Grassy Park and Retreat are increasingly sought after
THE CENTRALITY of Grassy Park and Retreat, their closeness to the Cape Town CBD (30 minutes away by train and by car out of rush hour) and the affordability of their homes have made this one of the most sought after residential nodes in the Cape Peninsula, according to Lorenzo Jardine, who runs the Rawson Property Group Grassy Park/ Retreat franchise.
The big demand right now, he said, was for homes in the R600 000 to R900 000 bracket, preferably in Retreat or Grassy Park. However, his area of operation covers Lotus River, Ottery, Steenberg, Lakeview, S e aw i n d s ( a d i v i s i o n o f Retreat), Wetton and Zeekoevlei, and his and other local franchises can offer sectional title homes priced from R200 000 to R500 000 and freehold units from around R200 000 to R3 million.
“We recently sold a five-bedroomed double-storey home on the water at Zeekoevlei for R2m. We have other homes in Grassy Park priced from R1.2m to R1.65m, which should prove to be excellent buys because already price escalations are just as evident in the higherbracket homes as in the more affordable ones.
“Throughout our area, but particularly in Retreat and Grassy Park, stock shortages are now being experienced and we are having to advertise, distribute pamphlets and telecanvas to keep stock levels at around 20 – which is half of what they were at two years ago.”
Jardine said the banks were showing a friendlier attitude towards bond applicants, and only one in five from this area wa s n o w r e j e c t e d . T h i s included significant numbers who applied for 100 and 108 percent bonds, which include all transfer and registration costs.
On the rental front, said Jardine, demand was even stronger than in the sales market. His franchise managed 45 rental units and when new units came on the market, they were usually signed for within a week. Rents ranged from R2 200 to R5 500 a month, with the big demand being around R3 500.
Call Jardine on 082 734 7760 or e-mail grassypark@rawson properties.com.