One of the most unusual aspects of such this prime location is the sense of space that Higgovale affords.
Higgovale is one of a few Cape Town suburbs seeing house values rising in the local property market downturn. Opportunities to buy property here are “few and far between”, says Remax sales associate David Spence, but once you have your foot in the door, you should feel at home.
Commanding spectacular views across the City Bowl and Table Bay, this wind-protected node is home to little over 600 residents, populating some 230 freehold and 104 sectional title properties. Vacant stands are seldom available.
In South Africa’s 6000 recorded suburbs (via Lightstone), Higgovale is currently listed in 12th position, ahead of heavyweights such as Constantia, Fresnaye and Bakoven. Spence says 2018 sales figures show that the average house price in the past 12 months was R17.2million while a two-bedroom apartment would go for around R10m.
“Many parts of Cape Town have seen a slowdown over the past nine months with a minimum growth rate. The recent water crisis and negative sentiment towards South Africa over the past 18 months has also held back foreign investment.” But Higgovale has “remained relatively unaffected”.
The past five years have seen dramatic 115% appreciation in values in the area, with most sellers doubling their investment, he says. Water restrictions have also had limited impact, as many Higgovale properties have boreholes.
“The desirability of this area is unparalleled in the City Bowl. Aside from the incredible views and landscape that surrounds the suburb, there are many economic and practical benefits Security is of a high standard with an excellent neighbourhood watch which has numerous security posts around the neighbourhood and high armed response unit visibility.”
Spence says most Higgovale homeowners are between 50 and 64 years old and have had their properties for at least a decade, so on the rare occasions that properties become available, it’s “no surprise that they are snapped up quickly”.
“On average, properties here are sold within six weeks of being put on the market. Just nine properties have been sold in the past 12 months, so when opportunity knocks in Higgovale you need to answer quickly.”
One of the most unusual aspects of such a prime location is the sense of space that Higgovale affords. Most plots, on large stands are upwards of 700m² and only minutes’ travel from the trendy bustle of Kloof Street and the city centre. The splendour of Table Mountain National Park serves as Higgovale’s backdrop, while coastal trails and beaches are only a short distance away.
“You may need deep pockets to secure your dream home here but the rewards are immediate. There are architectural masterpieces aplenty with bountiful examples of spellbinding interior design. It’s long been a hub of exclusive allure and sophistication,” Spence adds.