Sea and moun­tain views on Cape es­tate

Business Day - Home Front - - HOMEFRONT -

REAL es­tate and es­pe­cially small busi­ness in­vest­ment is grow­ing in Som­er­set West, the heart of the Helder­berg Basin. This is ac­cord­ing to Se­eff li­censee Keith Col­ley, who says that aside from steady sales of res­i­den­tial homes, de­mand from in­vestors look­ing for ex­cep­tional, so-called tro­phy homes in the area is also slowly in­creas­ing.

With the ex­cep­tion of the 2008-09 year when prop­erty value de­clined by 3%, year-on-year growth since has been pos­i­tive.

Data sourced from Light­stone, a prop­erty data provider, in­di­cates that the av­er­age val­u­a­tion of prop­er­ties in Som­er­set West is around R1.2m. How­ever, Col­ley says that the town of­fers prop­er­ties to suit ev­ery buyer and bud­get from en­try level through to tro­phy homes that can cost up to R39m.

De­mand for af­ford­able homes in Som­er­set West has im­proved over the past year with around 80% of all prop­er­ties sold fall­ing in the sub-R1.5m price mark. Sales of fam­ily homes priced above R1.5m has also been good with around 10% of all sales in the town fall­ing above this price band, he says.

Buy­ers have been mostly from within the area that have ei­ther up­graded or down­graded with about 20% of new buy­ers mov­ing into the area over the past year, adds branch man­ager, Loretta Diab. First timers and young fam­i­lies have been ac­tive as a cat­e­gory, fol­lowed by older buy­ers look­ing for a tran­quil coun­try en­vi­ron­ment in which to re­tire.

Light­stone data shows that 34% of re­cent sell­ers in Som­er­set West were be­tween 36 and 49 years of age, while 30% of re­cent buy­ers were aged be­tween 18 and 35 years.

While the town has a bustling com­mer­cial cen­tre and a light in­dus­trial area, Diab says that a large num­ber of res­i­dents com­mute daily to work in Cape Town and Stel­len­bosch. There is also an in­flux of small en­trepreneurs set­ting up busi­ness here, she says.

Se­eff at­tributes the sus­tained per­for­mance of the prop­erty mar­ket to a num­ber of fac­tors. The good value of­fered by homes in the town along with the cos­mopoli­tan, yet coun­try-side life­style and prox­im­ity to the city is a strong mo­ti­va­tor for buy­ers. Many of the sub­urbs and homes also en­joy sea views. Fa­cil­i­ties and ameni­ties are also top class in­clud­ing world-class med­i­cal and re­tire­ment fa­cil­i­ties along with the big­gest re­gional shop­ping cen­tre, su­perb restau­rants and of course, top wine es­tates on the doorstep.

Som­er­set West is also close to ma­jor ar­te­ri­als, the air­port as well as uni­ver­si­ties and col­leges and top schools such as Paul Roos, Bloemhof Girls School, Rhen­ish, Her­schel Girls School and Som­er­set Col­lege.

Diab says that buy­ers and in­vestors look­ing for strong cap­i­tal growth and tro­phy homes in a se­cure es­tate, should look at Erin­vale. “It is ranked by Light­stone as one of the best golf es­tates in the prov­ince and coun­try with strong, year-on-year value growth. The av­er­age price of homes in the es­tate has grown by 50%, from R4m in 2006-07 to just over R6m in 2011-12. Sell­ers have also seen ex­cep­tional cap­i­tal growth. For ex­am­ple, we sold a home for R11m re­cently that yielded 66% cap­i­tal growth for the seller who bought it for R6.635m in 2003.”

Sit­u­ated in Lourens­ford Road, Erin­vale is one of the golf es­tate gems in the coun­try. It is a low- den­sity es­tate nes­tled be­tween wine es­tates and a fyn­bos re­serve with stun­ning views of the sur­round­ing Helder­berg and Hot­ten­tots Hol­land moun­tains.

The es­tate of­fers a wide range of res­i­den­tial op­tions; from twobed­room apart­ments and town­houses priced from R2.7m to three-bed­room homes that sell up­wards of R4.5m.

At the top end is this tro­phy home that of­fers ap­prox­i­mately 1,500m² of floor space. Set on a large plot of 2,417m², it boasts ex­cep­tional pri­vacy, both an in­door and out­door swim­ming pool along with lux­u­ri­ous liv­ing spa­ces. Added ex­tras in­clude two wine cel­lars; one for white wines and the other for red wines along with a bar room, snooker room, braai room, gym­na­sium and sauna. The home has three lux­u­ri­ous bed­room suites, two guest suites each with a liv­ing area, a kitchen as well as a but­ler’s flat­let. Price: R39m Contact: Se­eff Prop­er­ties Loretta Diab 082 416 6982 Of­fice 021 851 4141

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