Construction of infrastructure has begun at the 250-unit Knysna Lifestyle Estate which caters for a growing demand for quality retirement accommodation.
Ling Dobson, Pam Golding Properties' area principal, says the first sales agreements have been concluded and building of homes commences in January (2010). "Transfer of all 35 homes in the first phase will be in September 2010. One of the key areas of interest among potential buyers - the 20-bed frailcare facility - has been approved, with building to commence before the end of 2010. There will also be day clinics for medical assistance of a non-urgent nature," she says.
Dobson says the other key drawcard is the low density of this 52ha estate - with only five homes per hectare, coupled with the fact that 25 percent of any capital appreciation on the resale of a house is allocated to a levy stabilisation fund in order to keep future levies as low as possible.
"We're anticipating keen interest from upcountry buyers during the forthcoming festive season. Prices of the two and three bedroom homes, with covered verandas, double garages and all modern conveniences, range from R2.7-R5.2 million. Homes will be in a contemporary design style, set among tranquil country lanes with walking paths and green belts. All stands have been carefully surveyed by architects who have chosen 17 different floor plans, to make each home idyllic as well as suited to the contours of the site," she says.
Knysna Lifestyle Estate offers scenic views of the Knysna lagoon and Heads, surrounding hills, mountains and dams. It's just 10 minutes from the centre of the town of Knysna, 20 minutes from Plettenberg Bay and 40km from George and its airport.
Facilities on the estate will include a luxury clubhouse with restaurant, library, studio, billiard and card rooms and bar, while sports facilities include a gym, heated swimming pool, sauna, bowling green and tennis courts.
Dobson says residential property sales in Knysna are reflecting an upturn.  "From March to December this year (2009) we've seen an increase in sales turnover of just over 42 percent to R80.9 million compared with R56.8 million during the same period last year. During this time sales volumes also increased.
"Recent buyers include those capitalising on the lower prices to gain a foothold in the Knysna property market. Quite a few sales have been to locals – adding to their investment portfolio, and we've also seen an increase in sales to overseas buyers. As the town of Knysna is expected to host players from two international teams (France and Denmark) during the 2010 Soccer World Cup, we are looking forward to the opportunity to showcase our properties to the global market. The lifestyle retirement development is expected to attract both national and international buyers, and will be an ideal investment for ‘swallows’ - those from overseas who spend some months of the year here, and who have grown to love Knysna," says Dobson.
Issued by Gaye de Villiers
Loading comments
More news articles
Guidelines to securing a home loan
29 May 2018
Many young South Africans are working hard to achieve their dream of purchasing their first home. However, the process can be challenging due to the daunting application process, which can take up to 2 years and is often enough to discourage prospective buyers.
read more
Things you should consider before upgrading to a new home
23 Apr 2018
The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
read more