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DENSIFICATION PROVING A DRAWCARD FOR JOBURG
HOME BUYERS MOVING TO ESTABLISHED SUBURBS
- Densification, where conventional
homes on one-acre stands are being replaced
with three cluster home units, is proving
attractive in long-established suburbs on
the northern side of Johannesburg, particularly
Houghton, Saxonwold, Melrose, Dunkeld and
Forest Town. Coupled with this, north-facing
homes with scenic views are also in demand
in these areas. Read
more
INVESTING IN CONSERVATION REAL ESTATE IN
THE CAPE PROVINCES - With South
Africa being the third most biodiverse country
in the world after Brazil and Indonesia,
it is internationally recognised as having
an excellent nature conservation history.
The three Cape provinces, namely the Western
Cape, Eastern Cape and Northern Cape, offer
an incredibly diverse range of properties
that have immense conservation value, with
many botanical hotspots acknowledged by
leading international conservation agencies
as priority conservation areas. Read
more
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INFRASTRUCTURAL DEVELOPMENTS IN SAXONWOLD,
ROSEBANK IMPACT POSITIVELY ON HOME VALUES IN 'THE PARKS'
- Homes in key suburbs such as Parkview, Parkwood and
Parktown North, collectively referred to as 'The Parks',
are holding their value extremely well with infrastructural
and growth developments in the nearby Rosebank and Saxonwold
areas providing positive spin-offs for these suburbs.
Read more
APARTMENT WITH DIRECT BEACH ACCESS FOR SALE
ON CLIFTON SECOND - A spacious apartment offering
direct beach access has come onto the market on Cape
Town’s Clifton Second Beach. The home in the sought-after
“Cliffrock” building offers over 300m²
of living space, including three generous bedrooms and
two bathrooms, plus extensive living areas flowing out
onto an undercover entertainment patio. Read
more |
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RESIDENTIAL
LIFESTYLE PROPERTIES FOR SALE IN
SOUTH AFRICA: |
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| DENSIFICATION
PROVING A DRAWCARD FOR JO’BURG
HOME BUYERS MOVING TO ESTABLISHED
SUBURBS |
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Densification,
where conventional homes
on one-acre stands are
being replaced with three
cluster home units, is
proving attractive in
long-established suburbs
on the northern side of
Johannesburg, particularly
Houghton, Saxonwold, Melrose,
Dunkeld and Forest Town.
Coupled with this, north-facing
homes with scenic views
are also in demand in
these areas.
Encouraging
Densification
Rupert Finnemore, Pam
Golding Properties Hyde
Park manager, says the
local municipalities are
encouraging densification
of Johannesburg’s
older, long-established
suburbs and that the approval
process for the development
of cluster homes to replace
a single home on a large
property is being fast-tracked.
Contained Urban
Growth
The Gauteng Spatial Development
Framework (GSDF) and the
Gauteng Spatial Development
Initiatives (GSDIs) are
Gauteng Provincial Government
strategies for provincial
development. Finnemore
says that among the five
critical goals of the
GSDF are resource-based
economic development and
contained urban growth.
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| Parktown
North furnished
and fully equipped
one and two-bedroom
from R1.24milllion
to R2.055million
- no transfer duty. |
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Control
Urban Sprawl
“One of the objectives
of the GSDF is to control
urban sprawl and unnecessary
expansion. It encourages
the compaction of Johannesburg,
improved use of the city’s
rescources and the maintenance
of its structure and form.
Densification is a practical
means of assisting the
achievement of this objective,”
Finnemore adds.
Gautrain
The Gautrain is is another
element in the containment
of urban sprawl. Finnemore
points out that to achieve
the economic growth objectives
of the Gautrain project,
an increase in the densities
of existing suburbs adjacent
to the Gautrain route
is essential.
Re-Direction
“There is a need
to re-direct the urban
growth in Johannesburg
as the existing settlement
pattern is likely to become
problematic in the future.
The Gautrain project was
necessary as a catalyst
to trigger the new, denser
pattern of settlement
and it will also affect
the way that current and
new urban areas linked
to the rapid rail system
will develop,” says
Finnemore.
Older Northern
Suburbs
The older northern suburbs
of Johannesburg such as
Saxonwold, Melrose, Dunkeld
and Forest Town have been
consistently offering
quality residences and
secure lifestyles with
growth in value of homes
year on year, all factors
that are helping to attract
buyers from the far northern
suburbs.
Commuting and
Traffic
Finnemore adds that traffic
congestion and commuting
costs are playing an increasing
role in buyer decisions,
particularly among those
who now find commuting
time is in excess of two
hours. They seek to either
be closer to their place
of work or near to a Gautrain
station.
