13 OCTOBER 2023 WWW.BUSINESSLIVE.CO.ZA
Sweet dreams Sleep soundly with the help of a quality base set from House & Home See page 3
2 BLOK’S 2024 PROPERTY FORECAST | 4 IDYLLIC OASIS LIFE AT CENTURY CITY | 6 BOOM IN SEASIDE LIVING
FOCUS ON: BLOK PROPERTY DEVELOPMENT ADVERTORIAL
2024 Property forecast Blok CEO Jacques van Embden highlights the opportunities and challenges that will impact SA’s real estate market next year WORDS AND PHOTOS: SUPPLIED
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s we prepare to step into 2024, the South African property market fi nds itself at a crucial juncture. Whether you’re a potential homebuyer, investor or just curious about real estate, it’s essential to look at the property outlook for the upcoming year. Blok CEO, Jacques van Embden weighs in on the opportunities and challenges that will shape the next annual property calendar. “SA’s property market has always been a barometer of economic conditions, and 2024 will be no exception. The likes of lingering socioeconomic effects of the pandemic, high interest rates and stubborn unemployment figures will continue to impact market moves, and while experts predict that property prices may see modest increases next year, affordability remains a concern.” “But Stats SA reminds us that on the upside, building plans passed for residential developments in the Western Cape increased by 22.2% year on year to a value of R15.4bn (2022) and plans completed over the same period in the province increased 21.6% to R9.2bn,” says Van Embden.
EMERGING MARKET
‘ZOOM BOOM’
“Growth in sales along the Atlantic seaboard is a clear indication that even though the country has faced geopolitical instability, investors are still seeing the benefit of making long-term property investments along Cape Town’s unique band of suburbs located between the Table Mountain range and the Atlantic Ocean on the western coastline. In fact, the Western Cape has been touted as one of the most exciting emerging markets globally in the property sector.”
“Semigration”, or the “Zoom boom”, is also seeing a revival and is set to become more of a market driver in 2024. Buyers from inland cities will continue to move to coastal areas that are geared towards a slower, safer, quality lifestyle, in areas where municipalities are typically better run than those in other parts of the country”. “For those who don’t want to, or are unable, to make the physical move down to the coast, we will keep seeing the semigration of investment at work, as more buyers seek to invest in areas of huge growth potential,” says Van Embden. Another trend on the rise is sustainability — a highly conscious priority for consumers and companies that is no longer a buzzword but a necessity in the property sector. “As climate change shifts become life experiences across the globe, SA property developers, including Blok, are increasingly ensuring that buildings are equipped with energy-efficient solutions by means of solar installations. In 2024, we can expect more eco-friendly
REMOTE WORK He says one trend that is driving growth is the shift towards remote working, which has led to increased demand for homes with dedicated workspaces and green surroundings. Subsequently, areas with a strong focus on lifestyle amenities which combine the benefits of nature and the connections inherent in the city but still have an undeniable homely feel, are expected to thrive. About 80% of these sales have been in the Atlantic seaboard, especially areas such as Sea Point, Camps Bay, Clifton, Bantry Bay, Fresnaye and the Waterfront.
and energy-efficient properties to feature prominently in listings.” Speaking of listings, Van Embden says the Western Cape is a hotbed for buyers as they search for properties ranging from trophy homes to oceanside apartments, and everything in between across the province of the Mother City. Such attention will continue to be attracted from both local and international buyers, which will bode well for the property developers’ market in the coming year.
