Steenberg’s estate property now among the most sought-after and valuable

Completed homes at Nieuwe Steenberg, where only two homes are available for sale at present.

The two Steenberg residential estates, on the original site of the Steenberg wine farm, the oldest of the Constantia Valley that still boasts vineyards and a winery, now rank among the most sought-after and valuable real estate in the country, according to Faith Knight and Nikki Edenborough, Seeff agents for the Constantia area.

“Although there is the odd exception, the entry level price for the estate is now around R11 million. The average municipal value is just over R12.7m, putting the Steenberg Golf Estate top among 5 868 estates countrywide listed by Lightstone.

Homes were selling for around R9.4m on average five years ago, whereas the average now is just over R11.9m. This is also 20 percent higher than the R9.8m average price for Constantia,” say the agents.

“Recently, homes sold have been priced from about R11m to R22.5m and R24.5m, and top prices now range to about R30m.”

The 96ha golf estate is set against the back slopes of Table Mountain, with views over the Constantia Valley, its vineyards and the surrounding mountains.

Aside from an 18-hole golf course, a winery and vineyards, amenities include a clubhouse, a hotel and restaurants. Luxury homes are also sold with two golf memberships and often with golf carts.

“About half of all homes in the estate have been in the same hands for 10 years or more. This means that although there are just over 200 residential properties in the estate, only about 10 homes are sold here each year as owners tend to hold onto these homes.

“About 90 percent of the homes in the estate are owned by locals and about 10 percent by European ‘swallows’. Although many residents have a keen interest in golf, most buy here for the superb lifestyle on offer,” say Knight and Edenborough.

James Lewis, Seeff’s managing director for the southern suburbs, says that the site of the Steenberg developments comprise some of the most valuable real estate in the country and statistics show that values keep increasing each year.

“From a buy-to-let perspective for example, rentals for the golf estate homes now range from R60 000 to R75 000 a month,” says Lewis.

“For those who still want the lifestyle, but at a lower price, the new neighbouring Nieuwe Steenberg development has become one of the top developments in the city. Phase one is completely sold out and all but two units in phase two have also been sold.”

The village-like Nieuwe Steenberg has also been popular with younger buyers, say the agents. Almost two thirds are under 50 and almost half of that under 35.

The development will ultimately be home to 30 architect-designed homes in a Cape vernacular style with trendy interiors. Finishes include under-floor heating and energy saving features.

“Nieuwe Steenberg has added a modern and secure lock-up-and-go option to the Steenberg mix. Prices start at around R3.4m and range to R9m for the last two available units,” say Knight and Edenborough.

The three-storey homes have a minimum floor space of 310m², and the smallest plot is 480m². All homes have three bedrooms with en suite bathrooms, open plan living areas with stacking doors that open onto terraces, and kitchens with engineered stone counter tops and separate sculleries. On the lower basement levels are TV lounges with cloakrooms as well as storerooms and large double or triple garages.

“The average selling price for Nieuwe Steenberg was around R3.8m last year, and is now around R6m. Given that there are now only two homes available at present, we expect significant interest,” say the agents.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us