South Africa’s most expensive home ever – A marketing bluff?
A Camps Bay mansion is being marketed as the MOST EXPENSIVE residential property ever in South Africa.. But is this just clever marketing?
The property price for this home, aptly named Enigma, in the mind of its foreign owners, will shatter the previous South African residential property record price (R110 million by Seeff Properties) if it’s sold for the asking price of R300 million. The 1 586m2 mansion includes four large reception rooms, three en-suite bedrooms, a huge master suite as well as luxury facilities which includes a massage room, gym, sauna, a personal 3D cinema, a refrigerator room like they have in butcheries and those creepy horror movie houses, garage facilities for 6 cars, a pool, stunning views of the ocean and more..
To put the price in perspective, the most expensive home ever sold in the US was bought by Russian Investor, Yuri Milner, in March 2011 for R850 million+
The house is expected to be rented out for R155k per day in the interim which in itself is ridiculous.. But is this all just clever marketing? Mansions along the luxurious Atlantic Seaboard average around R20million. If the Enigma mansion was being advertised at market related prices, would you be reading this article right now? Would the millions of people around the country have even batted an eyelid at yet another property being marketed in Camps Bay? The answer is probably NO.
This property has been given Millions worth of free marketing by SA press given the extravagent amount being asked – Better than ANY marketing company could EVER have achieved. My analysis is simple: Market a house at such a ridiculous price you’ll have tongues wagging and the property with it’s images will go Viral in no time. An offer comes in that is in-line with the market at around R30million, you accept and move on. Your property has probably only stayed on the market for a fraction of the time it would have taken otherwise.
Heck I may be wrong, but it’s quite simply brilliant marketing if you think about it..