Real estate group Chas Everitt International is opening a new office in the Cape Town suburb of Pinelands.
The franchise rights have been secured by Karen Geyer, who will act as principal. The office will officially open the 17th of March. However, Geyer, who has extensive real estate experience, is already active in the market and reports keen interest in residential properties in the area.
"Pinelands is centrally located and is within 10 minutes from the international airport, the Canal Walk shopping centre and the centre of Cape Town. It is an established suburb offering solid family homes. It was originally established as a garden city and today the suburb boast massive trees and several parks."
The first Pinelands home was built in 1922 and several traditional thatched homes still line the main road, Forest Drive. Geyer adds that most homes are about 60 years old and are attracting family buyers in their thirties. "Buyers are renovating on a large scale and many properties are enlarged by building second storeys."
Prices for older homes with the original bathrooms and kitchens sell from R1,5m while renovated homes sell at around R2,2m. The top price paid to date was R3,65m.
Prices of sectional title properties in older apartment blocks start at around R800k for units with two bedrooms and two bathrooms. These units are popular among older residents and retirees thanks to the proximity of the Howard Shopping Centre.
The Chas Everitt office will open in the old Pam Golding premises in Howard Centre.