Business Day HomeFront 16 November 2018

HOMEFRONT

Property Investment Special Focus

13 OCTOBER 2016 WWW.BDLIVE.CO.ZA 16 NOVEMBER 2018 WWW.BUSINESSLIVE.CO.ZA

MUST READ

Retirement: estates widening the net PAGE 18

Priciest properties and parking bays PAGE 26

Mauritius: Africa’s happening place PAGE 28

Tapping into the logistics trend PAGE 36

Sectional title bucks the trend The appetite for sectional title property in SA is growing faster than the demand for freestanding homes. This is driven by a quest for security, lifestyle, convenience and affordability

PAGE 4

AUTHENTIC R ESORT L I V I N G

...and 100 more reasons to prove it...

Discover a new way of resort living within 2000 acres of beautifully manicured parkland.

With access to world class facilities including an 18 hole Nicklaus Design championship golf course, equestrian centre, resort pool, off-and-on-road cycle tracks, dedicated 18km pedestrian boulevard, outdoor gyms, tennis, fishing, a skate park, wonderland play zones, restaurants, future city centre and over 100 reasons to make this destination your new dream home.

But, nothing we show can prepare you for what you will see. So book your exclusive viewing adventure on-line and experience authentic resort living.

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

steyncity.co.za

KIDS AND TEENS WONDERLAND • PRIVATE SCHOOL • SPORT AND RECREATION • LEGENDARY GOLF HOSPITALITY AND RETAIL • LEISURE • EQUESTRIAN • CITY LIVING INNOVATIVE INFRASTRUCTURE• COMMERCIAL • RETIREMENT • CONSERVATION • SECURITY

HOMEFRONT MARKET WATCH

Sectional title bucks the trend S The appetite for sectional title property in SA is growing faster than the demand for freestanding homes. This is driven by a quest for security, lifestyle, convenience and affordability.

WORDS: MIRIAM MANNAK :: PHOTOS: SUPPLIED

Carlswald Luxury Apartments, Midrand

Oasis in Steyn City, Midrand

ectional title purchases in SA have grown by up to 5% a year since 2003, a recent Lightstone Property report shows. The demand for freehold property, on the other hand, has shrunk year on year: in Q3 2018 alone, the number of freehold transactions dropped 6.9% while sectional title sales rose 0.3%.

Stats SA’s most recent building statistics confirm this trend: while there was 16.7% less overall building in Q2 2018, flats and apartments were the only categories that showed growth.

Jessica Hofmeyr, head of operations, sales and marketing at Century Property Developments, is not surprised. First, it is easier to source finance for sectional title property.

“One can have bonds of up to 100% approved provided the property is located in a desirable area,” she says, noting that developers prefer building sectional title units to freehold homes in sought-after areas where land is expensive.

“This makes a project

more financially feasible.

What also drives this growth is location and amenities in the area, including proximity to schools, shopping centres, hospitals and access to highway infrastructure.”

Gauteng Craft Homes marketing manager Jessica Cabanita agrees. “Sectional title homes are usually less expensive and provide less hassle because one typically buys off plan,” she says.

Sandton Gate, overlooking the Braamfontein Spruit green belt, offers 137 open plan units that start from R2.95m for a twobedroom apartment and reach R8.15m for a fourbedroom penthouse.

“Amenities include concierge services, Miele appliances and home automation, all included in the price,” Cabanita says, adding the Green Building Council South Africa has selected Sandton Gate as a pilot project for one of SA’s first green-rated precincts.

Steyn City is another sectional title hotspot.

Comprising one- and twobedroom units priced from R1.9m and three-bedroom

apartments from R4m, the complex is all about lifestyle. Facilities include running tracks, play nodes, skate parks, outdoor gyms, mountain bike trails, a pool, an 18-hole Nicklaus Design golf course, an equestrian centre and dining options.

“Then here is the convenience of living on the same premises as our excellent Steyn City School and soon-to-be-launched commercial office park,” says Steyn City Properties CEO Giuseppe Plumari.

DEMAND Bryanston is also showing a healthy sectional title demand, with more developments coming online each year. Projects that will launch soon include Porchester Road, which features 29 sectional title duplex homes, and Central Park — both developed by Zotos Property Group. The latter comprises 24 units, including some ground-floor properties with gardens.

The appetite for sectional title property is also rising outside the city and its suburbs. Take The Lakes at Whistling Thorns at Serengeti Estates in Kempton

HOMEFRONT “South African buyers are becoming more accustomed to apartment living and we have seen a trend towards this and away from the traditional freestanding home” Kent Gush, MD, Kent Gush Properties

Park, where phase 2 was launched earlier this year.

The development, once completed, will boast 108 two- and three-bedroom units close to the prestigious Serengeti Nicklaus Signature Golf Course, pro shop, golf academy and other facilities including the Curro Serengeti school.

When talking about Gauteng’s sectional property hotspots, Waterfall near Midrand must be mentioned due to its plethora of prime security lifestyle developments, including

Kikuyu Waterfall. Developed

by Balwin Properties, this block of fibre-ready apartments, which sell from R849,900, features a wide array of communal facilities including a gym, spa, children’s play area, restaurants, sports field and squash court.

COMPLEX Newest kid on the Waterfall block is Ellipse Waterfall.

Launched on November 1 as the first high-rise luxury apartments in the area, the development comprises

Soho Lofts, Fourways, marketed by RE/MAX One Hundred four towers. They include executive one-bedroom apartments to threebedroom duplex penthouses with private rooftop gardens and heated pools.

“We have seen a strong investor demand for the onebedroom apartments and a good end-user demand for our two-bedroom apartments,” says Kent Gush, MD of developer Kent Gush Properties, noting that onebedroom apartments are priced from R1.49m.

“We have also sold two penthouses for R11.3m and R11.975m.”

Besides luxury units, Ellipse’s amenities include concierge services, 24hour security, fibre, laundry services, a business centre, a children’s game room, a whisky lounge, a library, restaurants and wellness facilities. This is deliberate, says Gush: “South African buyers are becoming more accustomed to apartment living and we have definitely seen a trend towards this and away from the traditional freestanding home.”

The Aster, Oranjezicht in Cape Town

Western Cape While Cape Town’s overall sectional title demand is strong, Horizon Capital Residential MD David Sedgwick says it has slowed, citing the water crisis, political environment and economic uncertainty.

The Atlantic Seaboard

Burgundy Estate, Cape Town PRODUCED BY BLACKSTAR PROPERTY PUBLISHING 1st Floor, Block H, Sable Square, Cnr Bosmansdam and Ratanga roads, Milnerton, Cape Town 021 447 7130

A EDITORIAL TEAM Editor: Kim Maxwell Designer: Samantha Durand

and the City Bowl, however, remain popular due to their location and what they have to offer. “These areas will continue to be supported by the influx of people wanting to live closer to the city,” says Sedgwick.

Horizon development The Aster launched in Oranjezicht this week. Close to Table Mountain, the V&A Waterfront and Camps Bay, the block will comprise 21 studio apartments, one- and two-bedroom apartments and penthouses. A studio apartment is just less than R2m and includes a parking bay. “This is unique for a boutique development in such a prime location,” Sedgwick says.

NORTHERN SUBURBS The northern suburbs is faring well from the sectional title point of view, with MSP’s Buh-Rein Estate a prime value-for-money target. As a registered independent suburb, the 87ha development provides a live, work, play environment that doesn’t break the bank: here, a three-bedroom townhouse in the new Sable Ridge development starts at R1.72m, depending on the location.

Rabie Property Group CEO Leon Cohen confirms the healthy demand for sectional title property in the northern suburbs. Mixeduse developments such as

PUBLICATION ADVERTISING SALES

Managing Editor/Copy Editor: Michael van Olst Production: Joanne le Roux

Michèle Jones Susan Erwee

michele.jones@thecreativegroup.info susan.erwee@thecreativegroup.info

084 246 8105 083 556 9848

HOMEFRONT SECTIONAL TITLE BUYING PATTERNS Since 2003 there has been growth in the sectional title market of up to 5%.

and 34% in KwaZulu-Natal.

The largest percentage of sectional title properties are sold in Gauteng.

One-bedroom apartments make up 20% and two-bedroom apartments account for 59% of Western Cape sales.

Units of up to 70m² account for 51% of sales in the Western Cape, 36% in Gauteng

Potential buyers compromise on unit size in favour of a coastal home or a property with a view.

@88 in Ballito, listed by RE/MAX of Southern Africa Century City, Burgundy Estate and Clara Anna Fontein in Durbanville are particularly popular.

“People want more than just a place to stay.

They are looking for a lifestyle,” says Cohen.

“In the current economic climate smaller tends to be the choice to keep capital costs down.” He says studios and one- and two-bedroom apartments at Clara Anna Fontein range from R1m to R2m.

can be largely attributed to its high level of security, lifestyle aspects including a country clubhouse, its flagship Curro Sitari school and the Sitari Village Mall, due for completion at the end of next year.

