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
    • 25 Apr 2018
      Whether you are a seasoned seller or new to the game, putting your home on the market is an exciting moment. To ensure you get the best possible outcome these 8 value adding additions to your home is worth the effort.
    • 25 Apr 2018
      After four years of unprecedented growth fuelled by semigration, the Southern suburbs market faced a number of challenges in 2017, including dwindling affordability and a marked slowing in house price growth with many sellers forced to lower their prices in order to secure a sale.
    • 25 Apr 2018
      Mall of Africa, is celebrating its second year of sensational success. This splendid super-regional shopping centre first opened on 28 April 2016, and has grown in popularity, performance and profile since then.
    • 25 Apr 2018
      While the role of trustee in a sectional title scheme is a voluntary and unpaid position, it is one that comes with huge responsibility. Trustees have a fiduciary duty towards their scheme, says Chinelle Hewit, Operations Manager at sectional title finance company Propell.
    • 24 Apr 2018
      The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
        
    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