Rising demand for homes in the southern Cape Town suburb of Bergvliet and a simultaneous decline in the number of homes for salehave put significant upward pressure on prices this year – and led to the recent sale of a home in the area for the record price of R4,63m.
The record sale was negotiated by Cecily Madison and John Pistorius of the Chas Everitt International Constantiaberg office, who say there were two other offers competing for the Starke Road property, which has excellent security and is situated close to the highly-rated Sweet Valley Primary School.
Multiple bids, they note, are not at all unusual now in Bergvliet or its neighbouring suburbs of Kreupelbosch and Meadowridge. “Demand here is very high, for a number of reasons, and there is increasing competition among buyers for the limited number of homes for sale.
“This has caused prices to rise by as much as 12% this year – which is about twice the national average rate of increase – and put the area very much on a par with Lower Constantia, with most homes priced at R2.5mill to R3mill, and an increasing number of sales in the R3m to R4m range.”
The major factors attracting buyers to the Bergvliet/ Kreupelbosch/ Meadowridge (BKM) area, the agents say, include its relaxed, family-friendly atmosphere, close to popular beaches and forests, combined with a great location within easy reach of the Cape Town CBD, and excellent local schools.
“We also have a local security service, BKM Watch, which is very well-resourced and managed; a strong community commitment; clean parks and other public spaces; and a good variety of upmarket sporting, shopping and entertainment facilities.”
Most homes in the area are large and set in spacious grounds along tree-lined streets, and most are good value for money, the agents say. The home they sold for R4,63mill, for example, has five bedrooms plus a study, 3,5 bathrooms, 3-4 large living rooms, a designer kitchen, a double garage and a pool and is in immaculate condition.
It also boasts a state-of-the-art security system and lovely views from more than 1200sqm of garden, and was ultimately bought by a Constantia buyer for just approximately 4.5% less than its asking price.