SA Affordable Housing September / October 2020 | Page 19

PROJECT
‘Suburban’ affordable housing
By Eamonn Ryan
Notwithstanding South Africa’s economic woes, historically low interest
rates mean that one of the trends Cosmopolitan Projects has been
noticing at its Westview 2 Security Estate, is a market desire to up-spec
the traditional affordable house.
COSMOPOLITAN PROJECTS
The Westview 2 Security Estate in the northwest of Pretoria
covers a price range from R856 000 (45m 2 ) to R1.4-million
(149m 2 ), the most popular option being close to the
R1-million mark.
This affordable security estate is something new for
Cosmopolitan Projects. Though still a mass development,
it comes with the type of features usually associated with
security and lifestyle estates. Phase 2 will enclose 821 houses
(of which 449 are already occupied, 103 under construction
and the remainder still to be constructed) alongside the 495
houses already occupied in phase 1. The total development will
ultimately comprise 1316 houses and is due for completion
within the next 12 months.
This project reflects the big aspirational shift in the affordable
housing market of people wanting to move to affordable
suburban security estates.
The concept for Westview was originally a more affordable
one (see the ‘Sky City’ model in SA Affordable Housing May/
June issue). However, market demand was found to be for
something more upmarket than gap. “This market changes
incredibly quickly,” says Cosmopolitan Projects’ senior
marketing manager, Auret Vorster, “and the slowest seller
we have today is, in fact, the entry-priced unit.” Another
noticeable trend is a shift in the market’s preference towards
open-plan living, and Vorster explains that mid-development
they had changed the layout of some of the larger units to
make it more open-plan. This evolution came about as the
developer noticed that many residents were making internal
alterations to their houses breaking down the wall to the
garage to extend their living space. They would sacrifice
their garage for additional living space and replace it with a
double carport.
www.saaffordablehousing.co.za SEPTEMBER - OCTOBER 2020 17