Estate living is the fastest-growing luxury property trend in South Africa, and it is not uncommon for estates to achieve higher average selling prices compared to their surrounding neighbourhoods, says the Seeff Property Group.
Luxury buyers continue migrating to luxury gated estates, driving property values ever higher, said Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl.
In the Cape, three of the top five neighbourhoods are gated estates which clocked up growth of 16% to 25% over five years. That is four to five times faster than the national average house price and CPI growth in 2017 to 2021. National growth for 2021 averaged just 4.6% according to Lightstone. Estates have been among the best performing neighbourhoods with average price growth of up to 25% over the last five years. The latest Financial Mail Top Suburbs Survey also listed a number of luxury estates among their choice of best growth neighbourhoods over a one, three and five-year period.
Cape estates also tend to achieve the highest rental rates. Seeff for example concluded a rental of R390,000 per month , in a joint-deal in Val de Vie estates over the last year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Djokovic to speak about Australian Open controversy in '7 to 10 days'The world number one's visa was cancelled last month ahead of the season-opening Grand Slam over his COVID-19 vaccination status.
Read more »
SA’s 10-yearly census kicks off — here’s how to get countedThe census is the fourth population count in post-apartheid SA.
Read more »
Brandy remembers Whitney Houston 10 years after her death – 'We needed someone to blame' | ChannelFebruary marks 10 years since the death of legendary singer Whitney Houston. And while a decade has passed, the world still mourns.
Read more »
Competition body wants WesBank, TFS and FirstRand fined 10% of turnover‘WesBank and TFS entered into an agreement to divide markets by allocating customers or suppliers in the market for the provision of vehicle finance’
Read more »
Pay Mpontshana his 10%, says MtshotshisaBSA handles payments for fighters but it is unclear why Mpontshana has not been paid.
Read more »
Zeilinga out as Lions pick new No 10 for trip to LoftusThe Lions will be going all out to perform far better than they did when the teams met at Ellis Park last weekend.
Read more »