High demand for Cape Town northern suburbs security estates, Welgedacht property value growth tops i

High demand for Cape Town northern suburbs security estates, Welgedacht property value growth tops i

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There is now strong demand for security estate homes in Cape Town’s northern suburbs. So much so that buyers are prepared to pay well into the upper millions for a home in Welgedacht Estate in Bellville and with good reason, says Fanie Marais, Seeff’s licensee for the estate. Property values are up by almost 60% in just five years and year-on-year by almost 20%, outstripping inflation four-fold and significantly higher than the 2015 economic growth rate of just 1.3%. Out of the last ten property transactions recorded by Lightstone, more than half were above the R5M price band and homes are now easily priced to around the R6.75M to R10.95M range according to Marais. The homes on offer though are of superb quality, often very spacious with three to four bedrooms, luxury finishes, stunning gardens and fabulous views, says Marais. Where most areas across the metro have seen a dip in sales volumes and a flattening of prices since 2014, Welgedacht has recorded year-on-year growth. Against economic growth of 3.1%-1.3% for the 2010 to 2015 period, Welgedacht property has recorded phenomenal growth, says Marais. In 2010, the freehold house price was for example just R3.75M. Today, it is almost 60% higher at just under R6M. If you are still wondering whether Welgedacht is a good investment, consider this, says Marais. Three years ago, the average sales price was R4.75M. By 2014, it had climbed to R5.015M and by 2015, it reached just under R6M. This translates to growth of R1.25M (26%) since 2013 and year-on-year from 2014 to 2015 of 20% or almost R1M. The latter being at a rate that outstrips the 2015 CPI rate of 4.51% by more than four times. Homes are not just getting bigger in the estate, but the rate paid per square metre is also climbing. In 2013 for example, the average house size was 375sqm and it sold for R13,575/sqm on average. By 2015, it had risen to 401sqm and was selling at 12% higher at R15,143/sqm on average. There are indeed very few areas that can compare with this according to Marais. Homeowners can now easily renovate their homes without risking over-capitalising. Just recently, a property sold for R11M within a day of listing it, he says. It is not uncommon to now find luxury homes, sized upwards of 500sqm. Although security is still the biggest selling point, buyers are also drawn to the large plots of 1000-1500sqm that tend to be on average bigger than those of other security and lifestyle estates in the area. The well planned layout of the estate, with ample open areas, dams, trails and beautiful vistas over the valley and Boland Mountains are further attractions for buyers, as is the convenient location and access to main arterials and top class infrastructure. Welgedacht now also serves as a value-for-money alternative to the Southern Suburbs, offering much better value per square meter without the traffic gridlock, says Marais. It is only a 25-minute off-peak drive to the CBD and only 7 minutes from the Tyger Valley Centre. Imagine staying against the slopes of the Tygerberg Nature Reserve in a top class, 24-hour manned security estate. Your home is built on a plot of at least 1000sqm with a beautiful garden and views over the Boland Mountains and Valleys while you can see your children playing safely in one of many parks in the estate. Nearby, you can tee off at the immaculate Bellville Golf Club. Welgedacht is ideal for families with access to excellent schools, sporting facilities, mountain biking and hiking trail, says Marais. Church goers can choose to join their denomination in close proximity of the estate too. If it is entertainment you seek, there are a myriad of restaurants, wine farms, cinemas, theatres, markets and local events to choose from. The estate is well established and managed by well qualified trustees and, it carries excellent prestige for buyers. Welgedacht has managed to capture the idealistic Cape Town lifestyle, yet, it has also proven to be one of the best investment in bricks and mortar. Contact Seeff Welgedacht, Fanie Marais on 021 913 4662/079 149 9065, email: fanie.marais@seeff.com or visit www.seeff.com.

Author: Seeff