The new Chas Everitt International office in trendy Claremont, where sectional title apartments are in high demand.
The surge in demand for both sectional title and freehold homes in Claremont and surrounds has prompted Andre de Villiers, owner of several Chas Everitt international franchises in Cape Town, to expand the group’s presence in the Southern Suburbs and open a new office opposite Cavendish Square.
“This is a very tangible sign of my ongoing and absolute confidence in the Cape Town property market,” he says, “and it will also put us in a better position to assist the increasing number of high net worth international investors who are contacting us as affiliates of the Leading Real Estate Companies of the World® network and its luxury programme, Luxury Portfolio International® (www.luxuryportfolio.com).”
De Villiers says the team at the new Claremont office will initially focus largely on the sectional title market which is currently in the midst of a boom that is expected to last for several years.
“The Claremont business centre has grown very rapidly into a trendy, very cosmopolitan hub, and the demand for homes within walking distance of its offices, shops and entertainment venues is currently at an all-time high. This is of course putting upward pressure on prices – but rental demand is also strong and there are some excellent opportunities here for investors.”
Sectional title manager Ranate Boni notes that her team recently sold several three-bedroom apartments in The Claremont development at prices between R2m and R2,25m – which is a record for the building – and several bachelor apartments in the Marlborough Park block at prices ranging from R670 000 to R750 000.
“We have also achieved top prices in Threehaven Close, Herschel Court, Lynwood Gardens, Berkley, Rondebosch Oaks and Oak Terrace, which are all premium developments in the area we cover, which runs from Wynberg to Observatory.”
“There are 684 sectional title blocks in this area containing almost 14 000 apartments but even so the demand currently far outstrips supply, especially around UCT and the thriving Claremont CBD. Demand is highest in the under R1m category, although higher-priced apartments are also selling well to those seeking to enjoy a secure and convenient urban lifestyle.”
Statistics show, says Boni, that there have been 165 sales in Claremont in the past 12 months with a total value of R223,38m, which puts the average price at R1,35m. In Rondebosch Village, there have been 163 sales worth a total R228,02m, which puts the average at R1,4m.The new Chas Everitt International office in trendy Claremont, where sectional title apartments are in high demand.