“Sitari has seven boutique schemes available. These offer one-, two- and threebedroom apartments from R 975,000,” Combrink says. “This includes transfer duty. Most come with two covered parking bays.”

SALES

KwaZulu-Natal

In the Winelands, Sitari Country Estate near Somerset West is drawing a lot of attention. “We sell about nine sectional title apartments a month,” says Claudius Combrinck, MD of AdLab, the marketing agent of the estate. The development’s popularity

The appetite for apartments, flats, townhouses and lifestyle estate units in the greater Durban area is highest in Amanzimtoti.

According to the Lightstone study, Amanzimtoti is the eThekwini Metro area’s most popular sectional title suburb, where 78% of sales

involve flats, apartments and townhouses.

Umhlanga and Ballito are also important sectional title destinations.

“These have shown exceptional growth, once again proving that people like to live with views, near beaches and outdoor activities,” says Tyson Properties CEO Chris Tyson.

“We are definitely seeing buyers opt for sectional title units with good security over freehold homes,” says Tyson.

“Ballito’s @88 offers a three-bedroom, three-bathroom (two en suite) apartment with uninterrupted sea views. Priced at R6.45m, and located on the popular Ballito shoreline, this property offers excellent investment

“People want more than just a place to stay. They are looking for a lifestyle” Leon Cohen, CEO, Rabie Property Group

potential,” says RE/MAX Dolphin Realtors Broker/ Owner Kim Peacock.

Trafalgar MD Andrew Schaefer confirms Ballito’s popularity as a sectional title hot spot, prompting the company to open a new office there recently.

“While the focus will be all round, sectional title has become increasingly important,” he says. “We already have a large portfolio of sectional title schemes and estates such as The Atrium and Sabuti in the Simbithi Eco Estate under management.”

The latter is a lifestyle estate north of Ballito, featuring a golf course, nature trails, community centres and 15 sectional title developments including Ilala, Lalapanzi, Emoyeni, Savanna, Inkwazi, Fish Eagle Ridge and Jacana,

which is in the final stages of development.

Sectional title sales are also on the rise in lesser-known areas such as the Midlands.

Giant’s View in the Midlands village of Rosetta offers serviced flats and freestanding homes and a wide choice of sectional title apartments, complemented by a choice of lifestyle options including tennis, walking and trout fishing.

Coastal nodes such as Sibaya are doing well, particularly in the resort space, says Tyson, with oneand two-bedroom units being most sought after.

“These are easier to let for investors and to younger end-users without children. We are also seeing several retirement sectional title units being built along the coast.”

Percentage of sectional title sales per province 16%

15%

16%

16%

20%

17%

18%

17%

18%

19%

19%

17%

16%

16%

15%

19%

15%

47%

48%

50%

50%

52%

52%

54%

52%

53%

20%

2010

2011

2012

Gauteng Source: Lightstone Property

2013

2014

Western Cape

2015

2016

2017

KwaZulu-Natal

2018

GROWTH IN TOWNS AND SUBURBS In Gauteng, a comparison of freehold, estate and sectional title living from 2013-17 shows Sandton’s sectional title segment has grown by 11%.

In the Western Cape, sectional title growth from 2013-17 in the Strand was 12%.

Amanzimtoti is the most popular KwaZulu-Natal town for sectional title. With 78% of sales in sectional titles, it is the only town in the region showing growth in this category.

Source: Lightstone Property

City living made smarter.

Artist’s Impression

Exclusive apartments from R 2.95 million now selling.

Introducing Sandton Gate. The new mixed-use precinct on the edge of the Sandton CBD. The 137 exclusive apartments are designed for private, open-plan living with large balconies that optimise outdoor space. Choose between two, three or four bedroom apartments, with a limited number of penthouses available. Sandton Gate allows you to connect to the city and reconnect with nature with beautiful views of both the Sandton skyline and the Braamfontein Spruit. Experience pedestrian access to everything the precinct has to offer, such as shops, premium office space and a state-of-the-art gym. It’s city living with all the benefits of suburban lifestyle. It’s Sandton, but smarter.

On show daily by appointment.

08600 CRAFT (272 38) In proud collaboration:

HELLO ORANJEZICHT

WHERE YOUR WORLD IS JUST DOWN THE ROAD

From R1.95 million

incl. VAT (no transfer duty)

Urban living in heritage-rich Oranjezicht, Cape Town.

Key Features: • Panoramic Table Mountain views • Walking distance to Kloof Street restaurants • 21 exclusive apartments • Communal braai and pool deck • Floor-to-ceiling glazing • 2 penthouses with private roof decks

RES I D ENT I A L

www.TheAster.CapeTown David - 072 385 4386 Catherine - 074 384 3127 Office - 021 425 8586

CO N SC I O U S L I V I N G

UMDLOTI SPECTACULAR PANORAMIC SEA VIEWS

EXCLUSIVE MANDATE - POA

This magnificent Palatial home, 634sq m has unobstructed panoramic sea views while seamlessly integrating modern functionality with classic style. Grand entrance hall, opulent chandeliers, expansive terraces, sparkling pool with pool house, marble floors, six generous and exquisitely appointed large bedrooms with six bathrooms, jacuzzi bath, separate cottage, garaging for 4 vehicles, much more completes this sensational and sophisticated upmarket property.

Bronwyn-Lee Rowe Needham bronwyn-lee@remaxdolphin.co.za

BALLITO BEACHFRONT SPLENDER ON THE BEACH – HOLIDAY PARADISE

UMDLOTI

R 4 200 000

FREE STANDING HOME - SOUTH BEACH

Modern new 3 bedroom, 3 bathroom open plan apartment overlooking our main Ballito bathing beach. Best position and amazing letting potential. Sold fully furnished. Won’t last long.

EXCLUSIVE MANDATE

JOHNNY MUTTON - ‘The House King’ Cell: 082 452 5524 Email: jpmremax@mweb.co.za

P R I V A T E

/ 079 058 4003

R 7 995 000

50 metres from the beach, this hens teeth home has approved plans to go double story - The sea views are breathtaking together with the charm of this ‘Old Wold Cottage’ one of the original homes with original Oregon Pine floors Boasting five bedrooms, two bathrooms, large kitchen with space for all modern appliances, large verandah overlooking the sparkling pool and the ocean, an entertainers paradise. Large level garden, garage, laundry and caretaker room/restroom, great investment property.

FOR MORE INFORMATION ON THESE AND OTHER PROPERTIES, CONTACT BEV 23 Sandra Road, Ballito | P.O Box 418, Ballito, 4420 Tel: 032 - 946 0881 | Office Fax: 032 - 946 3450 Email: admin@remaxdolphin.co.za

E S T A T E

S I BAYA

ocean views from every home cabanas and villas from R3.9 million The depictions herein are for illustration purposes only and are subject to change without prior notice.

O n s h ow, Sa l e s o f f i c e o p e n da i ly

B

alize Private Estate is the first luxury estate in the sought-after Sibaya Coastal Precinct with ocean views from every home.

Offering smart-ready 2, 3 and 4-bedroom luxury Villas, Cabanas and Penthouses, Balize Private Estate is designed to inspire a resort-living feel with highest-quality finishes, generous outdoor living and an ocean-front lifestyle.

u m h l a ng a umdloti

RAINMAKER 11|18

The depictions herein are for illustration purposes only and are subject to change without prior notice.

Contact our Development Consultants to set up your on-site appointment and experience the most exceptional views on the KwaZulu-Natal North Coast.

Butch James: 082 465 1001 | John Robinson: 083 410 1536 | Shavaun Lindsay: 072 194 8672 087 095 27 4 4

bal i ze . co. za

i nfo@bal i ze . co . z a

HOMEFRONT

HOMESENSE

Reinvigorate your bathroom Walk-in shower spaces work well in times of water scarcity

“Larger overhead rain showers are the latest thing”

WORDS: ANNE SCHAUFFER :: PHOTOS: SHUTTERSTOCK

B

athrooms have taken a bit of back seat thanks to SA’s recent water restrictions.

But if your bathroom is in the market for a clever facelift, a bit of renovation know-how can transform it into a practical yet peaceful sanctuary.

Gareth Gee, marketing and sales representative at Simply Bathrooms in Durban, says that while baths may be used less by households, they are still visual focal points in a bathroom. “We’re seeing a trend towards differently shaped baths, some with a colour on the inside.”

The trend is to go smaller as these baths are watersaving. Gee recommends the Victoria & Albert Cabrits as it follows the contours of the body and uses minimal water.

SHOWERS Consumers are going for walk-in showers that are level with the floor, and a frameless screen. That

means there is no step, so showers flow seamlessly from the rest of the bathroom. “Larger overhead rain showers are the latest thing,” says Gee. “It is watersaving yet keeps the whole body covered. People are also building shelf steps in a shower. They sit on it or rest a leg while shaving.”

