With the residential property market said to be a buyers’ market currently, homebuyers can choose from affordable to designer homes depending on price and location.
A two bedroom apartment with a private patio in a secure complex in Kenilworth is selling for R580 000 through Pam Golding Properties.
Pam Golding Properties (PGP) says buyers can still snap up homes and enjoy a trendy lifestyle in the southern suburbs at more affordable prices.
The agency says affordable homes are located in one of several stepping up suburbs located on the area’s eastern edge.
Howard Markham, PGP area manager for the southern suburbs, says there are a number of properties in areas such as Rondebosch Park Estate or Lynfrae, which are located close to expensive neighbourhoods at significantly lower prices.
He says Rondebosch Park Estate is a small suburb popular with families, with prices ranging between R1.5 million and R3.5 million.
It is quite possible to buy a four bedroom family home with a pool for under R2 million.
PGP says sections of Claremont offer several options for buyers in lower to middle price ranges.
Semi-detached homes ideal for first-time buyers cost R1.7 million for a two bedroom cottage measuring 300 square metres, while a three bedroom townhouse costs below R2 million.
Lynfrae is characterised by large family homes on spacious grounds with properties priced up to R3.5 million.
For those looking for homes in Kenilworth, he says the section located between Main Road, Wetton Road, the M5 highway and Harfield Village offers a village feel and sense of community.
Prices can vary from around R1.6 million to R3.5 million.
In the North West Province, Rustenburg, the world's platinum capital, is fast expanding with economic growth of more than 13 percent per year and property development is keeping pace thanks to extensive infrastructure upgrades.
In Rustenburg in the North West, first-time buyers target properties of between 60 to 120 square metres in the R650 000 to R1 million price range.
According to Reinette Lummis, principal of RealNet Lummis Properties, Rustenburg is currently second on the list after Midrand in Gauteng as the fastest-growing area in Africa.
“Mining of the platinum group metals and chromium coupled with tourism is keeping the area in the big league,” she says.
Lummis explains that thousands of primary and secondary job opportunities have been created by strong demand for the metals, which, in turn, has boosted demand for residential property and commercial services.
She says according to the local town planning department, almost 130 applications for new township development are pending.
Infrastructure and service developments have gone beyond the mountain range in the south-east and the delta between the N4 and Kroondal is fast developing into light industrial parks, similar to the highly successful Mabepark area, as well as office and popular secure housing complexes.
“Demand for property did not waver and in the three years up to the end of last year, approximately 430 sectional title and an estimated 520 full title property transactions were registered in Rustenburg.”
First-time buyers target properties of between 60 to 120 square metres in the R650 000 to R1 million price range.
Property registrations show that upper market buyers target properties of between 250 and 450 square metres priced between R2.5 million and R3.5 million while top end estate homes can cost up to R7 million and more.
Fine & Country International Realty SA says those buyers with money to splash should look no further than the V & A Waterfront Marina in Cape Town.
This location according to the agency has an unpretentious aesthetic appeal and good return on investment for discerning homeowners and property investors.
This Westcliff home was built in 1902 by Aburrow and Treeby and boasts a magnificent wooden staircase and is selling for R16 million through Pam Golding Properties.
The exclusive V&A Waterfront Marina residential properties are situated in one of the most sought-after locations in South Africa complemented by the lock-up-and-go marina lifestyle.
Nafeesa Vallie, Fine & Country agent at the V&A Waterfront Marina, explains that the average difference between listed prices and selling home prices has never exceeded 10 percent
“The average nominal growth rate for apartments on the canal was 14.4 percent compounded year-on-year and the highest average nominal price growth rate for front yacht-basin apartments was 21 percent over the same period,” she says.
She says the average rate per square metre on apartments ranges between R38 000 and R50 000, while penthouses range between R60 000 and R80 000.
Expect to pay R4.5 million for a one bedroom apartment, R9.5 million for a two bedroom and from R10.5 million for a three bedroom marina facing apartment.
Canal-facing one bedroom apartments are priced at R3 million, R6 million for a two bedroom and R7.5 million for a three bedroom apartment, she says.
Vallie says it is still a buyers’ market and V & A Waterfront Marina property prices have stabilised with sellers pricing their apartments realistically in line with market conditions.
