Foreign buyer snaps up R48 million Cape Town home without ever seeing it
· The South African
A foreign buyer has purchased a luxury Cape Town home in Constantia for its full R48 million asking price without ever viewing the property in person, underscoring the extraordinary demand currently driving Cape Town’s high-end residential market.
The sale, revealed by Pam Golding Properties, is one of the latest examples of international buyers competing aggressively for prime Cape Town real estate as stock shortages intensify across the city.
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Cape Town’s luxury property market is so hot, buyers are skipping viewings
According to Dr Andrew Golding, chief executive of the Pam Golding Property group, Cape Town’s luxury housing market continues to defy traditional seasonal patterns.
“Cape Town’s luxury residential property market continues to outperform seasonal expectations, with high-end homes across the Atlantic Seaboard, City Bowl and Southern Suburbs attracting sustained demand despite the usual winter slowdown,” said Golding.
“What began as a post-pandemic shift in buyer behaviour has evolved into a prolonged high-demand trend, characterised by severe stock shortages, strong local as well as international interest and increasingly competitive bidding for prime, high-end properties.” Golding said.
Golding noted that well-located homes often sell within days of listing, with multiple buyers competing for the same properties and some homes achieving prices above asking.
The R48 million Constantia transaction is a striking example of this trend.
Basil Moraitis, regional head for Pam Golding Properties in the Western Cape, said the purchase highlights the confidence international buyers have in Cape Town’s luxury market.
“The strength of demand and robust confidence in Cape Town’s residential market was underscored recently when we sold a Constantia home for its full R48 million asking price to an international buyer who purchased the property sight unseen,” he said.
International interest continues to grow
The transaction reflects a growing trend among affluent foreign buyers who are increasingly comfortable making multimillion-rand purchases remotely.
Data also shows that European buyers remain particularly active, while interest from the United States is also growing rapidly.
The attraction lies in Cape Town’s combination of lifestyle, scenery, world-class amenities and relative value compared with major international cities.
Properties in sought-after areas such as Constantia, Bishopscourt, Clifton and Camps Bay often offer significantly more space and privacy than similarly priced homes in global luxury markets such as London, New York or Sydney.
Industry experts say favourable exchange rates have also strengthened the appeal of South African property among foreign buyers.
Meanwhile, stock shortages continue to place upward pressure on prices.
In both Constantia and Bishopscourt, quality homes frequently sell before they are publicly listed, while buyers increasingly have to compete through cash offers and quick transactions.
With winter now becoming more a period of reduced supply than reduced demand, property specialists expect competition for premium homes to remain intense for the remainder of 2026.