On the southernmost tip of the African continent, South Africa has every type of conceivable landscape: vast shrub-lands where ‘the big five’ roam, or the Western Cape known for lush winelands and world-renowned fine wines. The wild beaches and craggy clifftops at the Cape of Good Hope are always a draw along with forests and lagoons lining the Garden Route and let’s not forget the city of Cape Town, beneath the iconic flat-topped Table Mountain. South Africa truly does have it all, and there’s never been a better time to buy here.
Marianne Gilmore, of foreign exchange specialist Moneycorp comments,
“The pound/rand rate hit an all-time high this month, giving Brits more spending power in the South African property market than ever before. For Brits considering a property purchase in South Africa, now is a great time to buy.”
Drilling down into the stats Ms Gilmore explains just how far today’s budget stretches.
“In January 2015 a home listed for 5 million rand would have cost £292,397. But, at time of going to press, with the rand trading at R23.42 against the pound, the same property could be purchased for £213,492. Currency movements have created a saving of over £78,000 in the last 12 months.”
Mike Greeff, CEO of Greeff Properties, affiliate of Christie’s International Real Estate, agrees.
“Those in possession of these currencies are well placed to purchase luxury properties in Cape Town at virtually unprecedented prices. The standard of real estate available at these prices in the UK, Europe and the USA is simply incomparable to what Cape Town offers by way of accommodation, size and an unparalleled way of life.”
And, for anyone seeking the ultimate in lifestyle, buying now makes sense. Known for its wild beauty, it’s not surprising that the Atlantic Seaboard continues to be the target for most high-end overseas buyers and its popularity shows little sign of fading for the foreseeable future says Peter Veitch of Investabroad Properties.
“In spite of almost world-wide economic uncertainty to which South Africa is by no means immune, the property market remains relatively buoyant, particularly in the higher price ranges and luxury end of the market.”
Mr Veitch also believes that the rand’s declining value against most currencies is a vital factor but he finds that overseas investors are not deterred as the glittering South African lifestyle is so sought after.
“There is still an appetite to invest surplus pounds and dollars into the South African market and, of course, the extraordinary low cost of living, coupled with the wonderful benign climate and spectacular scenery, is always likely to be a significant draw to those seeking a different lifestyle.”
The Atlantic Seaboard, Southern Suburbs and Southern Peninsula of Cape Town have many examples of record prices. Shaun Ascough, owner of VIP International Homes, finds that direct beachfront property in Kommetjie which hadn’t sold for up to five years has all been recently snapped up.
“Almost all of these properties have now sold with a number having been demolished to be replaced with larger newly built properties,”
says Mr Ascough. He lists factors such as; climate, outdoor life, sense of adventure and, especially in Cape Town, some of the most beautiful scenery in the world which he finds is ‘an irresistible attraction to many buyers’. The lifestyle is the main draw and Mr Ascough believes buyers who come to South Africa typically find a warm, friendly welcome and a robust buying process allaying any concerns over security and investment.
With 300 offices across South Africa, The Pam Golding Property Group’s Dr Andrew Golding, is seeing a ‘resilient and strong market’ at all levels of the market.
“The top end from R3 million upwards continues to be extremely active, demonstrating resilience and buoyance.”
It’s not hard to see the attraction when you compare a home in Bishopscourt in Cape Town valued at R25 million which costs the same as a one-bedroom apartment in Knightsbridge in London, says Dr Golding.
“One is paying less than one 10th of the equivalent price of a similar property in London, New York or St Tropez.”
He believes the outlook for 2016 looks good, despite the country’s economic weakness with the bulk of buyers coming from the UK, Portugal, Germany, the UAE, other African countries and China. Dr Golding tips the Southern Peninsula’s Kalk Bay, Simon’s Town and Noordhoek, as well as trendy Greenpoint, and the popular Western Seaboard as areas to watch.
“In the Western Cape’s Boland and Overberg regions, buyers are drawn by a number of factors including lifestyle and access to good schooling, infrastructure and amenities, as well as value for money, particularly in and around hubs such as Stellenbosch, Somerset West, Paarl and Wellington.”
