Property buyers continue to flock to Green Point, driving up demand in this sought-after suburb.
Many people are choosing to invest in Green Point which offers wonderful sea views and is close enough to walk to an array of shops, restaurants, the Sea Point Promenade, as well as world-class lifestyle attractions, such as the Green Point Urban Park, the Cape Town Stadium and the V&A Waterfront. It is also close to the beaches of Clifton and Camps Bay, and the CBD – which can be accessed either by car or the efficient My-CiTi Bus service.
Immaculate lock-up and go in Green Point for R7.45 million
And it is not just the location that is drawing buyers. Whilst demand in this rapidly evolving and vibrant area is certainly driving up prices, many of the properties in Green Point still offer wonderful value for money.
This is according to Alexa Horne, Managing Director of Dogon Group Properties, who says that Green Point’s location has made it highly desirable for buyers who don’t want the hassle of fighting rush hour traffic and want the convenience of city living right at their doorstep.
“We have seen robust demand for property in this suburb which has limited residential space available – as does most of Cape Town’s CBD. This has given rise to high levels of interest in property within the area.”
Some examples of value-for-money properties currently on the market in Green Point include a newly renovated north-facing 3-bedroom apartment in Hillside Heights which is currently on the market for R3.35 million, featuring a private balcony as well as a communal garden and pool area. This home also has a private single garage as well as 24-hour security on-site.
Another example of what your money can buy in Green Point includes a 1-bedroom apartment in The Odyssey building on Main Road with views of Devils Peak from the living area, secure basement parking, 24-hour security and concierge, a communal rooftop pool and braai area with glorious views of the mountain & vistas for sale for R2.195 million.
A bit pricier budget-wise is a 2-bedroom apartment in Ocean View Drive in Upper Green Point with a private garden, undercover patio, pool, double garage and stunning views for R7.45 million, or a 3-bedroom, 3-bathroom (all en-suite) fully furnished luxury apartment in the Romney Park Aparthotel, with unending views over the Atlantic from its location on the lower slopes of Signal Hill. A large swimming pool and lounging deck area, on-site restaurant, bar and lounge, boardroom meeting facilities, full backup generator during load shedding, water tanks, and full wheelchair access are just some of the features included for the R8.775 million price tag.
Charming double-storey Victorian home in Green Point for R8.250 million
Alison Robb, sales agent and Green Point area specialist for Dogon Properties says that Green Point is a popular residential area for young professionals and university students as it enjoys a hive of bustling nightlife, trendy restaurants and cafés, as well as easy access to the main arterial routes in and out of the Atlantic Seaboard.
“Well-priced properties and hidden gems are scattered throughout the area. There are apartments available which have excellent potential for value appreciation and are often priced lower than comparable properties in other surrounding areas close by, making them a great investment opportunity. Globally, history has shown that rejuvenated city centres offer significant capital growth.”
Robb says that she has experienced a surge in sales during the months of February to May from mostly investor buyers from Gauteng and KZN entering the market and snapping up any available well-priced apartments, as well as first-time buyers who are offered incentives when purchasing with a bond.
“Activity is brisk among buyers in the price range from R1.2 million to R2.5 million - and if lucky, one can snatch up a 3-bedroom apartment in the region of R2.95 million. However, we do continue to see a shortage of stock in the area due to semigration. Everyone wants to be in Cape Town right now and Green Point offers an affordable lifestyle for those wishing to have a foot in the door.”
“For obvious reasons, Green Point is one of Cape Town’s most popular suburbs, offering a sense of community, security and vibrant energy. Residents can take a stroll or cycle on the promenade, go shopping at the V&A Waterfront, sunbathe at nearby popular beaches, kayak with the dolphins, and enjoy a variety of trendy coffee shops, cafés and renowned restaurants - all within strolling distance.”
Transforming Urban Living: The rise of managed precincts in SA
In the dynamic landscape of urban development, SA is witnessing a remarkable shift towards managed precincts as the future of modern living. These thoughtfully designed and carefully curated spaces are redefining the way we inhabit and experience our cities. With a strong focus on safety, sustainability, and community, experienced developer overseeing the exciting new Riverfields precinct in Kempton Park - Gideon van der Vyver – shares his views on how managed precincts are setting new standards for urban living, revolutionising the concept of a harmonious and fulfilling lifestyle.
