Take a look inside: This apartment was sold for R59 million - it may be the priciest deal in SA this year
- In a weak residential property market, there were a couple of big-hitter deals.
- Pam Golding sold an apartment in Fresnaye, Cape Town for R59 million - which may be the most expensive residential deal this year.
- A house in Bishopscourt was also sold for R47.5 million says research group Lightstone Property.
- For more stories, go to Business Insider's home page.
2019 wasn’t a great year for residential property. According to the latest data from the property information and research group Lightstone Property, house prices across the country rose by only 2.9% in the year to end October.
This is the weakest performance in many years. Five years ago, house prices rose by more than double that, with Cape Town prices easily topping 10% a year, for a number of years, until 2017.
Still, there were a couple of big-hitter transactions.
Lightstone lists a sale of a R47.5 million house at 35 Bishopscourt Drive in Bishopscourt as the highest residential sale in the country this year.
But the estate agent Pam Golding says it recently sold an apartment in Fresnaye, Cape Town for R59 million, which may not be reflected in the data yet.
The new-build apartment of 700m2 in the Arcadia development has not been completed yet, but here are some artist impressions:
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