select
|

Surge of sales in Constantia

Upper Constantia in Cape Town is enjoying keen interest from buyers, particularly foreigners and those from Gauteng. 


7 Bedroom House for sale in Constantia, Cape Town

“We’ve seen 17.43% of sales in the area for the period beginning January to end July were for international buyers,” says Francois Venter, Director of Jawitz Properties. “This accounts for 19 of the 109 properties sold in this period. In July alone, 63% of sales concluded in the area were for foreigners, and 40% of these sales were concluded by Jawitz.”

“Meanwhile, Constantia Watch, the local crime unit in the area, reported a 60% decrease in crime in July this year compared to that of last year.”

A safer suburb is appealing to buyers, as are correctly priced properties.

“While the average price for Constantia is about R7 million, prices have a broad range in Upper Constantia and we find that those listed above R10 million tend to achieve prices around 20% less than asking price, if properties are not well maintained,” say Charne Shipper and Greg Kruyer of Jawitz Properties Constantia.

Where sellers are asking over R10 million, properties need to be in pristine condition in order to achieve anything between asking price and 10% below asking price. “Foreign buyers, or those from upcountry such as Johannesburg, pay for and appreciate homes that are well maintained, and sellers are encouraged to keep this in mind.”

The listing days echo this where properties that are well looked after and correctly priced are sold within 30 to 60 days while overpriced homes or even those that achieve a 20% reduction in price can be on the market for anything between 500 and 1000 days,” they add.

Recent sales in the area by Jawitz Properties include a home in Croft Road that sold for R19.7 million to a buyer from Sweden due to its excellent condition.

The top end schools and the improved crime statistics in Upper Constantia are very appealing to buyers looking for exclusive homes in this sought after area. “Then of course the history and wine route are also enticing, as are the beautiful surroundings including views of the mountainside of Kirstenbosch Botanical Gardens,” they conclude.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Jan 2018
      Many people only start thinking about home-ownership when they are ready to “settle down” or start a family, which is why first-time buyers these days are generally in their mid-30s, compared to those in the previous generation who were usually in their mid-20s.
    • 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.
        
    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