PROPERTY
360
Development Issue
FRESH DESIGNS FOR NEW HOMES
2 3
A P R I L
2 0 2 1
1
2
2 3
A P R I L
2 0 2 1
Developers will often allow buyers to choose their own internal colour schemes, finishes and fittings – an advantage of opting for a newly built property.
T
HE IDEA of moving into a brand-new home and being the first people to live in it is exciting. It represents a blank canvas on which to build memories and a clean slate to decorate as you please. Everything within the property is brand new, including fixtures, fittings and all the electrical connections. Who would not love an opportunity to buy a new property? And, given a choice between such a home and an existing one, why would anyone really choose the latter? Actually, say the experts, there are some buyers who would, although many do prefer the idea of a new home. “The right home is the one that works best for you,” says Gus van der Spek, chief executive of Aview Properties. “It depends where you are in your life stage and what you are after.”
NEW VS OLD: PROS AND CONS If you opt for a new build, you will be rewarded with modern features, more amenities, a greater resale value and flexible financing, he notes. Also, you will not need a deposit, says Andre van der Merwe, principal of the Chas Everitt franchise on the East Rand. In most cases no bond or transfer fees are needed either. “The major reason for choosing a new build is that the property is brand new with little maintenance required.” David Sedgwick, managing director of Horizon Capital Residential, says new home advantages include being able to personalise it with your own finishes. “There is also the feeling of ‘new’ and
New builds versus old builds
Many opt to be the first to live in a property as there are advantages, including no transfer duty and less maintenance needed but you often get more space with established properties BONNY FOURIE bronwyn.fourie@inl.co.za being the first person to live in it. New properties include a five-year latent defects liability, and as newer buildings are more energy efficient, monthly operating costs are generally lower.” Paul Upton, head of developments at Dogon, points out that developers will often be open to allowing buyers to select their own internal colour scheme and choice of finishes, provided they commit to these prior to installation. But there are disadvantages too. New homes take time to build and you should expect delays, Sedgwick says. There might also be a difference in your expectations and the reality of the end product. And new builds are sold at a premium price compared to existing properties. “The advantages to older buildings are that they usually have a larger square meterage than new developments. You can also physically see what you are buying.” Van der Merwe agrees: “Often a brandnew home comes at a premium in terms of both price and smaller size. But existing homes still have transfer duty payable and often may require a deposit.” In addition, existing homes can have hidden maintenance issues that are picked up only later on, Sedgewick says. Older buildings are also not as energy efficient as new ones, these properties might also need some updating or renovating and there will be a transfer duty cost. Older homes could have issues with design flow and, when fixing up or extending, it is often difficult to stay on budget, say Charl and Adel Louw, who head up the Chas Everitt Cape Town Northern Suburbs, City Bowl and Atlantic
Seaboard franchises. By buying a new build, though, Upton says you are saving on the “hassle-factor” and dreaded “unknown final price” of attending to alterations when customising an existing property. NEW VS NEW: HOW TO CHOOSE When choosing a new build, Van der Merwe says it is important to trust and know the developer and to be wary of new builds in locations which border on areas that may degenerate in the future. “You should also have a look at the developer’s previous developments to check that you’re happy with the quality of the finishes,” Sedgwick says. Other considerations are: • If the apartment is small, is there a communal space for residents to enjoy in the development? • Is there secure parking? • Is short-term letting allowed? • Is the building pet friendly? • Is it in a good location where you’ll get good capital growth? • How many apartments are in the building? Are there too many? If so, be aware that this makes for a very competitive market if you’re planning to let it. • Is the development purely for investors or are there owner-occupiers too? It is nice to have a balance. Van der Spek also says you must do your homework on the developer. “Look for a company with a reputable track record and good references. Also be sure to check for snags and put everything in writing.” A large component in deciding on a
new build is the team employed to deliver on your expectations, Upton adds. Van der Merwe says you should ensure you understand the agreement you signed and know when occupation will be available, and what the occupational rent will be if you move in before the property is registered in your name. “Know what the estimated levies and rates will be, if it is a sectional title property, and take these amounts into consideration for your affordability.” Upton says other important aspects of purchasing in a new development are understanding the product being offered, the orientation of the home, privacy issues and the specification of finishes down to the fine detail. For buyers of new homes in Cape Town, Charl Louw says good roof designs are vital because of the weather conditions. “Some types of roofs are prone to leaking. You cannot see damp in a new building, so buyers have to ensure that walls and foundations are properly sealed,” he says. Adel Louw adds: “Make sure you have some measure of guarantee for at least the first year to manage unforeseen maintenance issues.” FINAL CONSIDERATIONS If you have decided to buy a new property you should also think about additions, such as a swimming pool, fireplace or air conditioners at this stage, Upton says. “Additions like these are far easier to arrange prior to construction because the planning for services is simpler and more cost effective when compared to ‘retro fitting’ additions.”
