Areas and Places

Demand for luxury estates animate market prices

Located in a gated security estate on the mountainside in Rocklands, Simon’s Town, this property has been designed to witness the splendour of the Indian Ocean in panoramic glory. Six bedrooms, five bathrooms two garages and a pool. Particularly noteworthy are two double volume suites, one of which boasts a glass staircase leading to a trendy loft. Asking Price R22.9 million.

“The growth in luxury security estates across the South is in direct response to a very real and growing demand for a home that is a true sanctuary,” says Mike Greeff, CEO of Greeff Properties Christie’s International Real Estates.

“Luxury real estate in Cape Town is synonymous with state-of-the-art security, since the jumping off point for a luxurious lifestyle must be the opportunity to relax completely, and without the peace of mind top class security offers, this can be difficult to achieve,” explains Greeff.

He says that the increase in the number of luxury gated estates or gated clusters around the peninsula is to be expected and concomitant price tags indicate that this is a growing asset sector.

“The lifestyle offered by this type of property is something buyers will stretch themselves to acquire,” says Greeff, adding that the advantages are numerous; Children can play freely and ride bicycles in streets without being endangered by speeding cars or criminal elements, and the same is true for adult cyclists, walkers, and joggers.

Estates offer homeowners freedom from the burden of maintenance, in that communal gardens, pavements and other shared areas are generally maintained. Lock-up-and-go opportunities allow for a flexible approach to travel and erratic working hours.

“We’re seeing an increasing number of interested buyers hailing from other provinces, particularly Gauteng and KwaZulu Natal,” says Greeff. “We anticipate that “semigration” from these provinces to the Western Cape will not only continue, but grow over the next decade and with residential stock across the peninsula in short supply, and in high demand, new developments with security are snapped up,” explains Greeff. “Furthermore, the availability of land earmarked for residential use is limited and the number of the developments located on sites offering natural, rare beauty is likely to diminish in the coming years. Chapman’s Bay Estate is one such example of a rare location, the likes of which we are unlikely to see again,” says Greeff. Located on the mountainside along Ou Kaapse Weg, among indigenous flora and fauna, the site offers exceptional views of ocean and mountain. Phase 6 of Chapman’s Bay Estate in Noordhoek is to go ahead, and along with existing plot and plot-and-plan options, a new design option is being offered – single-level Terrace Units with three or four bedrooms. Priced from R4.635 million. These single-level Terrace Units will comprise three or four bedrooms with living space ranging from 283m2 to 304m2.

Various other design options are available, and these include: Townhouses priced from R3.250 million, Courtyard Units priced from R4.185 million, Wetland Units priced from R4.725 million and Avenue Units priced from R4.805 million.

The greater proportion of luxury security estates are located in the Southern Suburbs and the Southern peninsula. With the accolade of most prestigious, is Silverhurst, in Constantia Upper, where a record selling price of R38 million was achieved in 2008 for an 800m2 home set on a 4000m2 plot. Thanks to demand, more mini-estates or clusters of homes within a walled perimeter with a controlled access gate are appearing in top-end suburbs such as Constantia Upper. These estates include: Warblers Grove Security Estate; Southern Cross Drive Security Estate; 15 Spaarman Avenue mini Security Estate and Warblers Way Security Estate.

Greeff is currently marketing a five-bedroom, five-bathroom home with three garages in Warblers Grove Security Estate, an enclave of eight homes, with high-end security. The 640m2 home spans two floors. Asking price: R19.9 million.

“The Eight” in Upper Claremont is unusually set in the more central and populated southern suburbs and offers a sanctuary and a secure lock-up-and-go investment opportunity at R6.9 million inclusive of VAT,” says Greeff.

“Hout Bay is home to a number of highly sought-after security estates which enjoy spectacular views and beautiful indigenous surrounds,” says Barry Todd, Principal of Greeff Properties Hout Bay. “We’re currently marketing four properties on security estates, three of which are on Ruyteplaats – a magnificent estate comprising 34 hectares, 17 of which feature indigenous gardens, with winding walking trails, a small dam, lawns, children’s play area and tennis court”. 

Most properties have great sea and mountain views,” says Todd. Asking prices range from R9.75 million for a five bedroom, four-bathroom 521m² home with three garages on a 1,506m² plot to R13.85 million for a five-bedroom, six-bathroom 650m² home with two garages on a  1,481m² plot.

“The Estate is close to Llandudno and therefore has easy access to Camps Bay and the City centre,” adds Todd. Greeff Properties Hout Bay is also marketing a four-bedroom, three-bathroom home in the sought-after BergenDal estate.

Asking price: R8.75 million. Tierboskloof is a 16-hectare residential mountain estate boasting spectacular views and natural beauty including waterfalls and fynbos all within an exclusive gated property. Greeff Properties Hout Bay has three homes for sale in this estate ranging in price from R6.9 million for a four-bedroom, three-bathroom home to R15.9 million for six-bedroom, five-bathroom home.

“The last twenty years have seen a steady growth of residential and commercial real estate stretching from Steenberg and Westlake over Ou Kaapse Weg to Noordhoek. These were historically areas that were viewed as off-the-beaten-track. With advent of schools, and lifestyle estates, the “far” southern suburbs and southern peninsula is a burgeoning hub in itself,”says Greeff. He says that astute buyers and investors seek out properties in Nieuwe Steenberg Estate, Silvertree Estate, Stonehurst Estate, Stonehaven and as mentioned above, Chapman’s Bay Estate. This part of the world offers access to beaches, mountain trails for hiking, equestrian trails and a number of restaurants and farm stalls.

“Demand for amenities has seen the advent of a hospital, a Virgin Active gym, new shopping outlets and schools,” adds Greeff.

Currently for sale by Greeff in this part of the peninsula, a three-bedroom, three-bathroom townhouse at Nieuwe Steenberg, asking price: R9.29 million. Home to a growing community of families, the luxurious and secure Nieuwe Steenberg Estate enjoys a rare and tranquil setting beneath the Steenberg and Constantiaberg mountains. Built on an elevated heritage site with gentle slopes,
Nieuwe Steenberg, which neighbours the Steenberg Golf Estate, boasts multi-national views including those of the wine award winning vines, the exquisitely landscaped Steenberg Golf Estate, the majestic mountain range and the southern peninsula.

Greeff is marketing two five-bedroom homes at Silvertree Estate, priced at R10.995 million and R10.5 million respectively. “Silvertree Estate is considered to be one of the best security estates in Cape Southern Suburbs. The family-friendly roads and leafy surrounds make it ideal for raising children, especially if they attend Reddam House, which is located next door. Residents enjoy an excellent lifestyle with easy access to golf courses, wine estates, restaurants, shops, forest walks and beaches. A Virgin Active Gym and the main highway to the city are nearby,” says Greeff.

Luxury secure living in Stonehurst, an eco-estate with communal recreation facilities and excellent security including strict 24-hour controlled access, is currently up for grabs in the shape of a unique 900 square metres plus home with 360 degree views and a modern, spacious design. Five bedrooms, seven bathrooms, six reception rooms, garaging for three cars, parking for six cars, and a plot of 1,654m² carry the asking price of R25.75 million.