V&A Waterfront still SA’s biggest property success story

"At between 5 and 40 percent, the V&A Waterfront has delivered some significant capital appreciations this year, especially in the re-sale of properties bought off-plan," comment Seeff V&A Waterfront agents, Adrian Mauerberger and Emelia van der Linde.

"Despite slower trade in other top areas, seven out of eight Waterfront units that sold to private buyers this year made profits, depending on when they were bought," comment Mauerberger and van der Linde. "A unit in Ellesmere, overlooking the Canal, which was bought in 2003, sold in February this year, affording the Seller an unprecedented 307% capital appreciation."

Playground of the rich and famous, Waterfront developments are characterised by exclusive and expensive real estate. V&A facilities include swimming pools, a fitness centre, 200 yacht moorings and direct access to shops, restaurants and entertainment. Luxury design, stunning views and high-tech security add to its appeal to celebrities, politicians, captains of industry and more recently, according to Mauerberger and van der Linde, Black Diamonds.

"The most expensive units are situated on the Front Yacht Basin where buyers can expect to pay up to 60 percent more, i.e. up to R70,000 per square metre for a 2 bedroom unit located on the Yacht Basin due to its outlook and views."

Selling at up to 25 percent lower right now, buyers and investors can get their hands on some outstanding value according to Mauerberger and van der Linde. "For example, at Helenslee, we have a spacious corner unit with a wrap-around terrace and views of the canal and yacht basin, priced at R8,5 million (R32,000 per square metre). At 260 square meters, the unit offers 2 spacious bedrooms with en-suite bathrooms, a garden, 2 basement parking spaces and a storeroom for a luxurious lock-up-and-go lifestyle."

"At Altmore, a 66 square meter one bedroomed unit ranges from R3,3 million (ex VAT) and at Bannockburn, a 106 square meters, a two bedroom unit will set you back R4,7 million (ex VAT)," they add.

"Properties on the Canal are popular for short term rentals and thus popular with investors. The Front Yacht Basin is more expensive and with more of an end-user ownership."

As the most visited destination on the continent, the V&A Waterfront is a success story in the integration of retail, residential, hotel, office and recreation with a historical working harbour. "With international luxury brands such Louis Vuitton,Gucci, Jimmy Choo and the One and Only hotel, it is easy to see why properties here are sought after and valuable," conclude Mauerberger and van der Linde adding that the new ownership and commitment by the new owners is further good news for property owners and investors.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us