Cape Town CBD sectional titles tick all boxes for investment and living
Since 2013, the demand for sectional title units in Cape Town’s central city has increased exponentially, with a corresponding increase in property values that shows no signs of abating.At a recent Cape Town City Improvement District (CCID) business breakfast, it was announced that the nominal value of all property in the CBD is close to R31 billion, and about R12 billion worth of property is currently under construction, including commercial and residential space.
In 2011/12, the total value of property in the CBD was R21.5 billion and this increased to R23.7 billion in 2014/15, which translates into a solid 10.2% increase.
“There are 57 residential complexes in the central city, an area bounded by the harbour and Nelson Mandela Boulevard, Buitengracht, Buitensingel and Canterbury Street. During 2016, 228 units were sold here for a total of R533 million,” says Brendan Miller, principal for the City Bowl and Atlantic seaboard at Lew Geffen Sotheby’s International Realty, who was citing the CCID’s latest research figures.
Top 10 residential estates in South Africa for 2017
AfrAsia Bank and New World Wealth have just released this year's review of the top 10 residential estates in South Africa.
Ratings criteria included:
- Design and space.
- Communal gardens and parks.
- Security features.
- Views, scenery and wildlife.
- Activities: gym, swimming pool, golf, horse riding, polo, tennis.
- Facilities: shops, offices, parks, gathering places, children playgrounds, schools, hospitals.
Green features that home buyers look for
With the burning issue of global warming and the impact of our carbon footprint an ever-growing concern, more and more home buyers are looking for properties that offer green elements according to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who says in countries such as the US, the trend of buying green has been around for some time, but over the last decade it has gained momentum in South Africa and continues to grow.
He says apart from the fact that more people are becoming aware of their impact on the environment, the increasing cost of utilities has also prompted many people to seek out methods of reducing their energy consumption.
Eight questions to ask yourself before buying fixer-upper property
Stumbling upon a diamond in the rough and transforming it into a show house is a common fantasy, especially among DIY enthusiasts and people who love older character homes - but there can be a stark contrast between the dream and the reality if you don’t have a clear understanding of what lies ahead and what can go wrong.
“There is no doubt that successfully completing a renovation project is an incredibly rewarding experience, but the success of the project depends on several crucial factors, most of which begin and end with you, the investor and property owner,” says Sandy Geffen, executive director of Lew Geffen Sotheby’s International Realty in South Africa.
If you are considering buying your first fixer-upper, she advises that you begin your research with some candid self-analysis to determine whether it’s the right thing for you, and if it’s right for you right now.
Are your solar panels a fire risk?
Over the past 20 years, more and more homeowners have turned to solar power to heat up water and provide light and warmth in their homes. It is also becoming increasingly popular in sectional title complexes and estates as owners seek to reduce energy costs and to become less dependent on municipal power supplies.
“Solar is much cheaper than running generators, for example, and also much ‘greener’, but homeowners and trustees should focus on the long-term savings and not try to cut costs too much when getting solar geysers, panels and storage batteries installed,” says Gerhard Kotzé, MD of the RealNet estate agency group.
“It is very important to use knowledgeable and qualified installers who will make use of good quality materials and adhere to all the necessary safety codes because, like it or not, solar systems can be a fire risk if they are incorrectly set up and not properly maintained.”