Get the lifestyle of the rich and famous … for just R140m

One of the most expensive apartments in the country is up for grabs in the exclusive Cape Town suburb of Clifton.

If the R140-million four-bedroom property goes for the asking price‚ it will become the country’s second most expensive apartment‚ after a R198-million property — also in Clifton — bought last year by businessman Eric Samson.

Basil Moraitis‚ Pam Golding Properties’ area manager for the Atlantic Seaboard‚ said the apartment was the most expensive the company had marketed.

The property is described as a “grand and unique double-volume apartment in Clifton with spectacular frontage at the water’s edge”.

It features a “large sparkling pool surrounded by expansive entertainment decks leading onto a lawned garden with direct access to Moses Beach”.

The ad for the property adds: “Magnificent open-plan living areas flow to a large kitchen with a morning breakfast terrace‚ all with spectacular views of the entire Clifton bay and the Twelve Apostle mountain range. Two large en-suite front-facing bedrooms downstairs‚ with another two bedrooms and two bathrooms upstairs‚ all leading to open sun terraces.”

There are six parking bays‚ a private lift and “an additional lounge and small kitchen upstairs with a separate entrance”.

Property economist Erwin Rode said the fact that agents felt confident enough to attach huge price tags to such properties was a vote of confidence in the Cape Town economy.

However‚ it was difficult to predict if such prices could be sustained‚ as they were also determined by the performance of the country as a whole.

“[If] South Africa goes to junk status and the economy does poorly for the next few years‚ the question is to what degree can the Cape Town economy swim against that trend? There are no guarantees‚” he said.

- TMG Digital/The Times