Steyn City shines in depressed property market

While South Africa’s property market shows a downturn in the wake of political instability and dwindling consumer confidence, interest in Steyn City Lifestyle Resort remains undented, with sales showing a year-on-year increase of 20% during the first seven months of 2017.

This isn’t entirely surprising, given the trend towards investment in lifestyle estates that prevails at present. Giuseppe Plumari, CEO of Steyn City Properties explains that is because estate living offers a safe environment – a prime consideration for property purchasers – while presenting enormous value.

This is particularly true of Steyn City, where potential investors are unfailingly impressed by the number and quality of the facilities on offer. This is due to the significant investment made in development upfront. Steyn City Properties has invested R6.5 billion into the lifestyle resort, ensuring that all amenities – from the Jack Nicklaus-designed golf course, to the award-winning clubhouse, Saxon-managed restaurant and superb equestrian estate – may be viewed and experienced upfront. As Plumari points out, this makes a tremendous difference to home buyers, who don’t have to wait until planned projects come to fruition to see if they live up to what has been promised.

This may be why property sales at Steyn City show no signs of slowing, despite the general lag in property sales countrywide. “Sales for the 2017 year to date exceed net sales during the same period of 2016 by 20%. This is particularly noteworthy, given the current conditions in the property market.” says Plumari.

Plumari is confident that this upward trajectory will continue, as a number of exciting developments are coming online at the lifestyle resort. Chief among these is construction on Steyn City Schools, which opens its doors for its first intake of students in January 2018. Headed by Brian Mitchell, one of the most highly respected educators in the South African schooling industry, the independent school will offer education and facilities on par to those at any leading private school. With construction on the sporting pavilion (boasting changing facilities for visiting and home teams) well underway, the school will also offer an indoor aquatic centre (complete with learn-to-swim pool), spacious classrooms incorporating several learning zones, a canteen offering nutritious hot meals, media centre and science laboratories.

The developers are working on city centre with the launch of Phase I that will house 739 luxury apartments on track for off-plan sales launch in the next couple of years, and plans are afoot to start on the commercial centre. Plumari observes that this will be a welcome addition to the lifestyle resort, as prime office space in the ‘new north’ is in high demand, particularly as improvements to the surrounding road network increase accessibility to the region. “This completes our unique work/play/live offering,” he notes.

At the same time, Phase II service infrastructure development is well underway, with the introduction of bulk services having taken place. This follows on the success of Phase I, where each of the 100 stands in the Views have been sold and stands in the other villages which have been bought are seeing homeowners break ground. With all houses to be built within the next two years, construction has commenced on 89 homes.

The residents who move into these homes can look forward to a consummate lifestyle, with a variety of facilities accommodating a number of hobbies and interests - without leaving the lifestyle resort. They’ll also enjoy a magnificent backdrop for their homes. At present, the developers are busy with extensive contouring, building new dams and planting hundreds of thousands of new trees in the second phase. A continuation of the boulevard will be created, allowing residents to walk through a treed landscape between the two phases for many more kilometres.

These additions will augment the amenities already on offer, including the tennis courts, beautifully landscaped gardens, resort pool and deli, children’s playnodes, skate park, outdoor workout nodes and gym and magnificent land art wherein our new children’s dinosaur-dig wonderland will soon become the next reality.

The variety of property product ensures that the lifestyle resort holds appeal for residents at all stages of life, from first-time property purchasers to child-free couples desiring a lock-up-and-go lifestyle, young families and empty nesters.

“We are extremely proud of the lifestyle resort’s performance to date, and are confident that the trend will continue,” Plumari concludes.

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