Sound investment value

So says Pam Golding Properties, which points to the appreciation in value of apartments in one iconic building as a prime example.  The President occupies a front row position in Bantry Bay, with spectacular ocean views from every unit.  PGP is currently marketing a rare penthouse apartment at R28 million – and the company says it’s worth every penny, not only for acquiring one of the best addresses in Cape Town, but also for its long term growth potential.

“The President was built in the early 1990’s by Sanlam,” says PGP’s area manager for the Atlantic Seaboard and City Bowl, Basil Moraitis, “and at the time, its 58 apartments commanded prices in the range of R5000 to R10 000 per sqm.  That pricing held steady for about five years, then increased to around R12 000 to R15 000 per sqm in 1998.  Prices again held steady for five years before going up to around R20 000 per sqm in 2003.  By 2006, the cost had leaped to some R40 000 per sqm, and it continued escalating to over R55 000 per sqm by 2008 and R60 000 per sqm by 2010.  Despite prevailing market conditions, this top-end pricing has held steady, and last year, new sales in the building were concluded in the R50 000 to R60 000 per sqm price range.”

Steadily increasing value is not the only good reason to buy at The President – Moraitis says it is one of the best-maintained buildings on the Atlantic Seaboard, with lavish manicured gardens including a rose garden and magnificent cluster of swimming pools, as well as ample visitor parking.  With 24 hour manned security, the building is the ideal home for those seeking a secure and convenient lock-up apartment, either for holiday or permanent use.

The top-floor penthouse currently for sale is one of just three in the building, and one of only two to enjoy a north-facing aspect, looking directly over the ocean as well as back towards the mountains.  Occupying a spacious 518sqm, it includes lavish living and entertainment areas, suitable for both indoor and outdoor enjoyment.  

The three bedroom suites all lead out onto terraces to ensure maximum enjoyment of the panoramic views.  Other features include a private swimming pool, direct lift access, domestic quarters and two private parking bays.

“This landmark building is one of the most exclusive and prestigious on the whole of the Atlantic Seaboard,” says Moraitis, “offering a life of relaxed luxury, surrounded by spectacular scenery.  Units are not often available for purchase, particularly these rare penthouses, and when they do come onto the market, they typically sell very quickly.  For those seeking the ultimate beachfront lifestyle in an elegant and secure setting, it is a must-see.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Jun 2018
      The rental market in many Johannesburg suburbs has shown encouraging signs of revival this year but it remains a competitive market and landlords who best cater to their market’s needs will reap the healthiest returns.
    • 22 Jun 2018
      Home design is constantly evolving to reflect the changing needs of society. We look at some of the ways in which our use of space is changing.
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 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.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us