Fresnaye’s sky-high homes continue to offer top value, say agents
REGARDED by many as a jewel of the Atlantic seaboard for its beautiful homes, views and Mediterranean climate, Fresnaye is one of the city’s most wind-free suburbs and its location lends itself to remarkable architecture.
Characterised by a dramatic interplay of mountain, suburb and sea, the suburb is popular for its access to beaches, top schools and all the convenience of the Atlantic seaboard coastal strip, including top restaurants.
Not surprisingly, says Seeff Atlantic Seaboard managing direct or I an Slot, i t remains a f i r m favourite with buyers who are pre- pared to pay premium prices for homes there.
“People who buy in the area continue to see value in this suburb which has been consistently ranked by Lightstone as one of the most sought-after in the country,” he says.
“Since 2008, 119 houses have been sold worth R1.047 billion. Although most homes that have been sold here this year have been in the price band of below R10 million, these have shown an average capital growth of 16 percent.
“The average price for the area is also now R6.15m, up from R5.33m in 2010.
“Sales of luxury homes priced above R10m has increased by 24 percent this year amounting to a total value of R73.59m compared t o R59.35m in October 2010 with an average price of R12.265 million, compared to R11.87 million last year.”
Seeff agent Lance Cohen says the area is home to a number of awardwinning architect-designed homes, including a Stefan Antoni-designed home which is now for sale at R24.95m.
Located in the sought-after Top Road, the home has remarkable views – part of what makes this suburb so popular and why buyers and investors are prepared to a premium for properties here.
“The 460m2 Le Grande Vue home is high against the slopes of Lion’s Head on a 528m2 site with spectacular city and sea views,” says Cohen.
“Architectural features include undulating balconies to take advantage of the views and create maximum living space, with an additional 400m2 in terrace space.
“The luxurious home has four bedrooms with en-suite bathrooms and a steam room in the main bathroom.
“There is also a studio, staff accommodation, a double garage and additional parking. A skylight along the centre of the home forms a key feature. The real drawcard of this home – and a good illustration of why luxurious, architect-designed homes come with premium price tags – is the roof-level living spaces, including a swimming pool with sea views, a sky bar and an outdoor lounge.
“Although there are still a few older houses for around R5m, it is mostly the modernised or new architectural masterpieces that characterise the suburb.
“The biggest problem with the area is that once people move in, they never seem to move out and this accounts for the solid capital growth here.”
LE GRANDE VUE: This Stefan Antoni-designed Fresnaye home is for sale at R24.95 million.