Business Day HomeFront 09 October 2020

Page 1 Template BD_Homefront straussv 12:41:18 13/10/16

HOMEFRONT

Steyn City is redefining luxury city living and will soon be launching it’s new superlative luxu walkways lined with cafe’s, restaurants and pubs. Add in convenience shopping and boutique pool and a heliport on its northern side. Restrict all cars to a three-tier underground basem movement. Finally, surround it by 2000 acres of indigenous parklands. There is only one pla

Call: 010 597 1040 | sales@steyncity.co.za | Mark: 559.BDLIVE 2989.CO | Leanne: 072 078 9562 13 OCTOBER 2016082 WWW .ZA 9 OCTOBER 2020 WWW.BUSINESSLIVE.CO.ZA

Call: 010 597 1040 | sales@steyncity.co.za | Mark: 082 559 2989 | Leanne: 072 078 9562

KIDS & TEENS WONDERLAND | PRIVATE SCHOOL | SPORT & RECREATION | LEGENDARY GOLF | HOSPITALITY & RETAIL | LEIS

MUST-READ

WONDERLAND | PRIVATE | SPORT & RECREATION || LEGENDARY GOLF CITY LIVING | COMMERCIAL | INNOVATIVE INFRASTRUCTUREKIDS|& TEENS RETIREMENT | SCHOOL CONSERVATION SECURITY

CITY LIVING | COMMERCIAL | INNOVATIVE INFRASTRUCTURE | RETIREMEN

Floors and walls that spark joy PAGE 2

Here’s where you want to retire PAGE 8

Rabie’s new smart development PAGE 10

Waterfall Estates by Century Property Developments

Midrand flexes its muscles East Coast sees sales uptick PAGE 10

Value for money and a low interest rate are spurring on investors and first-time homebuyers to invest in Midrand, Gauteng’s new boom town halfway between Johannesburg and Tshwane

where families come to grow up

Come and see our newest suburb, The Village

10 & 11 October 10:00 - 16:00 Registration thevillage@steyncity.co.za

+27(0)10 597 1040 www.steyncity.co.za www.steyncit www.steyncity .co.za

STANDS

3m18m

PAGE 4

HOMEFRONT INTERIORS

True colours

Either keep it simple or add drama to your living areas with wallpaper, a fresh coat of paint or wooden floors for warmth

WORDS: SARAH MARJORIBANKS :: PHOTOS: DAVID ROSS, GREG COX AND SUPPLIED

S

pring has sprung, summer is around the corner and the easing of lockdown restrictions to Level 1 means everyone is out and about looking for ways to spruce up their homes. Moreover, would-be buyers on the hunt for a new home or investment benefit from the record-low interest rate and are spoilt for choice in the current buyer’s market. HomeFront looks at some of the best ways to update your walls and floors – do it right and you could be adding a breath of fresh air to your living environment and value to your property.

Tile stories Tiles give a room personality, with the added benefit of being easy to clean and maintain.

Neutral options abound, but consider expanding your horizons with textured tiles that beg to be touched.

Inspired by the decorative inlays crafted

by Italian artisans in the 13th and 14th centuries, the Intarsi range of ceramic tiles from Ceramica Sant’Agostino combines the contrasting looks of marble and wood.

Also from Sant’Agostino, the slender porcelain Colorart tiles evoke worn, weathered timber planks.

Both ranges are distributed

by Italtile and can be used for walls and floors.

Colour of courage Extensive trend research by AkzoNobel and other paint experts around the globe has revealed Brave Ground (code CF21) as the 2021 Dulux Colour Future Colour of the Year.

Considering that 2020 has been characterised by constant upheaval owing to the Covid-19 pandemic, it makes sense that Brave Ground imparts strength and serenity.

It can be combined with a range of complementary palettes and techniques to bring balance, stability and courage into our surroundings.

“This warm, natural colour provides a strong foundation for embracing change,” says Dulux SA colour expert Palesa Ramaisa. “Brave Ground stands on its own as a beautiful, powerful neutral hue and can be used in a way that allows other colours to shine.”

