“Locals Are Spectators”: SA Reacts to UK Buyers Splashing R15.9m on Holiday Home in Cape Town
- UK nationals bought a penthouse at The Marlow on Mill in Newlands, Cape Town, for a record R15.9 million
- The sale broke the previous Southern Suburbs apartment record of R12.65 million set in 2020 at Newlands Peak
- South Africans online questioned whether foreign buyers are pricing locals out of the property market
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Source: UGC
A penthouse in Cape Town’s Newlands has sold for a record-breaking R15.9 million to buyers from the United Kingdom, who plan to use the property only during their visits to South Africa.
The unit is located in The Marlow on Mill, a new 281-unit residential development on Mill Street in Newlands. Samantha Nel, Pam Golding Properties Western Cape area manager, confirmed it is the highest price ever paid for a penthouse in an apartment block in the Southern Suburbs. The previous record stood at R12.65 million, set in 2020 when a similar unit at Newlands Peak was sold.
Dr Andrew Golding, chief executive of the Pam Golding Property group, said the sale reflects strong demand in Cape Town for well-located, high-quality homes that offer security, parking and lifestyle amenities.
Source: UGC
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Cape Town’s hottest new address
The Marlow on Mill is the first major new residential development in Newlands in several years. It sits near the Sports Science Institute and the Newlands sport stadiums, with apartments offering views of Table Mountain. The development gives residents quick access to leading schools, universities, shopping centres and major routes including the M3 and M5.
Sales concluded so far have reached close to R350 million. Shelly Keys, another Pam Golding Properties Western Cape area manager, said most buyers are investors targeting rental income, while a second group consists of leisure buyers who intend to use their units as holiday homes. Foreign buyers have come mainly from the USA, the UK and Germany, and around 70% of recent buyers are middle-aged or older.
Source: UGC
Mzansi pushes back
Reddit user willtellthetruth shared the news on 15 August 2026, and it sparked immediate debate about what foreign money is doing to Cape Town’s property market.
@Exact-Bag-3589 said:
“Is this the reason why buying a house feels out of reach? It’s like the last couple of months, owners selling are expecting like an extra million for their properties on top of what it is worth. Seems most are probably holding thumbs that a foreigner will purchase their property for their ridiculous price.”
@OkMulberry1600 commented:
“They should be appropriately taxed on that as well as for leaving it vacant throughout the year.”
@willtellthetruth added:
“New York City recently enacted a special tax applying to certain properties that are not used as a primary residence.”
@shitdayinafrica raised a different concern:
“Traffic is going to be so messed if/when they finish this. It’s already horrendous; I can’t imagine adding more cars to the mix.”
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Source: Briefly News
