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
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
    • 17 Apr 2018
      By the end of 2017, very few housing markets remained unaffected by the mounting pressure of the prevailing economy and political climate but some fared better than others, especially sought-after, well-situated suburbs like Parktown North that tick the top boxes on buyer’s wish lists.
    • 17 Apr 2018
      With urbanisation at its peak and population density in major cities reaching frustrating levels is it any wonder that more South Africans are choosing to move away from the chaos to a quieter life?
    • 16 Apr 2018
      When you are selling your home, you will have potential buyers coming to view it. During these times, you will need to ensure that each room of your home is clean and beautifully decorated.
        
    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