Neighbourhood 10 OCTOBER 2020
PROPERTY & LIFESTYLE
East coast upswing Properties across all price bands are selling in Port Elizabeth and East London, page 4
2 60+ LIFESTYLE OPTIONS yourneighbourhood.co.za
4 RIVAL BUYERS INCREASE PRICES
4 CAPE TOWNâ€™S TRENDING HUB
Connecting homeowners with great communities
10 OCTOBER 2020
The perfect lifestyle for 60-plussers When comfort, aesthetics, technology, design and health precautions all come together smartly in a retirement estate, you’re all set WORDS: KIM MAXWELL • IMAGES: SUPPLIED risk groups of retirees interact in communal spaces and facilities, and explored aspects such as physical security, financial peace of mind, hospitality and continuous care. ACCESS CONTROL Evergreen Lifestyle Villages MD Garry Reed says they learned from being forced to shift to virtual interactions. “During the toughest lock-down period, Evergreen had to relook onsite logistical procedures such as residents’ health monitoring and moving nurses to live inside its villages. We had to rethink how we operate daily, with clear definitions of shifts, roles and responsibilities on site. The way we approach design and layout now takes safety into account even more.” Touchless access control was also implemented in villages. “Evergreen is continuously looking to improve the lifestyle and welfare of its residents through a combination of design development, innovation, technology and operations,” says Evergreen Lifestyle’s head of developments Julie Morelle.
ase into the retirement process 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 for your retirement years 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. 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 onesize-fits-all option for retirees looking for community living in a secure environment. Some cater for multiple family and retirement phases. According to Devmark Property Group’s national sales manager Bruwer de Jager, the success of their
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Retirement Collection villages lies in offering everything. “Location is of paramount importance. Our developments including The Plettenberg Manor, Helderberg Manor and Langebaan Manor are situated close to beaches, shops and restaurants. Furthermore, amenities usually include a clubhouse, hair and beauty salon, coffee shop, gym, assisted living suites and 24hour care — all in beautifully landscaped gardens,” he says. De Jager adds that garden and house-cleaning services make leading a lock-up-and-go lifestyle achievable. Retirement villages limiting visitor access and insisting on only gate deliveries for groceries during the pandemic, highlighted the importance of top-notch health security too. It’s why Evergreen has undergone a redesign of safe spaces for its seniors. The developer looked at how higher-
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10 OCTOBER 2020
For instance, they made the design of units more compact, yet still offering comfort and quality. All homes have a private outdoor balcony or garden too — on top of communal recreational areas. “At Evergreen we embrace flexibility — designing more, yet smaller — amenities for socialising and coming together. Post-Covid we are fast-tracking 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 ondemand services, adapted to our residents’ needs and requirements.” GAUTENG VOLUMES A Lightstone survey investigated trends within the retirement property industry. Its findings were that, for the total volume of retirement properties transacted across South Africa over the past decade (2009 to 2020), the majority of transfers were conducted in 2013 in Gauteng (2,883), with the Western Cape showing a slight peak by 2017. This might help explain why Evergreen’s Broadacres Lifestyle Village in Johannesburg is described as “a firm favourite” by sales director Phil Wilson. The village consists of 144 – sold out – houses. Another 48 one and two-bedroom apartments were recently launched. Lightstone Property’s head of real estate Esteani Marx says the trend of Gauteng enjoying the most collective transfers in volume terms is not surprising. But she notes that when Lightstone “investigates the value bands in the retirement category, the view is rather different over the last decade”. Marx says Gauteng started enjoying higher
Oasis Life Burgundy Estate will be ready mid-2021 value transfers from 2010, and remained the front runner for those years. But from 2015, transactions in higher value bands started to climb in the Western Cape, and continued to do so until late 2019. Lightstone reports that, during 2018, the variance in value between the Western Cape and its closest competitor, Gauteng, was more than R1m. HIGHER CAPE VALUES Rabie Property Group has seen high demand for its upmarket Cape Town 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, with 18 residents having moved in since June. The first phase includes 58 houses, plus a R25m clubhouse scheduled to open in December. Designed as the “heart and soul of the Oasis Life village”, a restaurant, healthcare suites, library and event space “will complete the well-rounded offering of Clara Anna Fontein” and set into motion “its hospitality-based lifestyle” according to Rabie director Miguel Rodrigues. For Devmark’s De Jager, geographic appeal is a no-brainer. “The Western Cape offers some of the most beautiful scenery in the