What makes a bathroom into a sanctuary? “Lighting, comfort and functionality,” says Gee. “It’s one place where no one should disturb you, where you can let down your guard. So ideally you want it warm and cosy, not hard and cold.”

LUXURY There are certain elements that never date in a bathroom, such as heated floors and heated towel rails.

These little touches of luxury make the entire bathroom experience enjoyable, particularly in winter.

Gee suggests that every bathroom restoration should include top-quality fittings. “Don’t go cheap.

Use superior hardware, so it functions well, and the sight or sound of it doesn’t jar, such as a loudly flushing loo or noisy taps – these elements break the calm and sensual mood, which provides that relaxation.”

is warm to the eye and touch, so it can be used anywhere in bathrooms to give you that earthy feeling, whether it’s a slatted bench or a shower floor. Well-chosen greenery can also enhance the quest for a natural feel.”

TRENDS

HARDWARE

Gee says there are two distinct trends: contemporary and vintage.

“Complete opposites. The contemporary bathrooms tend to be minimalist with sharp edges, glass and lighting. The others are more opulent, even over the top, with features such as chandeliers, plants, couches and even fireplaces.”

It is all about personal taste. He suggests a neutral bathroom shell, with colours and textures varied for the season, without conflicting with the bathroom fixtures.

“The trend towards authenticity is strong for bathrooms, and natural materials such as wood, stone and concrete are grounding,” Gee says. “Wood

Bathroom hardware is going colourful and/or metallic. “Taps, baths, basins and accessories are leaning strongly towards colour or shine, with rose gold, pink, grey, mustard yellow, brushed brass and matte black being the most popular,” Gee says. Chrome is yesterday. Greys and blacks are still popular, but for winter, warm it up with coloured, textured towels and a deep pile bathmat.

For flooring, Gee says most people choose oversized tiles, which aside from giving the bathroom a simple, neutral look, also minimise the area of grout where mould could grow. Variations such as wood look-alike tiles are also being used.

Gareth Gee, marketing and sales representative, Simply Bathrooms

Milos

FOCUS ON: OASIS LIFE ADVERTORIAL

Plans for new national retirement village brand Rabie Property Group to launch three villages — with more in the pipeline WORDS AND PHOTOS SUPPLIED

T

hree retirement villages are to be launched in the Western Cape by leading developer Rabie Property Group within the next eight months. Additional villages will be rolled out in other major centres over the next five to 10 years.

Launched under new brand Oasis Life, the villages will all be based on the life right model.

Unlike most retirement developments, a dedicated clubhouse will be built as part of phase 1 of each development and will comprise leisure as well as primary healthcare facilities.

FACILITIES

The completed Clara Anna Fontein lifestyle centre in Durbanville

Forming part of Rabie’s existing mixed-use developments in Cape Town, the first three Oasis Life villages, to be built at a cost of more than R2.5bn, will each offer residents extensive additional facilities right on their doorsteps.

First will be Oasis Life Clara Anna Fontein, which will form part of the 128ha mixed-use Clara Anna Fontein Estate in Durbanville. This will be followed by Oasis Life Burgundy Estate in March next year and Oasis Life Century City shortly after.

Each village will also feature optional home care packages for residents requiring extra assistance.

Rabie CEO Leon Cohen says that with people living longer and with a shortage of options as they get older, there is huge

FOCUS ON: OASIS LIFE

potential in this market for superior products that offer a great lifestyle for residents.

“The first three villages in Cape Town are just the start,” says Cohen. “We are also exploring opportunities in other major centres and plan to roll these out in the not-too-distant future.”

SUCCESS The launch of Oasis Life follows Rabie’s successful Oasis Luxury Retirement Resort in Century City, where all 376 sectional title apartments were sold out six months ahead of the completion of the sixth and final high-rise apartment.

Cohen says Rabie, which has a proud 40-year track record of delivery and which has been responsible for many of the country’s award-winning, landmark developments, including Century City, has successfully delivered tens of thousands of homes and hundreds of thousands of square metres of commercial space, providing investors with the peace of mind that they are in safe hands.

FOCUS “Our focus has always been on delivering more than just bricks and mortar; it has been on developing large-scale estates and well-integrated mixed-use developments designed to enhance the quality of life of those who live, work and play there.”

Cohen says Rabie

investigated financial models and believes life right, which provides purchasers with the legal right to live in a home for as long as they and their nominated partner/spouse are alive, offers buyers the greatest benefits and financial flexibility, whereby options can be tailor made to suit an individual’s circumstances.

“One of the biggest pros is that it guarantees professional management taking away many of the day-to-day worries and hassles such as security, clubhouse management, maintenance and insurance which can face those living under body corporates,” says Cohen.

CERTAINTY “Purchasers also have more certainty about levies and won’t face the nasty shock of a special levy,” he says.

“In addition, and very importantly, the developer is in for the long haul. By retaining ownership of all homes as well as the common property, it is in the developer’s interest to maintain and keep the village and its facilities to a very high standard. As such the interests of residents and the developer are aligned.”

Cohen says the group has extensive hospitality experience, including owning and running top-notch hotels and a conference centre. A specialised hospitality division will ensure the successful operation of the retirement villages.

"We are also exploring opportunities in other major centres and plan to roll these out in the not-too-distant future" Leon Cohen, CEO, Rabie Property Group

GET IN TOUCH Johan de Bruyn, agent, Louw & Coetzee Tel: 082 881 2011 oasislife.co.za

HOMEFRONT LONG-TERM INVESTMENT

Age matters: find your ideal home

The face of retirement has changed. Mature lifestyle estates now cater for much younger buyers and older residents, often in proximity to other residential developments WORDS: GEORGINA GUEDES :: PHOTOS: SUPPLIED AND SHUTTERSTOCK

T

oday’s retirement developments increasingly target those who plan ahead at a younger age, whether they are part of multigenerational lifestyle estates where the different generations of family live in close proximity, or standalone retirement operations with niche specialist care and attractive amenities that suit active lifestyles.

People are also living longer, creating greater demand for this type of accommodation.

Investors are buying into developments earlier for lifestyle and financial benefits — and to secure their space earlier where demand is high. Many properties now accept residents from the age of 50. Some have adopted the mantle “mature lifestyle estates”, indicating that they offer much more than the retirement homes of the past.

“We are definitely seeing a trend of either potential retirees renting with a view

to purchasing down the line or buying earlier and renting out until they are ready to make the move — to secure a home, as there is currently a shortage of options,” says Rabie Property Group CEO Leon Cohen.

To cater to this younger set of not-quite retirees, the profile of amenities on estates has changed.

“There is definitely a strong move away from the old age homes of the past with limited communal facilities — usually no more than a lounge and dining room — towards lifestyle estates offering a range of facilities such as clubhouses, gyms, restaurants, swimming pools, libraries, tennis and squash courts, function facilities and the like,” Cohen says.

OPTIONS Century Property Developments uses the term “mature lifestyle estate”. “The reason for this is simple: the individuals who reside in these sought-after estates

desire a place where one goes to live,” says Jessica Hofmeyr, Century Property Development executive in charge of sales, rentals, marketing and operations.

“It is where their working career is no longer the focus and they desire time to relax and enjoy life.”

BUSINESS However, one of the more popular features in both the Waterfall Valley and Waterfall Hills Mature Lifestyle Estates are the business centres in their clubhouses. “Many residents still serve on the boards of organisations and need to conduct occasional meetings,” says Hofmeyr. This indicates that while people might have moved into a retirementtype setting, they are far from professionally inactive at this age.

The mature lifestyle estates at Waterfall include restaurants, a library, function rooms, cinema/ auditorium, gymnasium

and on-site management.

Outdoor facilities consist of putting greens, bowling lawn, tennis courts, pools, 38km of walking, cycling and running paths, bird-watching hides and vegetable gardens.

EXPECTATIONS “The Baby Boomer generation is also more discerning when it comes to retirement needs and expectations,” says Michael Zipp, CEO of the Cape Peninsula Organisation for the Aged (CPOA).

“As such, a large portion of the retirement landscape has shifted to offer a holistic lifestyle approach when it comes to retirement developments.”

Many have long waiting lists too. CPOA’s Constantia Place, for example, has a two- to five-year waiting period. One obvious benefit to planning retirement at a younger age is that you can secure your place on a waiting list.

However, while the

lifestyle amenities of these estates may appeal to the younger set, retirees expect a similar quality of living.

According to Statistics SA, more than 6% of South Africans are over 60, with this figure expected to double in 30 years. Life expectancy is higher than ever before (79 for men and 83 for women, among SA’s middle class).

AMENITIES These factors point towards retirees not looking for a typical retirement home, but rather requiring a host of amenities in a safe, secure environment. “These days, there isn’t time for boredom at a retirement estate. Sitting around is far from what today’s retirees want,” says Evergreen Lifestyle CEO Arthur Case.

“They want a quality of life that enables travel, cultural and intellectual stimulation, and sporting and lifestyle activities. The typical old age home that most people imagine is not

HOMEFRONT

The Village at Langebaan Country Estate

going to meet these needs.”