Dulux has put together four colour palettes, each of which takes the shade in a different direction: Expressive, Timeless, Earth and Trust (above), featuring complementary earth tones from around the world.

Simple yet striking Hardwood flooring is a timeless addition to any home. Looking out onto the Kromme River estuary, this summer retreat (right) in St Francis Bay took its design cues from Cape farm architecture and a fisherman’s cottage.

The home’s natural palette is the ideal backdrop for colourful furniture and statement objects, whereas the warm wooden floors

by Oggie Hardwood Flooring provide a sense of cohesion.

Oggie stocks an extensive range of wide-plank oak flooring and wall cladding options sourced from sustainable forests.

No wallflowers here “Wallpaper allows the discerning homeowner to create drama without the use of expensive art or framed prints,” says Cara Saven of Cara Saven Wall Design. “It can be used to dominate a space or give it depth, and always lends value to a home.”

The owner of this Franschhoek home wanted to add a touch of warmth using wallpaper, and a dramatic focal point for guests entering the house.

An oversized blue heron now lives in the lounge, with its surrounding landscape extending into the dining and drinks area. “It brought the whole openplan space together in the most sophisticated way,” Saven says.

“The bedroom is an oasis in this glamorous home and the owner’s husband had no problem with the use of oversized pink floral design over their bed,” says Cara. The pink and grey colour scheme is pulled together by the wallpaper (left). “The concrete background in the wallpaper contrasts beautifully with the softness of the flowers and creates an effect they won’t tire of in a hurry.”

Cool contrasts A designer client of Jenny Mills Architecture and Interiors decided on a dark interior for one of his properties after reading books by Anouska Hempel, a hotelier and interior designer known for her dramatic work.

To achieve the look, the walls were chipped back to expose raw brick and the ceiling was painted black, with parts given a rusty colour. In contrast, one wall was painted using a palette inspired by Ndebele art, accompanied by an eccentric take on an exposed electrical box (above).

“The home is set in a conservative Constantia enclave, so it’s an amusing and refreshing break to open the doors to this warm, dark interior,” says founder Jenny Mills.

A

PRODUCED BY BLACKSTAR PROPERTY PUBLISHING

EDITORIAL TEAM Editor: Debbie Loots Designer: Samantha Durand

Copy Editor: Christine de Villiers Production: Lucea Goosen

PUBLICATION ADVERTISING SALES Chantelle Balsdon Sabrina Ganter

chantelle@augmentcreative.com sabrina@thecreativegroup.info

084 061 7888 074 255 7455

HOMEFRONT HOT SPOT

Midrand flexes its muscles

Waterfall Estates by Century Property Developments

Value for money and a low interest rate are spurring on investors and first-time homebuyers to invest in Midrand, Gauteng’s new boom town halfway between Johannesburg and Tshwane WORDS: HELÉNE MEISSENHEIMER :: PHOTOS: SUPPLIED

O

ver the past couple of years Midrand has become a soughtafter area for investment in Gauteng. Centrally located with easy access to main roads, highways and the Midrand Gautrain station, its proximity adds to the appeal.

It is 20 minutes from Sandton and an hour from Tshwane.

Moreover, entertainment and medical facilities, excellent schools, shopping centres and places of worship are all within close range.

It seems residential property sales have received a boost owing to the Covid-19 pandemic. The work-from-home experience for many families, often with children who need space to play and study, made parents realise they require more spacious accommodation.

“Insufficient room to accommodate everyone’s needs when the whole family is at home most of the time has been a common frustration during the lockdown, already prompting many relocations to bigger homes,” says Chas Everitt International property group CEO Berry Everitt.

The current low interest rate, along with banks

being keen to approve home loan applications and a zero transfer rate on property of up to R1m, is further encouragement for investors and first-time homebuyers. And Midrand with its expanding range of affordable residential developments is one of the areas where people have found more spacious homes at the most affordable rates.

“Recently the area has experienced a property boom and it seems even stronger now, given the Covid-19 pandemic,” confirms Century Property Developments head of sales, marketing and operations Jessica Hofmeyr.