CONNECTED SPACES Sea Point serves as a prime illustration of the region’s burgeoning growth. It has transcended its reputation as merely a daytime haven and nighttime entertainment hub. Instead, it has emerged as a highly sought-after destination for individuals in search of connected living spaces, a trend that is further poised to significantly influence the real estate market in 2024. Says Van Embden, “The shift in property development, which extends the concept of living spaces well beyond one’s front door, encompassing vibrant restaurant-
lined streets, picturesque beachside walkways, inviting outdoor gyms and lush green spaces, has become an irresistible attraction for a diverse spectrum of buyers. This vision rings true for our next project — and Blok’s 17th building development — which is coming soon and will continue the central belief of connection that has always been the driving force of our brand. “Ultimately, while SA’s property outlook for the coming year carries with it some reality-based challenges, it also presents opportunities for those who are well-prepared and informed. Keeping an eye on economic indicators, government policies, interest rates and emerging market gaps will be essential to ensure that we all make sound property investment decisions.” Whether you’re looking to buy your fi rst home, expand your property portfolio or explore emerging markets, 2024 promises to be a year for those who are open to change and up for adaptation in South Africa’s real estate sector, says Van Embden. For more information on Blok’s upcoming 17th development, visit blok.co.za
ABOUT BLOK Blok is a property developer with a difference. Rooted in the foundation on which their developments stand, Blok operates on three core pillars: urban homes, urban living and design. Since its establishment in 2014, Blok has launched beautifully and intuitively designed urban apartment developments with a perfectly framed view of the world to explore beyond your front door. These are details that make each Blok development unique. Inspired by art, nature and community, Blok applies their learnings to every facet of the urban living experience. From the brand to the apartment spaces and buildings, Blok strives to create an experience that is as beautiful as it is practical.
Blok CEO Jacques Van Embden
FOCUS ON: HOUSE & HOME ADVERTORIAL
Heavenly sleep BASE SET BUYER’S GUIDE There are several factors to note when choosing a bed to suit your needs. Many buyers often focus on the aesthetics and practicality of bed bases, forgetting that therapeutic benefits should too be top of mind — as the impact on your spine will be long-lasting. FOR ONE, OR TWO? Choose a mattress with minimal motion transfer if more than one person will use the bed. Nighttime movement can be very disruptive to your partner’s sleep. A MATCH MADE IN HEAVEN
Doze off in luxury on one of House & Home’s expertly crafted, high-quality range of 152cm base sets selling for R5,999 as part of their Spring Promo WORDS: SUPPLIED :: PHOTOS: SUPPLIED
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omfort is just one benefit of a good quality mattress and, with the right bed, you’re likely to see a wealth of gains for your overall health. With sleep being such a vital element to maintain general wellbeing, it’s not an understatement to say that choosing the right mattress is one of the best decisions you’ll ever make. But while a comfortable mattress is essential for getting a great night’s sleep, pairing it with a quality bed base ensures that you will get the most out of this crucial household item. So, during the buying process it is important to weigh up not only the aesthetics and practicality of a bed base, but also the therapeutic aspects, as the benefits to your spine will be long-lasting and this is a decision that should not be taken lightly. Also note that a good base makes the world of difference to your mattress in terms of durability.
WIDE SELECTION Making the right choice when purchasing your product isn’t always easy, and sometimes it’s best left to the experts. That’s why House & Home’s range of base sets is carefully curated and fi netuned to maximise everything you need for peaceful slumber. Choose from a wide selection of 152cm base sets selling for R5,999 as part of House & Home’s Spring Promo. The House & Home selection is expertly crafted to suit any home. Match your base set with bedding as you choose from top of the range sets which include Edblo, Restonic, Lunar, Sealy and Maxipedic. There are plenty of options to suit all your needs.
