So says Adrian Mauerberger, Seeff Atlantic Seaboards sales specialist, who adds that "market activity in this sector has most definitely increased, and serious purchasers are coming to the fore".
"The main reason for this is the 'downscaling factor' with regard to upkeep and maintenance. Our buyers require a more lock-up-and-go lifestyle, with security as a significant drawcard," says Adrian Mauerberger, Seeff Atlantic Seaboards sales specialist.
"Apartment blocks offering large units (approximately 250sqm) with 24-hour manned security, concierge and views are acquiring significant interest. Over the last while we have seen numerous buyers wanting to move from their 800sqm homes along the Atlantic Seaboard to the more 'convenient' lifestyle which sectional title offers.
"We are also noticing that when the children in families have left home, the parents want a smaller property with less upkeep. However, purchasers are not willing to compromise on outdoor living and entertainment facilities, so apartments offering large terraces with open-plan entertainment allowing for indoor/outdoor living are regarded as superior and are very sought-after."
Mauerberger mentions some of the recent sales that were made were in the following apartment blocks (with listing prices): Florentia, Bantry Bay – R8,5m; Twin Villas, Sea Point – two units of R2,45m each; Serena Views, Sea Point – R5,5m; Ocean View, Sea Point beachfront – R4,695m (which was sold for more than full asking price); and Storleigh, Bantry Bay – R2,25m.
Other aspects that luxury apartment buyers are after are the very best finishes and amenities. Mauerberger say that the expectations of these buyers include: under-floor heating, air-conditioning, the latest kitchen trends (Poegenpoel), gas fireplaces, Jacuzzi's/lap pool, cinemas, automated security systems and direct elevator access.
Truss adds a word of caution for sellers. "Only properties that are well priced are selling. In some cases it has taken 15 months to get a seller to accept a realistic price. Also, sellers are committing to longer mandates now. Figures from the Residential Property Price Ranger show that on average a well-priced property is taking four months and longer to sell as, opposed to this time last year where sellers could expect multiple offers and conclude a sale in a shorter time period."
For more information contact Adrian Mauerberger on 082 826 6454.
Readers' Comments
Have a comment about this article? Email us now..
Looking for a new home?
To find a property to buy, visit Find a Property and view listings of properties in all areas. Check out Property Reports and get an affordable online report on actual sold prices of properties in your area.
Property News
Click here for more property news articles.
Need a blog?
Start your own blog with a free blog from 24.com.
Print
