Somerset West now among Cape luxury hotspots, spectacular trophy home on the market
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Somerset West is fast becoming the next luxury destination for high end buyers looking for a country lifestyle with big city benefits. It now counts among the areas where you will find luxury homes in the R20 million range, says Dinis Martins Seeff’s licensee for the area.
For those looking for more of a country vibe, it is the ideal location. The area’s status as a fast hotspot was highlighted in a recent Wesgro property report. Mr Martins says that the steady rise in wealth in the winelands has boosted the demand for more exclusive homes. These are generally located in the high end security estates such as Boskloof Eco Estate, Bel'Aire , Erinvale Golf Estate and suburbs such as La Sandra, La Condorde, Parel Vallei and Spanish Farm.
Somerset West has long been popular with wealthy older buyers looking to relocate from upcountry as well as many German buyers who invest in second homes or relocate to the country for retirement. Increasingly though, we are seeing younger families migrate for the excellent quality lifestyle, he says.
The latest Lightstone demographic data shows that Somerset West is a stable market with 40% of homeowners living in their homes for 11 years and longer. There is, however, a clear demographic shift underway. Where 70% of current owners are above the 50-year age group, 57% of new buyers are under fifty, 25% of which are under 35-years, generally families.
There are several top quality private schools in the area such as Somerset House and Somerset College as well as being a 10-minute drive from Stellenbosch University. Homes located in these suburbs and particularly within close proximity to these in-demand and prestigious schools are highly sought-after with families relocating from upcountry areas and those moving in and around Somerset West.
Just over 30% of property are in secure estates and a further 44% are freehold with the balance being sectional title. Despite a challenging climate, some R3bn in transactions took place for the 2019 year. While price growth has levelled over the last two years, average prices are now 48% higher compared to five years ago and 67% up over ten years.
Trophy homes on the market include a spectacular 750sqm home in the prestigious suburb of Parel Vallei with unsurpassed views of the surrounding Helderberg Mountains. It is set on 3198sqm of land with a borehole and sophisticated filtration system which supplies all of the house’s water requirements as well as the automated garden irrigation. The security system is state of the art and fully integrating into mobile devices so that you can have comfort no matter where you are in the world.
The home offers space and scale. It opens to a double volume entrance with two sweeping staircases leading to the upper level. The lower level living areas are spacious with fold-back glass doors which opens to the pool deck, separate outside braai and dining area and heated swimming pool. The bar and wine cellar houses more than 400 bottles to delight any avid wine collector. There is a Paul Bocuse stove in the kitchen which has a separate scullery and laundry as well as two additional storage rooms.
There is also a guest suite on the lower level. Upstairs are three large bedrooms, each with a walk-in dressing room and balcony. The main suite features his and hers dressing rooms. There is also a study/home office and versatile family room with a large patio and exquisite mountain views.
Three garages separate the house from an additional self-contained guest cottage with own private entrance and olive garden.
Somerset West offers a cosmopolitan lifestyle with all the amenities that you would need including an excellent regional shopping centre (Somerset Mall). It is just ten minutes from Stellenbosch and home to spectacular wine farms such as Lourensford and Vergelegen. Mr Martins says the close proximity to the Cape Town International Airport and city is a big plus-factor for upper end buyers.
Photograph enclosed: This spectacular 750sqm trophy home in Somerset West is on the market for R18.995m
Author: Gina Meintjes