Areas and Places

Southern Suburbs experiences a flurry of buyers

Pam Golding Properties sold this five-bedroom, five bathroom home, set on three acres in Upper Constantia, for R16,8 million.

Pam Golding Properties’ Southern Suburbs (Cape Town) division reports a bumper 2015-2016 financial year, having notched up 100 sales worth R391 million written in December, January and February alone, says branch manager Lindsay Beck. This compares with 75 sales over the same period the previous year, with a value of R191 million.

Some of the highest prices achieved include an Upper Claremont home that sold for R29 million, three Bishopscourt homes that changed hands for R19.4 million, R18.25 million and R15 million respectively, as well as an Upper Constantia home for R16.8 million.

However, more affordable homes were also snapped up by buyers eager to enjoy the beautiful natural surroundings, good lifestyles and established, efficient infrastructure. There was, for example, a flurry of interest in Pinelands Grove, a retirement development featuring well-designed, independent living apartments set among beautiful gardens. Studio units were available from R495 000 to R575 000, and one- and two-bedroom apartments cost from R895 000 to R2,295 million.

“Property in all southern suburbs neighbourhoods is in demand, especially where homes are close to schools,” said Beck. “Investors are also very keen to buy to let.”

Capetonians made up the majority of southern suburbs purchasers, plus a minority from Gauteng and KZN, and a small percentage of overseas buyers.