The recently launched Yacht Club development at the gateway to Cape Town’s internationally acclaimed waterfront has experienced an overwhelming demand for apartments, selling to investment buyers at R45,000 to R60,000 a square metre.
“Properties in Cape Town’s central city are in high demand and in short supply,”
he adds. And facilities are constantly improving says Isabel Gouveia of Lew Geffen Sotheby’s International Realty.
“So much improvement has been made towards infrastructure, considering the backlog created by current and previous governments who neglected to consider population growth of the South African nation. We are however on par with most growing and emerging economies and the future is as bright as our year-round good weather.”
Park Lane, Franschhoek, Western Cape
The five-hectare estate of Tseringma is on 11 acres, flanked by vineyards and the Helderberg Mountains in the basin of the Franschhoek valley. The seven-bedroom main house extends from its double-volume reception area, on to multiple landing areas – at the heart of which is a French country kitchen. Each bedroom has beautiful views toward the valley and the guest suites also open on to the courtyard. Air-conditioned cold rooms and a wine cellar provide ideal storage while the L-shaped staff cottage and garages are adjacent to the main house. A self-standing pavilion/entertainment area beside the 20 metre lap and children’s pool faces rolling lawns. Surrounding the estate is a natural collection of fynbos, wildflower and herb gardens, as well as the estate’s dam and clay tennis court.
£3.26m / €4.3m / $4.7m
Savills Residential International +44 (0)20 7016 3740
Constantia Valley, Western Cape
Five-bedroom property with breathtaking views of the Constantia Valley, vineyards and False Bay at the base of the Constantia Nek hiking trail. It is on part of an expansive four and a half acres (roughly two and a half of which is subdivided) and features a beautiful terraced garden. The three-storey thatched homestead offers 1,400m² of living space including a grand double-volume entrance hall, four reception rooms, a kitchen, lounge and an inviting braai.
The bottom storey houses a built-in solid oak bar, wine cellar and tasting room, an office or gym room and three staff quarters. The upstairs level, with five en suite bathrooms is reminiscent of a cosy ski lodge with its exposed beamed thatch ceilings. The property also includes a heated pool, Jacuzzi, borehole and tennis court as well as a separate self-contained cottage.
£1.43m / €1.89m/ $2.06m
Christie’s International Real Estate +27 21 763 4120
![Half-of-Main-House,-Garages-with-Office-and-Games-Room-Above[1][2]](https://ipropertymedia.com/wp-content/uploads/2016/03/Half-of-Main-House-Garages-with-Office-and-Games-Room-Above12.jpg)
Marina Village Estate, Margate
A fine estate with an impressive main house, three cottages (all rented out) and four commercial buildings. The property is part residential, part investment and could, subject to obtaining the necessary planning consents, become wholly for redevelopment. Its gardens include lawns, formal planted areas, several waterfalls, a pool, dam and pond. The swimming pool is close to the main house and there is also a tennis court. Masses of mature trees provide complete privacy and seclusion and are a major feature of the site of around seven acres.
£550,000 / €725,530 / $790,400
Investabroad Properties +44 (0)121 616 5108
The Cape Point Ostrich Farm, Cape Point
Covering 160 acres, the Cape Point Ostrich Farm offers a rare opportunity to buy an extensive plot of land right opposite one of South Africa’s top five tourist destinations, Cape Point. At the southernmost tip of Africa, it is one of Cape Town’s largest farms comprising four houses, three cottages, two apartments, a restaurant, shop, hatchery, numerous outbuildings and views of both of the ‘Two Oceans’ and has been run by the same family for 21 years.
£3.9m / €5.15m / $5.6m
VIP International Homes +44 (0)1425 688 119
Cape Town, Western Cape
This four-bedroom, four bathroom home is a Stefan Antoni masterpiece. Beautifully designed, it offers a total living space of 781m² with breathtaking views of the entire bay. The property includes three en suite bedrooms as well as a separate, fully contained guest suite. Additional features include private lift access, garaging for two cars and a magnificent entertainment area with great indoor/outdoor flow on to private pool and roof garden.
£1.36m / €1.79m / $1.96m
Sotheby’s Realty International +27 21 439 3903
LuxuryEstate.com
