Neighbourhood PTA - 27 October 2019

Neighbourhood 27 OCTOBER 2019

PROPERTY & LIFESTYLE

For the love of water The Blyde is where any inland water lover needs to be, because who can resist living next to a lagoon perfect for swimming, kayaking, paddle-boarding, or simply relaxing at the water’s edge? page 8

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PROPERTY FOCUS: SEASIDE LIVING

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BUYING A FORECLOSURE

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Connecting homeowners with great communities

DEVELOPMENTS IN PROPERTY

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PROPERTY NEWS

27 OCTOBER 2019

Neighbourhood

Property focus

SAN LAMEER, KZN NORTH COAST

THE DUNES, KZN

Coast to coast

Although living, working and playing in the city remain a popular option, especially among millennials, many South Africans and foreigners prefer to invest in dream homes on the coast OCEAN VILLAS, WEST COAST

WORDS: TRACY ANN VAN BLERK & MIRIAM MANNAK

IMAGES: SUPPLIED & SHUTTERSTOCK

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outh Africa is renowned for its magnificent 3,000km stretch of coastline offering a wide range of places to live. From spectacular cliff-top homes and quaint beachfront towns to secure coastal estates, lock-up-and-go holiday homes and trendy apartments – it’s good news indeed that this is the time to buy.

On the Atlantic Seaboard – arguably SA’s most expensive area – recent FNB statistics show the growth rate in home prices has fallen from 25.5% in the first quarter of 2016 to 5.1% in the first quarter of this year. “Even luxury estates such as Zimbali on the KwaZulu-Natal North Coast has experienced this trend, with asking prices of certain properties decreasing from R16,9m to R13m and from R15,9m to R12m,” says Rory O’Hagan, head: luxury portfolio division, Chas Everitt International.

STRAND BEACH, CAPE TOWN

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Amid one of the best buyers’ markets in decades, South Africa presents a great opportunity for local and foreign property investors to get

a foot in the door at some of the country’s most desirable coastal locations. Low interest rates and keen competition between banks to grant mortgage loans are two additional factors fuelling the current market conditions.

Cape Town Atlantic Seaboard & CBD

Proximity to the city and Cape Town’s natural beauty is the winning combination of this sought-after area.

“Local buyers who want to downsize, foreign investors, semigraters and short-term buy-to-let investors are all part of our buyer pool on the Atlantic Seaboard – from the V&A Waterfront and Sea Point,

ADVERTISING SALES: Call us for advertising opportunities on 087 828 0423 Production: Lucea Goosen pretoria@yourneighbourhood.co.za Online coordinator: Chantelle Balsdon chantelle@augmentcreative.com

27 OCTOBER 2019

Neighbourhood

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PROPERTY NEWS

The time is now!

MANHATTAN ON CORAL, CAPE TOWN

to Bakoven and Camps Bay,” says Richard Hardie, Knight Frank Real Estate. “This extends from apartments to freestanding homes.”

Rob Stefanutto, Dogon Group director and head of developments, concurs.

The secret to success, according to him, is creating a product offering to fit all consumers’ needs, ranging in price from R899,000 to R30m. Moreover, partnering with well-respected development groups that can deliver high-quality properties, is crucial.

“Lock-up-and-go convenience with a twist,” is how Horizon Capital Residential MD David Sedgwick describes the The Aster in the City Bowl’s Oranjezicht. “These apartments are ideally suited for owners looking to downscale, with the benefit of a spacious outdoor area for easy entertaining and access to the beaches of Camps Bay, Bakoven and Clifton,” he says.

Cape Town Western Seaboard With its white beaches, postcardpretty views of Table Mountain, excellent schools, restaurants, shopping centres and easy public transport to and from the city, the Western Seaboard is a popular choice for property investors. The value proposition is also much more attractive to buyers who are unable to afford the prices characteristic of the Atlantic Seaboard.

Manhattan on Coral, a New York-style apartment block in the Blouberg area, offers a selection of bachelor, one- and two-bedroom units, CleverProp.com CEO Schalk Pienaar says. “The design is distinctly edgy and based on typical industrial warehouse conversions.

The open-plan apartments feature segments of exposed brickwork and steel beams, as well as floor-toceiling industrial-style windows.”