In the soon-to-belaunched Evergreen Val de Vie near Paarl, Chris Cilliers, CEO at Sotheby’s International Realty in the Winelands, says the lifestyle facilities suit all mature age groups. “It’s quite possible to live in the development and be extremely active,” she says.

Cilliers points out that the life right model of Evergreen does not hold as much appeal to investors as freehold. “People are definitely buying to occupy the units themselves.

“However, if they feel too young to move into the unit, they can let it for a limited time. Many people already resident on the estate have purchased a unit to occupy when they feel it is time to scale down,” she says.

Yet Case says the life right model grants the Evergreen buyer and their partner the security of guaranteed lifetime occupation, and typically costs less than a market-related property.

SETTING

Waterfall Hills Mature Lifestyle Estate

“Investors are buying into developments earlier for lifestyle and financial benefits — and to secure their space earlier where demand is high”

While many mature lifestyle estates build their own village-style infrastructure, others rely on the setting of where they are located.

Construction begins next year at The Village at Langebaan Country Estate. It will offer residents the established comforts, facilities and activities of the existing 450ha estate.

“We wanted to create a place where lifestyle meets secure, stylish, affordable living in a dynamic community that combines residential, recreational and healthcare facilities so that

you can really enjoy the best years of your life,” says The Village CEO Craig Scott.

The Village will offer north-facing homes from courtyard suites to two- and three-bedroom freestanding life right cottages, all with optional care packages. A host of facilities and services will be on offer.

AMENITIES Devmark Property Group’s The Retirement Collection also launched Langebaan Manor in October, in the popular Western Cape coastal town known for watersports. “Langebaan Manor will be in the centre of the town, close to all amenities and beaches surrounding Langebaan Lagoon,” says Jean Ehlers, director of Devmark’s residential development division. Freehold properties start at R1.795m and sectional title at R990,000.

“With its proximity to Cape Town, Langebaan Manor will be the ideal investment for those wanting to retire in a beautiful setting, but still be close to the city, family and friends.”

INVESTMENT Although the intention behind retirement estates is for it to be the last home you buy, there can be potential for return on the investment, either for the buyer or their legacy.

De Plattekloof Lifestyle Estate in high-end Plattekloof suburb in Cape Town’s northern suburbs, is considered an attractive option as a resort-style luxury estate that caters for independent living as well as assisted living

and frail care. It offers excellent returns as well.

“Unlike a life right scheme, purchasers will be buying into a sectional title scheme — effectively owning the property — and enjoying the benefit of capital growth on their investment,” says Adlab MD Claudius Combrinck.

“Considering that advances in modern medicine allow for much longer lifespans, it is of great benefit to know that investing in De Plattekloof will be more that simply catering for age-related requirements, but also a solid financial investment.”

MULTIGENERATIONAL A trend in mature lifestyle estates is their inclusion into broader lifestyle estates so that families can live in close proximity. Evergreen Val de Vie and the mature lifestyle estates at Waterfall fit the bill, as does Westbrook in Port Elizabeth.

At Westbrook whole families are investing in the estate; 95 families have already moved in while sections of the development are still under way.

“Living in the same estate, and not necessarily in the same zone, comes with its own unique set of benefits,” says Westbrook MD Clifford Oosthuizen. The goal is a safe, walkable precinct comprising 3,500 residential homes spread across nine residential villages and a town square with commercial and retail space.

It is the first estate of its kind in Port Elizabeth.

“This type of living benefits each level of a family, with young children reaping the rewards of living in close

HOMEFRONT

“The Baby Boomer generation is also more discerning when it comes to retirement needs and expectations” Michael Zipp, CEO, Cape Peninsula Organisation for the Aged

The site of Devmark Property Group’s Langebaan Manor proximity to their parents, grandparents and relatives,” explains Oosthuizen. “And for older generations there is the peace of mind that you are not going into a typical retirement home, but rather a lifestyle estate where you are among people of many age groups.”

Cohen says that all 376 retirement opportunities in Rabie’s Oasis Luxury Retirement Resort in Century City sold out six months ahead of the development being completed, which he accredits to high demand for multigenerational and mixed-use accommodation.

HIGH DEMAND The breadth of amenities at multigenerational estates is illustrated by the fact that a development such as Westbrook has a school, but also offers frail care, 24-hour security and medical assistance.

“Many retirement developments also acknowledge the necessity for care services and offer these facilities on-site in the form of a frail care facility, specialised memory care facility, or in-home assisted living, as is the case with most of the 27 retirement communities that CPOA owns or manages,” says Zipp.

“Investing in a development where these options are readily available mitigates the need for a future move at a time when your health may already be compromised.”

Kindlewood Estate in Mount Edgecombe attracts a full range of investors, from first-time buyers to retired couples seeking an active, outdoor lifestyle.

“Kindlewood has homes and facilities suited to every phase of life,” says Mondli Msani, development manager of Tongaat Hulett Developments.

Mount Edgecombe Retirement Village, within the established Kindlewood Estate, will provide quality healthcare services through Totalcare, a provider specialising in assisted living, frail-care and homebased care. A 6,500m2 state-of-the-art care centre will be functional by the time residents move in.

“We can’t express how important providing a worldclass healthcare facility is to our development,” says David Cameron, director of Cameron Property Group, the developer representative for Mount Edgecombe Retirement Village.

“Regardless of sales, we will continue to proceed with the healthcare facility building plans.”

Buh-Rein Estate in Cape Town’s northern suburbs has 40 separate complexes, all with lifestyle offerings.

It incorporates a retirement village, open to residents aged 50 and above, catering for fit and active retirees, but also taking into account endof-life requirements.

MATURE LIFESTYLE ESTATE CHECKLIST: Safety and security Many estates offer 24-hour security, with camera systems and regular patrols on site.

Lifestyle Look for a community.

Modern lifestyle amenities range from restaurants, communal lounges, gymnasiums and pools to outdoor green spaces, libraries, salons, exercise groups and more.

Location Moving to a retirement village far from everything you know might lead to a lonely existence. If you’ve lived in a particular community for many years, it might be wise to retire nearby.

CARE CENTRE The Buh-Rein Retirement Village has assisted living apartments and independent living apartments. A care centre, run by Medwell SA, has 10 rooms for frail care and 10 rooms for memory care.

“Retirees can range from the fit and active to those who need more care and we take the whole spectrum into account,” says Multi Spectrum Property CEO Riaan Roos.

The consideration and forethought going into the development of these mature lifestyle estates suggest that retirement is no longer an end-of-life phase, but rather a new-lease-on-life era, with amenities, surroundings and services to support that.

Mount Edgecombe Retirement Village

Healthcare In your older years, it is essential to have access to quality medical and frail-care facilities. Many retirement estates offer quality care at a lower cost for residents — right on your doorstep in the event of an emergency.

of a life right is that maintenance of the property — and its cost — is taken care of, as it is the responsibility of the developer. Many lifestyle villages also include garden maintenance, simultaneously providing green spaces for residents.

Purchase models In SA, the two main models in retirement estates are investing in freehold or sectional title properties, or purchasing a life right. Consider the affordability of the unit you’re looking to purchase, the levies involved and what else is offered on site.

Forward thinking If moving into a larger home in a retirement estate, check if there is the option to downsize down the line. Moving into a smaller space, such as a flat within your retirement estate, can be cost-effective and convenient later on.

Maintenance One of the key benefits

Source: Arthur Case, Evergreen Lifestyle retirement estates

FOCUS ON: BUH-REIN ESTATE ADVERTORIAL

Lifestyle estate now caters for young and old Leading-edge retirement village launched on Buh-Rein Estate WORDS AND PHOTOS SUPPLIED

T

he award-winning Buh-Rein Estate in the northern suburbs of Cape Town is a suburb stretching across 87ha with more than 2,000 homes handed over to owners. This brainchild of MSP Group of Companies CEO Riaan Roos meets the latest trend of the live, work, play concept.

Roos is proud to announce that MSP has recently launched BuhRein Retirement Village, one of only two in the country that meet the latest retirement standards.

The retirement village is open to those 50 years and older and includes 461 one-and twobedroom apartments.

It is divided between 68 assisted living apartments and 393 independent living apartments. In addition, there is a care centre run by Medwell SA, which offers 10 rooms for frail care and 10 rooms for memory care.

Buyers in the village may be younger than 50, as long as the occupant of the apartment is 50 or older, making it ideal

for investors or people securing that perfect place for their parents.

The village offers its own clubhouse with two restaurants, heated indoor swimming pool, wellness salon with hairdresser, a beautician and massage therapy. It also includes a gymnasium, deli, library with internet access, hobby areas, a courtyard with a central water feature, a lapa with indoor and outdoor braai facilities and a function hall that can accommodate 500 people.

VALUE A future Checkers convenience centre will add even more value to the daily lives of all BuhRein Estate residents.

Construction on a church has also begun and building at Buh-Rein Storage begins in early 2019.