Developers report that freestanding homes and sectional title properties are particularly popular with buyers eager to find reasonably priced homes with space to work remotely.

Similarly, rentals offering free Wi-Fi – vital for work and home-schooling – are also in demand.

Investors can expect a solid return on investment in Midrand. According to data from Lightstone Property, sectional title prices in Erand Gardens, Noordwyk and Vorna Valley have shown consistent growth despite slow price growth nationally.

Security estates Working from home was already a growing trend before the Covid-19 crisis.

Even though lockdown restrictions have eased, it is expected that many people will continue working remotely and require a dedicated home space to do so.

As a consequence, developments with affordable freestanding homes are popular.

Anticipating an increased demand in this category, Craft Homes did a virtual launch of its new security estate The Woods in May when the country was in hard lockdown. These duplex homes sold out in four days, says Craft Homes marketing manager Jessica Cabanita.

“We did our research and knew freestanding houses would do well,” she says.

“Most of our buyers are young families looking to upgrade from an apartment.”

Prices at The Woods vary from R1.2m for a two-bedroom apartment to R2.19m for a three- or four-bedroom home. There is a waiting list should any of the two- and three-bedroom properties become available.

The Woods is next to the Kyalami Corner shopping

centre, with easy access to the N1 and good schools in the vicinity. The estate offers an 866m green belt where residents can walk their dogs, jog or cycle in safety.

Midrand is also popular among retirees who’d like to downscale to a smaller home in a safe environment close to shopping centres and medical care. Urban Ridge South Retirement Estate, for example, is located in Halfway Gardens, close to the N1 and on the Gautrain route. Lightstone lists it among the top three most popular retirement estates in the country, with 232 transactions since 2018.

Sectional title Sectional title properties, especially those below R1m, are in demand from first-time buyers and buy-to-let investors.

Research by Lightstone shows sectional title unit sales in Gauteng have risen from 53.6% of total home sales in the province in 2010 to 59.1% in 2019.

In 2019, properties priced below R800,000 accounted for 51.0% of total sectional title unit sales, whereas properties priced between R800,000 and R1.5m accounted for 36.1% of sales.

In Erand Gardens and Noordwyk, prices start from R420,000 for a bachelor apartment, R500,000 for a one-bedroom, R590,000 for a two-bedroom and from R850,000 to R1.150m for a three-bedroom unit. In Vorna Valley, which is more established, prices start from R680,000 and can vary up to R850,000 for a two-bedroom apartment.

According to Pam Golding Properties area specialists Fushai Runyowa and Reggie Toolo, there is increased demand particularly in Vorna Valley for twobedroom, one-bathroom apartments. There is also a shortage in stock of twobedroom garden units as most young families prefer these so that children can play outside. Rentals range from about R6,700 a month.

Nearby Steyn City has had an uptick in sectional title sales too. According to sales manager Lambert Bezuidenhout the apartments are especially appealing to buyers who want access to top facilities, the convenience of a lock-up-and-go lifestyle and additional space to accommodate a work-from-home setup.

“Factors contributing to the shift of sectional title sales into higher price bands include rising house prices and building costs, strong demand from first-time buyers entering the market and the growing lifestyle shift towards downsizing,” says Pam Golding Properties senior market and research analyst Sandra Gordon.

“This means homeowners across price bands embrace the benefits of a lock-up-andgo, live-work-play lifestyle.”

Mixed use

The Woods, a development by Craft Homes

An apartment at 104 on Creek, Steyn City

Being forced to spend more time at home than usual caused people to reflect on their environment choices.

Lifestyle estates offer residences on spacious, well-kept grounds, often with schools and a variety of recreational facilities on site.

Hofmeyr believes this is the reason for the increase in sales in areas like Waterfall Estates, where the development is centred around lifestyle facilities.

“The pandemic seems to have shifted people’s perceptions, turning one’s home environment into a bigger priority than driving the latest model car, for instance,” she says.

