Ramaphosa win could boost luxury property, especially in Jozi
Cape Town – The election of Deputy President Cyril Ramaphosa as ANC president will likely have a positive impact on the confidence of South Africa’s luxury property buyers, according to Rory O’Hagan, CEO of the Luxury Portfolio division at Chas Everitt International.
In his view this would likely be the case especially in Johannesburg where the luxury property sector is dominated by SA and African buyers seeking primary residences or secondary homes that are used for business rather than holiday purposes.
“With [Johannesburg] being the financial capital of Africa, there is generally no real shortage of luxury buyers in Johannesburg, but they have been holding back over the past few months in the sense that they have been reluctant to spend more than about R10m to R15m, pending the outcome of the ANC conference,” he explained.
“However, the orderly nature of the conference and the election of Mr Ramaphosa as the new ANC president seem to have broken the log-jam, and we have already received a flood of enquiries just in the past few days for homes in the R20m to R30m range.”
The luxury market in Johannesburg’s top suburbs and estates close to Sandton currently offer business buyers and investors excellent value for money, according to O’Hagan. That is why he expects that high-end sales in these areas will pick up strongly over the coming months, and that prices will firm and then start to rise.
READ: Property sector pins hopes on Ramaphosa to boost weak market
“We also expect that the trickle of high net-worth buyers that we have seen moving back to Gauteng from Cape Town over the past year will turn into a steady stream as economic renewal continues and Johannesburg once again becomes a powerhouse of new opportunities,” he added.
Samuel Seeff, chair of the Seeff Property Group, also said the reported slowdown in semigration is also attributable to the slow rate of sales in other provinces combined with high prices in the Western Cape, which has now also put a damper on this market.
Semigration refers to the trend of people relocating, mainly from Gauteng to the Western Cape.
O’Hagan expects international holiday home buyers and investors to continue to favour Cape Town – although the city’s water problems and the stronger rand are likely to put a damper on prices there for the next few months, in his view.
Lew Geffen, chair of Lew Geffen Sotheby’s International Realty, expects the property market in 2018 to show swift and significant improvement on the back of Ramaphosa’s election.
For the source of this article please visit Fin24
SA’s 10 most exclusive residential estates revealed
Johannesburg – Exclusive Paarl estate Val De Vie was once again rated as South Africa’s top estate in a survey, which reveals where South Africa’s most exclusive residential estates are located.
The survey, by global bank AfrAsia Bank and research group New World Wealth, rated the luxury estates on criteria that included design and space, communal gardens and parks, maintenance, location, security, scenery, activities and facilities.
The survey noted that recent trends in estate living over the past year included a rise in demand for retirement estates especially. The popularity of wildlife estates is also increasing, while overall there is a move away from traditional golf estates.
It said many developers are now creating small neighbourhoods within the estates, opposed to the old model where houses were spaced evenly around the entire property.
This new model allows for more parkland and open spaces between the neighbourhoods, the authors stated.
But staking a claim in these luxury estates remained an expensive endeavour, with some homes in the estate costing up to R70m.
The top ten are:
Val de Vie – Paarl
Steyn City – Johannesburg
Zimbali – Durban Area
Fancourt – Garden Route
Waterfall Equestrian Estate – Midrand
Steenberg – Cape Town
Mjejane Mjejane Lifestyle Estate – Bordering Kruger Park
Whalerock Ridge – Plettenberg Bay
Waterfall Hills – Johannesburg
Fransche Hoek Agricultural Estate – Western Cape
For more information visit Fin24
SA sees growth in gated community living
04 December 2017 – 10:45
BY SUTHENTIRA GOVENDER – Times Live
Around one in 10 South Africans choose luxury gated communities when making residential property purchases‚ according to data gathered by Lightstone Property.
South Africa has 8‚042 estates‚ with 429‚660 properties contained in them.
Gauteng tops the list when it comes to luxury estate living‚ with more than 4‚000 estates and 217‚431 properties.
The Western Cape is next on the list‚ with 1‚866 estates‚ followed by 447 in the Eastern Cape.
KwaZulu-Natal is catching up‚ according to Lightstone data‚ with 341 estates.
Dr Andrew Golding‚ head of Pam Golding Properties‚ said that estate properties are more valuable that non-estate properties.
“While Lightstone tends to track the performance of the luxury market‚ the prices of homes on estates tend to be less volatile and hence a better investment option during challenging times.”
Golding said while secure estates with golf courses remained popular‚ there was a shift towards those offering amenities like cycling and jogging tracks‚ play areas‚ equestrian facilities‚ outdoor gyms‚ crèches and schools.
Andrew Amoils‚ head researcher at New World Wealth‚ a Sandton-based market research company‚ said South Africa was a global pioneer in residential estate living.
“In fact‚ the only country with more residential estates than South Africa is USA. Interestingly‚ residential estates are now becoming increasingly popular across the globe‚ especially in the likes of the UAE‚ Portugal‚ Spain‚ Mexico‚ New Zealand‚ Mauritius and the UK‚” he said.
“Safety on these estates is a major driver of the growth. Also scenery‚ parklands and lifestyle on estates are very appealing‚ especially to people with young children.”
According to a recent review of South Africa’s top 10 residential estates by AfrAsia Bank and New World Wealth‚ “many developers are now creating small neighbourhoods within the estates‚ as opposed to the old model where houses were spaced evenly around the entire property.”
The new model allows for more parkland and open spaces between the neighbourhoods.
There has also been a rise in demand for retirement and wildlife estates and a shift away from traditional golf estates.