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
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
    • 19 Jun 2018
      Douw Steyn, one of the richest men in the country, recently allowed a rare glimpse into his Fourways Palazzo when it was featured on the SABC lifestyle programme Top Billing - and it is beyond your wildest dreams!
    • 18 Jun 2018
      Many home sellers are motivated to appoint estate agents because they know that the agency will carry the costs of advertising and marketing their property.
    • 18 Jun 2018
      When a property is sold when it has a tenant in occupation, the questions often raised are: “What happens to the tenant if the landlord sells the property?”, and what rights the tenant will have with regards to cancelling the lease or enforcing it, says Sunell Afrika, rentals manager for
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us