Location, views and value for money draw younger families to Welgemoed

Younger family buyers are homing in on the exclusive suburb of Welgemoed, largely for the location, views and value for money on offer according to Etienne Vermaak, Seeff's agent for the area. 

As one of the mature neighbourhoods of Cape Town's northern suburbs with spacious homes, large plots and lovely gardens, it has long been a favourite with older upper income buyers. There is now though a notable shift with almost 40% of buyers in the last year falling into the under-35 age group, many of whom are renovating the older homes, he says.

4 Bedroom House for sale in Welgedacht, Belville

The attraction of this upmarket suburb is obvious, says the agent. Quiet and verdant, it is tops for location and convenient living. Nestled between the Bellville Golf Club and Tygerberg Nature Reserve, elevated amidst the Tygervalley Hills, many residences enjoy stunning views across the city and as far as the Stellenbosch mountains. The nearby N1 provides quick access into and out of city. Aside from the nature reserve and golf course, there are excellent schools and amenities along with home owners' associations and good security.

The migration of younger buyers into the suburb has been a boost for the market, says Vermaak. While it is a low-turnover suburb as owners tend to hold on, especially if they still have school-going children, the sales tempo is gathering momentum. In the last year for example, about 40 property transactions to the value of almost R105 million were recorded, about 25% up on the 2009-lows of 32 transactions. The investment value remains strong. In 2009, the average price for the suburb was around R2,28 million; today it is around R3 million, about 32% more.

Buying and renovating here makes perfect sense, says the agent. There are only a few vacant plots and these cost around of R2 million for 1,400-2,000sqm. With building costs at R10,000/sqm on average, a 600sqm home can set you back well over R8 million. In contrast, you could buy an existing home for upwards of R3 million to around R5,7 million for a 770sqm house on a plot of over 2,000sqm with an irrigated, landscaped garden. It includes two lounges (with fireplaces) and a dining room (all air-conditioned), three studies (one with cherry wood cabinetry and yellow-wood floors), a large Oak-wood kitchen, five bedrooms (including an au pair suite with a living area) and a one-bedroomed flat with a study, lounge, kitchen and garage along with an additional three-car garage.

Even at the top end, the value is excellent. A contemporary 600sqm double-storey architectural home that towers over landscaped gardens and an olive grove that leads into the nature reserve is for example on offer for R10,5 million. This is excellent value for luxury buyers looking for a stunning home on a large 2,500sqm-plus sized plot. It comes with expansive living rooms, five bedroom suites, stunning views and luxury finishes including fireplaces, under-floor heating, bespoke sanitary ware and bathroom fittings, Jarrah wood cupboards and marble and travertine floors. Outside are sheltered sandstone and balau terraces as well as a heated salt-water pool.

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