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SIGNS OF RENEWED ACTIVITY IN CONSTANTIA

The leafy Cape Town suburb of Constantia is showing signs of renewed activity at the top end of the property market.  The Constantia Valley has long been regarded as a prime pocket of the city’s Southern Suburbs – and while it enjoys perennial demand for family homes in the mid-price range from R4 million to R8 million, Pam Golding Properties reports that demand for top-end homes in the “trophy” category has been somewhat muted during the global recession.  That is slowly starting to change as South Africa emerges from the economic downturn, says PGP’s area manager for the Southern Suburbs, Howard Markham.

“Whilst it is still too early to talk about a full market recovery,” says Markham, “we are definitely seeing signs of renewed interest in the top-end homes, including improved attendance at show-houses, and an increase in enquiries via our website.  This high-end sector of the market does tend to buck prevailing trends, as it is not so heavily influenced by the overriding economic climate – sellers, for example, can often afford to sit out a recession until recovery is in sight, so that they can achieve a selling price which reflects an accurate value of their trophy properties.  So the fact that activity levels are picking up again in this segment gives us reason to be cautiously optimistic.  It may well herald an upturn in sales in this price bracket – and indeed, our own sales figures for the year to date (2011) seem to bear this out.  Since the start of 2011, PGP agents have concluded 11 sales in the suburb – and the pace is picking up, as four of those deals were concluded in the month of April alone.”

Among the notable recent sales concluded by PGP agents in Constantia was a home in the award-winning secure eco-estate, High Constantia, sold for R16.5 million, and a property in Nova Constantia Road, sold for R6.2 million.  The latter is a one-acre property offering ample accommodation for family and friends, as well as a convenient central location in the heart of the vineyard area.  Also sold by PGP was a property in the sought-after “Avenues” of Constantia, sold for R14.7 million.  This home was designed by eminent architect Michael Dall, and offers around 1000sqm of living space, as well as spectacular mountain views.  It was sold to a Gauteng family which has relocated to the Cape.

PGP’s MD for the Western Cape metro region, Laurie Wener, has similar confidence in the resurgence of the Constantia market.  “Property in Constantia is a blue chip investment,” she says, “and will continue to be so going forward.  This is a prime area with a proud history, boasting some of the oldest residential properties in Cape Town, and some truly magnificent stately homes as well as modern mansions offering every possible convenience and hi-tech finish.  The beautiful vineyard setting with magnificent surrounding mountains, together with the convenient central location, ensure that Constantia will remain one of the city’s most sought-after addresses.  The varied lifestyle embraces a mix of both urban sophistication and rural tranquillity – one can go from having coffee in a chic cafe and shopping in designer boutiques, to enjoying a horse-back ride through the substantial greenbelt or tasting wine at a magnificent vineyard, all in the space of a single morning.  The comprehensive shopping facilities and easy access to top schools and medical facilities, as well as the selection of some of the city’s best secure estates, such as Silverhurst and High Constantia, are the cherry on top of a superb environment for families, captains of industry and even celebrities seeking privacy and space.”

Among the properties currently for sale in Constantia exclusively through PGP is a modern, recently refurbished home located in a quiet cul de sac off Brommersvlei Road, not far from the Constantia Village Shopping Centre.  The double-storey home is an ideal family residence, offering ample, versatile accommodation and generous reception areas.  There are five bedrooms and four bathrooms, plus four reception rooms, allowing for separate spaces for adults and children or teens to relax.  These entertainment rooms flow out onto a variety of patios and verandas, which in turn give way to a tranquil garden with a swimming pool and attractive water feature.  The garden has its own borehole, and is watered by a computerised irrigation system.  The home offers state-of-the-art technology including a dedicated home theatre room, under-floor heating and air-conditioning, plus a hi-tech security system with alarm, electric perimeter fence and electronic beams.  The private, secluded location offers lovely mountain views.  The 1321sqm property is on the market at R10.995 million.

Released on behalf of Pam Golding Properties by Philippa Hudson


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