world and property in the province has become incredibly popular,” he says. HOTEL-STYLE LUXURY Bev Bloch, manager of Pam Golding Properties Specialised Southern Suburbs Retirement sales team, says she has seen “considerable interest” in Quadrant Gardens, a flagship lifestyle retirement development in Cape Town’s Claremont. She describes it as “hotel-style luxury with all the comforts of home”. A few of the 74 apartments are still available, priced from R3m to R6,4m for one to three-bedroom units, including penthouses. Managed by Cape Peninsula Organisation for the Aged (CPOA),
Evergreen is continuously looking to improve the lifestyle and welfare of its residents through a combination of design development, innovation, technology and operations JULIE MORELLE, HEAD OF DEVELOPMENTS, EVERGREEN LIFESTYLE
Quadrant Gardens is a joint venture with private developer Corevest. “In keeping with the latest retirement trends, all apartments are sold on a life right basis, through CPOA, who is responsible for rates, security, maintenance and building insurance,” says Bloch. This year, Lightstone singled out Burgundy Estate near the Durbanville Winelands as one of SA’s top-10 most popular retirement estate choices for 60-plussers. Oasis Life Burgundy Estate is in its first phase of construction, with 24 houses and 33 apartments set for completion in mid-2021. EAST COAST’S GROWING SHARE In Port Elizabeth, health, a community lifestyle and financial benefits are all part of the deal at the Amdec Group’s multigenerational Westbrook Lifestyle Estate. The development provides secure living in affordable designer homes with footpaths, running and cycling tracks. Their first development, The Ridge, is sold out and they have just launched their new village, River Dale. “Our vision of a walkable environment with homes and communal areas has come to fruition,” says managing director of Westbrook residential developments Clifford Oosthuizen. “The Ridge is already home to a happy and thriving community. We anticipate the same success for River Dale”.
Quadrant Gardens' herb garden, Claremont
An Evergreen Lifestyle retirement village is also planned and as there is a Curro school on the premises, offering grandparents a carefree retirement lifestyle while living in close proximity to their children and grandchildren. Westbrook residents’ safety is ensured through electrified perimeter fencing, guarded gatehouses, access control, CCTV and 24-hour foot, bike and vehicular patrols. All homes are also fitted with alarms and security systems.
10 OCTOBER 2020
East London and PE see sales uptick
This smallholding is priced at R11.995m in Sardinia Bay, Port Elizabeth Pam Golding Properties in the Eastern Cape hubs of Port Elizabeth and East London reports escalating residential property sales across all price ranges, since June this year.
property as they perceive a better return on their investment in this asset class. Top-end sales are seen in the Nahoon Mouth, Glen Gariff and Beacon Bay areas where a home recently sold for R6,35m.
Stands are also selling in both cities, suggesting a demand for new homes.
Properties up to the R2m mark are also in high demand with popular areas such as Vincent and Beacon Bay fetching prices between R1,6m to R2,2m.
While the housing market here underperformed relative to the national market during much of the past decade, it has enjoyed 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 since the onset of the Covid-19 pandemic, which sees them selling or upscaling to larger properties or moving to more expensive areas closer to schools, beaches and other amenities. He says investors are also buying
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 in demand with sectional title sales increasing at prices ranging between R1,1m and R1,3m for a two-bedroom townhouse in a cluster development.
Justin Kreusch, an area principal for Pam Golding Properties in PE says family homes are in demand here with mostly locals either trading up or scaling down, and a small percentage of professionals relocating from other major centres. “We’ve seen unprecedented activity in areas such as Richmond Hill, Walmer, Summerstrand, Lorraine, Glendinningvale and Mount Croix,” he says. “Sales at the top end of the market include a 520m2, four-bedroom home in Little Walmer Golf Estate for just under R7m.”
Competing buyers push up asking prices Buyers competing for soughtafter homes priced below R2,5m are in some instances pushing up asking prices, according to fixedfee agency Eazi Real Estate.
“Our offer and administration processes have always been online, and going forward, more and more buyers and sellers are benefitting from this capability.”
“Not only are asking prices in this price band readily being achieved, they’re also sometimes exceeded, with these high-demand properties selling in one or two days,” says Eazi Real Estate's CEO Richard Day. “This happens when buyers submit competitive offers, resulting in properties being sold for above the asking price.”
With interest rates at record lows and no transfer duty payable on properties up to R1m, many of Eazi’s purchasers are first-time buyers and young couples or families, including those upsizing or downsizing.
According to Day, Eazi has seen sales increase by 166%, 366% and 200% respectively for June, July and August this year. He says although they sell most homes in less than 30 days, some properties are now being snapped up in just a few days. “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 quickly and easily to the new regulations,” he says.