World Class Suburbs
“For people living
in Johannesburg and working
in Pretoria, the Gautrain
infrastructure, which
makes these older suburbs
truly world class and
comparable with the best
anywhere in the world,
is another underlying
factor that is creating
demand for these properties.”
For
further information
contact Rupert
Finnemore at Pam
Golding Properties
on +27 (0) 11
380 0000 or email
him here
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| INVESTING
IN CONSERVATION REAL ESTATE IN THE CAPE
PROVINCES |
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With
South Africa being the
third most biodiverse
country in the world after
Brazil and Indonesia,
it is internationally
recognised as having an
excellent nature conservation
history. The three Cape
provinces, namely the
Western Cape, Eastern
Cape and Northern Cape,
offer an incredibly diverse
range of properties that
have immense conservation
value, with many botanical
hotspots acknowledged
by leading international
conservation agencies
as priority conservation
areas, says Wayne Rubidge,
Pam Golding Properties
manager in the Karoo region.
Preserve Conservation
“With South Africa
now a signatory to all
international biodiversity
agreements, the race is
on to preserve the conservation
value of the country.
Investing in conservation
real estate is a growing
trend internationally
and here in South Africa
is set to take off, spurred
on by greater awareness
of our unique natural
splendour.
Escape the City
Further fuelling this
trend are modern lifestyle
and urban pressures, which
see city dwellers feel
the need to escape to
a natural environment
and experience life away
from busy, developed areas.
Most importantly, conservation
real estate investments
are proving to be a sound
and fulfilling investment,”
he says. |
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| Wetlands
are the jewels of
the Karoo and this
1700ha property,
which forms part
of a greater conservation
area, has abundant
fresh water, birdlife
and biodiversity.
The property is
priced at R11.2
million through
Pam Golding Properties. |
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Appetite vs. Awareness
The global appetite for minerals,
energy and increased development
will place even more pressure
on species and spaces –
a factor, which is being countered
by the growing awareness of
investors, landowners and the
public who are being pro-active
in working with Nature Conservation
authorities, corporates and
NGO’s.
Assist Conservation-Minded
Buyers
Pam Golding Properties has recognised
this growing trend and can now
assist conservation-minded buyers
identify conservation-worthy
properties or assist sellers
to find new custodians of these
valuable properties via the
Pam Golding Nature Portfolio.
Species Conservation
Species conservation is also
a growing trend among buyers
and some properties offer a
unique opportunity as do properties
that display archaeological
and paleontological importance,
such as those of the Karoo region,
and cultural significance as
witnessed with the conservation
of rock art in the Baviaanskloof
and Cederberg.
Baviaanskloof
A great conservation investment
in the Baviaanskloof - located
approximately 120km west of
Port Elizabeth between the Karoo
and the coast - is a large undeveloped
farm of 6359 hectares bordering
onto the Nature Reserve and
World Heritage site. The property
has numerous fountains and little
infrastructure and being one
of the last properties of its
kind, offers enormous conservation
value due to its strategic location.
The price for this exceptional
piece of land filled with the
abundance of nature and some
free roaming game is on the
market for R9.6 million.
Invaluable Property
In the mountainous region of
the Great Karoo is one of its
best conserved wetlands with
ample fresh water from the mountains
and a rich bird and plant life.
An opportunity exists to secure
in perpetuity this invaluable
property, which forms part of
an exciting conservation project
for the re-introduction of species
such as hippopotamus and serval.
With no buildings, the property
is 1700 ha in extent, of which
350 hectares comprise wetlands.
It is priced at R11.2 million.
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Baviaanskloof is
a World Heritage
Site and is a rugged
wilderness area
with beautiful scenery,
particularly along
the main rivers
which run through
the kloof. Set on
1732ha this small
farm is ideal for
a botanical retreat
and has fascinating
geological formations
located in a very
private, secluded
area. The property
is priced at R3.95
million through
Pam Golding Properties. |
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Tankwa Karoo
In the large semi-desert spaces
of the Tankwa Karoo near its
flagship National Park on the
southern boundary of the Northern
Cape is 21 500 hectares of magnificent
unspoilt Karoo landscape filled
with all manner of exotic desert
life. The opportunity of owning
such a vast uncomplicated conservation
space where the rainfall seldom
exceeds 250mm is for the intrepid
investor. This opportunity is
on the market for R10.5 million.
