select
|

Cape Town’s Claremont residential market kicks off 2017 on a promising note with a brand new development

The Claremont residential market dipped slightly towards the end of 2016, but only a few weeks into the new year it’s already showing promise as a result of a far better selection of stock including a brand new development that has just been launched off-plan.


 
This is according to Elaine Dobson, Area Specialist for Lew Geffen Sotheby’s International Realty, who says: “Lightstone data reveals that only 26 (13%) of the 202 sales in Claremont last year were concluded between October and December and, although the prevailing economy was a contributing factor, it wasn’t solely responsible.
 
“Sales were also notably impacted by the dearth of available stock which progressively dwindled as the year progressed, especially in the lower to middle markets, as well as the emerging estate sector where the gap between demand and supply is rapidly growing.”
 
Dobson adds that with no more greenfield land available in Claremont, new developments can only be built when homes on large stands with the applicable zoning can be bought and demolished.
 
“These make way for increasingly sought-after compact developments of three to five homes that are usually snapped up when a new project is launched.
 
“They also seldom come onto the market for resale, as owners tend to hang on to their investments in anticipation of solid growth in tandem with the steadily increasing demand for secure, low maintenance homes.”
 
Comprising just three double-storey cluster homes in a prime location in the heart of Upper Claremont, the new development in Thelma Road called Thelma of Aview ticks all the key boxes for discerning buyers.
 
Gus van der Spek, Director of AVIEW Property Development, says: “Thelma of Aview was conceptualised with two core objectives in mind; to create beautiful homes where residents can enjoy a relaxed, exclusive lifestyle within a secure environment and to offer buyers a sound investment opportunity in a stable market.
 
“To achieve the first goal, it was essential that the architectural design allows residents to enjoy the best of both worlds; the relaxed suburban lifestyle of a spacious family home combined with the lock-up-and-go convenience of apartment living.
 
“Location impacts significantly on investment value as much as it does on lifestyle and to this end we were fortunate to secure an ideal corner site in one of the city’s most sought-after enclaves where consistent growth has continued to yield solid returns.”
 
Competitively priced at R8.995m in a market where houses priced between R10m and R20m are no longer a rarity, these upmarket homes offer excellent value and a promising return on investment.
 
Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty, says an analysis of Propstats data reveals how well the market has performed in Upper Claremont in recent years with the average price of houses seeing double digit growth each year since 2013 when the area’s market average was R5.1m, with only one home fetching more than R10m.
 
“A year later the average sale price had risen by some 25% to R6.3m and there were five sales in the R10m-plus band. By 2015 the average price had increased by just under12% to R7.1m with six sales breaching the R10m mark and, despite the tough economy, 2016 ended with another solid 12% increase in the average sale price (R7.98m) with nine homes selling for more than R10m.”
 
Dobson says: “All three homes planned for Thelma of Aview will have four generous en-suite bedrooms, expansive open plan reception areas that flow out to landscaped gardens, double garages and stunning mountain views.
 
“Top-quality standard features include designer kitchens with separate sculleries, SMEG appliances, Paradox alarm systems, air-conditioning and wood burning fires, and buyers have a selection of paint colours, bathroom fittings, flooring and kitchen styles from which to choose.
 
“There are also optional extras such as a swimming pool, underfloor heating, American shutters and solar PV installation available at an additional cost.”
 
Residents will have the luxury of being situated in tranquil tree-lined suburbia whilst also enjoying easy access to top class amenities and facilities, including Herschel Girls’ School and Western Province Prep just blocks away, world class shopping at Cavendish Square as well as an array of restaurants and cafes, wine farms and sports facilities.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 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.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    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