select
|

Gauteng buyers flock to Somerset West

There has been a noticeable influx of Gauteng buyers moving their families to the Western Cape, and particularly to the Somerset West area. 


This home in Schonenberg Estate was recently sold by Pam Golding Properties for R2.35 million.

That’s according to Pam Golding Properties’ (PGP’s) area manager for the Helderberg Basin, Louise Varga, who says the group has noted a rise in Gauteng-based buyers during the first months of 2014, as well as increased demand from other up-country provinces. Of PGP’s last 90 sales in the area, 15 were to up-country buyers (12 of them from Gauteng) and another nine to international buyers, mostly from Germany, the UK and USA.
 
Security and a wholesome family lifestyle appear to be the main factors driving these relocations. Some are moving their entire families to resettle in the Cape on a permanent basis, while other buyers are businesspeople setting up their family homes in a secure environment in the Cape, while still commuting back to Gauteng for work on a weekly basis. As a result, the demand for secure lifestyle complexes is particularly high – and none perhaps more so than for Schonenberg Estate, located diagonally opposite the renowned Lord Charles Hotel.


Children can play in safety in the ample green lungs and park areas.
 
Schonenberg Estate occupies a substantial area of 65ha, and has close to 530 residential erven, ranging from neat lock-up-and go homes to larger family dwellings. The result is that the estate has a homogenous blend of residents, ranging from young professionals and first-time buyers to families with children and older buyers downscaling for their early retirement years. The excellent security, including controlled access and 24 hour guard patrols, ensures that children can play in safety in the ample green lungs and park areas, while all residents can enjoy the 4km walking trails within the estate, which are well lit at night. A portion of the estate is committed to wetland conservation, and contains protected fynbos as well as several endangered fauna.
 
The development is approaching maturity, with 439 homes completed and a further 30 currently under construction. Prices range from around R2 million for a compact lock-up-and-go home with two bedrooms, to around R4.5 million to R6 million for larger and more luxurious family homes with swimming pools, double garages and luxury finishes.


Schonenberg Estate occupies a substantial area of 65ha, and has close to 530 residential erven, ranging from neat lock-up-and go homes to larger family dwellings.
 
Early investors have made a healthy profit, with homes purchased for R1.4 million in 2008 now selling for just over the R2 million mark. PGP’s most recent sales have included a brand new lock up and go home sold for R1.8 million, and a larger three-bedroomed family residence which sold for R2.35 million.
 
There is also appeal for investor buyers based on the strong demand for rental homes at Schonenberg. PGP agent Mabel Botha says homes currently under tenant in the estate are fetching between R12 000 and R40 000 per month in rentals, with demand consistently outweighing the available supply of rental homes.
 
Another key appealing factor for buyers is the central location, close to the N2 highway for easy access to Cape Town and its international airport, and well situated for access to the Winelands, top schools and medical care. The estate lies alongside the boutique Waterstone Village Shopping Centre with its Virgin Active gym, Pick n Pay, restaurants, pharmacies and other amenities. The cherry on top is the centre’s Woolworths store, at 2500sqm the largest Woolworths food market in the country, and recent winner of the international Association for Retail Environments’ Design Award for the best Supermarket/Grocery Store of 2014.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Nov 2017
      As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit.
    • 23 Nov 2017
      The Adelphi Centre (now entitled “ARTEM") in Sea Point, Cape Town, is being extensively renovated, and once complete will offer an ultra-luxurious galleria style shopping centre unlike any other seen on the Atlantic Seaboard or in Cape Town.
    • 23 Nov 2017
      If you are looking to sell your home in today’s real estate market, there are certain things that you need to include both inside and outside your house. Today’s generation of home buyers is looking toward a more eco-friendly, energy and water conscious home, and if your house stands out then you are more likely to be able to sell it.
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
        
    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