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This home in Camps Bay was sold by Seeff Property Group last year for R52 million. It offers spectacular ocean and mountain vistas across Camps Bay and beyond, and is built on the slopes of the Table Mountain reserve. The six bedrooms are all en suite and sea-facing. The garden has its own gate leading on to walking trails. It also has staff accommodation. PICTURE: SEEFF PROPERTY GROUP
Paying a premium for luxury
Buyers, both South African and foreign, are willing to cough up for a home that offers views, sustainability and access to facilities BY BONNY FOURIE bronwyn.fourie@inl.co.za AND JURA KONCIUS
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OUTH AFRICA’S favourable exchange rate, natural beauty and good weather make it desirable for foreign property buyers looking to live, holiday or retire in luxury. Even though their euros, pounds or Swedish krona could buy them beautiful properties in their home countries, the opulence South Africa’s luxury properties offer, in addition to the climate and scenery in our high-end suburbs, makes buying here an easy choice. Contrary to public perception, though, says Nick Gaertner, director and chief operating officer at Knight Frank, 90% of buyers of luxury homes in Cape Town, Franschhoek and Stellenbosch are locals. The main demographic of buyers are people in their 40s and 50s with children at school and university. Samuel Seeff, chairperson of the Seeff Property Group, agrees: “Although there has been a massive uptick in sales to foreign buyers over the past year, about 80% of luxury homes have been bought by South African buyers. “On the Atlantic Seaboard in Cape Town, sales above R20 million were made predominantly to local buyers, but also to wealthy buyers from
Johannesburg, KZN and other inland areas.” Whether local or foreign, luxury-home buyers want prime locations and views, and are prepared to pay a premium for them, says Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl. “This trend is echoed in the high demand for estate homes and relatively high prices paid, not just in Cape Town, but also the estates on the KwaZulu-Natal North Coast, such as Zimbali.” He says some of the latest trends in luxury home design include integration with nature and features that maximise a property’s location. Home automation, green features including water storage, grey-water systems and solar heating are among the standout features in many of these homes. “Private lifts for multi-storey homes, generous use of glass to ensure maximum views and spectacular indoor/outdoor flow to maximise South Africa’s lifestyle are also luxury features, as are wine cellars, gyms, yoga studios, multi-car garages and even car-wash bays.” Rory O’Hagan, chief executive of Chas Everitt International’s Luxury Property division, says luxury buyers are looking for l Continued on next page...
For € 3.15 million (R54.3 million), a buyer could get this 950m², eight-bedroom, seven-bathroom villa in Herrieden, Germany. The property, listed by Re/Max, is described as having “many development possibilities”. It features a sauna, small gym, wood cellar bar with wine cellar, kitchen, library, four terraces, four garages and a lift. PICTURE: RE/MAX