Steyn City’s new residential development The Village is another offering for families in Midrand looking for alternative lifestyle options. It is located within walking distance of the estate’s schools and close to recreational facilities including an indoor aquatic centre, an equestrian centre and the Dino Dig park. Stand prices range from R3m to R18m.

Even though the country’s rental market is under pressure, Midrand estates remain sought after for rental accommodation. Hofmeyr reports a sharp increase in demand at Century Property Developments, whereas Bezuidenhout says although Steyn City apartment rentals have dropped slightly to accommodate tenant expectations, they are still attracting high prices and good returns for larger homes, which are achieving more than R100,000 in monthly rentals.

Despite the muted growth in house prices in most parts of the country recently residential developments in Midrand show a healthy increase in value. For example, twobedroom apartments that sold for R950,000 in the award-winning Waterfall Ridge development two years ago are now selling for R1.1m. According to Cabanita, most of the 294 apartments here have sold out and Phase 3 of the development is being registered.

“The future of property investment in Midrand is definitely looking bright,” she says.

With the interest rate currently at 7%, the lowest it has been in decades, and the Reserve Bank expected to keep it low for a while to help rebuild the struggling economy, this is a good time for property investors and first-time home buyers to buy property in what is fast becoming Gauteng’s new boom town.

R200K DEAL ASSIST! WE’RE OFFERING UNBEATABLE VALUE TO THE FIRST 20 BUYERS

SALES LAUNCH 9-11 OCTOBER 2020

L I V E T H E U LT I M AT E E S TAT E L I F E S T Y L E

3&4 BEDROOM DUPLEXES FROM R3,999,900 NO TRANSFER DUTIES! Corner of R301 and Lustigan Road, Paarl (Opposite Paarl Golf Club)

LIFESTYLE CENTRE

LUXURY DUPLEXES

Facilities include a large swimming

Architect-designed family homes

pool & deck, fitness centre,

with cascading estate gardens,

laundromat, coffee shop, and

mountain vistas and secure living.

function room.

MONTESSORI SCHOOL Give your children a head start with world-class education within the estate grounds catering for up to 150 learners.

Roger Ramos 071 605 5902 roger@teamramos.co.za

Terms and conditions apply.

where families come to grow up

Come and see our newest suburb, The Village

10 & 11 October 10:00 - 16:00 Registration thevillage@steyncity.co.za

+27(0)10 597 1040 www.steyncity.co.za www.steyncit www.steyncity .co.za

STANDS

3m18m

HOMEFRONT

Nova Stella in Shakas Rock on the KwaZulu-Natal North Coast

RETIREMENT FOCUS

Where the 60+ crowd wants to retire When comfort, aesthetics, technology, design and health precautions come together smartly in a retirement estate, you’re all set WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED

E

ase into retirement gradually by finding a home that provides for your current and future lifestyle needs. The rest will then fall into place. This is the advice future retirees are given. Yet deciding on a place to settle can be stressful, with concerns about hidden costs or feeling isolated from friends and family. Affordability, quality of life and safety concerns are often top of mind too.

Some downsize to a smaller home or townhouse, then find they have to move again as their mobility or health needs change.

Residential estates are a one-size-fits-all option for retirees who want community living in a secure environment. Some cater for multiple family and retirement phases. According to Devmark Property Group national sales manager Bruwer de Jager, the success of its Retirement Collection lies in offering everything.

“Location is of paramount importance.

Our developments The Plettenberg Manor, Helderberg Manor and Langebaan Manor are close to beaches, shops and restaurants,” he says.

“Amenities usually include a clubhouse, a hair and beauty salon, a coffee shop, a gym, assisted living suites and 24-hour care – all in landscaped gardens.” He adds that garden and cleaning services make a lock-upand-go lifestyle achievable.

SAFETY FIRST Retirement villages limiting visitor access and insisting on gate deliveries for groceries during the pandemic also highlighted the importance of top-notch health security. It’s why Evergreen has undergone a redesign of safe spaces for its seniors. The developer looked at how higher-risk groups of retirees interact in communal areas and explored aspects such as physical security, financial peace of mind, hospitality and continuous care.

