We recently met with Jo Lombard, our luxury property specialist, to talk about current market conditions in the top-end, Jo’s approach to marketing and selling luxury properties, and Tyson’s mission to transform the industry.
Luxury market update
After many years of double digit growth, the Cape Town luxury property market is currently experiencing a cyclical cooling-off period. The latest property data from the deeds office for Clifton, sectional title, indicates a significant reduction in number of sales (45%) and total spend (58.4%), compared to the same period in 2018.
The change in market conditions; lowering of demand and consequent increase in supply, has shifted the dynamic in favour of the buyer, who is now in a considerably stronger position to negotiate more favourable terms. Now is the perfect time for savvy investors to add a luxury property to their portfolio.
The luxury market operates differently
Owners of high-end properties are often very private and discreet and typically insist that their property is marketed in a very exclusive manner. Sellers sometimes don’t want their property featured in mainstream online channels such as Property24, on agency websites, social media platforms or in print media.
For a motivated buyer, this exclusive, off-the-radar approach to selling luxury property is a big hurdle. That’s why it is imperative to align yourself with the right property specialist; a seasoned professional that has intimate knowledge of the area and access to all the best kept secrets.
Top-end homes are often owned by high profile individuals, who choose an agent based on the extensiveness of their network and pool of high-end buyers, and importantly their ability to broker substantial deals. The right agent will be highly respected; with credibility that has been built up with these discriminating sellers based on tangible results.
We are on a mission
The Cape Town luxury property market may have cooled down, but it certainly has not lost its charm. Jo recently concluded the sale of a prime-positioned R50 million luxury home in Clifton.
R50 million luxury home in Clifton, sold by Jo.
Jo’s recent video showcases a R59 million luxury home in Fresnaye; an example of how we are raising the bar and helping to innovate in the industry.
Property details:
- Fresnaye
- R59,000,000
- 5 Bedrooms
- 5 Bathrooms
- 2 Garages
- 629 sqm
Newly renovated to the highest standard possible, with design and craftsmanship that’s truly exceptional.
No expense was spared in the creation of this luxury home.
The outside entertainment area offers a level garden, an infinity pool and one of the best views Cape Town has to offer.
On the third and final level, an entire floor is dedicated to a games room.
Gymnasium
Temperature controlled wine cellar.
Japanese themed massage room.
Jo Lombard
083 281 2732
