The Joostenberg precinct on the northern edge of Kraaifontein, a fast growing area just off the N1 and 35 km from Cape Town, has proved to be an ideal territory for the development of residential projects, says Cobus Krige, the Rawson Property Group’s Kraaifontein Brighton Sales Manager for a new project known as Viking Village.
Krige and his team of five agents have a freestanding sales office adjacent to the Kraaifontein Town Hall. At Viking Village they are working for the Oosthuizen family, whose firm, founded by the late, now legendary, Dana Oosthuizen, have been major property developers in Cape Town’s Northern Suburbs for some 33 years.
“One of the secrets behind this family’s success,” says Krige, “is that virtually all of the land which they are now developing was bought and paid for as farmland many years ago and this enables them to cut costs significantly.”
The Viking Village project will consist of about 150 single storey freestanding homes on plots varying in size from 300 m2 to 551 m2. Buyers are offered no less than 16 different plans, varying in floor area from 77 m2 to 126 m2.
The prices are pitched from R664,000 (for a two bedroom unit) to R935,000 (for a home with three bedrooms, two bathrooms and a double garage). The prices of these properties are expected to grow by five to seven percent each year.
In general, says Krige, his buyers opt for homes around R800,000 and, as they are buying directly from the developer, all transfer fees and bond costs are included.
Buyers are also given a wide range of choice regarding finishes and fittings, including the treatment of their buildings’ façades. These can be in face brick or plaster. Window frames are of aluminium, the outer doors are all solid wood and the backyards are enclosed in precast panels. Included in the package for all houses are 100 m2 of roll-on lawn (or more if clients are prepared to pay for it).
To date, says Krige, about 40 homes have been sold and currently some five homes are signed for each month by his team and those of other agencies. This, he says, indicates that a successful sell out could be achieved well before the end of next year.
According to Krige, buyers are very conscious that the value they are getting at Viking Village compares favourably with all other accommodation available in the Kraaifontein area. Sales, he says, could however be even higher if potential buyers sorted out their credit records before starting to look for a home. Roughly 50% of bond applicants in the area are turned down often because of often very minor credit blemishes. To buy a home of approximately R750,000 at Viking Village, the applicants would need a combined husband and wife income of around R24,000 per month.
“Whichever way you look at it,” says Krige, “Viking Village must represent one of the best value for money offers currently available anywhere in the Western Cape Northern Suburbs – and I challenge anyone to disprove that.”