SA faces significant challenges in terms of infrastructure and essential service delivery, including power outages, water shortages, inadequate waste management, and poorly maintained public spaces. These shortcomings have led to mounting frustration among citizens, creating an urgent need for alternative solutions to address these pressing issues. According to the World Bank collection of development indicators, the urban population in SA accounted for 67.85% of the total population in 2021. This indicates a significant proportion of the country's population residing in urban areas adding additional pressure for urban planning to meet the needs of the population.
Managed precincts have emerged as a promising answer to these challenges, providing well-planned developments that integrate residential, commercial, and recreational spaces within a cohesive, safe, and well-maintained environment.
Managed precincts in SA – already a proven recipe for success
SA boasts a collection of successful managed precincts that have transformed urban landscapes and set new standards for community living. The Umhlanga Urban Improvement Precinct (UIP), established in 2015, has played a crucial role in transforming uMhlanga into a thriving and well-maintained urban hub. Focusing on safety, cleanliness, and aesthetics, the UIP has significantly enhanced the quality of life for residents and visitors. Through dedicated security patrols, efficient waste management systems, landscaping initiatives, and urban maintenance projects, the UIP has successfully reduced crime rates, improved street cleanliness, and created a more welcoming environment. Its collaborative approach, involving local stakeholders, residents, and businesses, has fostered a strong sense of community pride and ownership.
Waterfall City, a large-scale mixed-use development located between Johannesburg and Pretoria, redefines urban living with its seamless integration of residential, commercial, and retail components. Offering a holistic and sustainable lifestyle, Waterfall City provides a diverse range of residential options, convenient access to amenities, well-designed infrastructure, efficient transportation networks, and ample green spaces. Its appeal extends to businesses as well, attracting numerous corporate offices and commercial spaces, both locally and internationally.
Other prominent examples include Melrose Arch in Johannesburg, The V&A Waterfront in Cape Town, Menlyn Maine in Pretoria and Steyn City on the outskirts of Johannesburg and Century City in Cape Town. What all these developments have in common is that they serve as beacons of progress, demonstrating the potential for well-designed precincts to enhance quality of life, attract investment, and foster economic growth.
Riverfields: managed precinct 2.0
So, it’s no surprise then why Riverfields as the newest kid on the block precincts-wise in SA has opted to follow suit with the managed precinct model with the intention of trying to further improve this model.
In a world where the realities of the service delivery challenges faced by municipalities are experienced daily, Riverfields, has instituted meticulous planning and efficient management of the precinct to make it an ideal place to live and work. A key factor contributing to the increased demand and rising success of this up-and-coming precinct is the emphasis on integrated urban planning, which ensures a well-balanced mix of residential, commercial, and recreational spaces.
Thanks to the ongoing public and private partnership developed, the precinct boasts diligently maintained infrastructure, including road networks, utilities, and public spaces, all meeting the needs of residents and businesses within the precinct.
These strategic partnerships with local authorities and service providers ensures the efficient delivery of essential services to the area. Riverfields Management Association prioritises safety and security, implementing robust measures to create a secure environment for residents. Active community engagement fosters a sense of belonging and pride among residents, further enhancing the overall living experience.
Unlocking a brighter future
"I believe Riverfields showcases the transformative potential of a managed precinct, creating a harmonious and sustainable community where residents can thrive. We have seen time and again how successful precincts can have a significant positive impact on the local economy. They attract businesses, tourism, and investment, which leads to job creation and increased economic activity. The presence of commercial spaces and retail outlets also generates revenue for the local government through taxes and fees.
"There’s no denying that managed precincts represent a transformative solution to SA's infrastructure and essential service challenges. With their focus on sustainability, security, and superior living environments, these precincts offer a glimpse into a brighter future and are already factoring into the decision-making process as attractive criteria for businesses and individuals looking for a home.
"It is crucial for stakeholders to embrace managed precincts as catalysts for change, encouraging increased private sector involvement and government support. By working together, we can forge a path towards a more sustainable and desirable SA," says van der Vyver.
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