In the Western Cape, Rawson Properties Blaauwberg franchise principal Mike Abrahamse says home buying activity has significantly increased thanks to the improved financial situation of middle class South Africans.
“We are finding that buyers are qualifying more easily for bond mortgages – not just because the banks have eased up slightly on their former stringent criteria but because they have become better at managing their own financial affairs.”
Abrahamse points out that those would-be homebuyers in Blaauwberg should know that the area still offers good value and properties are priced from as little as R380 000 for a one bedroom cottage at the lower end of Table View to close on R15 million for a grande mansion on the beach front with direct views of Table Bay and Table Mountain.
Located at Sunset Links Golf Estate in Blaauwberg, this luxury four bedroom home with a floor area measuring 705 square metres is selling for R11.9 million through Rawson Properties Blaauwberg.
PropStats figures reveal that the average difference between the asking and selling price is now 9.8 percent, but if one works on median figures that eliminate the non-typical top and bottom priced sales, homes typically sold within 6.5 percent of the asking price, he explains.
On cheap homes, he says at least 12 properties on his stock list will qualify for the new 20 percent deposit subsidy recently announced by the Finance Minister for homes bought for less than R450 000 if families earn between R3 500 to R15 000 per month.
He notes that this initiative by the government will have a domino effect on the market.
As an example, he says a seller selling a home at R400 000 will typically move to one priced at R700 000.
That seller in turn will opt for a home priced up to R1.2 million.
“Buyers who buy property now are achieving rock bottom prices.”
Abrahamse predicts that any well-chosen house in this area will double in value in five to seven years – and those buying to rent out will find that current demand ensures that rents will also move up by on average 8 percent per annum.
For those eyeing top luxury homes in Blaauwberg the Sunset Links Golf Estate with views reaching up to the Milnerton Golf Course is one such location, he says.
In Gauteng, PGP Hyde Park joint area manager Jonathan Davies says designer homes with an aesthetic architecture look and feel are sought-after in Johannesburg’s northern suburbs.
Buyers at the high end of the market in this part of town want unusual homes suitable to their own individual lifestyles.
“While we sell properties across all price ranges, in this area we deal with many buyers in the price range from R10 million upwards, who wish to express their individuality and their own personal tastes through their homes.”
Davies says they find that a residence of exceptional design or historic value is always sought after and therefore represents a sound investment.
One such exceptional home is situated in Westcliff and is more than 100 years old.
Built in 1902, this Johannesburg heritage home is steeped in history and is best described as an eclectic mix of styles and is designed by architectural firm Aburrow and Treeby, with later additions by Sir Herbert Baker.
Designed by award winning architect, Johann Slee, this Sandhurst contemporary home is selling for R45 million through Pam Golding Properties. This high-tech security home features CCTV cameras and security beams, a wine cellar and tasting room for the discerning wine connoisseur and an art gallery complete with skylights, making it highly suitable for displaying prized artworks. It also has an entertainment room, a Jacuzzi as well as a tennis court with floodlights.
It was built for Mr John Jolly, a highly successful Grahamstown merchant and the founding director of Premier Diamond Mine.
Davies says when visiting this grand old home you may find yourself transported back to a gracious time of croquet, masked balls and horse drawn carriages.
This ambience becomes evident upon entering the home through the triple volume entrance hall with its magnificent wooden staircase.
Stained glass windows, wood panelling and distinctive parquet floors completes the picture.
It has six bedrooms all of which have fireplaces, five reception rooms and includes a ballroom.
Another designer property is the contemporary Sandhurst home designed by award winning architect, Johann Slee, selling for R45 million.
This high-tech security home features CCTV cameras and security beams, a wine cellar and tasting room for the discerning wine connoisseur and an art gallery complete with skylights, making it highly suitable for displaying prized artworks.
It also has an entertainment room, a Jacuzzi as well as a tennis court with floodlights.
Moodie Hill in Sandton has a property built in the 1940s with a selling price tag of R16.5 million.
The house, one of the original properties in the area is nestled in an English country garden among tall, mature trees, rolling lawns, flowering shrubs, plus water features and a pond.
PGP adds that would-be buyers loaded with cash view various properties on offer and find a distinctive home that reflects their personality and own individual lifestyle - no matter whether it is a modern masterpiece or an old classic. – Denise Mhlanga
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