selling at a special price for R5,999.00 (usual price R6,999.00). It features durable and luxurious knit fabric treated with argentum plus (ag+), and contains silver ions that absorb moisture, leaving you cool and dry. It has undergone antibacterial treatment to maintain a healthier and cleaner bed, and its super-soft support layers are integrated into the quilt design. Then there’s the virgin high density resilient foam, which supports pressure point relief. Plus, it’s reinforced with a double tempered Bonnell spring system with edge support which promotes back support and spinal alignment. The Lunar Neria is also single sided, and engineered for easy rotation. It has a 120kg weight limit. The EDBLO NYATI 152CM BASE SET is also on promotion for R5,999.00 (usual price R7,999.00). The Edblo Nyati offers a fi rm comfort support top, and is also manufactured with the dual Bonnell spring system, ultracare fabric, dual edge support and air vents. Great features of the EDBLO
NAMBITI 152CM PILLOW TOP BASE SET include a medium comfort pillow top, the Bonnell spring system, ultracare fabric, edge support and air vents. It’s selling at a special price for R5,999.00 (usual price R6,999.00) . Then there’s the EDBLO ESPRESSO 152CM BASE SET to consider for the price of R5,999.00 (usual price R7,499.00). Once again setting the scene for a night of full comfort is the dual Bonnell spring system, edge support, quality foam layers and ultracare fabric. For all the above base sets, get peace of mind with a one-year guarantee and a 10year service warranty. Delivery to your home takes between five to seven working days, or pick up your purchase from your nearest House & Home store within five to seven working days. There’s no place like House & Home for unbeatable value. Refer to their catalogue to view spring offers. Prices are valid until October 15. While stocks last.
MATTRESS THICKNESS A bed’s height is affected by mattress thickness. If you favour a bed with a lower profile, choose a bed set that features a thinner mattress. Don’t confuse thickness with quality and support. WHAT ROOM OF THE HOUSE? 152cm Edblo Espresso Base Set
Plan ahead. Consider an extralength set to cater for guests of various heights if the bed will be in the guest room. Resize your options if it’s for the children’s room. DO THE MATHS Evaluate whether you need a normal length or an extralength bed. Figure out the width requirements that allows two people to sleep comfortably. Remember to factor in pillow space and also having feet covered.
152cm Lunar Neria Pillow-Top Base Set
BED BASE TYPES There are a few different bed base types. These include wooden slat bases, ensemble beds, platform beds and futons. Decide what’s right for your specific needs.
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BASE SET SPECIALS Highlight base sets on promotion include the LUNAR NERIA 152CM PILLOW TOP BASE SET - now
A supportive bed base is the foundation on which the mattress sits, and correctly pairing the two isn’t always that easy. Purchasing a base set eliminates any room for error.
152cm Edblo Nambiti Pillow-top Base Set
152cm Edblo Nyati Base Set
FOCUS ON: OASIS LIFE CENTURY CITY ADVERTORIAL
Oasis Life comes to Century City Oasis Life Century City is an exciting new development situated on the edge of Ratanga Park. It promises an idyllic lifestyle tailored to the modern-age retiree WORDS AND PHOTOS: SUPPLIED
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abie Property Group, a prominent property development company based in Cape Town, has announced that their latest offering within the established Century City precinct will take the shape of a luxury retirement development. Oasis Life Century City is set to launch in November 2023, and promises an unmatched lifestyle tailored for the modern-age retiree. This experienced property developer, which has more than four decades of successful developments under its belt, believes that Century City is the quintessential destination for a retirement offering. According to Rabie Property Group, the unrivalled security, natural beauty and recreational opportunities are what position the 15-minute smart mini-city as the ideal place to retire.
A SECURE LIFESTYLE According to John Chapman, director of the Rabie Property Group, Oasis
Life Century City has been designed to seamlessly integrate with Century City’s natural beauty while offering a secure and enriching lifestyle. “This exciting new development is on the edge of Ratanga Park, a lush 16ha green space developed with an investment exceeding R100m. The park, meticulously maintained by the Century City Property Owners Association (CCPOA), serves as a pristine green lung for both residents and the public. Throughout the precinct, residents benefit from cycle-friendly avenues and an expansive 8.5km canal network, providing leisure opportunities such as canoeing, kayaking and scenic walking paths,” says Chapman. “Further to this, the Century City precinct features a state-of-theart security system, including 169 cameras, licence plate recognition, facial recognition, dedicated patrols and a 24/7 manned Century City Service Operations Centre (SOC), providing residents with total peace of mind.
Beyond Century City’s overarching security measures, individual developments implement their own security arrangements. Residents can also select their own preferred security measures within their units, adding yet another layer of protection. Security is one of the most important criteria for people looking to transition into retirement – especially in SA.”
