select
|

Val de Vie Wine & Polo Estate – 2012 property sales and predictions

Val de Vie Wine & Polo Estate (between Paarl and Franschoek) has during 2012 experience a 43 % increase in year-on-year sales transaction relative to 2011.  

A relative shortage of the well located and bigger sized erfs is experienced - pointing to an eminent price shift in the estate’s property market.

For the period 1 December 2011 to 30 November 2012, total property sales in Val de Vie consisted of 84 own title (74 erfs and 10 houses) and 11 sectional title (horse stables) transactions to the value of R92,904  million and R1,26 million respectively.  For the same periods during 2010 and 2011, respectively 61 and 65 sales transactions to the value of R62,769 and R72,865 million were concluded – up from 19 transactions in 2009 to the value of R22,99 million.

Average sales prices obtain have remained fairly stable since 2010 – increasing from R1,029 million to R1,106 million. This however not a true reflection of property prices on the estate – as Val de Vie “is only 5 years old” and by far the majority of property transactions during this period have been erfs.  According to Lightstone, the present average valuation for Val de Vie properties is R3,79 million – ranking it as the 373rd most expensive estate in South Africa which is “on par” pricewise with Oubaai Golf Estate (George) and Sandhurst Ext 4 (Johannesburg). The average value of Val de Vie property is however set to dramatically increase during the next few years – as more and more luxury homes are being developed on the vacant erfs.

The available erfs in the market has during the last few months dropped quite markedly – especially the bigger and better located erfs. Val de Vie consist of 567 erfs spread between the vineyard and open areas over an area of 1 771 384 sq. metres.

Maureen de Waal (resident agent affiliated to CCH) has during the last 4 months achieved sales which has already “corrected the historical price levels” on the estate – i.e. a house for R5,5 million (at more than R13 000 per square meter) and a house for R11,25 million (top sales price to be achieved up to now in the estate).


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Jan 2018
      Moving away from the city to a country or coastal town and a slower-paced life is a frequent new-year resolution for South Africans, but thorough research should be done before you break free from the hustle and bustle, because making the wrong move could turn out to be a very expensive mistake, and even more stressful for you and your family than staying in the “big smoke”.
    • 22 Jan 2018
      Cape Town is home to many breathtaking and historic homes, but House Invermark designed in 1969 by South African architect Gilbert Colyn, with inspiration from two modernist icons: the Glass House by Phillip Johnson and Farnsworth House by Ludwig Mies van der Rohe is in a class of its own.
    • 22 Jan 2018
      2017 was a challenging year for the South African property market in general, despite small pockets of thriving activity in areas like the Western Cape. As we head into 2018, Tony Clarke, Managing Director of the Rawson Property Group, casts his eye forward to property trends and market influences that could make their impact felt in the New Year.
    • 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.
        
    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