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Young buyers boost sales in Sonstraal Heights

The RealNet estate agency group has awarded the franchise rights for Sonstraal Heights and the surrounding areas near Durbanville in the Western Cape to seasoned local estate agent Willem Scholtz.


This lovely, low-maintenance townhouse in a secure complex is for sale through the new RealNet franchise in Sonstraal Heights for R950 000.
 
He says the franchise, which will shortly have premises in the popular Cobble Walk Mall, serves an up-and-coming market that attracts predominantly young buyers. "Demand is steady and prices are consequently on an upward trajectory. Easy access to Cape Town's CBD, nearby Durbanville and medical and shopping facilities and excellent schools in the area are major attractions."
 
Most buyers here are between the ages of 25 and 50 and first-time buyers typically target apartments to get a foothold in the market. Two-bedroom units in the Uitzicht area are available at prices of around R500 000 and are in strong demand, Scholtz says.
 
Newly-married couples and buyers with young families are active in the R1,2m to R2m price range, which incorporates comfortable townhouses with two or three bedrooms, a bathroom and one or two garages selling for up to R1,4m, and larger full-title units with bigger gardens selling for R1,4m to R1,9m.
 
Meanwhile professionals aged 30 to 50 and in established careers target luxury homes on the hill in Sonstraal Heights, where prices range up to R3,5m, he says. “Homes in this price range are large with three or four bedrooms, a study, two to three living areas, swimming pools, two garages and luxury finishes.”
 
The rental market is lively and offers investors a ready pool of keen tenants. Scholtz says young professionals just starting their careers are keen to live in areas such as Pinehurst, Uitzicht and Sonstraal Heights and that rentals range between R3800 and R6000 a month for units that sell for R680 000 to R850 000.
 
“Rentals thus cover a fair proportion of monthly bond repayments, but most investors are buying here because they are confident that the value of their portfolios will grow.”


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