High demand and stock shortages in prime Somerset West suburb

The tranquil, leafy suburb of Worlds View is one of the most sought-after in Somerset West, occupying an elevated location adjacent to the Helderberg Nature Reserve and the elite suburbs of Golden Hill and Spanish Farm. 

This luxurious home is located on an elevated erf of 2340sqm in a quiet cul de sac in Worlds View. The home has four spacious bedrooms, three reception area and garaging for six vehicles, as well as staff accommodation, a separate two-bedroomed guest cottage and an indoor braai area overlooking the pool. The home is on the market exclusively through Pam Golding Properties, priced at R8.53 million.

Worlds View is aptly named, with many homes enjoying sweeping panoramas across False Bay, the Hottentots Holland mountains, the Helderberg itself and several acclaimed wine farms. Pam Golding Properties (PGP) reports that it is a prime investment area, with excellent re-sale value being achieved, even on older homes in need of some renovation.

PGP agent Edelweiss Hankey says there is sustained demand for the suburb’s large family homes on spacious plots, as well as for its secure sectional title complexes. “Currently there is a shortage of stock which is boosting prices and contributing to a quicker market recovery in this area than in many other suburbs,” she says. “Just five properties in total changed hands in the area in the 12 month period ending October 2013. Many families put down long-term roots in this area and stay here for 30 years or more, which also contributes to the low availability of property at any given time.” (statistics – Lightstone)

The view from an erf of 3150sqm, which represents one of the few remaining opportunities to purchase vacant land in the sought-after suburb of Worlds View. The plot is on the market exclusively through Pam Golding Properties, priced at R3.495 million.

There is very little vacant land left in Worlds View, although PGP is currently marketing an open plot of 3200sqm at R3.495 million. Entry-level homes in the sectional title complexes start from an affordable R740 000, with some small lock-up-and-go cottages available in the R2 million to R3 million range. Larger family homes are priced from R3 million upwards, with super-luxury properties available for up to R9 million and occasionally even substantially more. Hankey says she expects prices to climb into the new year (2014), due to the high demand/low supply environment.

The area’s enduring appeal is borne out by several examples of excellent return on investment achieved in the past 10 years – particularly for those prepared to spend time and money improving older homes. A property in Kloof Street which was bought in 2004 for R2.6 million was renovated and sold in 2007 for R9.5 million.  Another home in Bird Street was purchased in 2003 for R2.5 million, renovated and sold in 2008 for R15 million. Meanwhile an erf purchased in 1999 for R3.8 million was sold in 2011 for R9 million, and another bought in 2001 for R2.8 million was sold 10 years later for R12.5 million.  (sales concluded by a variety of agencies)

Worlds View is aptly named, with many homes enjoying sweeping panoramas across False Bay, the Hottentots Holland mountains, the Helderberg itself and several acclaimed wine farms.

Besides the scenic location and high investment value, convenient proximity to amenities is another major draw-card for the area. Residents have easy access to the Vergelegen Medi-Clinic (already under repair following the recent floods) as well as to top schools such as Parel Vallei High, Beaumont Primary, Somerset College and Somerset House. Near neighbours include leading wine farms such as Vergelegen and Lourensford, while the adjacent nature reserve offers hikes, outdoor concerts and a popular tea garden, and is a haven for nature-lovers. It is only 6km to the Strand beachfront, and an easy commute to both Cape Town International Airport and Stellenbosch. The suburb is particularly popular with runners and cyclists, for whom Hillcrest Road is one of the favoured routes in Somerset West, as well as with golfers, who enjoy the proximity to acclaimed Erinvale Golf Course. Shopping facilities are available at Somerset Mall, just a few kilometres away, as well as several local convenience centres.

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