It’s no secret that Cape Town has become the preferred destination for upcountry and foreign buyers with sales and property values having surged since 2020, but the niche market that’s capturing the most buyer attention is the secure lifestyle estate sector, especially in the Constantiaberg area where record median prices are being seen.
“In 2020 our office saw a 40% year-on-year increase in sales, with a further 300% surge in 2021, a 200% increase in 2023 and this year is shaping up to be the same,” say David Burger and Stephan Thomas, veteran Secure Estate Specialists for Lew Geffen Sotheby’s International Realty in the area, adding that they’ve brokered a record number of deals during the past year.
“Demand has continued unabated since the end of lockdown when semigration resumed and more recently, with increasing political instability in Europe, there has been a surge in foreign buyers as well as returning South Africans and we’re also seeing more interest from American investors.
“Sotheby’s International Realty research has shown that at least 40% of the global workforce is now ‘location independent’ and the opportunity to live in harmony with the stunning natural environment offered by estates like Stonehurst, High Constantia and Silwersteen, is fueling keen local and foreign interest.”
Indeed, Lightstone data reveals that median prices have spiked in many of the estates since the pandemic, with some reaching record highs this year.
At Steenberg, the media freehold price peaked at R15.3 million in 2019 but, after a dip in 2020, it has steadily climbed to a 2024 record high of R15.495m. The freehold median price at another sought-after estate has followed a similar pattern – after a record high of R8.94m at Silvertree Estate in 2021, the median sale price briefly dipped to R7.8m in 2022 and rose to a new high of R9.1m this year. The Paddocks also saw a new high of R11m in 2024.
According to the duo, the most active price band is R8m to R12m and the most sought-after properties are those with additional accommodation for elderly parents or other family members, good views and modern quality finishes.
“Most buyers in our area are buying into the Cape Town lifestyle and the close proximity to a host of scenic amenities such as golf courses, mountain bike and hiking trails, beaches and sailing.
“They are also spoilt for choice as far as estates go as there are developments in the area to suit all lifestyle requirements.
“Estates such as Stonehurst Mountain Estate, where there are almost 300 homes on 100 hectares offer extended lifestyle facilities such as walking trails, mountain bike routes, gym, restaurant, swimming pool, bar, café, a children’s creche and meeting facilities for the community.
“These suit those with a busier, more energetic lifestyle and, although there is a greater security/access control burden, costs are shared more widely.
“Golf Estates like Steenberg offer vast open spaces, not only for the playing community, but also for the general occupants who can walk extensively around the estate for a multitude of reasons. The cost of maintaining a professional golf course, however, does not come cheap and one must be dedicated in this pastime to make it cost-effective.
“At the other end of the scale are estates like The Paddocks where there are only six properties and no formal on-site amenities are quiet and ‘easy living’ with no real disturbances, no heavy security/access control load and easy access to the management committee to address any immediate or pressing issues. Elegant New Court in Zwaanswyk offers peace and tranquility in a totally secure environment and the highly sought after Silverhurst Estate in the heart of Constantia is also ever popular amongst discerning high net worth investors.”
With the current political stability since the general election and the suspension of loadshedding for the foreseeable future, Thomas and Burger expect this trend to continue unabated.
“The reality is that whilst South Africa has its problems, we seem to be turning a corner whilst people living in Europe are becoming more disenchanted every day with wars on their doorstep, uncontrolled immigration and cost of living increases. And, with the lifestyle and comparative accessible pricing, it’s no surprise that South Africa, and Cape Town in particular, is becoming an increasingly attractive option.”