The storage addition is the perfect answer for those opting to scale down and enjoy an ideal lock-up-and-go lifestyle, knowing your trailer, boat or goods are always safe and easily accessible.

The estate as a whole has experienced remarkable capital growth since its introduction in 2011 and has recorded doubledigit growth figures consistently over this term, making it not only a dream destination for people to enjoy the lifestyle estate, but also attractive to investors because of the strong rental demand in a sought-after development.

The latest apartment complex is named Blue Lily Lane, where buyers can purchase a twobedroom apartment from R1,159,900.

Sable Ridge or Sterling Grove offer ideal townhouses comprising three bedrooms, 2½ bathrooms and built-in braais. A limited number of homes are on promotion, priced from R 1,669,900 at Sable Ridge.

GET IN TOUCH Multi Spectrum Property Tel: 087 802 9005 E-mail: sales@MSP.property

LAST REMAINING SITES AVAILABLE NOW

BRIDGE CITY

ELEGANTLY CONNECTED

• Established, serviced precinct with building and road infrastructure in place • Well managed Town Centre with transfer ready business and industrial sites • Bridge City Management Association fully functional • Flexible basket of rights • Platformed, with all bulk services in place • Bulk of up to 6 FAR

YOUR PROPERTY DEVELOPMENT PARTNER

As a functional, vibrant and established new precinct, Bridge City combines an impressive mix of public sector facilities, services and infrastructure. It lies at the heart of a world-class, inter-modal transport system that unlocks access to the surrounding communities and offers attractive investment opportunities in a professionally managed, integrated and dynamic development node. www.thdev.co.za

BDH53075

HOMEFRONT BAROMETER

Properties breaking records — and the bank SA’s leading property sales provide a sense of the postcodes with the mostest WORDS: GEORGINA GUEDES :: PHOTO: SUPPLIED

Nettleton Road, Clifton sold for R120m in 2017 by Dogon Group Properties

Most expensive home sold

Highest short-term rental

Price: R290m for 5,000m².

Price: Just less than R1m for four nights.

Where: a Bantry Bay seven-bedroom home.

Where: two luxury villas in Clifton, Cape Town.

When: June 2016.

Sealing the deal: a Porsche Cayenne and an Aston Martin DB9.

Sold by: Dogon Group Properties.

When: September 2018 (low season).

Footing the bill: an international business group.

Let by: Dogon Group Properties.

Most expensive streets in SA

Priciest Mouille Point: apartments/m2

Price: R95,000m² — The Ridge and Cliff Road, Clifton, Cape Town.

Price : R92,000m² — Victoria Road, in Clifton and Bantry Bay, Cape Town.

Price: R90,000m² — V&A Marina, Dock Road, Cape Town.

Source: AfrAsia Bank SA Wealth Report 2018.

Price: R70,213/m² for a 47m2 apartment. R3.3m was paid in March 2018.

Price: R60,606/m² for a 33m2 apartment. R2m was paid in May 2018.

Price: R54,255/m² for a 47m2 apartment. R2.25m was paid in March 2018.

Source: Propstats and Seeff Properties.

Priciest parking bay

Record-breaking beach apartment

Price: R1.65m for a parking bay.

Price: R53.8m for 599m²

Where: White Cliffs apartments, Clifton, on the Atlantic Seaboard.

Where: a Bantry Bay apartment with three bedrooms, four-and-a-half bathrooms and study.

When: January 2018.

Other significant parking sales in the neighbourhood: Clifton — R1.5m (2018).

Sold by: Pam Golding Properties.

When: June 2018.

Sealing the deal: a bar, wine cellar, 24-hour concierge and direct elevator access to two storerooms and four basement parking bays.

Sold by: Seeff Properties.

HOMEFRONT INTERNATIONAL

Surging ahead Ranked high for its stable investment potential, property opportunities — and let’s not forget that idyllic island lifestyle — more than ever Mauritius is a destination in demand WORDS: DEBBIE HATHWAY :: PHOTOS SUPPLIED AND SHUTTERSTOCK

H

arry Belafonte sings of the Caribbean in his classic hit Island in the Sun, but he could just as well have been singing about Mauritius. The words of praise for its forests, waters and “shining sand” resonate among those who frequent the island, as highly rated for its natural beauty as its GDP growth, property investment opportunities and infrastructure development that promotes business expansion.

Why people are moving there With its strong democracy, stable economy, tax efficiency and safe living environment, Mauritius as a destination holds great appeal for South Africans.

The AfrAsia Bank Africa Wealth Report 2018 notes that, over the past decade, total wealth held in Mauritius has risen by 195% in US dollar terms, making it the fastest-growing wealth market in Africa and one of the top three worldwide during this period. Total wealth held in Mauritius is now $43bn, while per capita wealth stands at $33,000 — it’s the richest country in Africa, on an average wealth-per-person basis.

RESIDENCY Many high-net-worth individuals have moved to Mauritius in the past 10 years, mainly from Europe and southern Africa and they stay for several reasons. The permanent residency attached to a residential property investment of $500,000 is a major incentive, as are the company and personal income tax rates at only 15%.

There is no inheritance or capital gains tax.

The wealth report highlights that strong ownership rights encourage locals and foreigners to invest in property and businesses on the island — the most critical component of successful wealth creation globally.

“Mauritius is a stable and interesting investment destination,” says David Martial, commercial and business development director for Alteo Properties.

He cites low taxes, free repatriation of profits,

dividends and capital, and no exchange control.

“The country has good infrastructure (IT, private schools, healthcare and financial institutions) and very few security problems.”

LIFESTYLE In addition to the lifestyle, world-class golf courses and beach-and-mountain scenery, islanders gain access to a well-developed banking system and stock exchange, a burgeoning IT and manufacturing sector, good schools and universities, first-class food and produce, international retail outlets, and a rapidly growing entertainment industry encouraged by the Economic Development Board’s Film Rebate Scheme.

New World Wealth rates Mauritius, Namibia and Botswana as the safest countries in Africa, and the World Bank’s 2019 Doing Business Report puts the island first on the continent and 20th out of 190 countries when it comes to ease of doing business.

Regarding healthcare, the largest private hospital, Wellkin, is located in Moka — in the middle of the Port Louis, Flic-en-Flac, Medine triangle and almost at the midpoint between north and west, the popular areas for residential developments.

The hospital is managed by the CIEL Group and partner Fortis Healthcare.

It comprises several centres of excellence served by world-renowned specialists in cardiac and spinal surgeries and includes high-end orthopaedic and urological procedures. The Fortis Clinique Darné, one of the oldest yet most modern hospitals in Mauritius, operates at La Croisette Mall in Grand Baie and in Floréal on the central plateau.

Property investment need to know

The property market is in hard currency — US dollar, euro or Mauritian rupee — and South Africans are buying to secure residency, for externalisation of funds or as a rand hedge. “What’s interesting is during the recent market currency collapse, led by the Turkish lira meltdown that caused the rand to take a dive, the Mauritian rupee didn’t move.

Investors no longer consider

HOMEFRONT

MAURITIUS TOURIST ARRIVALS 1.265-million — Island population (2017) 1,312,295 — Tourism arrivals by air 29,565 — Tourism arrivals by sea

Anahita Mauritius on the east coast

“Over the past decade, total wealth held in Mauritius has risen by 195% in US dollar terms, making it the fastest-growing wealth market in Africa”

Source: World Bank and The Association of Hoteliers and Restaurants in Mauritius Annual Report 2018

AfrAsia Bank Africa Wealth Report 2018 it as an emerging market currency,” says Richard Haller, director for national and international projects at Pam Golding Mauritius.

Property investors are split into five groups — families relocating, those wanting alternative residency, older couples heading for retirement and looking to spend some time in a pleasant climate (they will spend three or four months a year on the island), those looking to invest for capital growth and rental returns, and families looking for holiday homes, although Haller says this is now less of a focus.

Diane Watkins, executive director of Barnes International Realty in Mauritius, agrees that while the main relocators to the island are families, the investment attraction cannot be underestimated.

“Land on the island is finite and, as we have seen with other islands where socioeconomic policies have been sound, the price of property continues to soar, maintaining a buoyant real estate market,” she says.

SALES

Pointe d’Esny Le Village villas in the south-east

France represents 44% of foreign residential sales, followed by SA with 29% and the UK with 9%, says Seeff Properties Mauritius MD Laurent Tyack. The most popular areas are Grand Baie, Port Louis, Tamarin and Anahita.

Tamarina Golf & Beach Resort in Tamarin was the first Integrated Resort Scheme launched by Pam Golding Mauritius in 2006, when the market opened for foreigners. “We’ve seen massive capital growth in just over 10 years, up to 300%, while South African investors have seen as much as 600% from a rand perspective,” says Haller.

Anahita Mauritius has also seen good capital gain, averaging 25% after three years. One of the most prestigious and elegant tourist and residential destinations on the east coast, Anahita is a 213ha seafront freehold estate that has two world-class 18-hole golf courses at Anahita and Ile aux Cerfs, two five-star hotels and the island’s largest lagoon. Top golf tournaments include the 2018 AfrAsia Bank Mauritius Open.

