Boschenmeer Golf Estate tops 46% price growth
Category News
The beautiful Boschenmeer Golf Estate does not just deliver a quality lifestyle, but also excellent capital growth and rental returns for investors over the past few years, says Pierre Germishuys, MD for Seeff Winelands/Boland.
Speaking at the recent opening of Seeff’s new Boschenmeer office, Germishuys presented the latest market statistics for the three top estates in the Paarl Valley, being Boschenmeer, Pearl Valley and Val de Vie.
The average selling prices for Boschenmeer is up by an average of 46% in under five years, he said. That means that the full title price now stands at R4.1 million (vs R2.8m in 2012) and the sectional title price at R2.1m (vs R1.3m in 2012). Comparatively, Pearl Valley prices have remained flat, rising by only 2% to R4.85m. Val de Vie is still too new for a five-year data comparison.
Germishuys attributes the excellent growth to additional demand from semigrating buyers from upcountry as well as foreign interest in securing a summer home in an estate. The desire for a luxury winelands golf estate lifestyle now ranks high on the buyer motivation scale.
Boschenmeer is the largest of the three estates and offers a mix of property including townhouses, country and estate homes. It has been the most active in terms of resales with some 61% churn over the past five years compared to 38% for Pearl Valley.
Despite the excellent growth, the estate still offers excellent value and boasts an average selling price of R3.85m compared to R5.05m for Pearl Valley and R3.75m for Val de Vie. It however, boasts the highest average monthly household income at R135 000 compared to R90 000-R115 000 for the other two estates.
Buyers tend to be more mature, generally above the 36-year old age bracket which accounts for over 70% of all sales. Up to 30% of the homes are foreign owned and all of these estates are popular for rental investments.
The location in Paarl also means that the estates are suitable for commuter buyers too. Lee-Anne Saunders and Tammy Rose, Seeff’s Boschenmeer agents say that the scenic location, vistas and fabulous grounds including a tranquil riverside setting along with a top class golf course and club house, all add to the attraction. Buyers are quite happy to pay for a home here, because they get so much more than just bricks and mortar, they get a fabulous lifestyle.
Even if you are not into golf, it is still a lifestyle without compare. Living in a secure estate such as Boschenmeer means that you can move around freely and families tend to prefer this type of lifestyle.
Prices in the estates start at just R1.85m for a townhouse, but Seeff recently sold a unit for R2.025m. Country homes range from R3.5m-R4m and single residential homes from around R6m-R9m, all depending on the finishes, plot size and location within the estate.
Annie Kellerman, Seeff’s rental agent at the estate says that it is popular for rentals and the average rate has increased steadily from R20 000/month in 2014 to R25 000/month. Unfurnished sectional titles range from R10 000/month, country homes from R15 000/month and estate homes from R19 000/month. Furnished cost around 20%-40% more and top rental rate is R35 000/month.
Kevin Layden and Esme Wildman, Seeff Franschhoek agents say that Pearl Valley currently ranks as the most expensive of the three estates with an entry level price of R6.3m and a highest price of R22.5m. The average rental rate is R32 000/month ranging to a high of R60 000/month.
The estate boasts a Jack Nicklaus championship golf course with a clubhouse and facilities such as a Pro-shop, gymnasium, spa and sauna. Other facilities include swimming pools, a golf academy, floodlit tennis courts, equestrian centre and a mountain-biking track. There is also a Mantis Hotel.
The majority of recent buyers are semigrating from up north and about 35% of properties are owned by foreigners. Many of the properties are rental investments.
Contact Seeff Boschenmeer on 021 863 0099 and Seeff Franschhoek/Pearl Valley on 021 876 4592.
Author: Seeff
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