Fresnaye’s sky-high homes con­tinue to of­fer top value, say agents

Weekend Argus (Saturday Edition) - - PROPERTY -

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.

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