Freedom to work remotely has spiked local and global demand for larger investment properties, especially in South Africa which is famed for exquisite landscapes, a desirable climate and notable wine regions.
South Africa has some of the world’s most sought-after real estate, but it appears that post-pandemic buyers are searching for something different. A new definition of luxury living has emerged with an emphasis on design and the artistic expression of a home, exceptional outdoor space with views to match, innovative and sophisticated home offices that evoke creativity and the quintessential features that reflect a buyer’s distinctive tastes.
International film locations company, Amazing Spaces, has paired international film crews with South African properties since 2000 with locations that are highly sought after by some of the world’s top photographers. Responding to demand from clients over the years to purchase location properties, Amazing Spaces has expanded their offering by launching Amazing Spaces Lifestyle Investments.
“It has been a long time coming. We have been waiting for the right time. Our exclusive portfolio ranges from rare designer penthouses and celebrity homes to large private estates with unrivalled access to nature and adorned with some of the finest interior finishes. In many ways our buyers are like the photographers we have worked with for so many years. They have an eye for the extraordinary and we have the homes to match” comments Julia Finnis-Bedford, owner of Amazing Spaces and co-founder and director of Amazing Spaces Lifestyle Investments.
While timing is everything, the high-end property market has always been intrigued with foreign investors and the pandemic has made it even more desirable with low interest rates and excellent value for money.
Andrew Dewey, director and co-founder of Amazing Spaces Lifestyle Investments explains: “We have carved out a niche within the sector for which we are focusing our efforts on especially seeing we have a network of potential buyers and sellers already in place. And as the vaccine rollout gains momentum, we are likely to see an even bigger surge in demand for this type of property in the long-term.”
“Buyers seem to also have become far savvier about home innovation and design and are looking for an ideal balance when it comes to matching it with comfort and personal style. We are therefore placing a lot more emphasis on how we train our sales staff, who will need to understand the structural and technical functionalities of each home. This after all constitutes a new normal for what was previously termed luxury.”
The affluent real estate market in South Africa is vigorously competitive with over sixty estate agencies competing for sole mandates across the country. Buyers and sellers are going to be looking for value-add not only in the properties they purchase but, in the agency, they choose to work with post-pandemic. Amazing Spaces Lifestyle Investments will not be listing just any home, they will need to have a wow factor that sets them apart.
“We consider the properties we sell to be scarce resources and before listing a property we ensure they meet at least three of the following criteria. They must have some historical significance and tell a story. We look at whether the home was designed by a renowned architect. If it embodies any artistic architectural features worth noting. How technologically smart the home is, as well as the size of the building and the land, and of course its location. We are not in the business to sell homes; we sell lifestyles,” concludes Dewey.