2 3
A P R I L
2 0 2 1
Letter from the editor I FIND it really interesting how one year of a pandemic has shifted so much for us, including how our homes of the future (and in fact new ones being built right now) may look. One thing’s for sure, according to developers, new builds will now incorporate lessons from the pandemic. They will have areas to work from home and they will also be more petfriendly. These are some of the ways the nationwide lockdown and transformed lifestyles are dictating which property developments come to the fore with developers fast responding to changed demands. It is heartening also after a dire hard lockdown in which the construction and development industry – mass employers responsible for supporting millions of people and households – came to a jarring halt, to now see cranes out and developments going up. In Sea Point itself, I counted five new developments on a recent drive and I am sure there are more. Low interest rates have certainly whet the appetite for home ownership. With the rise in developments on the go, it is evident that residential developments won’t ever cease as they are fed by a constant number of new entrants into the market. I believe developers who offer a good product at a competitive price will continue to do well. All the best to those buying or considering buying new builds, we hope this magazine answers some of your questions, and tempts you with some of what is on offer nationally. Warm regards
Vivian Warby vivian.warby@inl.co.za
Property developers are taking notice of the demand for modern styling and open-plan living. PICTURE: KHIEM TRAN
Developers adjust designs for new world The lockdown has changed people’s relationship with their homes and they want more green space and places to work BY BONNY FOURIE bronwyn.fourie@inl.co.za
T
HE NEW home-living trends that have been established over the past year have become so strongly ingrained that developers are ensuring new properties cater to these demands. Space for additional family members and adult children, home offices and mixed-use facilities are developers’ priorities when adapting their new property offerings. And so too are pet-friendly homes. Since last year’s national lockdown, companies have been adopting a far more flexible policy with regard to when and where employees need to work and, as a result, says David Sedgwick, managing director of Horizon Capital Residential, people are exploring areas that offer more space, outdoor areas and a different pace of life to that in the city. There has also been a “big demand” for micro and small apartments in central Cape Town, the city bowl and the Atlantic seaboard. In terms of apartments, mixed-use developments which offer an array of services and facilities are in demand. “These range from a laundry service, parcel collection, work breakaway rooms and rooftop pools to entertainment facilities and gyms. “In the smaller apartments being launched, we are seeing facilities essential to one’s overall ability to live in a confined space.” Outside of the city, Sedgwick says security estates are “still very much in demand”. “I think medium-to-large-scale housing estates will continue to be in demand over the next decade, with more and more offering everything from schools to shops.” Safety is still buyers’ main
consideration, says Brad Morgan, new development manager at Rawson Developers. This means estates and apartment blocks with “great security” are very popular. “Peace of mind is key. Good lifestyle facilities are also important.” He adds: “A dedicated outdoor area is part of the design because, as South Africans, a braai outdoors comes naturally to us.” Paul Upton, head of developments for Dogon Group Properties, believes there will be demand for apartments and townhouses in “fairly central locations” that offer ease of commute plus access to amenities. “Designers have already begun a swing towards a work-from-home orientation, incorporating homeoffice facilities.” He forecasts a “strong demand” for homes with modern styling, openplan living and smaller and more manageable garden spaces. “Security is front of mind for most purchasers these days. And most folks are opting for all bedrooms to be en suite.” Pet-friendly developments are also becoming increasingly important. “We recognise the important role that pets have in people’s lives. This was particularly true during lockdown when many people only had their pets to keep them company. As long as there are rules so that one’s pets don’t cause a nuisance to other residents, I don’t see why they should not be allowed in developments.” Jorge Santoro, luxury development specialist in the Chas Everitt Sandton and Hyde Park branch, agrees: “The pandemic has boosted the number of buyers and tenants with pets, and being pet-friendly is a big selling
