select
|

Simbithi sees many sales and splendid living

Wassenaar analysed 206 registered transfers in the Estate in 2011, representing R345.9m in property transactions, in order to fully understand what is happening in the Simbithi property market.

Of the 206 transfers, 54 (26.2%) were sales in sectional title schemes, to the value of R130.1m, and 152 (73.8%) were freehold properties. Says Wassenaar: "The freehold sales were still dominated by vacant land sales, priced largely between R510,000 and R1.4m. This run in vacant land transactions can be expected to slow down this year, since the bulk of the land from the master developer is sold and many vacant land property owners will be commencing construction on their sites.

"More activity can be expected at the higher end as sales of newly built homes are concluded, which will raise the average pricing achieved on the estate. Our detailed estate report indicates that the mean value of Simbithi transactions over the past 12 months was R2,997,903. The R8m threshold is being breached by recent home sales, and 2012 will no doubt raise this level."
Seeff Dolphin Coast currently have on their books what Wassenaar refers to as "one of Simbithi's finest properties", priced at R14.75m.

"This represents the highest level of residential home available within Simbithi. Imagine if you had first choice of any site in Simbithi prior to the original land sales commencing. Which site would you select? This is exactly what happened in the case of this home currently for sale, which can arguably be labelled as one of the finest settings on the estate, with secluded forest views and golf course/dam outlook. Owned by one of the daughters of the original Beverly Sugar Estate family from whom Simbithi was purchased and developed, as well as by Simbithi's acclaimed golf course designer, this site is truly one of a kind."

This spacious dream home of 800 m2 is set on 1953 m2 and offers four bedrooms and four bathrooms, plus a large dorm bedroom (ideal for children). There is a separate bar, swimming pool, putting green, two studies, open-plan dining room/kitchen, wrap-around veranda, staff accommodation, scullery, double garage, golf cart garage and two guest toilets. It also features Mozambique kiaat floors and balau decking.

Adds Wassenaar: "This offers something for the whole family - and a great investment for the discerning investor. Simbithi's popularity has skyrocketed over the past three years and has become the first-choice estate for young families as the children's facilities and sporting amenities provided within the estate are unmatched along the Dolphin Coast. This demand has ensured that pricing for vacant land has remained firm. With every month seeing the completion of new and more elaborate homes on the estate, the average value of completed properties in Simbithi can be expected to increase substantially over the next 12 months. Simbithi represents one of South Africa's hotspots in terms of new developments and building activity."


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK