Recent property media reports about an upturn in sales – and a stabilization in prices – in Cape Town’s prestigious Atlantic Coast suburb, Camps Bay, are not just estate agency hype.
“The plain truth is that Camps Bay has fared slightly better in the property downturn than most upmarket precincts – and it continues to attract a steady stream of UK, German, US and upcountry South African buyers, who have been much in evidence again this year.”
This was said recently by Alisdair Crofton, General Manager for the Rawson Properties Sea Point and Atlantic Coast franchise. Crofton cited a recent Lightstone survey which said that since 2009, property prices in Camps Bay had fallen by 26%.
“I have no doubt that this is true,” said Crofton, “but what is also true is that 2009 prices were unrealistically high and I can now say categorically that in the last two to three months our agents serving this area have reported a marked increase in enquiries and that, like other agencies serving the area, we are now looking forward to at least a 50% increase in sales in Camps Bay over the next 15 months.”
Lightstone, said Crofton, have also reported that the time that Camps Bay homes are on the market for is steadily being cut and a recent Rawson Properties’ survey of transactions indicates that at least half the homes available now are selling in less than six months.
“This,” said Crofton, “is a big improvement on last year when nearly 40% of the homes listed for sale did not, in fact, find buyers at all and the average time taken on the market for sale was just over a year.”
Two factors, said Crofton, set Camps Bay apart as a precinct and should be considered by property buyers. The first is that a high percentage of homes there have been upgraded in the last ten years. The second is that no suburb, possibly in the whole of the Cape Peninsula, has attracted as many good designs as has Camps Bay.
“It has been said, and I fully agree,” said Crofton, “that Camps Bay has been a godsend for innovative, avant-garde architects.”
Crofton said that prospective buyers have only to look at some of the newer homes for sale on Rawson’s stock list to realize that his claim regarding high architectural standards in the area is wholly justifiable.
Standing out on the list available at the moment, he said, are:
· An incredibly chic and opulent five-star villa with three bedrooms, four bathrooms, a study and a one bedroom apartment. This “work of art” has breathtaking views and a magnificent pool on a large terrace – perfect for entertaining. This unique home also has lift access throughout and two garages.
The price here is R26 995 000.
· A four bedroom, four bathroom, double storey family home that has no less than 650 m2 of floor space. Its design and finishes are totally appropriate to its Cape setting because it has all white walls, both internally and externally and many all-white fittings, particularly in the kitchen. Many of the materials here, such as the porcelain tiles, are ultra-high grade.
“The sea views from this home take in half the Atlantic Ocean,” said Crofton, “and these can be enjoyed from both a patio, a view deck and a pool, which, incidentally, is totally protected from the southeaster winds.”
Internally, said Crofton, most of the areas are open-plan and are linked to the outdoor areas by floor to ceiling glazing.
The list price for this property is R11,5 million, which, said Crofton, is ‘exceptionally realistic’ and recognizes the realities of today’s market.
· A multi-level, ultra luxurious nine bedroom, eight bathroom home which is sited just 500 m from the beach.
The home has 1,000 m2 of floor space, with many open-plan areas, linked by full length glazing to view decks, from which the entire Twelve Apostles range can be enjoyed. The Continental kitchen is equipped with the latest electronic technology and other features throughout the home are decidedly opulent. On the upper floor there is an ultra-luxurious penthouse suite with its own terrace, which enjoys complete privacy as it is separated from the rest of the complex. This home has great potential for someone wanting to operate a really upmarket guesthouse and the home also has garaging for six vehicles.
The price here is R22 million.
· A 150 m2 home, showcasing the very latest in architectural design, which is now on the market at R3,850,000. With three bedrooms, all en suite, and ‘only’ 150 m2 of floor space, this home is definitely smaller than the other two homes, but, like them, it has sea views and almost all the interiors are flooded with natural light. Once again, decidedly upmarket features such as marble tiles and wooden flooring have been used throughout. The home has garaging for two cars as well as ample off street parking.