The State of the Kyalami Property Market

The State of the Kyalami Property Market

Category Property Markets

The State of the Kyalami Property Market: a 12 Month Snapshot

Residents of Kyalami are well aware of the numerous amenities available to enjoy in the area. Nearby shopping malls, great restaurants at Kyalami Corner, excellent schools and medical facilities are a few to mention. But it's really the open-air feel, and the impression of living in the country while retaining the convenience of a modern lifestyle that has drawn buyers to the area over the last 12 months, says our agent Nicole Gasser.

Kyalami Estate remains a popular choice for buyers with families. The appeal of gated community living, and of buying in an estate that has retained excellent value over the decades makes it a top pick in the Kyalami surrounds, according to Nicole. The vast majority of recent buyers are aged 36 to 49, which makes sense in families with school-going children, as several excellent schools (including the American International School) are a short drive from Kyalami.

53% of homeowners in Kyalami Estate have been in their homes for 11 years or more. This is a testament to the enviable lifestyle. In fact, 60% of recent sellers had been in their homes for 11 years or more ... and parting with their homes was likely bittersweet for sellers handing over the keys to a new family.

Over the last 12 months, 80 homes have sold in Kyalami Estate at an average price of R4,1 million. Only three properties sold under the R3 million price bracket. It is interesting to note that Standard Bank was the lender of choice in Kyalami Estate. Standard Bank bond grants (home loans) in Kyalami Estate over the last 12 months superseded their competitors grants by double.

Not to be outshined, Kyalami Glen, with its 396 homes nestled in the estate between Pitts Avenue and Allandale Road, is also a popular choice for buyers looking to live in a security estate.

Twenty homes sold in Kyalami Glen in the last 12 months. Nine of those homes were priced under R3 million, and 11 were priced over R3 million. With an average price of R3,3 million, Kyalami Glen has Kyalami Estate beat by almost R1 million on all-round price. The properties that sold under R3 million averaged out at R2,4 million, while those above R3 million averaged just shy of R4 million.

The Kyalami Hills area of the Kyalami surrounds comprises mostly sectional title apartments. There are 1 407 registered sectional title homes in Kyalami Hills. There are also 513 cluster homes (cluster homes are freestanding properties in an enclosed estate - they tend to have a cohesive architectural style throughout and are subject to the rules of an HOA, not a Body Corporate). Eleven freehold houses are also grouped into the municipal suburb boundaries of Kyalami Hills.

According to our property data partner Lightstone, there were 44 cluster homes sold in Kyalami Hills over the last 12 months. At an average sales price of R2,1 million, the majority of the cluster-style properties that were sold, sold in the R1,5 million to R3 million bracket.

One hundred thirty-two sectional title sales at a total of R186 million were sold in Kyalami Hills over the last 12 months, most of them (86) in the R800 000 to R1,5 million price range.

As the equestrian community grows and the appeal of country living reaches further and further, pulling buyers from the city suburbs, there were consistent sales in the agricultural holdings suburbs. In Kyalami AH, 13 homes on large tracts of land were sold in the last 12 months. Ten of them sold at an average price of R5,5 million.

As always, Seeff is here to assist you with your property requirements. Please reach out to Nicole Gasser,  our award-winning sales agent for the Kyalami surrounds.

Author: 10764