The Camps Bay Property Letter

One of the most common questions I get asked each week is simple enough: what is the average selling price per square metre for a house in Camps Bay? The follow-up is almost always the same. And what would it cost to just build from scratch?

That second question comes from the same place every time. People see Camps Bay prices and wonder what would happen if they bought an older home, knocked it down, and built exactly what they wanted. Could that work out cheaper? It is a completely reasonable thought. But the honest answer is that building costs depend on far more variables than most people realise. My late father, who was an architect, showed me exactly why, using two simple diagrams I have never forgotten.

Take a look at the two houses below. They are identical in size, both exactly 100 m². (I know the first example is exaggerated. I am only trying to highlight a point.)

Two houses, the same floor area

Both exactly 100 m² · drawn to the same scale

To illustrate the point, imagine both houses are built entirely from glass. To work out the cost of the materials, you do not measure the floor. You measure the walls, which means the perimeter.

House 1 runs 50 plus 2 plus 50 plus 2, which is 104 running metres of glass. House 2 runs 10 plus 10 plus 10 plus 10, which is 40 running metres. Same floor area. But House 1 needs 64 more running metres of material, a 61.5% difference in cost, for the walls alone.

Two identical floor areas. One costs 61.5% more to build, before you add a single finish.

And that is just one variable. Add the number of levels, the roof complexity, the slope of the site, the quality of the finishes and the engineering requirements. Then factor in Camps Bay's own challenges: rocky terrain, steep gradients, wind exposure and strict aesthetic controls. You quickly see why no two buildings cost the same per square metre.

So what is the average price per m²?

Honestly, nobody really knows. And I say that with complete confidence. There are no accurate sales records that track the size of the house sold. The only reports available calculate a price per square metre based on the size of the erf, the extent of the land, not the size of the house under roof. In many cases agents simply do not have the floor plans. Sellers are often reluctant to share them. And even when plans exist for older homes, they frequently do not reflect the additions and improvements made over the years. The data is incomplete, and incomplete data produces unreliable benchmarks.

That said, the range tells its own story. In the past 12 months alone, houses in Camps Bay have sold at over R115,000 per square metre, and others at R45,000 per square metre, land included. That is not a small gap. It reflects just how different two properties in the same suburb can be.

So how do I value a home in Camps Bay?

It starts with what I call the fundamentals: the view first of all, then orientation, road traffic, and the desirability of the specific pocket within Camps Bay. From there I look at the finishes: elevators, heated pools, smart home systems and the quality of the build. Not just what has been installed, but how well it has been done. Workmanship matters enormously, and it is something you can only assess in person.

I then cross-reference historic sales in close proximity to the property, along with comparable homes currently on the market. And finally, fifteen years of living and working in Camps Bay, and four consecutive years as the top-selling agent in the suburb. I have personally sold 66.6% of all properties sold above R45 million in the past two years, according to Propstats. That kind of hyperlocal experience does not show up in a spreadsheet, but it is arguably the most valuable input of all. It is the difference between a valuation and an educated guess.

If you are looking to sell or buy in Camps Bay, please give me a call. I would love to be of assistance.