“Our homeowners, who come mainly from France, Switzerland, the UK and SA, enjoy the Mauritian art of living (outdoor lifestyle around large verandas and big pools, beach and water activities, golf, restaurants and spas). Most have more than two properties and don’t necessarily live in Mauritius all year long,” says Martial.

RETURNS Homeowners are often able to generate rental returns by letting their apartment or villa through the hotels — Anahita Golf and Spa Resort

or Four Seasons Resort Mauritius at Anahita.

Meanwhile in the southwest, the prestigious Heritage Villas Valriche has launched a new precinct. Southern Views is geared towards those wishing to buy land and design their own homes.

Its location provides access to one of the best-preserved lagoons on the island, some of the most renowned spots for surfing and other water sports, and an estate that incorporates two five-star resorts, a beach club, an award-winning golf course and a 1,300ha nature reserve.

New residential developments

The east: Hedonia and Rive Est at Anahita offer different opportunities to foreign investors, starting with a four-bedroom 240m2 villa with beautiful mountain views from R21m to premium 500550m2 villas on rare seafront stands measuring about 4,000-5,000m2 in front of Ile aux Cerfs.

The north: There are several attractive options to choose from in this area. Among the latest developments is Mont Choisy La Reserve, with its mix of luxury villas on the championship golf course in Grand Baie, and apartments and penthouses with stunning views of Coin de Mire. Villa prices start at R24.3m and apartments at R7.6m. Le Savoy luxury

HOMEFRONT

Akasha Villas, Tamarin in the west Azuri Rive Droite at Azuri Ocean & Golf Village

SMART CITIES Smart cities have been shown to dramatically improve a region’s prosperity. The government of Mauritius has introduced the Smart City Scheme to encourage investment in “intelligent, innovative and sustainable cities” where most of the residents can live and work.

To that end, proposals must include a mix of office, light industrial, hotel, retail, public entertainment and housing within a pedestrian-oriented urban environment.

Some governmentapproved plans are now coming on stream.

Beach access

The Mon Trésor Business Gateway-Office Park, located within the Mon Trésor Smart City in Plaine Magnien in the south-west, is celebrating the first Green Star rating for Mauritius.

Developed by Omnicane

and Eris, the project was managed by Mauritian Enerxis Solutions in partnership with SAbased Solid Green.

This project incorporates luxury apartments from R2.29m, penthouses, townhouses and water villas and boasts soughtafter ocean access. “It is within these smart cities that foreigners can now own title 100%, with a new favourable entry value that enhances the value proposition and can earn rental returns for the savvy investor,” says Andrew Thompson, development and sales director of eLan Property Group.

Education master plan

Pam Golding Mauritius will launch the first apartments at Uniciti near Flic-en-Flac in the west, priced from about R2.745m. “Many projects have already materialised and a wide range of other developments will bring

MAURITIUS VS CAPE TOWN PROPERTY Mauritius Mont Choisy Le Parc. Three bedrooms, in a prime location in Grand Baie opposite Mont Choisy Beach. Priced at Rs31,354m (Rs148,000/m2 or R60,000/m2) West Island Resort. Two bedrooms, on the marina in Tamarin. Priced at Rs24m (Rs155,000/m2 or R63,500/m2)

Cape Town 169 on Main, Green Point. Two bedrooms.

Priced at R4.995m (R61,700/m2) The Glengariff, Sea Point. Two bedrooms.

Priced at R5.75m (R57,500/m2) St Antoine Private Residence near Grand Baie

together under one roof all aspects of the city’s life: residential, business, leisure and education,” says Medine Group CEO Thierry Sauzier.

“Uniciti is poised to be an integrated, dynamic and connected city that will promote sustainable development. The name conveys the notion of unity, social cohesion and solidarity … with education placed at the heart of Uniciti’s development.”

Public/private partnership

Mont Choisy Le Parc, an existing high-end residential development, is now expanding into the Mont Choisy Smart City.

Located on a relatively small former sugar estate in Grand Baie, but a valuable, strategic piece of land, the Mont Choisy Smart City Master Plan incorporates residential units around the Peter Matkovitch-designed championship golf

course, enhanced by a mix of commercial, retail, dining and innovation clusters as well as a longterm vision for a sports university and a centre for sports excellence.

“A boulevard and parkway will stretch from the mall into a mixed-use development featuring cafés, bars, commercial and residential space, as well as a piazza where the Mont Choisy and Grand Baie communities can meet,” says Compagnie de Mont Choisy CEO Jyoti Jeetun.

“The unique feature of our smart city design is that it is inclusive and integrated with Grand Baie via the planned boulevard to be constructed in partnership with government. We’re inviting communities to share the space.” The parkway alongside the boulevard will enhance the lifestyle component by serving as a jogging and cycling track.

HOMEFRONT

Southern Views at Heritage Villas Valriche in the south-west apartments in Pointe aux Canonniers, with charming sea views, are priced from R8.627m. Phase 2 of St Antoine Private Residence, near Grand Baie, has also been released. The development features 100 luxury apartments and penthouses with sea views, direct ocean access and resort-style facilities. The starting price is R9.5m, with a completion date set for August 2020.

The north-east: Priced from R9.25m, Azuri Rive

“What’s interesting is during the recent market currency collapse … the Mauritian rupee didn’t move. Investors no longer consider it as an emerging market currency” Richard Haller, director for national and international projects, Pam Golding Mauritius Continued from page 29

Droite forms part of Azuri Ocean & Golf Village. It faces the island’s second-largest lagoon, Roches Noires, and is surrounded by mangroves, a vital ecosystem.

The west: Neighbouring the Tamarina Golf Course and surrounded by lush vegetation, Akasha Villas comprises three- to sixbedroom villas with views of Tamarin Bay. Villas are priced from about R13.58m.

La Balise Marina is the only residential marina on the island and offers buyers

the opportunity of living at the water’s edge. Extending 12.8ha, the development is in the heart of the seaside town of Black River. On completion, the resort will comprise 143 villas, duplexes and apartments — 100 residences have been sold.

according to comprehensive estate guidelines.

The south-east:

Rural without being isolated, Pointe d’Esny le Village is comparatively underdeveloped, maintaining natural island authenticity while remaining close enough to established urban nodes to meet all modern lifestyle requirements. There will be an infant and primary school built within the resort, but there are also wellestablished international schools nearby.

The south-west:

Southern Views at Heritage Villas Valriche comprises eight plots ranging from 1,350m2 to 1,572m2. For $420,000, (about R5.85m) buyers can design and build their dream homes

i

ne

Direct sea access

Resort services

ce

en

to S aint An

Tax free dividends Residency permit www.stantoinemauritius.com

Max 15% income & corporate tax

SE 2

PHA

- M a u ri t

iu

s

YOUR MAURITIUS

si -P ri v a t e R e

d

FOCUS ON: MAURITIUS SOTHEBY’S INTERNATIONAL REALTY ADVERTORIAL

Mauritius: the art of living in the tropics Luxury holiday homes or attractive property investment for rentals — island offerings to satisfy the most discerning WORDS AND PHOTOS SUPPLIED

La Balise Marina

W

ith an area of 1,865km² and a population a little more than 1.3-million, Mauritius is the most prosperous of the Indian Ocean islands.

The country has achieved a remarkably successful economic performance, moving from the status of developing country to that of a newly industrialised country. Originally an agricultural economy relying solely on sugar cane cultivation, Mauritius set out to diversify its economy by developing sectors such as textile, tourism and financial services.

With a stable political system, an economy with positive growth for more than 25 years and a strategic geographical position at the heart of the Indian Ocean, Mauritius has become a privileged destination for foreign investors, but also, since the implementation of schemes such as the Integrated Resort Scheme and Smart City Scheme, a favourite place for foreign owners seeking an exclusive lifestyle.

Advantages of investing in real estate

nautical activities. Landbased leisure facilities include three championship golf courses within 30 minutes’ reach. World-class restaurants, bars, medical facilities, commercial centres and international schools are also on hand.

On completion, the resort will comprise 143 villas, duplexes and apartments, among which 100 residences have already been sold.

La Balise Marina at a glance: Freehold two- to five-bedroom waterfront residences ranging in size from 125m² to 517m²; Private and shared moorings; La Balise Marina Fully furnished residences available; Situated on the sunny west coast, La Balise Marina is the All the facilities of a firstonly residential marina on class resort — a lounge bar the island and offers buyers and restaurant overlooking a the privilege of living at the large infinity pool, a spa and water’s edge in Mauritius. a sports centre; and Extending over 12.8ha, the Possible income from development is located in letting the property. the heart of the seaside town of Black River. The region is Heritage Villas the perfect blend of typical Valriche village charm and modern Heritage Villas Valriche, the comfort in breathtaking largest villa-only residential natural scenery. Its development on the island, turquoise lagoons are ideal is ideally located within for enjoying a vast array of Heritage Bel Ombre. Steeped in Mauritius include: A favourable tax regime; Thriving banking and offshore centres; Advanced IT and telecommunication facilities; and A minimal time-zone difference with Africa and the main European capitals.

