Property News


Atlantic Seaboard and City Bowl sectional title sales show significant turn up
Sep 26, 2014
Activity in the sectional title sector of the Atlantic Seaboard, CBD and City Bowl property market continues to strengthen significantly on the back of strong buyer demand for Cape Town's sought-after cosmopolitan seaside lifestyle according to Ian Slot, Seeff's managing director for the areas. Moving from a position of an oversupply of properties for sale following the 2007/8 down-turn and conditions overwhelmingly favouring buyers, we are now demonstrably in a sellers' market, he says.
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View from the top, Cape Town penthouses still tops the demand and price stakes
Sep 26, 2014
When it comes to chic city living, few properties can compare to a penthouse, says Ian Slot, managing director for Seeff's Atlantic Seaboard and City Bowl operations. While Sandton now also boasts a few of these exclusive residences, the Michelangelo Towers and Regency for example, with price tags of up to R65 million, Cape Town is still home to the continent's most sought-after and valuable penthouses. The most expensive of these are at V&A Waterfront and have sold for up to R32 million, R55,5 million and just over R110 million, all sold by Seeff.
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Iconic fisherman-style holiday homes a draw-card for unspoilt Jacobsbaai, West Coast
Sep 26, 2014
Located about 90-minutes' drive from Cape Town and midway between Vredenburg and Saldanha Bay, the hamlet of Jacobsbaai (also known as Jacobs Bay) has retained much of its traditional West Coast village influence and is still somewhat of a hidden gem for weekend and holiday home buyers according to Seeff agent, Elma Steyn.
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Rare and spectacular wine farm on the market in the Prince Albert Valley for R94 million
Sep 26, 2014
An exceptionally rare and spectacular wine farm, Bergwater Winery, situated in the exquisite Prince Albert Valley, about 20kms from the village of Prince Albert, is on the market. Totalling 1,500ha, the property actually comprises of three farms that can be sold separately or as a single unit for R94million, say Seeff agentsSettie Uysand Yolande Singery.
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Unchanged rate welcomed as housing market continues to trend upwards
Sep 18, 2014
Today's decision by the Reserve Bank's Monetary Policy Committee to keep the repo rate unchanged at 5,75% (9,25% mortgage loan rate) is welcome news as the housing market continues its upward trend, says Seeff chairman, Samuel Seeff. For the first time since the 2007/8 down-turn, sales activity is showing real upward movement, not only in the primary urban sectors, but also in the secondary coastal markets.
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Younger families now drawn to the Karoo for quality life and cost savings
Sep 8, 2014
While people continue flocking to the urban areas for better economic prospects, Seeff's Cape Country managing director, Ian Badenhorst says that as much as 20-40% of buyers in the quaint Karoo towns are now families under the age of 45. These buyers are increasingly leaving the big cities behind in search of a better quality life and cost savings. Current hot spots include Ladismith, Prince Albert, Barrydale and De Rust.
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Somerset West sellers urged to act while the going is good
Sep 8, 2014
As with most of the high demand urban areas across the country, Somerset West agents are also reporting severe stock shortages on the back of strong demand for homes in the village according to Seeff's manager for the area, Loretta Diab. After a lengthy period of subdued demand, she says that finally the market has picked up, but now we just do not have the stock to meet the buyer demand.
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Cape Town still the sweet spot for super wealthy buyers
Sep 8, 2014
When it comes to super wealthy buyers spending upwards of R20 million for a property, Cape Town is by far still the sweetest spot in the country according to Seeff chairman, Samuel Seeff. Speaking at a media event during the last week, Seeff said that while buying at the top end of the market is still highly selective, these buyers are nonetheless still spending well into the upper millions for the right property in the right location.
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Southern Suburbs homes now selling in record time
Sep 8, 2014
Agents in the Southern Suburbs report that properties are now selling in record time, anything from the day of listing to well within a month and, often for the full asking price or very close to it. Buyers are staking their claims with newly listed homes selling so fast that most never even make it to website listings, let alone to a Sunday show house, says Andy Todd, Seeff's managing director for the area.
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Professionals, family buyers home in on Durbanville, pay record prices
Sep 8, 2014
Professionals and family buyers especially are heading to Durbanville and are prepared to pay record prices for homes here according to Seeff's principal for the area, Joe van Rooyen. On the back of a significantly better mood in the market, he says that the average price has increased year-on-year by 10% to R1,7 million. Amidst this, Seeff recently clinched three record sales of up to R5,5 million in Durbanville Hills and a record rental of R30,000 per month in Eversdal Heights.
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