On course to get into the swing
Investors are still willing to pay a premium for the right address on the right golf course. Lea Jacobs reports
GOLF estates offer more than good living — they offer great investment growth as well, says Keith Colley, MD of Seeff Somerset. That said, he believes that buyers are still more interested in the lifestyle offered, with many choosing these as their primary residence with a good return on their investment as an added bonus.
“Estates such as Erinvale Golf Estate in Somerset West offer a unique country lifestyle and the prestige of exclusive estate living — an attractive option for executives and families,” he says.
Seeff manager Loretta Diab says that a secure village lifestyle has greater appeal because of the rapid urbanisation of the country’s major metropolises, and that upper-income buyers are not deterred by commuting to a city daily.
The estate is set in Somerset West, the entrance to the wine route, not far from the Indian Ocean’s waters and sandy beaches and against the dramatic backdrop of the Helderberg and Hottentots Holland mountain ranges.
“Golf Estates such as Erinvale offer a winelands setting surrounded by beautiful mountains, yet with beaches a mere 10 minutes away. Cape Town is half an hour’s drive away and the airport is en route. The 150ha estate includes a golf course designed by Gary Player and facilities such as a clubhouse, tennis courts and park-like gardens. It is close to wine estates and a fynbos nature reserve.”
Diab says that the demand for, and inherent status of, golf estate residences is reflected in the prices, which are generally at the upper end of the scale. These homes provide a prestigious setting for executive entertainment as well as a secure countrysetting to raise children, with top schools and facilities mere minutes away.
She says that Erinvale Golf Estate remains a blue chip property investment despite the downturn in the market.
“During the past year 10 homes have sold here at an average price of R5,63m and two above R10m. There has been no drop in the average price, which was R4,9m in 2008, now up by 15,06%. Since 2004 the average price of homes here has grown by 51,5%, from R3,72m.”
Homes in the estate are luxurious, set on large plots and are consequently priced up to R14m, such as the Osprey Lane villa that Seeff is currently marketing.
Set on a stand of 1 988m² with a fynbos garden, the villa offers 650m² of floor space and includes six bedrooms with en suite bathrooms.
The double-storey home offers executive living and is built with entertainment in mind. Upstairs terraces provide the opportunity to enjoy the tranquil surroundings, while the ground-level entertainment patio overlooks a private swimming pool and stunning mountain views. Additional features include a games room, utility room, work room, study, sauna, golf cart room and a wine cellar, as well as garaging for three vehicles.
Seeff Properties Loretta Diab 082 416 6982 Office 021 851 4141