ENL Property, a leader in upmarket real estate, is the only group in Mauritius to offer a range of exclusive projects around the island. Whether you are seeking a luxury holiday home or an attractive property investment for rental purposes, our offers will satisfy the most discerning clientele.

• • • •

• • • • •

in history and in perfect harmony with its natural environment, this 2,500ha estate in the unspoilt southwest of Mauritius offers a wealth of experiences.

Boasting amazing golf, sea and mountain views, the Heritage Villas Valriche residences are a mere 40-minute scenic drive from the airport and just 20 minutes from the popular town of Black River in the west.

Heritage Villas Valriche at a glance: Villas with two to fiveplus bedrooms ranging from 250m² to 900m²; Private serviced plots of 600m² to 2,500m²; Truly spectacular views over the mountains, golf course and sea; More than 170 villas and plots of land already sold; Priveleged access* to a multi-award winning golf course, two five-star resorts, 17 restaurants and bars, three sports centres, two spas and a 1,400ha nature reserve; and An award-winning rental pool, which continues to attract a number of toprating TripAdvisor reviews and awards. * Upon membership

• • • • •

•

Les Promenades d’Helvétia

A highly sought-after real estate development, Les Promenades d’Helvétia is the first residential project launched within the Moka Smart City. It gives foreigners the opportunity to acquire property in a fastdeveloping region in the heart of Mauritius.

Buying property at Les Promenades d’Helvétia has a number of advantages, including: A central location with a well-developed and efficient road network; Shops, schools and services close by, allowing time saving and contributing to the exclusive lifestyle; Substantial capital gains: similar projects in the region have appreciated at an average of 35% measured over a five-year period; and An average rental yield of 7% recorded in the region.

• • • •

GET IN TOUCH Mauritius Sotheby’s International Realty Tel 083 309 0760 E-mail: info@sir.mu sothebysrealty.mu

Y FOCUS ON: MAURITIUS SOTHEBY’S INTERNATIONAL REALTY “Mauritius has become a favourite place for foreign owners seeking an exclusive lifestyle”

Heritage Villas Valriche

Les Promenades d’Helvétia

The west coast of Mauritius

La Balise Marina

Heritage Villas Valriche

HOMEFRONT EXPERT TIPS

How to sell in a buyers’ market Agents report that there is plenty of life in the property industry for savvy sellers WORDS: STAFF REPORTER :: PHOTOS: SHUTTERSTOCK

W

hile sellers cannot control the economic climate, they can control how to react to the property market — and a level head still brings rewards.

Although the recession in SA has tilted the market in favour of buyers, agents say that serious sellers can take advantage of these good buying conditions.

“Pricing ‘correctly’ for your local market at the outset is always the key to selling quickly at only a small discount to your asking price,” says Berry Everitt, CEO of the Chas Everitt International Property Group.

“Determine an asking price that closely matches specific local market realities.”

Make sure your property is in the best possible condition and consider all serious offers. Seeff Properties CEO Stuart Manning concedes that there are challenges for sellers, though. Demand and prices are flat while stock levels are rising.

So while banks are granting more home loans and there is a desire to buy, many buyers are taking a “wait and watch” approach.

He says there is no need to wait — the market is in a much better position than after the 2007-08 crisis.

Sellers take note: Everitt

advises buyers and investors to ignore negative sentiment and purchase more property as soon as they can.

“Buying is exactly what investors should be doing now,” says Everitt, “not sitting on the fence waiting to see what everyone else is going to do.”

Agents also report that the market is not as inactive as many believe.

Seeff Property Group’s chairman Samuel Seeff says there is still a lot of life in the industry. “There are opportunities aplenty in property,” he says.

“Deeds Office data shows that thousands of sales transactions are concluded every month.”

RE/MAX of Southern Africa regional director and CEO Adrian Goslett reported a 12% growth in registered sales for the month of August compared with August 2017, while Harcourts SA showed 8% growth in Q2 2018 year on year, according to Harcourts Africa CEO Richard Gray.

RealNet estate agency group MD Gerhard Kotzé says there is still high demand and strong activity in entrylevel markets. “This is largely due to the banks being more willing to lend to first-time home buyers entering the market.”

FIVE MUST-DOS FOR SERIOUS SELLERS

1. Choose a skilled local agent — a strong local area agent who has been through the ups and downs is your best guide to helping you set a realistic price.

2. Price your property

“Pricing ‘correctly’ for your local market at the outset is always the key to selling quickly at only a small discount to your asking price” Berry Everitt, CEO, Chas Everitt International Property Group

in the right range — the mid-market range is always active. Ensure it is in the range that is attracting buyers and sales. There is no point listing at the highest price in the street. If you have high price expectations, you are helping other properties sell. You may attract attention, but will not get a serious offer.

3.

Differentiate from your competitors — ensure your property is in tip-top

selling shape. With more to choose from, buyers will be highly selective and will choose the property in the best condition at the best price.

4. Sell before the

summer rush — many buyers want to spend summer in their new home, which means that they will want to get their offers to purchase accepted.

5. Consider all offers

— cash always trumps a subject-to offer and provides a more secure sale. If you are looking to test the market, now is not the right time. If you turn down an offer it may be the only one you receive for a while.

78 CORLETT DRIVE, MELROSE NORTH AWARDED 6 STAR V1.1 GREEN STAR RATING

Roger Brookes Projects Director, Enrico Daffonchio Architect, Michele Brookes Managing Director of Legaro

Congratulations Legaro WINNER OF THE HIGHEST RATED BUILDING 2017-2018

Legaro Property Development is passionate about creating the highest value and lifestyle for homeowners and investors. And we do this without compromising the environment. This award affirms our commitment to eco-friendly and sustainable building practices as we aim for zero carbon, waste, water and zero impact on the ecology. For us and for Earth

www.legaro.co.za

HOMEFRONT COMMERCIAL

Logistics investments are hot property Three companies are tapping into demand for high-quality industrial assets such as logistics, storage and distribution facilities.

Welcome to the commercial future WORDS: SARAH HUDLESTONE :: PHOTO: SHUTTERSTOCK

P

roperty investors, particularly those who have taken a hit on investments in the retail and office property sector, are looking for relief in the industrial sector. They are specifically focusing on warehousing and logistics, which boast vacancy rates of almost zero.

This is in stark contrast to the office sector, which is beleaguered with progressively increasing operating costs and higher vacancy rates. According to a recent report by the South African Property Owners Association (Sapoa) on office property released

last month (October 2018), asking rental in the office sector has again dipped below inflation and remains negative on a three- and five-year view.

This is “indicative of the low-growth environment coupled with an excess supply in the market”.

SOPHISTICATED It is no secret that with globalisation and a partial switch from manufacturing to distribution in developed countries, the logistics industry is becoming increasingly sophisticated. Property investors and developers are naturally tapping into this growing trend.

The massive growth in e-commerce globally has necessitated the

development of stateof-the-art, largely automated warehouses for individual retail chains and e-commerce businesses.

And in SA, prime logistics assets are fast becoming the most sought-after property assets to own.

According to Redefine Properties’ industrial asset manager Johann Nell, in 2017 the average rental growth for logistics assets was 8%. Sapoa data shows that rental growth in retail properties last year was on average lower than 4%. And in some cases, landlords were forced to accept reversions in rentals or face the loss of tenants.

NEW STRUCTURES “About 20% of Redefine Properties lies in the industrial sector with about 40% of that being in warehousing and

HOMEFRONT logistics,” says Nell. “For modern warehousing and logistics operations one needs to build new warehouse structures, which are effectively a blank canvas that tenants can adapt to meet their own needs. Old warehousing spaces often have pillars and are not open-plan enough to meet modern requirements. So we seek new sites, which we develop.

“We are busy with a number of new developments, which we expect will soon be fully let. One is the S and J Industrial Development on the N3 in Gauteng near the Geldenhuys interchange,” says Nell.

NEW SPEC “Actually, we have five or six new spec developments around the country including Brackengate 2 mixed-use Business Park in the Cape.”

Situated along the R300 freeway, Brackengate 2 is viewed as one of the most valuable industrial nodes in the Western Cape and is packed with potential.

The bulk services and infrastructure development on the mainland precinct are complete, and about 21,000m 2 of big-box developments are under way.

“For the convenience

of the tenants and their customers, the development includes a new Planet Fitness facility and a DIY lifestyle retail centre, which will also serve the growing group of higher LSM shoppers in the area.

“The unique design and layout of the park allows for diversification of space usage, which will be more convenient for the tenants and their customers,” says Nell.

OFFSHORE Redefine is also invested offshore in the industrial sector. It recently acquired a 95% share in a portfolio of nine operating logistics properties located throughout Poland for €185.8m (R2.9bn).

