Situated in Tokai this luxury five bedroom, four bathroom home is priced at R8.4 million through Pam Golding Properties.
With just over half the local residents remaining in the area for 11 years or more – according to Lightstone statistics – the mature and leafy suburb of Tokai in Cape Town’s Southern Suburbs is consistently one of the most popular residential destinations in the region for home buyers. It is increasingly in demand by younger buyers, with 25 percent of sales from August 2014 to July 2015 in the 18-35 age group and 44 percent aged 36-49 (Lightstone).
As a result, there is seldom much housing stock available to purchase, says Pam Golding Properties agent Colleen Curtis. “With its lovely parks and lots of green, open spaces, people fall in love with Tokai either before or when they move here and simply don’t want to leave. Most of our buyers are young couples who are planning to start a family or who already have young children. There are also many elderly residents who are either waiting for a spot in a retirement village or plan to remain here indefinitely”.
“Tokai still has a country feel to it, yet has easy access to the M3 and Cape Town, is close to all amenities and Tokai Forest, with beaches a short drive away. The upper area is most in demand, with three and four bedroom family homes being the most popular, and with a current average price of R3.8 million. Dennendal is the most sought after pocket and considered a prime address where you can expect to pay, on average, well over R5 million.”
Well-priced properties in high demand locations can receive more than one offer. Houses take on average 27 days to sell at present, but if a well-priced, perfect property, it can sell in a few days.
All the apartments in the Tokai area are situated in close proximity to Blue Route mall. The most popular complex is Tokai Villas, which consists of three well-maintained residential complexes – Brittany, Burgundy and Bordeaux, with units priced between R850 000 and R1.5 milllion. “Being close to transport routes and in walking distance of amenities, these apartments are popular among ‘swallows’ who spend about six months a year in South Africa, as well as professionals and the career-minded, and retirees. They are also sought after by investors due to the popularity of the units as rental accommodation,” says PGP agent Dawn Roberts.
Situated in the upper area of Tokai opposite Steenberg Golf Estate is the large gated complex Forest Glade, which comprises 103 freestanding houses priced – when they become available for purchase – from R2.5 million to about R3.4 million and with an average selling price of R2.9 million.
In the areas of Lakeside, Kirstenhof, Sandvlei and Klein Wassenaar, all located above the M3, good value for money means smaller homes with low municipal rates, ideal for start-up couples, which sees houses with two or three bedrooms often sell within days, with two or three offers on the same property, according to PGP agent Lee-Ann Davis.
“These areas enjoy scenic mountain views and proximity to water, which is very appealing to home buyers. A standard small home with three bedrooms and one bathroom can be acquired for R1.8 million, ranging up to R3 million for properties higher up the slopes. The shortage of stock is definitely pushing up prices in these areas.”
With a rural feel and mostly 4 000sqm erven – attracting the equestrian set and nature lovers – is the very appealing area of Zwaanswyk, which offers breathtaking views from the upper region. PGP is seeing more and more houses being renovated into beautiful and palatial homes with values from R10 million upwards. There is still some vacant land available, selling from R4 million to R6.5 million (according to Propstats), while a plot with a view will sell for more.
Tokai is also home to a number of well-established residential estates, all of which are increasing in demand by home buyers. The most prestigious is Steenberg Golf Estate, with 225 luxury homes and only a few available for sale at any one time. Says Curtis: “Few owners ever want to leave the estate given the irreplaceable lifestyle and consistent capital growth. The result is that many of the homes are now being completely revamped with the latest modern finishes and fittings. This is another area which is attracting the swallows and also retirees who are scaling down and travelling more.”
On Steenberg Estate the entry level asking price is currently R8.5 million, with average prices around the R10 million to R14 million mark and with a top end home reaching R29 million. With a highly-rated world-class golf course, hotel and spa, top restaurants, vineyards and immaculately manicured gardens, most of the homes on Steenberg enjoy views across the open spaces of the golf course.
Well positioned on the Silvermine Mountain slopes adjacent to Ou Kaapse Weg, Stonehurst Mountain Estate – the newest in the Tokai area and with panoramic views across the Constantia Valley and to False Bay, is rapidly reaching completion with 80 percent of erven developed, with family size homes of 300-500sqm costing on average between R7.5 million and R15 million and a top price of R25 million. There are also two townhouse developments, Stone Village and Stonehurst Close, which start at R3.2 million for a 168sqm duplex with typically three compact bedrooms and two or three bathrooms, modern open-plan entertainment area and a small outdoor braai with garden, and ranging to R4.5 million and R5 million for the prime three-storey townhouses with mountain views.
Currently there are 270 completed houses on the estate, just eight vacant plots and 14 plots in the construction phase. Feeding off Helderberg Road in a new street called Magaliesberg Road will be a phase 2 development on the west side of the estate, where most of the plots have been sold, with two plots remaining available priced at R2.65 million and R2.75 million.
Stonehurst attracts a good mix of home buyers and investors, with the townhouse complexes drawing first time home owners with no children or young families as well as the mature market where scaling down is a priority. The larger homes are also popular as rental accommodation for international corporates such as gas and oil companies and the American Embassy, which is situated in Tokai. Interspersed with lakes, streams and footpaths and home to the endangered Western Leopard Toad, the estate includes a lifestyle centre with lounge, bar, games room and gym.
The fully-developed Silvertree Estate sees homes selling from R5.2 million to R8.9 million (Propstats) for homes varying from 200-400sqm in size. “Security remains an important factor driving sales in estates,” adds Curtis. “The carefree, independent lifestyle that children can experience – riding their bikes in the street, visiting a friend on foot, or playing in the park down the road, is priceless. Silvertree is ever-popular for families with children attending Reddam, since children can walk to the gate which is adjacent to the estate to enter the school.”