Higgovale – the jewel in Cape Town’s crown

Nestled against the backdrop of Table Mountain and Lion’s Head lies the north-facing suburb of Higgovale – one of Cape Town’s most exclusive areas and one of very few where housing values continue to rise, despite a downturn in the local housing market.

REMAX agent, David Spence, has sold hundreds of millions of rands worth of property in this segment of Cape Town’s City Bowl and its surroundings.

“Of the almost 6 000 suburbs recorded in South Africa Higgovale ranks alongside heavyweights such as Constantia, Fresnaye and Bakoven in the exclusive market.

“Opportunities to buy property in Higgovale are few and far between, but once you’ve got your foot in the door you’ll find it’s a magnificent suburb. It’s a genuine slice of paradise, and you will feel as if you have come home,” says Spence.

Commanding spectacular views across the City Bowl and Table Bay, this wind-protected node is home to a little over 600 residents, with around 230 freehold and 104 sectional title properties. Vacant stands are seldom available.

Sales figures show that the average house sale over the last 12 months was R17.2m whereas two-bedroom apartments go for around R10-million, according to 2018 data.

“Many parts of Cape Town have seen a slow-down in the housing market over the last nine months with a minimum growth rate. The recent water crisis and negative sentiment towards South Africa over the past 18 months have also held back foreign investment,” says Spence.

“Yet Higgovale has remained relatively unaffected. The past five years has seen dramatic 115% appreciation in house values in the area, with sellers in most cases achieving double their investment. Recent water restrictions in the Western Cape have also had limited impact, as many Higgovale properties have boreholes.

“Security is of a high standard with an excellent neighbourhood watch provided by OH Watch. They have numerous security posts dotted around the neighbourhood and a very high level of armed response unit visibility.”

Spence says that on average, properties here are sold within six weeks of being put on the market, and only about nine properties have been sold in the last 12 months.

“You may need deep pockets to secure your dream home here but there are many architectural masterpieces and examples of spellbinding interior design.”