Andrew Plunkett of The Milnerton Estates says buyers of its new Sandown development, currently being built along Sandown Road, mostly come from the surrounding environs. “They are homeowners

wanting more modern architecture, with security, education facilities and convenience in mind.”

Always popular are Atlantic Beach Golf Estate and the Big Bay Waterfront. “Smaller apartments at Atlantic Beach start at R2m while cluster-style homes sell from R3m,” says Emarie Campbell, Pam Golding Properties principal for the western seaboard. “The Big Bay Waterfront offers secure estates with sweeping views over the ocean. House prices can reach up to R18,5m, with apartments starting at R1,65m.”

West Coast A variety of fynbos, a beautiful rocky coastline, and an annual show of flowers blanketing the the hills and farmlands in spring are only a few of the drawcards of the West Coast.

Yzerfontein, once a sleepy little town, is now attracting a variety of property investors, says Graham Katz, Yzerfontein Property Developers, whose Ocean Villas was built to reflect contemporary West Coast architecture.

“Clients who have bought here are a combination of local and national investors who want to take advantage of the exceptional lifestyle and value offered at this exclusive gated beachfront estate,” says Katz.

THE FAIRMONT, CAPE TOWN

it consists of 216 two- and threebedroom homes. The development is pet-friendly and each open-plan home features an enclosed garden.

KZN Balmy weather, an ocean warm enough to swim in, and green rolling hills epitomise this part of the country.

Natural beauty and quality of life aside, there are more pragmatic reasons for investing in coastal property. According to Lightstone’s Residential Property Index, at the end of July this year the national house price inflation index was at 3.6%, with the Western Cape continuing to buck the national trend with an annual rate of 5%. And while inland municipalities’ rates are between 1% and 4%, coastal areas generally perform above this range at about 3%. This means a seaside home is an attractive investment option, whether you are an international investor or a local resident wanting to semigrate, buy a holiday home, or retire.

Coastal estates on the KwaZuluNatal North Coast have experienced unprecedented growth over the past few years. San Lameer Villa sales director Derek Thomson says buyers at this secure beachfront family leisure and golf estate are primarily affluent businessmen and -women from Gauteng looking for a piece of natural paradise. “Wealthy retirees have recently started to settle here, along with a handful of foreign investors or swallows who chose to enjoy the province for a couple of relaxing months at a time,” he says.

The Dunes Eco Estate is another attractive option in KZN. “It’s a small estate comprising of 34 grid-tied sectional title homes. There has been a mix of purchasers and tenants, with downsizing being the most common reason for buying,” says Rick Pulvirenti, Sanhall Property.

THE ASTER, CAPE TOWN

Campbell agrees that Yzerfontein is growing in popularity. “This is because of its excellent schools such as Curro Langebaan, just a short bus drive away,” she says. The value-for-money element plays a role, too. “Homes in Yzerfontein are listed from R1,5m, while vacant land starts at R500,000.”

Langebaan, with its pearly white beaches on the West Coast, is a longstanding semigration hotspot.

Close to the West Coast National Park, this town is all about lifestyle, leisure and water sports. The same counts for Paternoster and St Helena Bay a little bit further afield.

Laaiplek, a small enclave close to Port Owen and Velddrif, is the site of Atlantic Waves, a brand-new development by Multi Spectrum Property (MSP). The perfect entrylevel option for buyers looking for a holiday home on the West Coast,

LANGEBAAN, WEST COAST

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PROPERTY NEWS

27 OCTOBER 2019

Neighbourhood

Foreclosure facts Here is what you need to know when buying a foreclosed property WORDS: ANNE SCHAUFFER

IMAGE: SHUTTERSTOCK

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foreclosure property is one where there’s legal action being taken against the owner/s, ordinarily for defaulting on their credit agreement by being in arrears.

“Another term for foreclosure is sale in execution (SIE),” says Buyisile Maseko, FNB Home Finance: growth head gold sub-segment. “Essentially, the property is eventually attached, and sold at an SIE by the sheriff, through a public auction.”

Maseko explained the ins and outs of the process, “When it comes to foreclosure/SIE-bound properties, because the bank is not the owner of the property but merely a mortgage holder over it, prospective buyers cannot make any offer(s) directly to the bank – they need to contact the owners/customers directly. Currently, when a customer is under financial distress, the bank makes available options such as Quicksell where the bank has consent from the customer

to advertise his/her property to interested buyers – this process entails the use of estate agents.”

