With estate homes now accounting for around 15% of the SA property market, its no secret that there is still great demand for the benefits they offer, including high levels of security, low maintenance and community lifestyles. But, most of these developments are priced beyond most consumers budgets as they find themselves tightening belts further and further each month.
Which is why when competitively-priced new developments come up for sale off-plan, there is still very keen buyer interest, especially in sought-after areas like Kenilworth Upper where units in the latest offering, Salisbury Mews, are being snapped up.
Competitively priced Kenilworth Upper estate homes tick all the boxes
The growing appeal of low maintenance community living coupled with high levels of security has seen demand for homes in secure estates burgeon in recent years, with these properties now accounting for around 15% of the entire property market in South Africa.
However, with the average price of these properties being nearly three times the national average for a freestanding house according to Lightstone data, they are increasingly priced beyond the reach most beleaguered budgets, especially in sought-after areas like Kenilworth Upper.
Which is why the latest offering in this suburb is attracting keen interest. Situated in a tranquil, tree-lined street, Salisbury Mews comprises just six contemporary freehold townhouses for sale off-plan and, although building is only due to commence in June, four units have already been sold.
According to Ruth Leach and Anne Goddard, Partner Area Specialists for Lew Geffen Sotheby’s International Realty, these homes are a rare investment opportunity as they offer excellent value in a high value area.
“Very competitively priced between R4.16 million and R4.78m (plus VAT, no transfer duty), Salisbury Mews offers the best of both worlds: the lock-up-and-go-convenience of an apartment with the relaxed lifestyle of a spacious house.
“Designed with privacy in mind, the units have generous ground floor open plan living spaces that flow out to secluded patios and compact gardens, gourmet kitchens are fitted with Smeg ovens and all three luxurious bedrooms upstairs are en-suite.”
Other features include solid engineered wooden floors by Oggi, Pebble vent-free fireplaces, double garages and state-of-the-art security with electric fencing, cameras, aiphones with camera recognition, security beams and infra-red internal alarm systems.
“According to Lightstone data, the average sale price of a freehold home in Kenilworth upper for the past year ending April 30 is R6.994 million, which makes these luxurious homes exceptionally well-priced,” says Claude McKirby, Southern Suburbs Co-Principal for Lew Geffen Sotheby’s International Realty.
“They are also a considered investment as secure homes in prime locations will always attract investor interest, especially those priced below R10m which tick the primary boxes on buyer’s wish lists.
“When demand outweighs supply in desirable upmarket suburbs, investment almost always yields exceptional returns, irrespective of market conditions with properties in secure estates being especially receptive to significant capital growth.”
“Convenience is increasingly topping buyer’s wish lists,” say Leach and Goddard, “and Kenilworth Upper delivers without compromising on lifestyle.
“Everything residents could possibly need is virtually on their doorsteps; from a choice of top class retail centres, popular eateries and first-rate medical facilities to a variety of outdoor activities and sports facilities.
“And, with the huge upgrades currently underway in Kenilworth, including a host of new shops and amenities, the node is developing a ‘village’ feel and residents will soon be able to walk to all their favourite venues in the new shopping hub, including a brand-new Pick and Pay, Knead Bakery, Bootleggers, Sorbet and Wine Concepts.
Exclusively marketed by Lew Geffen Sotheby’s International Realty, Salisbury Mews is due for completion in April 2020 and priced between R4.16 million and R4.78m (plus VAT, no transfer duty).