

@pashapropertyglobal What do you think of this semi-detached Victorian home in Atlantic Seaboard?🏡🔑 Just listed – https://www.property24.com/for-sale/sea-point/cape-town/western-cape/11021/117700587 🇿🇦 R10,500,000 🇺🇸 ±US$600,000 🇬🇧 ±£450,000 🇪🇺 ±€515,000 🇦🇪 ±AED 2,200,000 🇦🇺 ±A$925,000 📧 pasha@lancerealestate.co #housetour #propertyforsale #modernliving #capetown #viralvideos ♬ Less than 30 minutes: Video: Fashionable: Lo-fi(1073046) – milk

WHY IS IT SO EXPENSIVE?

Residential areas like Sea Point, Camps Bay, Clifton, and Green Point, ie on the Atlantic Seaboard, have seen a rapid rise in property values.

This can be attributed to the city’s gentrification, where in-demand real estate replaces and displaces lower-income, and typically non-white communities.

With the influence of foreign investors and digital nomads, living in Cape Town can cost a fortune.

According to Cape Business News, Sea Point, in particular, is an in-demand location for many South Africans and tourists, thanks to its proximity to both the beach and mountains.

The African Investor reported: “The type of people attracted to Sea Point is quite diverse. It appeals to young professionals, international expatriates, and retirees alike.

“The area’s cosmopolitan nature, combined with its accessibility to Cape Town’s business district, makes it ideal for those working in the city but wishing to live by the sea.

“Furthermore, its safety, amenities, and quality of life are factors that attract a more affluent demographic.”

Apart from serving as a residential area, the area is also home to retail, restaurants, and service facilities.