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Saturday Jan 22, 2022

Semigration driving the Mother City's burgeoning estate sector

The resurgence in semigration has precipitated a sharp increase in the demand for secure living in Cape Town last year, with agents reporting an exceptionally busy festive season that has spilled over into the new year and shows no signs of abating.

Constantiaberg is one of the premier destinations for upcountry buyers who are drawn by the inimitable lifestyle and natural beauty it offers as well as the proximity of several excellent schools and all manner of amenities, from hiking and biking trails and golf courses to stunning beaches.

According to Steve Thomas and Dave Burger, Secure Estates specialists for Lew Geffen Sotheby's International Realty in the area, December was busier than they have seen in almost 20 years, with enquiries still streaming in.

"There has been a sharp increase in demand from upcountry buyers since the beginning of 2021with most buyers citing lifestyle and space as their primary reasons for buying in the area.

"We are also fielding a growing number of enquiries from foreign investors again, especially from the UK, Europe, USA and New Zealand, many of whom can work remotely and are able to prioritise lifestyle over convenience when it comes to choosing where they want to live.

"Buyers are especially drawn to estates that are not only well-run but also offer excellent facilities and amenities such as club houses, golf courses and other leisure activities in scenic surrounds and, of course, views are paramount."

At Stonehurst Mountain Estate, one of the most established in the area, the median price of freehold homes rose from R4.9 million in 2020 to R5.475m in 2021 with sales increasing from 13 to 22 during the same period.

According to Lightstone data, Steenberg Golf Estate also saw freehold median prices soar last year to R13m from R12m the year before and sales spiked from just five in 2020 to 13 last year.

In Cape Town's Northern Suburbs, 2021 was also a busy year for the estate sector with a flurry of activity, especially in the most sought-after estates.

Lightstone data reveals that the median price of freehold homes at Welgedacht rose from R4.882m in 2020 to R5.5m last year and the number of sales spiked from 14 to 31 with the previous high being 37 transactions in 2012.
At Clara Ana Fontein, an upmarket estate still under development, the freehold median price increased from R5.1m to R5.5m during the same period and last year a whopping 72 vacant stands were sold at a median price of R2.672m, almost R500 000 more than the previous year.
The Cape Winelands is another favoured destination for upcountry buyers, and the median sale price rose notably in many estates, some even reaching a record high in 2021.

At Boschenmeer Gold estate, the current median price of R5.4m is up from R4.03m the year before and, at award-winning Val de Vie, the 2020 median price of R6.825m increased to R8.084m.

Chris Cilliers, CEO and Co-Principal for Lew Geffen Sotheby's International Realty in the Winelands, says that there has been strong demand for estate homes across the board, from buyers with young families, as well as young professionals and retirees with a notable increase in upcountry queries.

"Topping buyers wish lists at the moment are secure properties within natural surroundings and away from congestion along with fresh air, nearby sources of wholesome foods and lots of space for exercise and leisure.

"The Winelands offers buyers the best of all worlds because, over and above, these key attractions, it's also within easy driving distance of the city and the airport as well as a host of nearby attractions from beaches to vineyards."

The West Coast has also been attracting considerably more interest and Atlantic Beach Golf Estate also achieved a record freehold median price last year when it increased to R5.388m from R4.685m in 2020 with sales spiking from 36 to 58.

    
 

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