Zuurberg Mountains “Free
Air”
In the Eastern Cape’s
Zuurberg Mountains close to
the Addo National Park is a
small 578 hectare undeveloped
property called Free Air. The
property is located in a secluded
valley and has incredible indigenous
afromontane forests with ancient
yellowwood, milkwood, cape chestnut,
shepherd’s tree, sneezewood,
wild olive, karoo boer bean,
spekboom and other special trees.
The property has never been
farmed and is available to a
conservation-minded buyer for
R4.5 million.
Klein Karoo’s
Mountainous Area
In the Little or Klein Karoo’s
mountainous area to the south
of the Great Karoo is a 1732ha
gem that has not been farmed
for many years and has exceptional
value due to the condition of
the vegetation. Located in a
secluded area the topography
is varied with interesting geological
formations. This unique property
is on the market for R3.95 million
and includes a rustic getaway
cottage.
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| INFRASTRUCTURAL
DEVELOPMENTS IN SAXONWOLD, ROSEBANK IMPACT
POSITIVELY ON HOME VALUES IN 'THE PARKS' |
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| Four-bedroom
home located in
a cluster development
in a golf estate
in Parkview is R6.35-million,
demonstrating the
value being maintained
in 'The Parks' area. |
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Homes
in key suburbs such as
Parkview, Parkwood and
Parktown North, collectively
referred to as 'The Parks',
are holding their value
extremely well with infrastructural
and growth developments
in the nearby Rosebank
and Saxonwold areas providing
positive spin-offs for
these suburbs.
Demand
Jonathan Davies, manager
of the Pam Golding Properties
(PGP) Hyde Park Branch,
confirms that the demand
for residential properties
in The Parks is buoyant
for a number of reasons,
not the least of which
is the fact that during
the economic downturn
house prices sustained
value far better than
many other areas.
Recent Survey
Results
This view is supported
by a recent survey on
house price recovery conducted
by property analyst Lightstone
in which it was found
that within the top 15
'wealthy segment' suburbs
in Cape Town, Durban,
Johannesburg and Pretoria,
7 were in Johannesburg.
Of those, Parkhurst was
ranked number 1st, Parkview
third, Parkmore 6th, Parktown
North 7th and Parkwood
8th. |
Average Increase in
Value
The survey established
that the top 15 suburbs achieved
an average actual increase in
value of 10.4 % from January
2009 to June 2010. Davies confirms
that this trend continues to
be generally sustained in The
Parks.
Emerging Trends
In the Saxonwold area, an emerging
trend reveals that families
in the far northern suburbs
of Johannesburg are moving to
the 'inner north'. Davies says
the rationale behind this is
often related to travel and
traffic problems.
Back in Fashion
“Another reason is that
families are tending to entertain
at home, and coupled with this
we note that tennis courts are
coming back into fashion among
home owners. In line with these
trends older properties with
larger stands and established
gardens are catering for this
need as well as ultimately offering
a good return on investment.”
Gautrain Appeal
Davies says housing demand in
The Parks area has been boosted
by positive developments such
as the Gautrain. “A number
of sellers are seeing added
value as a result of the Gautrain,
coupled with the fact that it
has high appeal for those who
commute to places of work, especially
younger people.
Negative Impact
“Aligned to this is the
negative impact of the proposed
highway tolls and rising cost
of travel in regard to private
vehicle use. These are key factors
driving increasing enquiries
from those living outside the
Johannesburg boundaries, who
are now seeking properties closer
to their place of work,”
he adds.
Balanced Portfolio
Schenk points out that
with property, people always
need houses in which to live,
whether owned or rented, and
generally a property downturn
is more likely to be absorbed
than a stock market plunge.
Often, however, equities and
property are non-correlated,
hence the added case for investors
to have a balanced portfolio
across asset classes.
Golden
Mile
The strategic positioning
of the 'Golden Mile' through
Saxonwold and Rosebank
right in the middle of
Sandton and Johannesburg
is also attracting buyer
interest in The Parks.
“The area is experiencing
interest from younger
families who find the
close proximity to long-established
leading schools a major
advantage,” says
Davies.
Positive
Catalyst
A further positive catalyst
for The Parks area is
the new Standard Bank
corporate headquarters
building under construction
on the Golden Mile in
Rosebank. It has five
basement levels and 11
storeys above ground and
is scheduled for completion
in 2013.
Draw
Card
Davies says PGP expects
the Standard Bank office
development to draw into
the area a number of potential
executive home buyers
wanting the convenience
of being close to work,
thereby eliminating costly
and time-consuming highway
travel and enjoying the
benefit of the Gautrain
close at hand for travel
to OR Tambo International
Airport.
