Prices of the two- and three-bedroom homes, with covered verandas and double garages, range from R2,7 to R5,2m.
Ling Dobson, Pam Golding Properties' (PGP) area principal, says the first sales agreements at Knysna Lifestyle Estate have been concluded and the building of homes commences in January (2010).
"Transfer of all 35 homes in the first phase will be in September 2010. One of the key areas of interest among potential buyers - the 20-bed frail care facility - has been approved, with building to commence before the end of 2010. There will also be day clinics for medical assistance of a non-urgent nature," she says.
Dobson says the 52ha estate has low density - with only five homes per hectare. This is coupled with the fact that 25% of any capital appreciation on the resale of a house is allocated to a levy stabilisation fund in order to keep future levies as low as possible.
"We're anticipating keen interest from upcountry buyers during the forthcoming festive season.
"Homes will be in a contemporary design style, set among tranquil country lanes with walking paths and green belts. All stands have been carefully surveyed by architects who have chosen 17 different floor plans," she says.
Facilities on the estate will include a luxury clubhouse with restaurant, library, studio, billiard and card rooms and bar, while sports facilities include a gym, heated swimming pool, sauna, bowling green and tennis courts.
Dobson says residential property sales in Knysna are reflecting an upturn. "From March to December this year (2009) we've seen an increase in sales turnover of just over 42% to R80,9m compared with R56,8m during the same period last year. During this time sales volumes also increased."
Garth Wearing, broker/manager of Re/Max in Knysna, says the past six weeks have seen an enormous uptick in residential sales and interest in the town. "The banks' decision to relax their lending policies is a big contributory factor and the general feeling of a recession is certainly starting to abate.
He says properties between R1m and R3,5m are most in demand right now.
"Locals from Johannesburg and Cape Town and especially foreigners are very active in the market. The bargain hunters and investors are also making their presence felt. They are buying leisure properties and properties in estates, while the resurging demand for houses and townhouses hasn't fully materialised yet," he says. – Eugene Brink
Readers' Comments Have a comment about this article? Email us now.
This Knysna Estate is another one just above our financial reach. There must be a lot of retirees with loads of boodle, I get more and more frightened where we will eventually land up what with high levies and now rates to consider. – Ray
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