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 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
    • 21 Feb 2018
      These days most buyers are using online property portals like Private Property when house hunting due to the convenience, up to date information and variety on offer. “The property portals have revolutionised the way buyers shop, but they do need to be cautious – viewing photos online is no replacement for viewing the property in person,” says Bruce Swain, CEO of Leapfrog Property Group.
    • 20 Feb 2018
      Owning a home is a milestone that most South Africans aspire to. Becoming a homeowner is a step towards growing personal wealth and owning an asset that appreciates in value over time, provided of course that the correct principles are applied during the buying stage of the process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Feb 2018
      The suburb of Greenstone in Johannesburg east came to be over the last two decades. “In the beginning, it was literally just a hill with not so much as a shopping centre,” says Michael Levy, Property Consultant at Jawitz Properties Bedfordview. Today it has plenty shopping facilities and is fully built, boasting high-density, upmarket housing and residential estates, though still has a few pockets poised for commercial development.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us