Worth R450 million,6930113253.75 Naira(approximately N7 billion), South Africa’s most expensive property is a house called Casablanca in Camps Bay.
South Africa's most expensive home is N7 billion
Described as South Africa most expensive single family home, it is said to be worth R450m(approximately N7 billion).
Casablanca
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According to the designer, it was “designed and built for an international mogul who enjoys lavish entertaining on a grand scale."
The mansion can entertain 1000 people with it's triple-volumed reception rooms or host a formal dinner in the dining room for 48 people.
It boasts of an eighteen-seater private cinema, a full size squash court, a massage therapy room, 13 bedrooms, a 14-car garage, a 12-seater sauna, a state of the art security system and an 18-seater movie theatre fit for royalty.
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Lew Geffen of Sotheby’s International Realty justifies the price tag of this opulent house saying:
"We need to compare apples with apples, ie not looking at the property in terms of land value and what’s available down the road on an erf of the same size, but how this house compares to similar properties around the world. There are very few private city residences in the world in which one could comfortably entertain 1 000 people, or host a formal dinner in the dining room for 48 people."
Property expert, Steven Delit, said that the R450 million price tag, which is not necessarily the selling price, could buy all 33 houses that were sold in Camps bay in the first half of the year.
South Africa’s most expensive property is designed by Sotheby’s International Realty in South Africa.
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