3-bedroom Cape Town home goes to auction for R380 000

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A buyer could get this property for 59% less than its market value.

0 Auctions ramping up. Image for illustration purposes. Image: Pexels Bank auctions are ramping up again as owners struggle to make payments in this economy.

In Cape Town, about half a dozen properties have gone to auction.

One has a R380 000 reserve, 59% less than the City of Cape Town’s R930 000 valuation in 2025.

This 312-square-metre semi-detached home has 3 bedrooms, 1 bathroom, a carport, and a garage.

Located on Bokmakierie Street in Kleinvlei, the City of Cape Town’s 2025 valuation puts the home’s market value at R930 000.  

The area’s average sale price, according to the South African Deeds Office, is R485 000 as of October 2026.

Yet, Absa has the home up for auction with a R380 000 reserve. The auction will take place in Kuilsriver on 17 November 2026.

However, any bidder should know the current homeowner owes R40 647 in rates arrears.

And according to Barnard Incorporated Attorneys, the buyer should be prepared to settle the arrears after the sale.

The reserve price, the amount the bank must sell the property for if a bid exceeds it, isn’t the full price the buyer pays.

At auction, a successful buyer pays what they bid.

They may also pay VAT, transfer duties, sheriff or auctioneer’s commission, and any arrears.

If the home is still occupied at the time of the auction, a buyer will have to pay for an eviction.

These costs can add up and, if the home is still occupied, prevent a buyer from accurately assessing the home’s condition.

Evictions also aren’t easy in South Africa, especially if the occupier opposes. The process can take over a year, even after a successful sale.

An unopposed eviction can cost up to R18 000, according to Simon Dippenaar and Associates.

Opposed evictions can surpass R45 000 in legal fees.

Before bidding, buyers should consider these costs.

Other properties are also going to auction in Cape Town.

A flat in Kenilworth has hit the market with a R735 000 reserve, and so has one in Woodstock with a R600 000 reserve.

The Kenilworth flat, however, owes R44 172 in levy arrears.

In Landsdowne, there’s a 2-bedroom flat on auction with a R700 000 reserve and no levies or rates arrears.

In Kraaifontein East, there’s a 5-bedroom home which the city values at R1.2 million, with an R850 000 reserve.

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