The process and the payments

“With foreclosure/SIE, if you buy a property from SIE, there’s no estate agent. There’s a 10% deposit on the full purchase required on the spot and on the day of the SIE, of which 6% will be the sheriff’s commission.

There’s no predetermined purchase price – the SIE process derives purchase prices by way of bidding and the highest bid is regarded as the purchase price. Thereafter, the buyer has 21 court days within which they can settle the balance of the full purchase price, as well as settle a portion of the outstanding rates and taxes and levies, if applicable.”

What to look out for

According to Maseko, there are a number of things to consider when buying a foreclosed property, such as, but not limited to:

• S tructural defects • Poor area (that is, lack of basic services, community unrest, crime, amenities, etc.)

• Eviction – because SIE is a courtenforced process, some owners may refuse to vacate the properties; this will be the obligation (at the buyer’s cost) of the buyer to handle such instances • With sectional titles and secured estates/complexes – there will be levies payable, over and above the rates and taxes payable to the municipalities.

Hints and tips

Five pointers which Maseko suggests prospective buyers take to heart: • Get a preapproval on a mortgage from your bank before making an offer on a distressed property.

Consider the fact that you’ll be competing with other potential buyers, so it helps having proof that you’re a reliable

prospect to get the bank to accept your bid.

• Look at the condition of the property you’re looking to buy – if a house is too damaged, lenders will often be cautious to finance the purchase. So, if the property needs extensive repairs, you might have to put up extra cash, or take out a second loan to cover the costs.

• Do your research – look at the area where the property is located. It’s not a bad idea to buy a distressed property in a good neighbourhood, but be careful of buying a distressed property in a distressed or extremely depressed neighbourhood.

• Buying a property via SIE is a risk inherent process and as a buyer, you assume all the risk attached to this process. Make sure you understand legislation around foreclosure properties in the country in which you are buying.

27 OCTOBER 2019

Neighbourhood

Soweto a favourite with millennial renters

PROPERTY NEWS

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oweto is home to around 40% of the total Joburg population and this, coupled with the fact that not many people are able to afford to buy property in the current economic climate, is fuelling Soweto’s rental market.

Other reasons contributing to the big rental demand are the many developments like the Lufhereng Development, Elephant Eye and Retlosebetsa currently taking place in the area.

Khosi Sibiya and Phindi Mphahlele, owners, Seeff Soweto, say the rental market here is continuously growing.

This is illustrated by the many queries they’ve recently received from either landlords looking to let their properties, or tenants searching for rental accommodation.

“Areas such as Pimville, Diepkloof and Orlando are especially in high demand because of their proximity to amenities and work places. Protea Glen and Mndeni, for instance, are not as popular because they’re a bit further away from everything, but reasonable rental rates are the norm here. The greatest rental demand is definitely for property priced between R4,000 and R5,000 per month.”

Sibiya and Mphahlele say millennials are the largest generation residing

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in Soweto at the moment and they’re also the group who rent the most.

According to the duo, the property values in Soweto’s 37 suburbs are continuously on the rise and because of this, the area is increasingly appealing to a middle-class market.

“Completed developments, the upgraded road infrastructure, the Rea Vaya bus system, and commercial infrastructures have all added to making Soweto a place people want to invest in and where people want to live – this was not necessarily the case two decades ago.

“At the moment, rental rates in Soweto are around R2,500 per month for a one-bedroom apartment, R4,000 per month for a two-bedroom apartment, R4,500 per month for small homes, and R7,000 per month for large homes with two garages and possibly a swimming pool as well.

“Areas in Soweto with the most affordable rental rates include Protea Glen, Bram Fischerville and Lufhereng and the most expensive rentals can be found in Diepkoof, Pimville and Dhlamini.

“There’s also a demand for student rentals in especially Pimville as it’s close to the Soweto campus of UJ. Prices for student rentals here range between R2,500 and R3,000 per month.”

Convenient, contemporary student accommodation in Stellenbosch

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n a town where student accommodation is always in demand, a new development called Beau Vie stands apart from the rest because of its unique offering and prime location.

Situated on Banghoek Road, Beau Vie is not only well-placed on Stellenbosch University’s Green Route, which affords additional security for students in the area, but it’s directly opposite the Engineering faculty.

