The growing appeal of low-maintenance community living coupled with high levels of security has seen demand for homes in secure estates burgeon in recent years, with these properties now accounting for around 15% of the entire property market in South Africa.
However, with the average price of these properties being nearly three times the national average for a freestanding house according to Lightstone data, they are increasingly priced beyond the reach most beleaguered budgets, especially in sought-after areas like Kenilworth Upper in Cape Town, says Ruth Leach and Anne Goddard, Partner Area Specialists for Lew Geffen Sotheby’s International Realty.
To meet demand a new offering, Salisbury Mews, comprising just six contemporary freehold townhouses for sale off-plan, has been bought to market.
According to Leach and Goddard, these homes are a rare investment opportunity as they offer excellent value in a high value area.
“Very competitively priced between R4.16 million and R4.78 million (plus VAT, no transfer duty), Salisbury Mews offers the best of both worlds: the lock-up and go convenience of an apartment with the relaxed lifestyle of a spacious house,” say Leach and Goddard.
“Designed with privacy in mind, the units have generous ground-floor open-plan living spaces that flow out to secluded patios and compact gardens, gourmet kitchens fitted with Smeg ovens and three luxurious en-suite bedrooms upstairs.”
According to Lightstone data, the average sale price of a freehold home in Kenilworth Upper for the past year ending April 30 is R6.994 million, which makes these luxurious homes exceptionally well-priced,” says Claude McKirby, Southern Suburbs Co-Principal for Lew Geffen Sotheby’s International Realty.
“Secure homes in prime locations will always attract investor interest, especially those priced below R10 million which tick the primary boxes on buyer’s wish lists,” says McKirby.
“When demand outweighs supply in desirable upmarket suburbs, investment almost always yields exceptional returns, irrespective of market conditions, with properties in secure estates being especially receptive to significant capital growth.”
Convenience is increasingly topping buyers’ wish lists, and Kenilworth Upper delivers without compromising on lifestyle, say Leach and Goddard.
Everything residents could possibly need is virtually on their doorsteps - from a choice of top-class retail centres, popular eateries and first-rate medical facilities to a variety of outdoor activities and sports facilities.
And with the huge upgrades currently under way in Kenilworth, including a host of new shops and amenities, the node is developing a ‘village’ feel and residents will soon be able to walk to all their favourite venues in the new shopping hub, including a brand new Pick and Pay, Knead Bakery, Bootleggers, Sorbet and Wine Concepts, say Leach and Goddard.
The suburb’s central location also places it in close proximity to all the schools in the area, as well as Claremont and Constantia.
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