Tokai Property Market Soars as Residential Sales Record Price is Broken with R10m Sale

The prestigious suburb of Tokai in Cape Town’s Southern Suburbs has set a new benchmark in luxury residential property sales, with Lew Geffen Sotheby’s International Realty securing a record-breaking transaction for a home on Buckingham Road at R10 million, surpassing the previous high of R8.7 million. 

A Landmark Sale in a Coveted Suburb

The property in Buckingham Road is a prime example of Tokai’s high-end real estate appeal. This north-facing home, set in one of the suburb’s most sought-after streets, offers a perfect blend of modern luxury and classic charm.

The residence features spacious open-plan living areas with a Calore wood-burning fireplace, a gourmet Caesar stone kitchen with a gas hob and wine fridge, and seamless indoor-outdoor flow to a covered entertainment area with a built-in gas braai and heated saltwater pool. 

Lush, landscaped gardens with a computerised borehole irrigation system ensure privacy and year-round greenery, while three en-suite bedrooms—including a master suite with air-conditioning and a double vanity—provide ample space for family living.

A dedicated study and a double automated garage add to the home’s functionality, making it an ideal choice for discerning buyers. 

Why Tokai? Buyers Flock to This Leafy Suburb

According to Heculene Visser, specialist agent for Tokai at Lew Geffen Sotheby’s International Realty, the area’s broad appeal lies in its diverse demographic draw and unbeatable lifestyle offerings. 

“Tokai is a rare suburb that caters to all life stages,” says Visser. “Young professionals love its proximity to the city and vibrant village atmosphere, while families are drawn to top-tier schools like Reddam, the American International School and the Waldorf School.

“Downsizers appreciate the security, convenience, and sense of community, and outdoor enthusiasts enjoy easy access to the Tokai Forest and Constantia’s wine farms.”

The buyers of the Buckingham Road property — a family-owned Pty Ltd with members split between Cape Town and upcountry— reflect the suburb’s widening allure. Semigrants from Johannesburg and Pretoria, in particular, are increasingly investing in Tokai for its milder climate, superior infrastructure, and long-term capital growth prospect. 

Market Insights: Tokai’s Rising Value

Claude McKirby, Co-Principal of Lew Geffen Sotheby’s International Realty Southern Suburbs, cites data from Lightstone confirming Tokai’s “strong and steady appreciation”. 

“Over the past five years, properties in Tokai have outperformed many other Cape Town suburbs, with annual growth rates between 7-10%,” notes McKirby.

Entry-level buyers can expect to pay R3m to R3.5 million for a compact two- or three-bedroom cottage or cluster home, while premium properties, like the Buckingham Road residence, now routinely exceed R8 million. 

Investment Potential: High Demand Across the Board

Tokai’s rental market is equally robust, with high demand for both long-term leases and short-term executive rentals.

“We have waiting lists for quality rentals,” says Visser. “Investors benefit from strong yields, especially for homes near top schools or with modern amenities like solar power and backup water systems.” 

The suburb’s low vacancy rates and scarcity of available stock have further driven competition, making it a seller’s market for well-priced properties. 

A Suburb Built for Long-Term Value

With its tree-lined streets, top-rated schools, and unbeatable location between the mountains and the sea, Tokai remains one of Cape Town’s most resilient property markets, says McKirby.

This record-breaking sale underscores the area’s enduring appeal and signals even greater potential for buyers and investors in the years ahead.