New residential homes launched in Parklands North
After the completion of several successful developments in other regions around the country, property developers Anver and Carolyn of New Age Property Developments have returned to the Parklands North area in Cape Town.
Caron Leslie, Broker/Owner of RE/MAX Property Associates, says: “The reason for this is that an interesting trend has developed in the area, which in turn has recently left a gap in the market relating to lifestyle options. We have found that a large majority of the younger up-and-coming residents in the area have chosen to live separately, but on the same property as their parents to save costs while they build their careers. However, while this trend has become more common, there are currently very few homes that can offer this type of accommodation or cater to this lifestyle.”
New Age Property Developments is currently finishing off the first of many homes that will be built to specifically cater to the current needs of extended families. The 206m2 single-level, show house is located behind the new Virgin Active club in Parklands North. It features three bedrooms, two bathrooms, a double garage, lounge and dining room, along with a kitchen boasting the highest possible specs, which include porcelain tile floors and granite countertops. Other features include a solar geyser and laminated floors in all the bedrooms. Attached to the home is a full flat consisting of a lounge, kitchen, separate bedroom and bathroom, as well as a private entrance and garden. She notes that three homes will be built to this specification and will be on the market for R1.995 million, VAT inclusive.
“This is not the only option,” says Virginia Tiplady of RE/MAX Property Associates, who is marketing the development. “There will be an array of alternative configurations and types of properties available to qualified buyers. These will include ten semi-detached, three-bedroom homes with 1.5 bathrooms and a garage selling for R995 000, along will five single-level, three-bedroom homes featuring 1.5 bathrooms and a double garage selling for R1.395 million. In total there will be 25 brand new homes in Parklands North on offer.”
She notes that aside from the new homes that will be built, there are also a number of other New Age Property Developments projects within the Blouberg and Parklands areas that have already been successfully completed. One such development is the Villa Rustica in Chestnut Close, Parklands, which is the first sectional-title complex in the area offering 24-hour manned access control. This development consists of 96 apartments, duplexes and penthouses. Virginia says that along with the various other gated complexes and developments in the area there is also a number of freestanding homes and commercial buildings such as The Pavilion Centre and Sixty on Blouberg that are on offer.
Adrian Goslett, CEO of RE/MAX of Southern Africa, says that the Parklands area has become very popular among the younger generation homebuyers with around 45% of recent buyers under the age of 35 years old. He notes that according to data from Lightstone, a property information and statistics provider, while the growth in property prices in Parklands slowed down during the recession and stabilised they weren’t nearly as affected as some other regions around the country. Although the price wasn’t that affected, the number of property transactions in the area was, however, since 2009 the area has since much higher levels of demand and more properties sold.
“Earmarked for development and with demand growing, Parklands is set to become an excellent investment node for buyers looking for an area with potential future long term appreciation,” Virginia concludes.