The development includes onebedroom apartments instead of the bachelor or two-bedroom units usually offered to students. With only 18 apartments in the development, Beau Vie offers exclusive living for the discerning student.

“When it comes to buying or renting an apartment in Stellenbosch, safety is one of the top criteria for students and their parents,” says Louise Varga, Pam Golding Properties area manager for the area. “Parents want to know

that their children will be able to move safely from their apartment to campus.

Properties located on the university’s demarcated Green Route, have security patrolling on foot and bicycle.”

Parking is a scarce commodity in Stellenbosch and accommodation that is, quite literally, on the doorstep of one of the university’s largest faculties, is a huge drawcard for potential buyers, says Vanessa Johnson, Pam Golding Properties agent, Stellenbosch.

Few of the new residential developments in the town offer onebedroom apartments, but Beau Vie has 16 and two bachelor apartments.

Each unit comes with a combination of fridge/freezer and washer/dryer, as well as a microwave. There’s biometric access control and a security wall with electric fencing. Students will also have a safe communal space to socialise, as there’s a rooftop entertainment area with an undercover braai.

Secure parking is also available.

Being a university town, much of the development in Stellenbosch takes place close to the university.

Student accommodation is a massive driver of the residential property market, considering that of the more than 30,000 students registered annually (2018 data) only 6,500 students can be accommodated in the university’s 31 official residences.

Historically, residential properties in student towns around the world achieve a higher capital growth compared to the national average.

“This is partly due to the impact the influx of students has on the population, which in turn fuels the sustained rental demand,” says Varga. Sectional title property prices in Stellenbosch have therefore increased by 41.6% in the past 10 years (2009 to 2019).

Varga adds, “Accommodation located close to learning institutions can be rented at a premium and occupancy is usually at over 97%.”

Gauteng developer launches newest development

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rivate property development company M&T Development has launched its newest offering. Priced from under R1m, Olive Wood Village is attracting families from all over Gauteng including Sandton, Germiston and Pretoria.

Buyer activity overall shows the demand for sectional title units within secure managed residential estates is on an upward trend. The market is, however, extremely price sensitive.

“We’ve studied the data and researched the market to find that there’s an increasing and overwhelming demand from buyers for homes priced between R769,000 and R1,599m.

What’s emerging now, is a new class of buyer who has previously not had the opportunity, due to financial barriers, to own property – and this is the buyer we’re speaking to,” shares development manager Leon van der Vyver.

Priced from R769,000 and located next to the acclaimed Serengeti Golf Estate, Olive Wood Village is a gated family estate. It offers all the modern conveniences one expects of such a

development – biometric estate access through a manned gatehouse, fibreto-home, smart meters in each unit, and a host of other unique offerings which push Olive Wood Village to rise above its nearest competitors.

“Over and above our competitive, market-driven price point, we’ve also found ways to add even more value to the everyday lives of the residents of Olive Wood Village. The first being the provision of three, or four large appliances which come standard with your purchase and are fitted and ready to go when you move in. This is a huge cost-saver for both first-time buyers and investors, in fact, for any homeowner. Once operational, you’ll have convenient and close access to the Olive Wood Village Shopping Centre which is across the road from the estate,” Van der Vyver continues.

Olive Wood Village is ideally placed along the R21 highway and is only 10 minutes’ drive to or from OR Tambo International Airport. The Olive Wood Curro private school across the road will also add real value to the property.

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Neighbourhood

stneighbourhood.co.za | 27 OCTOBER 2019

Your Home, Our Core Business

SE U O M H -5 P W 2 O S: SH Y’ Y DA M T N SI SU VI N O

www.appleproperty.co.za | 012 348 0123

SE U O M H -5 P W 2 O S: SH Y’ Y DA M T N SI SU VI N O

EQUESTRIA SOLE MANDATE

R1 999 000

GARSFONTEIN SOLE MANDATE

R750 000 R

GARSFONTEIN

R1 R 100 000

IRENE VIEW ESTATE

R2 780 000

MODERN MASTERPIECE WITH LOW LEVIES!

POPULAR COMPLEX - OPPIEHOEK UNIT!

ALKANTMOOI COMPLEX!

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Full title, single storey, 3 bedr, 2 bathr townhouse! Ideal for newly weds/scaling down. 5 star location! Lounge, dining room, covered patio, modern kitchen, laundry & 1 lock up garage. Good security!