It has also entered into a five-year exclusive priority right involving a pipeline of 24 new warehousing and logistics developments with Panattoni, a market leader in the leasing and development of logistics properties in Europe.

Redefine has the right, but no obligation, to acquire and develop these assets.

While Redefine Properties operates in the retail, office and industrial sectors, star property performer Equites is enjoying great success with its dedication to the warehousing and logistics sector. It was the first specialised industrial Reit

company, listing on the JSE in June 2014 with a market capitalisation of R1bn.

Equites CEO Andrea Taverna-Turisan says today the company is worth 10 times that amount. It now has 52 properties including eight in the UK. In midOctober, Equites announced an 11.7% increase in its share distribution for the six months that ended August 31 2018. It also announced a 49% growth in the value of its property portfolio since August 2017.

The secret to Equites’ success is that it has focused exclusively on high-quality logistics and has established itself as a developer of logistics facilities that meet the requirements of large modern users with sophisticated supply chains.

AUTOMATION Taverna-Turisan says he started his journey in this property sector when he owned a food business for which he required a

warehouse distribution operation. “I developed five or six warehouses in Cape Town, which I sold to Equites on listing.”

Mindful of the volatile exchange rate, Equites has now invested in eight warehousing logistics properties in the UK, which will be operational

by March 2019.

ONLINE “The industrial sector is better positioned in SA than the office and retail sectors,” says Stanlib property fund manager Keillen Ndlovu. “It remains our favourite sector and our preferred stocks are Equites and Fortress Income Fund (based offshore in the Caribbean).

“Equites has been expanding into offshore markets, including the UK, which continues to see growth in online shopping.

Brexit concerns, however, still exist. Fortress has a good development pipeline in Johannesburg, Pretoria

and Durban and is better positioned not only to facilitate the growth in the logistics sector, but also to prompt tenants to move from older to new industrial buildings,” Ndlovu says.

Another successful property investor option is Stor-Age, which is the leading and largest selfstorage property fund and brand in SA, as well as being the only self-storage Reit listed on any emerging market exchange. In the last financial year, Stor-Age made a strategic entry into the UK market with the acquisition of Storage King — the sixth-largest selfstorage brand in the UK. Its portfolio of 50 properties in SA and the UK has a combined value of more than R3.9bn.

Stor-Age CEO Gavin Lucas says the increase in rental income of 87% in the past financial year speaks for itself. “We were able to pay a gratifying dividend of 97.82c a share.”

“For modern warehousing and logistics operations one needs to build new warehouse structures, which are effectively a blank canvas that tenants can adapt to meet their own needs” Johann Nell, industrial asset manager, Redefine Properties

HOMEFRONT PROPERTY NEWS

Retirement brand debut

A

new 125-home retirement village is to be built as part of the prestigious 128ha Clara Anna Fontein Estate in Durbanville.

It will be the first of three planned for launch in Cape Town in the next eight months and will form part of a national rollout of retirement villages under new brand Oasis Life, by Western Cape property developer Rabie Property Group.

The villages, based on the life right model, will offer residents lifestyle benefits

including a dedicated clubhouse providing both leisure and primary healthcare facilities, which will be built as part of phase 1 of each village.

The first phase of Oasis Life Clara Anna Fontein will comprise 56 one-, two- and three-bedroom freestanding homes, all with exclusiveuse gardens including garages and covered patios, with prices ranging from R2.3m to R5.5m.

Residents can enjoy the facilities of the newly completed lifestyle centre,

which includes a dining room, lounges, meeting rooms, a restored 18th century manor house, gym, tennis courts, squash court and 25m solar-heated swimming pool.

The first handovers are scheduled to take place in early 2020.

When complete, Clara Anna Fontein will comprise 125 retirement homes, 344 single residential homes, 126 group housing homes in The Village townhouse development and a Reddam school.

Sales gathering pace at Paarl residential estate

H Airport to anchor Durban aerotropolis

I

nterest is growing in a giant aerotropolis development anchored by Durban’s increasingly busy King Shaka International Airport, says Tongaat Hulett Developments.

The 32,000ha Durban Aerotropolis will be a special economic zone, to form the heart of Africa’s first purposeplanned aerotropolis to be built from scratch.

The freight-orientated development will be a premier business and trade hub located strategically between the ports of Durban

and Richards Bay. Tongaat Hulett’s development portfolio for the region will include next-generation urban amenities, multimodal logistics platforms, business parks and a wide range of residential opportunities including quality affordable housing.

The airport region is expected to deliver 750,000 permanent jobs and 42-million square metres of business development, while accommodating 1.5-million residents. The estimated investment potential is R1-trillion.

Six key investment sectors have been identified: advanced manufacturing, health and pharmaceuticals, aviation and aerospace, tourism, agriculture and agri-processing, and electronics and electrical components.

“The aerotropolis platform will propel these industries forward by attracting development and investment opportunities in a favourable spatial, social and economic environment,” says Tongaat Hulett MD Michael Deighton.

Pretoria student residence

R

espublica Hatfield Square has relieved some pressure on the Pretoria student accommodation market as 2,200 beds in varied accommodation options have become available for the 2019 academic year.

Close to the University of Pretoria’s main campus, the completed development is part of a mixed-use precinct that includes modern student residences alongside retail and leisure facilities

specifically designed for the city’s large student community.

Students have already secured 1,300 beds in the residence — part of a R1bn project between Respublica and Redefine Properties — with the remaining accommodation available to be occupied in the coming weeks.

Hatfield Square is one of 10 developments in SA owned by Respublica Student Living aimed at closing the gap in the

student housing market.

“Respublica has shown students that there is a better, affordable alternative wherever it has built residences,” says CEO Craig McMurray.

The residence offers various room configurations and premium facilities such as unlimited Wi-Fi, a gym, multiple recreation rooms, outdoor courtyards, communal pause areas on each floor, laundry facilities, study rooms, computer labs and a swimming pool.

omes in Paarl’s Le Parc Residential Estate continue to sell rapidly, with the developer already planning phase 3 of the complex.

Phase 1 was released in May and is 95% sold, while sales of phase 2 hit 75% just 10 weeks after being released to the market.

“The estate caters for families who want to live in a safe and secure environment that offers a

range of distinct lifestyle aspects as well as luxury, well-built homes at reasonable prices,” says Le Parc Residential Estate’s Martin van Rooyen.

The estate’s two- and three-bedroom turnkey homes are priced between R2.24m and R3.155m, with a 5% deposit required.

There is no transfer duty.

Seven home styles are available, which include single- and double-storey

options. The single-storey homes have two or three bedrooms, two bathrooms and a double garage, while double-storey homes offer three bedrooms, two or two-and-a-half bathrooms and one or two garages.

The estate features orchards, olive groves, vineyards, small parks, a 4km jogging and bike track and an onsite crèche catering for up to 150 children.

Saxony Sandton to launch

T

he R2bn Saxony Sandton luxury residential development is all set for launch tomorrow. Its developers say the complex will dominate the Sandton skyline and redefine the neighbourhood lifestyle.

Billed as an “architectural masterpiece”, the 29-storey complex of lavish two-, three- and four-bedroom sectional title apartments and penthouses will

be launched online by Rainmaker Marketing, starting from R3.2m.

“It was the obvious choice to launch The Saxony Sandton online to afford interested buyers an opportunity to purchase a unit from anywhere in the world on a dedicated online platform,” says Saxony Developments CEO Rajan Naidoo.

The architecture introduces a dynamic,

triangular form with the facade being clad in glass, with brass-coloured metallic screens. “Our goal was to introduce international, cutting-edge architecture with a touch of African flair,” says IYER Urban Design director Nathan Iyer.

Facilities include a wellness centre, smart office spaces and a highrise bar with a whisky and cigar lounge.

e c n e d i eR s

Aiconnic

A CENTRAL JOHANNESBURG LANDMARK

LIMITED THREE AND FOUR BEDROOM EN- SUITE LUXURY APARTMENTS LEFT ON THE FINAL HOME RUN

INVESTMENT

SECURITY

RESORT FEEL

LEISURE

LIFESTYLE

Appreciating (prices are fetching more than 60% of their original value)

Safety: state-of-the-art family security has no price

Uninterrupted views stretch from Northcliff to Oliver Tambo

Signature Jack Nicklaus Houghton Golf Course with jogging paths

A five-star hotel, part of The Leading Hotels of the World Group, on your doorstep

W AT C H T H I S S PA C E F O R E X C I T I N G N E W S O N T H E H O T E L OSBORN RD

M1

HOUGHTON GOLF CLUB

2ND AVE

Luxury apartment 8555, is open for daily viewings.

A limited number of apartments are still available.

WARREN BECKER 082 302 3004 | warren@thehoughton.com ASHLEIGH SMITH 073 220 7357 | ashleigh@thehoughton.com Gate 2, 53 Second Ave, Houghton | Show apartment 8555