VIBRANT COMMUNITIES Rabie Property Group’s impressive property portfolio showcases groundbreaking projects that have transformed Cape Town’s urban landscape, fostering vibrant communities where people live, work, play, shop and now retire. This success is rooted in their unique development approach, characterised by meticulous location selection that addressed genuine market needs. Chapman, who has been with the group for 35 years, and has been instrumental in the development of Century City for 20 years, explains
why he has chosen to retire in the new Oasis Life development. “Personally speaking, Oasis Life Century City provides everything I need, from freedom from home maintenance to delightful dining options. I can lock up and go without ever being concerned about my apartment when I’m not home. Our core mission is to allow retirees to continue to enjoy life without worrying about the mundane but essential dayto-day hassles of maintaining a home.” “The environment will inspire people to embrace each day with enthusiasm, while not compromising on the quality of life and activities they have access to just because they are getting older.”
CLUBHOUSE AND RESTAURANT The Oasis Life Century City Clubhouse will be the heart of the community and is set to feature a restaurant with an undercover outside patio or deck overlooking Ratanga Park. A Lifestyle Centre will be added to the estate in future phases. Under the leadership
FOCUS ON: OASIS LIFE CENTURY CITY
of Glyn Taylor, CEO of Oasis Life, who has 30 years of hospitality experience, Oasis Life Century City promises a hospitality-based lifestyle. A range of activities will be held at the clubhouse to ensure residents stay mentally and physically enriched. These include art classes, pottery and investment talks. “Our greatest asset is the sense of community we foster within our estates. From design and culinary offerings to encouraging resident connections, we ensure our estates and communities operate hand in hand,” says Taylor.
THREE SERVICES A proposed healthcare model based on three services will be available to residents from day one of occupation. The combination of a medical emergency response service, primary healthcare and homebased care cover the majority of needs a resident will have during their lifetime. The associated costs will be market related,
and residents will only be billed for the services that they require from time to time. Says Taylor, “Our healthcare model will assist residents regarding their primary healthcare needs and the management of chronic conditions. We will also be able to offer recuperative, frail, respite and memory care as well as palliative care, depending on the requirements of the resident’s family and medical advisers.” The fi rst phase of Oasis Life Century City launches on November 2 and will comprise an apartment block with 63 apartments and more than seven floors equipped with full backup power. A range of onebedroom, two-bedroom, garden units and penthouses start from R3m. These modern homes offer high-quality fi nishes, fibre-tothe-home connectivity and either Ratanga Park or Table Mountain views. The fi rst apartments will be ready for occupation mid-2025. Visit https://www.oasislife.co.za
ABOUT RABIE PROPERTY GROUP: Rabie Property Group is an independent, Cape Town-based property development company operating predominantly in the Western Cape. Since being established in 1978, Rabie Property Group has become one of SA’s leading property developers, creating new urban landmarks with award-winning residential, commercial, and mixed-use developments, innovative marketing and groundbreaking public-private partnerships. Rabie Property Group specialises in developing innovative living spaces for people and businesses looking for property in Century City and other parts of Cape Town.
HOMEFRONT PROPERTY
Seaside growth soars in the Cape The allure of seaside living has sparked a housing boom in the Western and Eastern Cape as buyers seek out the attractions these coastal towns offer WORDS: HOMEFRONT REPORTER :: PHOTOS: UNSPLASH
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ousing markets of towns in the Western Cape and Eastern Cape have become major drivers of property price growth over the past 12 months. This is as the demand for the coastal lifestyle reaches an all-time high. Bradd Bendall, head of sales at BetterBond, says that the Western Cape recorded the largest average home price increase over this period, which is 35% higher than the national average. A perennial top performer, the province has seen a 10% increase in property prices from August 2022 to the same time this year. While this performance is not unusual in the Western Cape — the country’s semigration hotspot accounting for 35% of all buyer relocation activity in the past year — it is noteworthy that the neighbouring Eastern Cape is showing similar house price growth. According to the September 2023 BetterBond Property Brief, house prices in the Eastern Cape have increased by just over 8%, recording the secondhighest increase year on year.
