select
|

Record selling prices shift property values across the Cape Peninsula

With record selling prices being achieved in suburbs across the peninsula, the ceilings of property values are shifting, says Mike Greeff chief executive of Greeff Properties, an affiliate of Christie’s International Real Estate.



This five-bedroom Kalk Bay home was sold for a record R14 million including VAT. The previous record was R12m.

“Greeff Properties agents have achieved at least 10 record sales since January,” says Greeff.

Among the record sales are: A five-bedroom home in Annvon Mews, Diep River which was sold by Greeff agents Liz Robertson and Roz Van der Walt for R3.4 million, the second highest selling price in the area is R3.1m, achieved for a four-bedroom, home in Duminy Road.

Greeff agents also achieved a record selling price of R4.8m for a five-bedroom home in Clifford Crescent, Bergvliet, beating the previous record of R4.63m, achieved for a four-bedroom home in Starke Road, Bergvliet.

Agents Val Petzold and Mark Shagham sold a five-bedroom home in Milner Road Rondebosch for R7.9m – the previous record for this area of Rondebosch was R5.8m, paid for a four-bedroom home in Sandown Road.

In Fish Hoek Greeff agent Rob Mustart holds the record with a price of R10m paid for a four-bedroom home with two double garages in Simon’s Town Road. The sale included the household contents. The second highest selling price achieved since then is R5.8m for a four-bedroom Fish Hoek home.

In Noordhoek, Greeff agent Dale Gremels sold a four-bedroom home in Ratelklip Road, for R13.5m, achieving the highest selling price in the beach area Noordhoek for a home outside a security estate. The previous record selling price was R9m for a three-bedroom house in Protea Road, Noordhoek. This sale was also by Gremels.

In Kalk Bay a new record of R14m including VAT was set, for a five-bedroom home on Main Road, sold by Greeff agents Ashley Barnes and Heather Cape.

The previous sales record in Kalk Bay was R12m, achieved for a two-bedroom apartment with sea views.

Further along the False Bay coast line, in Simon’s Town, Greeff agent Bruce Durham sold a six-bedroom home with eight garages for the record price of R14.6m, beating the previous record sale by an estate agency of a five-bedroom home for R14m.

In Zwaanswyk, Greeff agent Mandy Kuhn sold a five-bedroom home in Almondbury Road for R21.85m. Previously, the top selling prices for comparable properties in the immediate area were R14. 173m for a home in Zwaanswyk Road, according to CMA, and Propstats records a sale in Zwaanswyk for R14 997 480,” says Greeff.

In Claremont, Greeff agent Debbie woods achieved the first and second highest selling prices, with the sale of a five-bedroom home in Monmouth Avenue, for R29.75m beating her previous selling price of R23m, for a comparable home in Adare Place.

In Bishopscourt, the second highest selling price of R42m was also achieved by Woods, for a six-bedroom home in Torquay Avenue.

“Strong demand and a shortage of stock has defined the property market and placed the advantage largely in the seller’s corner for most of the past 24 months,” says Greeff.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 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.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
        
    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