Located in the popular northern suburbs of Cape Town, Bellville is experiencing a high demand for residential property, even resulting in stock shortages, says Keimpe Weistra, Pam Golding Properties (PGP) area principal in Brackenfell, who also covers a range of suburbs just south of the N1.
“The main attributes of suburbs in the Bellville areas are sound value for money and affordability coupled with easy access to the N1 highway, shopping centres, primary and high schools and the many open parks in the area. Being within easy reach of the Cape Town International Airport via the R300 highway also plays an important role for buyers looking to acquire property in these areas, while the scenic Durbanville wine route is close by,” he says.
Weistra says suburbs which are very popular among home buyers are Oak Glen, Blommendal, La Rochelle, Blomtuin, Chrismar, Oakdale and Boston – leafy, established areas, with prices to suit all sectors of the market.
Pam Golding Properties is experiencing a shortage of stock in these areas due to demand for full title properties, particularly in the price bracket up to R1.5 million. Says Weistra: “We are finding that many of our purchasers are first time buyers or young families who are upgrading from an apartment or were previously renting and wish to acquire their own homes. The easy accessibility to the main routes to the city, northern suburb business districts of Bellville and Parow, Century City and close proximity of schools in the area make it very attractive. Other buyers are acquiring older homes in the areas of Oakdale and Boston to upgrade according to their own taste. In the past 12 months (to 31 May 2013) 60 residential properties priced between R800 000 and R1.5 million were sold in Boston (across all agencies), with more than 50 percent of buyers younger than 35 years of age.
“In the same period 43 properties in this same price range were sold in Oakdale (also across all agencies). We are also receiving enquiries from investors wanting to acquire homes in Oakdale and Boston to let for rental income. A neat, three bedroom, two bathroom home with a double garage can achieve rental between R7000 and R7500 per month. For buy to let investors purchasing below R1 million and with capital growth and rentals due to increase annually these properties can be a sound investment opportunity, particularly taking into account the convenient location of these areas.”
In Oakglen houses can reach prices of R1.6 million/R1.7 million, while in Blommendal there are houses listed at these prices and through to R2.2 million, and up to R2.9 million in Boston.
Weistra says realistically priced homes below R1.5 million – which would comprise three to four bedrooms, two bathrooms and swimming pool or three bedrooms plus a flatlet – sell within approximately four weeks, while properties priced up to R2 million for four to five bedrooms with three bathrooms, swimming pool and spacious entertainment areas, sell in about eight weeks.
“We also have sectional title properties priced from R400 000 for one bedroom units, with two bedroom apartments starting at around R600 000. Recently, we sold two sectional title properties situated in Oak Glen in the R900 000 price range within four weeks, after only three well-attended show days. These units include three bedrooms, two bathrooms, two open plan living areas, double garage and garden area. PGP also sold a three bedroom home with a flatlet in Boston in six weeks after listing, which fetched R1.15 million. Renovated by the owner the home is well positioned close to a primary school and a high school in the area – a key attraction for the buyer,” he adds.
Some of the primary schools in the Bellville area are Bellville Primary, Bellpark Primary, Bellville Noord Primary, Boston Primary, Totius Primary and Vredelust Primary, while high schools include Bellville High, Bellville HTS, DF Malan High, Stellenberg and The Settlers High School. Shopping facilities include Tyger Valley shopping centre and Willowbridge.
“We are also marketing properties listed above the R1.5 million mark, with four to five bedrooms, open plan living areas with modern finishes and large garden and swimming pool. Compared to other areas in the northern suburbs of Cape Town these properties offer extremely good value.
For further information contact Keimpe Weistra of Pam Golding Properties on 021 982 1851 or 083 381 7710 or email firstname.lastname@example.org.