Wealthy international buyers are securing a growing share of property in Llandudno, one of Cape Town’s most exclusive seaside communities.

New data from Lightstone Property shows that foreign buyers purchased 67 of the 102 homes sold in the area since 2015. This means roughly two out of every three sales involved an international buyer.

The properties bought by foreigners had an average transaction value of R29.2 million. Their combined purchases were worth an estimated R1.96 billion.

Llandudno sits between Hout Bay and Camps Bay along Cape Town’s Atlantic Seaboard. The secluded neighbourhood has no shops, commercial activity or streetlights. Its beach and coastal scenery have helped make it one of South Africa’s most sought-after addresses.

Luxury Homes Attract Global Wealth

Lightstone analysed approximately 2.39 million residential property transactions completed across South Africa over the past decade.

Foreign buyers represented a relatively small share of the overall property market. However, their presence increased sharply as property values climbed.

International buyers were involved in 15% of transactions valued between R4 million and R10 million. This rose to 26% for homes worth between R10 million and R20 million.

Foreign buyers accounted for 39% of transactions involving properties valued above R20 million. That is close to two out of every five luxury homes sold in this price category.

Western Cape Leads Foreign Demand

The Western Cape recorded the highest proportion of foreign property buyers at 7.8%. Gauteng followed closely at 7.3%.

Cape Town also attracted the country’s highest estimated foreign property spend. International buyers acquired around R153 billion worth of residential property in the city during the period.

Demand remained especially strong along the Atlantic Seaboard. Bakoven and Camps Bay recorded foreign buyers in just under half of all property transactions, with average prices ranging between R16 million and R17 million.

Combined with Llandudno, the three suburbs accounted for roughly R8.6 billion in property purchases by international buyers.

Lightstone also identified growing foreign interest in Constantia, Bishopscourt, Scarborough and Kommetjie. Smaller towns including Paternoster, Stanford, McGregor and Riebeek Kasteel are experiencing a similar trend.