select
|

Home prices hit new highs in Bergvliet

Rising demand for homes in the southern Cape Town suburb of Bergvliet and a simultaneous decline in the number of homes for sale have put significant upward pressure on prices this year – and led to the recent sale of a home in the area for the record price of R4,63m.
 

This gracious home in Bergvliet in Cape Town was recently sold by Cecily Madison and John Pistorius of Chas Everitt International for R4,63mill - which is a record price for the area.

The record sale was negotiated by Cecily Madison and John Pistorius of the Chas Everitt International Constantiaberg office, who say there were two other offers competing for the Starke Road property, which has excellent security and is situated close to the highly-rated Sweet Valley Primary School.
 
Multiple bids, they note, are not at all unusual now in Bergvliet or its neighbouring suburbs of Kreupelbosch and Meadowridge. “Demand here is very high, for a number of reasons, and there is increasing competition among buyers for the limited number of homes for sale.
 
“This has caused prices to rise by as much as 12% this year - which is about twice the national average rate of increase – and put the area very much on a par with Lower Constantia, with most homes priced at R2.5mill to R3mill, and an increasing number of sales in the R3m to R4m range.”
 
The major factors attracting buyers to the Bergvliet/ Kreupelbosch/ Meadowridge (BKM) area, the agents say, include its relaxed, family-friendly atmosphere, close to popular beaches and forests, combined with a great location within easy reach of the Cape Town CBD, and excellent local schools.
 
“We also have a local security service, BKM Watch, which is very well-resourced and managed; a strong community commitment; clean parks and other public spaces; and a good variety of upmarket sporting, shopping and entertainment facilities.”
 
Most homes in the area are large and set in spacious grounds along tree-lined streets, and most are good value for money, the agents say. The home they sold for R4,63mill, for example, has five bedrooms plus a study, 3,5 bathrooms, 3-4 large living rooms, a designer kitchen, a double garage and a pool and is in immaculate condition.
 
It also boasts a state-of-the-art security system and lovely views from more than 1200sqm of garden, and was ultimately bought by a Constantia buyer for just approximately 4.5% less than its asking price.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK