Which is the better investment: a presidential compound with a fire pool, or a four-bedroom home with an infinity pool? In Fresnaye on Cape Town's Atlantic seaboard is a house with a price tag of R200-million - and its only rival in terms of price are the upgrades to President Jacob Zuma's Nkandla compound, which are estimated to have cost R246-million.The Fresnaye mansion is one of the most expensive properties on the market in South Africa and the well-heeled are willing to pay cash for it.It is in a sought-after part of the country, has an olive grove suspended on a deck, private cinemas and bespoke water features. But it is smaller than Nkandla and lacks a spaza shop, chicken run and cattle kraal.Pam Golding Properties Atlantic Seaboard manager Basil Moraitis said the mansion was built for a "high-profile local celebrity and businessman" 12 years ago.story_article_left1Gail Gavrill of international property consultancy Knight Frank said she had never dealt with a client in need of a bond. "If finance was required this would simply be arranged directly via their personal finance providers."Several homes in the Western Cape are on the market for more than R100-million - including a six-bedroom house in Clifton for R139-million.Denise Dogon, CEO of Dogon Group Properties, said: "The lower four levels of the property are from the original house and totally refurbished. The upper three levels are all new and were completed in 2011." The addition was designed by award-winning architect Stefan Antoni.Many Cape Town estate agents have seen an increase in the number of wealthy buyers from Africa and the Middle East.Pam Golding Properties agent Louis Green said: "The address, security, accommodation and style are the most important features - in that order - that buyers look for."Most buyers wanted more modern homes with all bedrooms on one level and secure upstairs, Green said.Lew Geffen Sotheby's International Realty chairman Lew Geffen said the elite often preferred their homes to be marketed discreetly."Some don't mind if their properties are publicly advertised, while others take their privacy extremely seriously and will not allow their properties to be listed at all and only dealt with on an inquiry basis. We have three properties like that in the Boland area - all of which are on the market for more than $10-million [about R121-million] each. There are also properties in Cape Town which are 'listed' in that manner."And the rest of the country? The quality of homes in Gauteng and KwaZulu-Natal was the same as those in the Cape, but they usually cost about a third of those in the Cape, he said...