Evergreen Lifestyle

Evergreen Broadacres Lifestyle Village in Johannesburg

Villages MD Garry Reed says they learnt from being forced to shift to virtual interactions.

“During the toughest lockdown period, we had to relook onsite logistical procedures such as residents’ health monitoring and moving nurses to live inside villages,” he says. “We had to reconsider how we operate daily, with clear definitions of shifts, roles and responsibilities. The way we approach design and layout now takes safety into account even more.”

Touchless access control was also implemented.

“Evergreen is continuously looking to improve the lifestyle and welfare of its residents through a combination of design development, innovation, technology and operations,” says head of developments Julie Morelle.

Units have been redesigned to be more compact yet still offer comfort and quality. All homes have a private balcony or garden – in addition to communal recreational areas such as walkways, bowling

greens, boules and tennis courts and vegetable gardens.

“At Evergreen we embrace flexibility, designing more yet smaller amenities for socialising. We are fasttracking the integration of technology: access control and communication with the outside world,” says Morelle. “We have since incorporated ‘hotelification’ as a diversified standard, as well as on-demand services adapted to our residents’ needs and requirements.”

VOLUME AND VALUE A recent Lightstone Property survey investigated trends in the retirement property industry. It found that, of the total volume of retirement properties transacted across SA in the past decade (2009-2020), the majority of transfers (2,883) were conducted in 2013 in Gauteng, with the Western Cape peaking slightly in 2017.

This might explain why Evergreen’s Broadacres Lifestyle Village in Johannesburg is described as a firm favourite by sales

The rooftop herb garden at Quadrant Gardens in Claremont, Cape Town director Phil Wilson. It comprises 144 houses, all sold out. Another 48 one- and two-bedroom apartments were recently launched.

Lightstone head of real estate Esteani Marx says it’s not surprising that Gauteng has had the most transfers in volume terms but notes that, when looking at the value bands in the retirement category, “the view is rather different”.

From 2015 until late 2019, transactions in higher value bands began to climb in the Western Cape. The variance in value between this province and its closest competitor, Gauteng, was more than R1m during 2018.

Compared with KwaZuluNatal sales, the difference was more than R2m.

Rabie Property Group has had much demand for its upmarket retirement estate homes situated near family homes within Clara Anna Fontein Lifestyle Estate in Durbanville. Launched in 2018, Phase 1 of the Oasis Life development is nearing completion and includes 58 houses and a R25m clubhouse that is scheduled

to open in December.

A restaurant, healthcare suites, a library and an event space will complete the offering at Clara Anna Fontein and set in motion its hospitality-based lifestyle, according to Rabie director Miguel Rodrigues.

Geographic appeal is a nobrainer, says De Jager. “The Western Cape offers some of the most beautiful scenery in the world. Furthermore, it is run effectively, which makes it more attractive.”

Bev Bloch, manager of the Pam Golding Properties specialised Southern Suburbs retirement sales team, says there is considerable interest in Quadrant Gardens, a lifestyle retirement development in Claremont, Cape Town. She describes it as “hotel-style luxury with all the comforts of home”.

Facilities include threecourse lunches, a concierge service and communal spaces such as a rooftop garden and a croquet lawn.

A few of the 74 apartments are still available, priced from R3m to R6.4m for one- to three-bedroom units. Quadrant Gardens is

a joint venture with private developer Corevest. “All apartments are sold on a life rights basis through the Cape Peninsula Organisation for the Aged, which is responsible for rates, security, maintenance and building insurance,” says Bloch.

This year, Lightstone singled out Burgundy Estate as one of SA’s top 10 retirement estates for the 60-plus market. Oasis Life Burgundy Estate is in its first phase of construction, with 24 houses and 33 apartments to be completed by mid-2021.

NORTH COAST APPEAL Retirement property investment trends generally lean towards the Cape or other coastal locations, but Rainmaker Marketing’s independent research shows 36% of the market had a preference for greater Ballito in KwaZulu-Natal.