SMALLER SEASIDE TOWNS “The rise of the Eastern Cape, notwithstanding its natural beauty, unspoilt coastline and enviable lifestyle, seems almost counterintuitive,” says Bradd Bendall. Lightstone has reported that the province is one of
the most undesirable in the country, with slow population growth and limited economic opportunities. However, the Eastern Cape’s property boom is being driven by its smaller seaside towns offering great lifestyles for families relocating from Gauteng and other provinces. In July, Lightstone reported that property prices in the Eastern Cape are highest in the region’s smaller towns. Homes are selling for an average of R2.4m in Cape St Francis and R2.1m in St Francis Bay. “St Francis has seen a huge influx of new families moving into the area as semigration continues,” says Barry Davies, COO of Chas Everitt. Another popular holiday destination is Port Alfred, where the average sales price is R1.5m, says Bendall. By comparison, average house prices in Gqeberha are considerably lower at R840,000, according to data from Property24.
UPMARKET AREAS While the Eastern Cape’s exceptional performance in terms of house price growth and sales volumes comes off a relatively low base, the Western Cape is a long-term top performer. Davies says markets in this province attract buyers in the higher price bands. Cape Town is home to some of the country’s most upmarket residential areas, including Clifton and Bantry Bay on the Atlantic seaboard.
The province also attracts highnet-worth individuals who are able to spend many millions on property. These buyers look to the picturesque Boland towns of Franschhoek, Paarl and Stellenbosch in the Cape winelands area. The coastal town of Hermanus is the fastest-growing area in the province for high-net-worth individuals, according to the “Africa Wealth Report” for 2023 published by Henley & Partners and New World Wealth. The Western Cape has become the province of choice for home buyers looking to relocate, in light of its efficient service delivery and economic opportunities. It is also home to many excellent schools, some of the country’s best tertiary institutions and world-class medical facilities. Many of these assets are in Cape Town, rated by municipal financial sustainability index, Ratings Afrika, as among the top performing municipalities in the country. George and Mossel Bay also scored well, ranking first and third. As a result, these coastal towns have also enjoyed considerable growth in recent years, says Bendall, especially as hybrid working arrangements have become common practice for many. A renovated home at the Point, in Mossel Bay, recently sold for R39m, the highest price yet in the area.
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COMPETITIVE PRICES Bendall says that these popular coastal towns offer enviable lifestyles and competitive property prices and are no longer viewed only as holiday destinations. Although demand is driving house price growth, with Lightstone reporting a 7% price inflation of coastal properties compared with the 2.4% growth of prices of inland properties, they are still accessible to many buyers. “With so much to offer it is understandable that the number of people relocating to the coast has increased from 31% in 2018 to 46% currently,” says Bendall.
PUBLICATION ADVERTISING SALES
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084 061 7888 082 894 5617
CORAL COVE IS BREAKING GROUND!
E X T R AO R D I N A RY L I V I N G F O R T H E B E S T Y E A R S O F YO U R L I F E We are delighted to announce that construction has commenced for Coral Cove. With the July 2023 commencement date, move-in dates for residents will be before the end of 2024. All garden villas, apartments, communal areas and care centre of Coral Cove will be operational and complete, affording residents the opportunity to utilise the full array of Auria’s facilities and services. Coral Cove by Auria Senior Living is a 21-hectare continuing-care, purpose-built retirement community for over 70’s, situated on the magnificent KZN North Coast, within the safety and serenity of the Zululami Luxury Coastal Estate. 2 & 3 Bedroom Garden Villas from R3,6m 1 & 2 Bedroom Apartments from R1,69m
BOOK A TOUR OF OUR SHOW UNIT. Sales Enquiries: 087 537 0539 | coralcove@auria.co.za | www.auria.co.za
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