In one of the most significant residential property transactions in recent years, two vacant plots on Cape Town’s prestigious Nettleton Road in Clifton have been sold for a staggering R170 million.
The combined 2,700 square metre parcel was snapped up by a multinational buyer, facilitated by luxury property expert Annette Hepburn of Pam Golding Properties. The sale ranks among the highest prices ever paid for undeveloped residential land in South Africa.
“This is one of the last remaining vacant sites on this road, where listings are rare and land is almost never available,” said Hepburn. “It’s a unique opportunity in one of South Africa’s most tightly held property markets.”
Nettleton Road: South Africa’s Most Exclusive Address
Perched above Clifton’s iconic four beaches, Nettleton Road is renowned for its panoramic views of the Atlantic Ocean and the Twelve Apostles mountain range. Lined with architect-designed mansions, many owned by international billionaires and business leaders, it is regarded as South Africa’s most elite residential street.
Despite existing approvals for nine luxury apartments, the buyer reportedly intends to build a single ultra-luxurious “trophy home” on the combined plots, further cementing the road’s reputation for one-of-a-kind real estate.
“This location offers a lifestyle that’s unmatched – combining privacy, exclusivity, dramatic views, and proximity to the best of Cape Town,” Hepburn added.
Surging Prices in Clifton’s Luxury Market
The landmark sale comes amid soaring property prices in Clifton. As of 2025, the median residential sale price in the area reached R34 million, reflecting a 29% year-on-year increase and a 136% rise over the past decade.
So far this year, 18 property transactions have been recorded in Clifton, surpassing pre-pandemic activity levels and confirming the suburb’s enduring appeal to high-net-worth investors.
While Cape Town’s Atlantic Seaboard has long been a magnet for luxury buyers, this sale highlights not only the high demand for exclusive locations but also the extreme scarcity of vacant land in these sought-after areas.
Industry experts say as developers and private buyers increasingly compete for prime property, record-breaking transactions like this will likely become more frequent.