This 2 bedr, 1 bathr unit is the perfect starter or scaling down home!

Ample space a front & back garden. Situated in a gated complex.

The unit is close to all major amenities as well as mayor roads.

Loft unit with big garden! Cottage styled unit! The unit offers 2 spacious bedrs with 2 bathrs & a large loft to be used as an extra bedr study or office. Large garden - create your own tranquil space!

An exceptional home, maintained to Perfection! Brand new kitchen, 2 full modern bathrs & 3 Spacious North Facing bedrs. Guest Toilet, Study, 3 Entertainment areas & a Double Garage!

WEB REF: AP 14183 HANNELIZE WILKEN - 084 580 8700

LYNNWOOD MANOR SOLE MANDATE

R2 650 000

4 BEDROOM IN SECURE ENVIRONMENT

WEB REF: AP 13951 WERNER FERREIRA - 079 497 5022

MORELETA SOLE MANDATE

R950 000

STUNNING SIMPLEX WITH A LOVELY GARDEN!

Stylish upmarket home set in a paradise filled garden with pool.

This stunning 2 bedr, 2 bathr, 2 cars simplex has been beautifully Great security system. Entertainers dream - living areas interact with renovated. It is in an excellent complex with a low levy. Please see the kitchen & outside entertainment areas. Well located! the website for more information and give me a call to view it!

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OLYMPUS

WEB REF: AP 14154 HERMAN VAN ROOY - 082 494 1449

R2 520 000

OLYMPUS

R2 540 000

WEB REF: AP 14180 WERNER FERREIRA - 079 497 5022

NEWLANDS

R895 000

WEB REF: AP 13884 MELANIE BURRELL - 082 653 5568

NEWLANDS SOLE MANDATE

R2 050 000

SPACIOUS RETIREMENT UNIT!

EXCELLENT OPPORTUNITY - TOWNHOUSE!

In well managed retirement village, 24-HR security, Sickbay & Restaurant. Open-plan kitchen, dining & lounge area, 2 bedrs & 1 full bathr. Covered patio, garden, courtyard, 1 carport. Be quick!

Townhouse with private garden. North views overlooking the valley!

This exclusive retirement village has a lot to offer. 2 bedrs, 1 bathr, 1 garage, 1 carport & a pet friendly garden! Call now for more info!

WEB REF: AP 14004 BETSIE SUMMERFIELD - 083 488 4748

WATERKLOOF SOLE MANDATE

R2 750 000

WEB REF: AP 12980 PETRO - 082 551 7990 & ANDRE - 082 930 7386

CENTURION GOLF ESTATE

R3 950 000

BUILDING PACKAGE - 7 VACANT STANDS!

VACANT STAND WITH BUILDING PACKAGE

BARGAIN TIME! IMMACULATE HOME!

Choose your favourite out of 4 existing plans or design your own home for a small extra fee. Price includes - City Council fees, Engineering fees, Engineer certificates, Attorneys & transfer fees.

5 vacant stands with building packages & all utilities in place.

Choose your favourite out of 4 existing plans or design your own home for a small extra fee. Price includes lots to help you save!

Private & secure. Walking distance from Brooklyn Mall & all schools. Enclosed patio opens onto an outside patio. 3 bedrs - MES, 2.5 3 bedr, 3 bathr home with a lovely lounge & dining room that leads bathrs, 3 reception areas, chef's kitchen, study, underfloor heating, to the garden & pool. Double garage, carport & service quarters. fireplaces & more! Own access to walking trail & green belt.

WEB REF: AP 14034 GERNE VAN NIEKERK - 072 221 1228

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WEB REF: AP 14032 GERNE VAN NIEKERK - 072 221 1228

WEB REF: AP 14196

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SOLE MANDATE

FROM R1 499 000

THE OPPORTUNITY OF A LIFETIME Situated in the core of the old east of Pretoria with exceptionally high quality finishes in an Up Market Development.

Only 30 units in total, all north facing. 3 different plans: A type units consist of 2 bedrs, 2 bathrs & a study nook.

Ground floor units have gardens. B type units consist of 2 bedrs, 1 bathr & a guest toilet. C type units are duplex units & consist of 2 bedrs, 2.5 bathrs & a guest toilet. Double undercover parking not included in square

metre size of your unit. Units have a separate laundry area! An investment opportunity or for personal use. Call us to discuss your property needs!

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