The real estate industry may be in the doldrums at the moment, but it’s not all doom and gloom as some areas, like Constantia in the Cape, are still seeing high ticket sales and new development, with the latest offering about to break ground.
According to Lew Geffen Sotheby’s International Realty’s Upper Constantia team, there is still notable interest at the top end of the market from both local and foreign buyers, the latter predominantly swallows and investors who are already, or are looking to become, permanent residents.
“Propstats data reveals that for the year to date, there have so far been five sales of homes priced above R20 million in Constantia Upper, with the highest sale price being R53m for a home in Silverhurst Estate which sold for R10.2% less than asking price,” says team member, Jacque Fourie.
“There were also 12 sales in the R10m to R20m price band, two of which sold for full asking price whilst the others sold for an average of 7.9% below the marketed price.
Fourie adds that there is also still notable interest from swallows and other foreign buyers, many of whom are, or want to become, permanent residents, largely due to the comparative value the area offers and the quality lifestyle residents enjoy.
And now that hard lockdown has eased, construction will begin on a much-anticipated contemporary boutique estate in the highly sought-after Hohenort pocket of Upper Constantia.
Botanica at Hohenort, an exclusive estate with 24-hour security, consists of only four double-storey designer homes built to exacting European specifications with a host of unique selling features unmatched by any other estates in the area.
A fellow team member, Joanna Thomas, says: “Developments in Upper Constantia have always followed a more traditional architectural style, but the Belgian developers, Square Turn Developments, wanted to create something completely new and cutting edge.”
“Contemporary lines and bright airy spaces are warmed by natural wood and stone finishes which harmonise with the scenic natural surrounds and the L-shaped ground floor living area opens up completely to merge with the expansive private outdoor entertainment area that includes a plunge pool.
“Each fully-automated home also features top-of-the-range security and easy-living technologies with energy-saving features throughout and landscaped, water-wise indigenous gardens.”
She adds that the units are also fitted with a host of eco-friendly and sustainable living features, including Insulated roofs and ground floor slabs, water-based underfloor heating, intelligent lighting and energy control systems, grey and black water recycling, rainwater harvesting and integrated water heating system with solar supplementation.
“Buyers continue to be attracted to Constantia as there are very few areas in the country which offer the same stability and unique drawcards,” says team member, Rouvaun McKirby.
“Although only 20 minutes from the city, the historic tree-lined suburb boasts not only gracious homes with expansive gardens but also country living in a spectacular setting of lush vineyards, wine estates and rolling hills set against the backdrop of Table Mountain.
“Residents not only enjoy the convenience of an established functional infrastructure and access to first-rate amenities but also enjoy the privilege of an unparalleled lifestyle.
“They are surrounded by abundant stretches of protected greenbelt and outdoor enthusiasts are spoilt for choice with myriad facilities quite literally on their doorsteps and there are endless kilometres of biking and hiking trails as well as a number of well-maintained parks.”
Botanica at Hohenort is marketed exclusively by Lew Geffen Sotheby’s International Realty with prices starting at R26m plus vat (no transfer duties).