“The epidemic resulted in a huge shift in priorities, with a move towards estates that can fulfil lifestyle needs in a safe, controlled environment,” says Rainmaker Marketing director Stefan Botha.

The demand for North Coast property is robust, he reports. “And it will continue to grow as development moves northwards and more retirement-focused estates emerge.”

Nova Stella in Shakas Rock, for instance, is a luxury estate for over-50s with 53 modern pet-friendly apartments. Two-bedroom, two-bathroom options start from R2.195m.

Marx says estate living is the most popular option in the Western Cape, whereas sectional title is the most sought-after in Gauteng and KwaZulu-Natal.

De Jager believes value for money makes all the difference, even at the more exclusive end of the market.

“I think freehold villages such as Langebaan Manor will outperform life rights schemes,” he says. “The development offers authentic West Coast architecture with 10 house types.”

These range from R1.87m to R3.445m, including VAT and transfer duties.

“Location is key,” De Jager says, “but it’s our price point that sets us apart.”

F R O M R 960 000

O F P H ASE O NE O N L AU NCH W E E K E ND

HOMEFRONT PROPERTY NEWS

Rabie launches smart development in Cape Town R abie Property Group has just launched Bow Tie, its first smart-enabled residential development built around green and smart design principles.

Situated in Burgundy Estate in Cape Town, Bow Tie consists of contemporary designed apartments and townhouses with open-plan living areas.

Surrounded by landscaped gardens, it also has private and secure parking, solar panels and high-speed fibre.

Yet what sets Bow Tie apart is the cutting-edge technological advantage all the homes are equipped with. According to Rabie director Miguel Rodrigues, people’s lives have become integrated with technology and so could their homes.

As Rabie’s first smartenabled development, every Bow Tie home has its own Google Nest Hub loaded with the latest Google Assistant.

“You can add as many modules as you like, whether you want it to control your lights, regulate the interior temperature or operate your TV,” says Rodrigues.

“We’re also fitting each home with an intelligent home security system manageable from a smartphone. Designed for modern living, the integrated app will give you peace of mind that your home is safe whether you’re there or not.”

Apartment prices start from R845,000, whereas a three-bedroom townhouse with a private garden is available from R1.88m (all prices include VAT).

The first phase, launched on October 1, will consist of 48 apartments and 12 houses. The development will eventually comprise 88 apartments and 18 townhouses around a green park with a children’s play area.

Burgundy Estate has become a soughtafter multigenerational estate with a variety of amenities including its own convenience shopping centre, Burgundy Square.

With additional investment from local government and the developers in the upgrade of the arterial roads surrounding Burgundy Estate, as well as the new Richmond commercial development, the entire node is progressing well.

Competing buyers push up asking prices B

Devmark addresses housing shortage T here’s an urgent need for affordable housing in Cape Town, especially in locations close to schools and universities, urban hubs, transport and amenities, says Devmark Property Group national sales manager Bruwer de Jager.

Working with government, Devmark responded to this shortage by launching The Glen, an integrated housing project in Glenhaven, Bellville South, Cape Town.

The 63 one-bedroom and two-bedroom apartments priced from R640,000 to

R895,000 are designed to maximise natural light and have quality finishes such as aluminium windows, built-in cupboards and granite kitchen tops.

The development is close to public transport, the University of the Western Cape, the Cape Peninsula University of Technology, schools and various economic centres.

According to Meyer de Waal, founder of My Bond Fitness and a director of MDW Inc attorneys, The Glen is aimed at helping qualifying first-time buyers onto the property ladder

with the assistance of government’s Financed Linked Individual Subsidy Programme (Flisp).

“A Flisp subsidy amount for a qualifying buyer at The Glen ranges between R27,960 and R121,626, depending on the joint household income of the applicant, with a maximum allowable monthly income of R22,000,” says De Waal.

“It is perfect for young couples and families looking for affordable, secure, well-located and cleverly designed accommodation, and an ideal investment opportunity,” he says.

