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
Characters remaining

    Latest Property News
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us