Weekend Argus (Saturday Edition)
Home buyers agree – Tokai’s a keeper
The ‘ life in the country’ laid-back feel of the neighbourhood is attractive to young and old alike
WITH just more than half the local residents remaining in the area for 11 years or more – according to Lightstone statistics – Tokai in Cape Town’s southern suburbs is consistently one of the most popular residential destinations in the region for home buyers.
There is increasing demand from younger buyers, with 25 percent of sales from August 2014 to July 2015 in the 18-to-35 age group and 44 percent aged 36 to 49, according to Lightstone.
As a result, there is seldom much housing stock available, says Pam Golding Properties agent Colleen Curtis.
“With its parks and lots of green, open spaces, people fall in love with Tokai and simply don’t want to leave. Most of our buyers are young couples. There are also many elderly residents who are either waiting for a spot in a retirement village or plan to remain here indefinitely.
“Tokai still has a country feel to it, yet has easy access to the M3 and Cape Town, is close to all amenities and Tokai Forest, with beaches a short drive away. The upper area is most in demand, with three- and fourbedroom family homes being the most popular, and with a c ur r e nt ave r a g e p r i c e o f R3.8 million. Dennendal is the most sought after pocket and considered a prime address where you can expect to pay, on average, well over R5m.”
Well- priced properties in high- demand locations can receive more than one offer. Houses take on average 27 days to sell at present, but a wellpriced, perfect property can sell in a few days.
All the apartments in the Tokai area are close to Blue Route mall. The most popular complex is Tokai Villas, which consists of three well-maintained residential complexes – Brittany, Burgundy and Bordeaux, with units pri c e d between R850 000 and R1.5m.
Situated in the upper area of Tokai opposite Steenberg Golf Estate is the large gated complex Forest Glade, which consists of 103 freestanding houses priced – when they become available – from R2.5m to about R3.4m and with an average selling price of R2.9m.
In nearby Lakeside, Kirstenhof, Sandvlei and Klein Wassenaar, all located above the M3, good value for money means smaller homes with low municipal rates, ideal for start-up couples, and houses with two or three bedrooms often sell within days, with two or three offers on the same property, according to PGP agent LeeAnn Davis.
“These areas enjoy scenic mountain views and proximity to water, which is appealing to home buyers. A standard small home with three bedrooms and one bathroom can be acquired for R1.8m, ranging up to R3m for properties higher up the slopes. The shortage of stock is definitely pushing up prices in these areas.”
With a rural feel and mostly 4 000m erven – attracting the equestrian set and nature lovers – is the appealing area of Zwaanswyk, which of f ers breathtaking views from the upper slopes. More and more houses here are being renovated into palatial homes with values from R10m upwards. There is still some vacant land available, selling from R4m to R6.5m, and plots with views will sell for more.
Tokai is also home to a number of well-established residential estates, all of which are increasingly in demand. Steenberg Golf Estate has 225 luxury homes and only a few available for sale at any one time.
Says Curtis: “Few owners ever want to leave given the lifestyle and consistent capital growth. The result is that many of the homes are now being completely revamped with the latest modern finishes and fittings.”
At Steenberg the entry-level listing price is R8.5m, with average prices around R10m to R14m, and a t op- end home reaching R29m. With a highly rated world-class golf course, a hotel and spa, top restaurants, vineyards and immaculately manicured gardens, most of the homes on Steenberg enjoy views across the open spaces of the golf course.
Well positioned on the Silvermine mountain slopes adjacent to Ou Kaapse Weg, Stonehurst Mountain Estate – with panoramic views across the Constantia valley and to False Bay – is rapidly reaching completion with 80 percent of erven developed with family size homes of 300m to 500m costing on average between R7.5m and R15m and a top price of R25m.
There are also two townhouse developments, Stone Vill age and Stonehurst Close, where prices start at R3.2m for a 168m duplex with three compact bedrooms and two or three bathrooms, a modern open plan entertainment area and a small outdoor braai with a garden, and ranging to R4.5m and R5m for the prime three-storey townhouses.
There are 270 completed houses on the estate, just eight vacant plots and 14 plots in the construction phase. Feeding off Helderberg Road i n a new street called Magaliesberg Road will be a phase two development on the west side of the estate, where most of the plots have been sold, with the two remaining plots available priced at R2.65m and R2.75m.
Stonehurst attracts a good mix o f h o me b u ye r s a n d investors, with the townhouse complexes drawing first-time home owners as well as more mature buyers for whom scaling down is a priority. The larger homes are also popular as rental accommodation for international corporates and the American Embassy, which is in Tokai. Interspersed with lakes, streams and footpaths and home to the endangered western leopard toad, the estate includes a lifestyle centre with a lounge, a bar, a games room and a gym.
At the fully developed Silvertree Estate homes are selling from R5.2m to R8.9m for homes varying in size from 200 to 400m
“S e c u r i t y r e mai n s a n important factor driving sales in estates,” says Curtis. “The carefree, independent lifestyle that children can experience – visiting a friend on foot, or playing in the park – are priceless. Silvertree is popular for families with children attending Reddam, since children can walk to the gate next to the estate to enter the school.”