Another benefit of this integrated housing project is the improvement of infrastructure to the greater Bellville area and surrounds.

Before this development launched, only 10% of properties in Glenhaven were sectional title apartments or townhouses.

Moreover, there are very few properties available for rent in Glenhaven, says De Waal.

“You can’t go wrong here – it offers everything the first-time homebuyer needs and promises to become a valuable asset over a few years.”

uyers competing for sought-after homes priced below R2.5m are pushing up asking prices in some instances, according to fixed-fee agency Eazi Real Estate.

“Not only are asking prices in this price band readily being achieved, sometimes they’re also exceeded. These highdemand properties sell in one or two days,” says Eazi Real Estate CEO Richard Day. “This happens when buyers submit competitive offers, resulting in

properties being sold for more than the asking price.”

According to Day, Eazi sales have increased by 166%, 366% and 200% respectively for June, July and August. Although it sells most homes in less than 30 days, some properties are now being snapped up in just a few days, he says.

“Given our business model and technological capabilities, we were well positioned and ready for lockdown. Our online systems were already in place, so we could adjust

to the new regulations quickly,” Day says.

“Our offer and administration processes have always been online, and more and more buyers and sellers are benefiting from this capability.”

With a record-low interest rate and no transfer duty payable on properties up to R1m, many of Eazi’s buyers are first-timers and young couples or families, including those upsizing or downsizing.

This trend is underlined by mortgage originator Ooba,

whose first-time buyers comprised 53.4% of total mortgages in August.

Says Day: “The interest rate drop has had a marked impact on the number of buyers who have decided to buy rather than rent. In addition, we’ve concluded a few linked sales where owners are upscaling and therefore not only selling their property but also buying a bigger property. And in the sectional title market we’re seeing an appetite for homes with gardens.”

This Fish Hoek home sold for R2.75m

East London and Port Elizabeth see sales uptick P

This smallholding is priced at R11.995m in Sardinia Bay, Port Elizabeth

am Golding Properties in the Eastern Cape hubs of Port Elizabeth and East London reports escalating residential property sales across all price ranges since June.

Stands are also selling in both cities, suggesting a demand for new homes.

While the housing market here underperformed compared with the national market during much of the past decade, it has had stronger growth since late 2017, says Pam Golding Properties senior research analyst Sandra Gordon.

According to Pam Golding Properties area principal in East London Sean Coetzee, people are spending more time at home owing to the Covid-19

pandemic and many are selling to upscale to larger properties or moving to more expensive areas closer to schools, beaches and other amenities.

He says investors, too, are buying property because they perceive a better return on their investment in this asset class.

Top-end sales are seen in Nahoon Mouth, Glen Gariff and Beacon Bay, where a home recently sold for R6.35m. Properties up to the R2m mark are in high demand too, with areas such as Vincent and Beacon Bay fetching prices of between R1.6m and R2.2m.

People buying in East London are mostly from the Eastern Cape areas such as King William’s Town and

Mthatha, motivated by work transfers or seeking better schooling, says Coetzee.

“Many first-time buyers who were renting are now buying because the low interest rate makes it more affordable.”

Secure lock-up-and-go properties remain sought after, with sectional title sales increasing at prices ranging between R1.1m and R1.3m for a twobedroom townhouse in a cluster development.

Pam Golding Properties area principal for Port Elizabeth Justin Kreusch says family homes are in demand here. Buyers are mostly locals either trading up or scaling down, and a small percentage of professionals relocating from other major centres.

Says Kreusch: “We have had unprecedented activity in areas such as Richmond Hill, Walmer, Summerstrand, Lorraine, Glendinningvale and Mount Croix.

“Sales at the top end of the market include a 520m 2, four-bedroom home in Little Walmer Golf Estate for just under R7m.”

Port Elizabeth has not experienced the expected countrywide buyers’ market amid Covid-19. Instead, Kreusch says, well-priced properties are not staying on the market for more than a few weeks. “A property we thought would fetch about R2.1m eight weeks ago was priced at R2.4m and achieved full asking price a month later.”