Areas and Places

Upmarket Constantia offers investors value and variety

Constantia home, Lew Geffen Sotheby's
Located within the Sweet Valley Catchment area, a north-facing home with 4 bedrooms, a study, 3 bathrooms, open plan living area with wood burning closed combustion fireplace and a family room opening onto a large covered veranda. On the market for R6.2m, it has a double garage and ample parking.

Constantia is often perceived to be one exclusive suburb populated with expensive mansions priced well beyond the reach of all but the wealthy. However, this is not the case at all; it actually comprises a number of suburbs with varying entry price points starting at around R3.8 million in Lower Constantia.

Eileen O ‘Sullivan, Area Specialist for Lew Geffen Sotheby’s International Realty in Constantia Hills, Constantia Rural and Lower Constantia says: “There is excellent value to be found in the area and a wide range of properties to suit all lifestyle needs and budgets”.

The general price range of the current stock on the market in Constantia Lower ranges between R4.3m and R11.5m, in Constantia Hills from R6.2m to R10.8m and in Constantia Rural between R7.9m and R15m, which is comparable to prices in the more sought-after Southern Suburbs.

Citing Propstats data, she says that during the last year ending 11 October, 33 houses were sold in Lower Constantia at an average sale price of RR4.9m, 12 house sales in Constantia Hills realised an average R6.19m and in Constantia Rural, there were eight house transactions with an average sale price of R8.37m. The average time homes spent on the market was 75 days, 91 days and 84 days respectively.

However, during this period there were very few plots sold in spite of strong demand for vacant land in these suburbs.

O’ Sullivan says: “There are very few open plots left and those that do come on the market are snapped up quite quickly. Recent sales include a plot in Lower Constantia which was on the market for R2 250mil and a record high in Constantia Hills where a plot in Sweet Valley sold for R6m. In Constantia Rural the most recent recorded sales of vacant land were R3.2m for a 1169m² plot in 2016 and R5950m for a 2448m² stand this year“.

She adds that a large tract of land in Sweet Valley was recently subdivided into five plots of 4000m² plus which were sold for between R4.5m in 2015 R5.9m in 2017.

Most plots are still bought by individual investors looking to build their dream homes, but we are seeing growing interest from developers with one development currently on the market and another in the pipeline.”

Although the entry level price band here is by no means cheap, the area continues to attract investors because of its prime position with sought-after amenities and the fact that property has steadily grown in value, despite the subdued residential market.

This is according to Lew Geffen, Chairman of Lew Geffen Sotheby’s international Realty, who says: “The popularity of areas like Constantia is increasingly driven by their proximity to good schools as demand for quality education has resulted in long waiting lists at result-producing schools and many families with young children now determine their choice of schools prior to selecting a residential area”.

Recent studies of sales trends are revealing that potential buyers are now becoming more inclined to settle where schools are within a short commuting distances from home. Constantia is home to excellent schools like Reddam House, Herzlia, The American International School and Constantia Waldorf School, and a short drive from well-known schools like Bishops, Rondebosch Boys’ High School, Wetpups, Herschel and Springfield. Sweet Valley and Wynberg are also zoned for the area.”

Geffen says that another significant draw card is a comparatively lower crime rate than most other areas due to the collaboration of local community volunteer patrollers, the Constantia Valley Information Centre, a camera network and a special response team (SRT) that works in close collaboration with Wynberg SAPS.

An established infrastructure, access to first class amenities and the myriad activities for outdoor and sports enthusiasts are also draw cards that attract buyers to the region.