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 bigger properties. And in the sectional title market, we are defintely seeing an increased appetite for homes with gardens.”
Port Elizabeth hasn’t experienced the expected countrywide buyers’ market post-Covid-19, instead, he says, well-priced properties aren’t 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 sold at full asking price, a month later,” he says.
This Fish Hoek home sold for R2.75m
Cape Town’s East City on the rise Just nine months after launching to market, 63% of The Harri, a new 48-unit apartment block and mixed-use property development going up at 75 Harrington Street in Cape Town’s East City Precinct, has sold off plan. Only 16 of 42 studio apartments remain unsold, while just two of the six loft apartments are still on the market. Construction has already begun, with the completion date set for April next year. The Harri’s units are priced between R1,3m and R2m for a studio apartment and R2,5m for a two-storey loft apartment. The development, in the heart of Cape Town’s design district, offers a blend of apartment living with open-plan, tastefully furnished, co-living and co-working spaces, and includes fireplace lounges, a TV room with a large smart TV and access to Netflix, three dedicated Zoom (video chat)
rooms, a rooftop terrace with a gas braai and mini-bar area, and hotel-grade amenities like Wi-Fi, a concierge, a housekeeping service, and 24-hour security. “We sold right through lockdown,” says Jeff Kleu, co-developer with Steven Lampert, both of propertydevelopment company Sepia and Silk. “We sold to investors wanting to buy to rent, parents buying an apartment for their student kids or a holiday flat, and to locals as well as Zimbabwean, German and American nationals.” Harrington Street has been at the heart of the recent revival of the East City, which was previously a gritty industrial-commercial area. Major developments here include the upgrading of the Cape Town City Hall at a cost of R27m, The Old Granary at R31m, the purchase of the Nicro head office on Harrington Street by a European company, Groupe SOS, for R30m,
and the opening last year of a R75m five-star boutique hotel on Church Square. Sandra Gordon, research economist for Cape Town’s Central City Improvement District,
says, “Numerous applications submitted to the City suggest that a variety of new retail and food outlets are set to open their doors here, which will really cement the East City’s reputation as a trendy precinct that sees people flock to
the area at the weekend.” The Harri is close to the Gardens Shopping Centre, Virgin Active Wembley Square, and MyCiti bus stops. It's also an easy drive to major beaches from the CBD.
yourneighbourhood.co.za | 10 OCTOBER 2020
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Spacious Studio Apartment. Fully furnished catering for two occupants
All sorts of entertainment on your doorstep. Enjoy sitting at the pool with magnificent views on offer. Cross the road, walk, jog, bike on the promenade next to the sea. This must be the best position in Port Elizabeth and is a corporate disposal, therefore in the event of a vat vendor acquiring this valuable apartment, the vat portion can be claimed. Perfect for student accommodation. The purchase price at 7% interest over 20-years translates to a monthly payment of approx. R6 200.00 / month. On the bus route, central to everywhere. Secure. After the completion of studies, dispose of the unit and recover most of the university accommodation costs. Markers: Follow the marker from the corner Marine Drive and Brookes Road. At Dolphinarium. Call Sally 083 232 4162 or Alan 076 645 1708 to view.
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yourneighbourhood.co.za | 10 OCTOBER 2020
Neighbourhood PROPERTY & LIFESTYLE
AGENT INDEX Keyhousing Development..............................6 Legal Eagle....................................................6 Sally Watkins Properties............................... 5
UITENHAGE / DESPATCH Talietha Holloway Properties........................ 7
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Pointers: Follow the marker from the corner Marine Drive and Brookes Road. At Dolphinarium.
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KEY HOUSING PROPERTY DEVELOPERS
Claire Crescent, Ben Kamma, Port Elizabeth.
Built by one of PEâ€™s leading developers
Selling Price R1 550 000 â€“ R2 000 000
VIEW BY APPOINTMENT
Stunning Upmarket handcrafted face brick units available in this Sectional Title Townhouse Development. Several options available at present â€“ choice of Plots and ďŹ nishes. Stylish 3 Bedroom, 2 Bathroom homes all have Granite Tops ďŹ tted to Kitchen and Scullery. All have large Open Plan living areas and Double Garages. Notting Hill boasts High-speed Fibre connectivity.
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FOR THE INVESTOR / STUDENTS This beautiful home offers 2 bedrooms, lounge with fireplace, kitchen, bathroom and secure parking all in the heart of Central. R620 000 STEPHEN 082 400 9510
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