New sectional title development in Port Elizabeth

Demand for homes within secure sectional title developments in Port Elizabeth currently far exceeds the supply available to buyers.

Slabbert says as it's a new development, there will be no transfer fees or duties. Investors can expect a monthly rental income ranging between R5 000 and R6 500.

This is according to Kobie Potgieter, Broker/Owner of RE/MAX Independent Properties, operating in Lorraine, Port Elizabeth, who says many buyers place a high value on security. In fact, he says for many it is the driving factor behind where they choose to buy their home.

However, due to the premium prices of security estate homes, they are not always financially within the reach of young individuals or first-time buyers. This is why sectional title units within secure developments have continued to perform remarkably well, with units rarely sitting on the market for too long, says Potgieter.

Christo Slabbert, team leader at RE/MAX Independent Properties, operating in Lorraine, Port Elizabeth, says there is high demand for value-for-money properties that offer security features, and which are well-placed close to sought-after amenities.

“Convenience pays a substantial role in the decision making process when it comes to buying a home. Generally, buyers would like to be close to amenities such as shopping malls, medical facilities and schools.”

This is partly due to the fact that they don’t have to travel far to make use of these facilities and partly because homes within proximity to amenities generally hold their value very well, says Slabbert.

Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, says location and proximity to amenities are key factors to a home’s appreciation potential.

“Homes that are well situated close to amenities and offer security will generally offer the homeowner solid returns on their investment over the medium to long term,” says Goslett.

Slabbert says a new development called Fairfields, which caters to buyers looking for all of these features, has just been launched to the public.

Situated in Fairview behind VW Tavcor William Moffat, only 500m from the Brylin Private School, and 800m from a shopping centre, the development is considered to be one of the best positioned new developments in Port Elizabeth.

“I expect that Fairfields will be popular among property buyers and investors looking to add to their current portfolios. Not many new developments in the region provide as many amenities in such close range, while still offering homes that are affordable for first-time buyers,” he says.

Slabbert says Fairfields is a double-gated, sectional title development surrounded by electrified perimeter fencing. The development consists of five housing schemes named Butterfly, Ladybird, Dragonfly, Bumblebee and Beetle Camp.

Each of the five housing camps is unique and caters to different tastes. Once all phases are complete, the development will consist of 81 units in total. The development will also feature its own gym as well as a cycling/running/dog-walking track for buyers to enjoy and make use of. 

Buyers have a selection of different plans to choose from, as well as the option to select their own finishes. Butterfly Camp, which is the first phase of the development, will consist of 17 units.

He says the units within Fairfields are expertly designed and high-end. The apartments, which include two bedroom, one bathroom units, and three bedroom, two bathroom configurations, measure between 50sqm and 88sqm, depending on the arrangement.

Pricing for the two bedroom, one bathroom configuration starts at around R599 000, while prices for the three bedroom, two bathroom units starts at R798 000. As it is a new development, there will be no transfer fees or duties payable. Investors can expect a monthly rental income ranging between R5 000 and R6 500.

“Fairfields is the ideal development for buyers who want to enjoy a great lifestyle in a modern home that is well positioned and has all the things they need right on their doorstep,” says Slabbert.