Real Estate Investor Magazine South Africa March/April 2019 | Page 18

COVER FEATURE
Western Cape in general
Parergon
In the first six months of the year ( January to June 2018), there
were nine sales at the Waterfront marina and even the older
apartments, of 10 years and more, have sold for upwards of
R7 million because of their considerable investment potential.
A 16-year-old apartment in Parergon on Quay Road sold for
R20 million, with a R/m2 of R121 000.
169 on Main: Still under construction, 169 on Main is
perfectly positioned on the Atlantic Seaboard’s ‘Silver Mile’
in Green Point. The luxury apartments start at R3.65 million.
Harbour Arch: This new mixed-use development in the
upcoming Foreshore area will provide the largest selection of
residential apartments in the CBD. Apartment sales in No 1
Harbour Arch have passed the R1 billion mark, with over 96%
sold.
Silo: As traffic congestion escalates, people are looking to
live in self-contained nodes that offer security, convenience
and easy access to popular attractions, such as the Waterfront’s
Silo District.
Pinelands Grove: Self-catering apartments in Pinelands
Grove are well priced, started from R495 000 to R575 000
for a studio unit.
Obscourt: Well-located in Observatory close to various
tertiary institutions including the Groote Schuur Hospital
and the University of Cape Town, Obscourt is proving popular
with students and young professionals.
16 on Bree: which includes formal meeting and hot desk
spaces to accommodate residents who want to work remotely
but still be close to their homes.
Richwood, Bothasig and Burgundy Estate
Richwood, Bothasig and Burgundy Estate for example offer
plenty below R1.5m. The areas have easy access to the N7
and N1 and are close to the Table View, Milnerton, Blouberg
and Century City areas making them sought-after options
for budget-conscious buyers according to Johan Jacobs, Seeff
licensee for the areas.
In Bothasig and Richwood, you can find a house in the
R1.3m-R1.5m price range while Burgundy Estate offers
apartments from R1m, houses from R1.8m and rentals from
R8,500/month.
Mitchell’s Plain, Capricorn Beach Estate and
Costa da Gama
Cape Town’s South Eastern Suburbs also offer great
affordability according to Gary Grobbelaar, CEO for Seeff
False Bay and SE Suburbs. Mitchell’s Plain for example offers
excellent small houses in the R500,000-R900,000 price range.
Adjacent to Muizenberg, at the bottom end of the M5, you
will find Costa da Gama and the Capricorn Beach Estate,
both offering excellent affordability, he says. Capricorn Beach
Estate offers several developments with a mix of apartments
and townhouses in a secure setting with play parks for
children, two swimming pools and a walkway to the beach.
Prices range from around R1.2m for a small two-bedroomed
home in the estate.
Costa da Gama also includes a number of developments
such as Villa d’Algarve, a beach front estate where you can
buy a three-bedroomed ground floor apartment for R1.2m
according to Seeff agent, Paul de Roos. Sunrise Villas offers a
temperature controlled swimming pool and apartments in the
R850,000-R950,000. A little further back, you can find a three
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MARCH/APRIL 2019 SA Real Estate Investor Magazine
bedroomed home for R1.3m in Cannon Island Villas.
Brackenfell, Kraaifontein and Kuilsriver
Karla Coetzee, Seeff ’s Manager for the Brackenfell,
Kraaifontein and Kuilsriver areas says that although it is a bit
of a commute to the city and beaches, it is well worth it for the
price paid per square meter.
Prices start at around R500,000 for a flat in Kuilsriver (St
Dumas) and upwards of R980,000 for houses (Highbury and
Hagley). Kraaifontein apartments start at R650,000 (located
in well-known estates) and spacious houses from  R850,000
(Belmont Park, Peerless Park East  and  West) while homes
near Cape Gate Mall start from R1.4m. Brackenfell flats are
popular therefore they range from R750,000 and townhouses
at R1.5m.
Plattekloof
Spacious plots, sizeable houses, fabulous views and close
proximity to the city are some of the reasons why many high
net-worth professionals and families are now choosing to
buy in the Plattekloof area according to Johan Jacobs, Seeff ’s
licensee for the area.
The result is that Plattekloof property values continue to
appreciate and the suburb now ranks as one of the top three
suburbs of the Cape Town North area, attracting some of the
highest prices, boosted by the Baronetcy Estate.
These days, it is not uncommon for luxury buyers to pay
well into the upper millions for a luxury home on a big sized
plot and we are beginning to see average prices of R4m-R10m
in the northern suburbs, he says. High net-worth buyers are
seeing these areas as a more laid-back alternative to the busy
City Bowl suburbs and the pricy Southern Suburbs. They get
more bang for their buck here, says Jacobs.
Lightstone shows that the Plattekloof property market has
remained steady.
  There is also a good mix of sectional title and freehold
property on offer in the area (and its extensions) along with
security estates such as Baronetcy Estate, Leopard Rock
Estate, Kleinmeer Estate, La Vie and complexes such as Villa
Caponero, Little Rock, Silwerkloof and Plattekloof Gate.
While top prices of R20m-R30 million are becoming more
commonplace, especially in Baronetcy, the average price of
freestanding houses range from around R5 million to about
R10.85m for a large five-bedroomed home with a separate flat
on a plot of 1236sqm.
In the complexes, you can expect to pay upward of R2.7
million for spacious two to three bedroomed homes. There is
also still some vacant land available in the area.
Jacob says that access to excellent schools is another big
draw-card for upper income families.
The CBD’s new kids on the block
Developed by the Amdec Group, South Africa’s leading
developer of New Urban lifestyles, The Yacht Club is located
within the Roggebaai Canal precinct just outside the V&A
Waterfront; it comprises 170 luxury residential apartments,
6307m2 of prime office space, and the AC Hotel Cape Town
Waterfront.   
EIGHTONN’s by Blok
Located between the tranquil Atlantic Ocean and vibrant
Main Road, this development provides convenient access to a
number of public amenities that encourage an active lifestyle
such as sandy beaches, tidal pools, a promenade perfect for
sunset strolls and a bustling abundance of eateries and shops
lining Sea Point’s main strip.