The Bantry scoops record sale

Weekend Argus (Saturday Edition) - - PROPERTY -

THE 313m2 pent­house at The Bantry in Bantry Bay has been sold for a record price of R55 911/m2 by Se­eff Prop­er­ties agents Me­lanie Truss and Adrian Mauer­berger.

Truss and Mauer­berger said this was the high­est rate a square me­tre for a flat in Bantry Bay this year. “The last high­est was R37 500/m ear­lier this year, which makes a sub­stan­tial, pos­i­tive dif­fer­ence. Only two sales have taken place at The B a n t r y t h i s y e a r, b o t h b e i n g re­sales,” said Mauer­berger.

“Ac­cord­ing to the Res­i­den­tial Prop­erty Price Ranger, there were no sales at the com­plex last year. Only four flats have been sold in Bantry Bay this year for more than R10 mil­lion. The un­ren­o­vated price a square me­tre was be­tween R25 000 and R28 000 and the price for this new flat is R56 000/m

At­lantic seaboard MD Ian Slot said homes were sell­ing, but stressed that even the best mar­ket­ing would not sell an over­priced home. He said sell­ers should con­sult a pro­fes­sional agent to help price their prop­er­ties cor­rectly from the start. “You should al­ways ask your agent for a com­pre­hen­sive cur­rent mar­ket anal­y­sis, com­par­ing ac­tual prices prop­er­ties were sold for and the units for sale at present.

“Fur­ther spe­cific com­par­isons need to be drawn of all the prop­er­ties for sale; ask whether they are larger than your home, whether the fin­ishes are of a higher stan­dard, and so on.”

Truss said that since the beginning of July, at­ten­dance at show houses had in­creased and buy­ers were fi­nally com­mit­ting by putting pen to pa­per af­ter agents had been work­ing with them for months.

“Th­ese are ed­u­cated buy­ers who have done their home­work with a ‘let’s sit, wait and see’ ap­proach to pur­chas­ing,” she said.

LOOKING UP: The Bantry in Bantry Bay, where Se­eff Prop­er­ties re­cently sold a 313m2 pent­house for R17.5 mil­lion, or R55 911/m2.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.