If you are still hoping to get your hands on a new apartment in Woodstock, Vredehoek or overlooking the Bakoven waterfront, then you will need to act fast according to Ross Levin, Development Director for Seeff Atlantic Seaboard and City Bowl.
“New developments are still selling like hotcakes, almost as fast as we can list them”, he says. The demand is currently also across the board, from compact lock-up-and-go apartments to luxury townhouses.
“On the Atlantic Seaboard, the new Little Glen Views development in Upper Tree Road, Camps Bay, comprising of four luxury townhouses with swimming pools, priced at between R13m to just over R16m, has now sold out”, he says.
“The best opportunity here for upmarket buyers is the new 9-unit Infinity apartment complex that overlooks the Bakoven waterfront where there are only 3 units still up for grabs, priced at R22.9m plus VAT each. Infinity overlooks the ocean and the luxury units range in size from 276sqm-375sqm, each with three luxurious bedrooms, open living areas, top class finishes, direct lift access and private rim-flow swimming pools. The complex also offers a gymnasium on top of 24-hour security”.
“In the City Bowl, the 10-unit luxury complex, The Rugley in Vredehoek is also just about sold out”, says Levin.
The development offers trendy city apartments with top class finishes and fabulous views. It is situated in a quiet position with full Table Mountain and city views. Only three units are still up for grabs, each with two bedrooms and two parking bays, priced from R3.55m to R3.9m including VAT.
“The Ironworks in Woodstock, a fabulous rebuild of a historic building that offers trendy apartments that range in size from 50sqm-106sqm with mountain and harbour views is another hot seller according to Levin. The apartments are very affordably priced from just R1.3 million (including VAT) and currently represent the best value on offer in the city, but the units are selling fast”, he says.“Buyers will need to act quite fast, especially if they are looking to buy at the bottom end of the price scale”.
On the whole, Levin says that the developments’ market is still booming. The demand for new builds remains high, especially in the more accessible price ranges. The Atlantic Seaboard and City Bowl areas as far as Woodstock are now regarded as the most sought-after property locations in the country. Any well-priced property in a good spot, especially with views and convenience, is still snapped up quite quickly.
The CBD and Waterfront areas almost resembles one big construction site as the city continues to upgrade and evolve to the next level of excellence with additions such as extending the CTICC (Cape Town International Convention Centre), a new hospital, international five-star hotels, and the Zeitz MOCCA Museum at the Waterfront, the first contemporary art showcase for the African continent.
“The world is coming to Cape Town as the city is now the hottest property destination in the country. Anything that is new, is currently attracting significant attention and property is still a notable growth sector for the Cape economy”, says Levin.
Other exciting residential developments include further mixed-use development at the Waterfront Silos, The Aurum in Bantry Bay and Clifton Terraces, both world-class developments that aims to redefine the benchmark of luxury seaside living and the prices that buyers are prepared to pay.
“We have already seen prices at the Waterfront and Clifton breach the R120 000-R140 000/sqm levels over the last year”.
Another exciting development in the CBD, is the new 17-storey mixed-use Sentinel Development on the corner of Loop and Leeuwen Streets. There are also several new developments around the De Waterkant and Green Point areas such as the trendy new Warwick apartment complex.