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Commercial Impact
“There is much general
infrastructural development
taking place in terms of upgrading
of roads and the refurbishment
of the Rosebank Mall, which
will have a direct feed into
the Gautrain, while the commercial
impact of the station is likely
to be another positive for the
area,” he adds.
Spin-Off’s
Other development projects in
the area have been approved
and are expected to provide
further spin-offs for the residential
property market in The Parks.
World Public Transport
Trends
“Experience elsewhere
in the world reveals that property
prices tend to increase when
public transport facilities
are introduced to an area, and
the road upgrades will also
contribute to smoother traffic
flow in general through the
area,” says Davies.
Pricing
in The Parks
PGP agents in the area
confirm that prices of
homes currently coming
onto the market in The
Parks fall mainly into
the R2.5 million to R3.5
million bracket with a
number of buyers looking
for homes in this price
range, while at the top
end of the market the
prices of some properties
in Parkwood can extend
beyond R5 million. |
Bond Application Factors
Agents also point out that potential
buyers need to be aware that
the banks in general are giving
bond applications serious consideration,
with key factors taken into
account being the bond applicant’s
earnings, risk profile and monthly
costs. A number of transactions
have recently been concluded
with buyers purchasing with
cash or able to provide a significant
cash deposit in order to secure
a bond at a lower repayment
level.
Sound Growth
Davies says the well-established
northern suburbs of Johannesburg,
such as The Parks, tend to achieve
sound year on year growth in
value. This is mainly due to
the strong demand for homes
conveniently located near top
schools with history and tradition,
close to the workplace and easily
access to shopping and other
facilities.
Key Suburbs
“These factors underpin
the inherent strength of the
key suburbs,” he concludes.
“They have positively
impacted on the residential
property markets in these areas
over many years and will prevail
into the future.” |
For
further information contact
Jonathan Davies at Pam Golding
Properties on +27 (00 11 380
0000 or email
him here |
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Back to Top |
| APARTMENT
WITH DIRECT BEACH ACCESS FOR SALE ON CLIFTON
SECOND |
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| Three-bedroomed
apartment in the sought-after
“Cliffrock” building
overlooks Clifton’s famous
Second Beach, and has direct
beach access via a private elevator
and is priced at R25.5 million |
A spacious apartment offering
direct beach access has come onto
the market on Cape Town’s Clifton
Second Beach. The home in the sought-after
“Cliffrock” building offers
over 300m2 of living space, including
three generous bedrooms and two bathrooms,
plus extensive living areas flowing
out onto an undercover entertainment
patio.
Price
Marketed exclusively by Pam Golding
Properties, the apartment is priced
at R25.5 million.
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Distinctive
Features
PGP’s area manager for
the Atlantic Seaboard and City
Bowl, Basil Moraitis, says the
home has a number of distinctive
features which are highly unusual
even for top-end luxury apartments:
“This is the only unit
currently for sale in the area,
which offers direct access to
Second Beach,” he says,
“in this case via a private
elevator, which delivers one
straight onto the world-famous
white sands.
Significant Feature
Another significant feature
is the generous parking allocation
– two basement parking
bays and two rooftop bays –
which is almost unheard of in
a suburb where some buyers pay
millions for a single parking
space.
Staff Accommodation
Also unusual for the Clifton
area is the staff accommodation,
allowing for live-in staff.
The apartment block has a communal
swimming pool and sauna, but
this particular unit also has
its own private jet-stream pool
located on the patio, ideal
for relaxing and enjoying sunset
views over the ocean and the
Twelve Apostles.” |
Blank
Canvas
PGP’s MD for the Western
Cape metro region, Laurie Wener,
says the apartment presents
a prime opportunity to create
a customised luxury residence.
“This apartment is something
of a blank canvas, ideal for
those who wish to put their
own personal stamp on the unit
and decorate to their individual
taste,” she says.
Outstanding Position
“There is so much potential
to develop this space into a
designer home, making the most
of the outstanding position
on the water’s edge and
the generous living spaces.
Highly Exclusive
This is a very exclusive apartment
building even by Clifton’s
luxury standards, so it would
be difficult to over-capitalise
on such a trophy property.”
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To
view the apartment, contact
PGP’s area manager Basil
Moraitis on +27 (0) 82
565 8481 or phone agent Annette
Hepburn on
+27 (0) 82 658 1116. They
can also be reached at the
Atlantic Prestige office on
+27 (0) 21 439 1614 |
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| Monterey, 12-14 Klaassens Road, Bishopscourt,
Cape Town, 7708, South Africa |
Archives:
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'11 | May
'11 | |
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