point, so new developments now often offer features like pet wash rooms and grooming parlours, as well as pet walking areas.” From the luxury perspective, he says, most buyers and tenants are looking for more space. The result is the trend towards compact apartments close to commercial hubs has reversed. “Consequently, we expect to see fewer micro-apartment developments in the cities and a move towards bigger units that provide enough space for working and studying from home.” There is still “very strong” demand for homes in secure complexes and estates, with an emphasis on larger townhouses and cluster homes that have space to accommodate permanent home offices or a classroom for home studies, as well as manageable gardens. “There is a definite move away from city centres to the suburbs and even to country areas.” Andre van der Merwe, principal of the Chas Everitt franchise on the East Rand, which is one of the busiest new development areas in the country, notes a large demand from first-time buyers who, thanks to record-low interest rates, are able to afford to purchase a property. Developers have catered to this market due to the demand primarily in the under R1 million price bracket. “Residential developments most in demand are under R1m sectional title units with three bedrooms and two bathrooms... It is anticipated that residential developments will spread to more remote urban areas due to remote working and in particular will need to accommodate a home office.” He says most new homeowners are
looking for modern, open-plan designs. Security remains a priority, coupled with facilities that include play parks for children and entertainment areas within the complex or estate. When it comes to resales, Charl and Adel Louw, who head up Chas Everitt’s Cape Town Northern Suburbs, City Bowl and Atlantic Seaboard franchises, say people are looking for upgraded or modern bathrooms and kitchens and additional space for older children. “Well-off parents are adding flats to their residences for separate, but nearby, accommodation for young adults. Young adults stay at home longer or move back from rented accommodation, especially if they were away at university or college and are now studying or working online.” Gus van der Spek, chief executive of Aview Properties, says the current mandate for homes is centred on comfort, care, ease of access and functionality. “Everyone is looking for a multi-functional space that can be used for entertaining, work and general living.” In the retirement home space, he says ease of access to amenities and facilities is key. Security and safety, convenience, as well as a home designed for leisure and comfort, are also priorities. “Lockdown changed things dramatically in many people’s lives. Suddenly they realised they were living in big houses with lots of bedrooms that are never used. These big homes became unmanageable and many people selling today are looking to simplify their lives and downscale into smaller, purpose-built structures that cater towards this next phase of their lives.”
DISCLAIMER: The publisher and editor of this magazine give no warranties, guarantees or assurances and make no representations regarding any goods or services advertised within this edition. Copyright ANA Publishing. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from ANA Publishing. The publishers are not responsible for any unsolicited material. Publisher Vasantha Angamuthu vasantha@africannewsagency.com Executive Editor Property Vivian Warby vivian.warby@inl.co.za Features Writer Property Bonny Fourie bronwyn.fourie@inl.co.za Design Kim Stone kim.stone@inl.co.za
3
4
2 3
A P R I L
2 0 2 1
Location is always the most important factor to consider when buying a home, regardless if it is new or existing.
Development dos and don’ts It is often wiser to buy a small property in a good area, than a bigger property in a declining neighbourhood BY BONNY FOURIE bronwyn.fourie@inl.co.za
Q: WHEN it comes to the time to sell our home, will we get a better price if we bought it new – and therefore the new buyers would be only the second owners – than if we sell a home that was not brand new when we bought it? A1: This entirely depends on the current state of the property market. In general, you are more likely to get a better price for a new home as the initial price included transfer and bond costs and these do not have to be recovered in the selling price but should be recovered in the selling price of a second-hand property, effectively either raising the cost to the purchaser (and reducing demand) or diminishing your profit if you do not add them. – Andre van der Merwe, principal of the Chas Everitt franchise on the East Rand A2: This aspect would very much depend upon the maintenance and care taken by the owner. Once the initial warranties have expired there is not a lot of difference, besides the age and condition of the appliances etc. – Paul Upton, head of developments for Dogon A3: This is not always the case. Many older homes have been renovated to a standard that makes them more desirable. It depends on the location, security, amenities and,
ultimately, the buyers’ preference. – Gus van der Spek, chief executive of Aview Properties Q: I live in an established residential area and a new development is being constructed nearby. What impact, if any, will this have on the value of properties in our area in the long run? In other words, will the new development affect the area negatively or positively? A1: In general, a new development increases the value of surrounding areas and property and hardly ever impacts areas negatively. – Andre van der Merwe, principal of the Chas Everitt franchise on the East Rand A2: It depends on the quality of the development. If it is a good one, it will have a positive influence on the whole area. – Charl and Adel Louw, Chas Everitt Cape Town Northern Suburbs, City Bowl and Atlantic Seaboard franchises A3: There is always an aspect of negativity surrounding new developments, given the necessity of ‘breaking a few eggs in order to make an omelette’. However, most often, once the dust has settled, new developments tend to enhance an area and have a positive effect on overall surrounding property values. – Paul Upton, head of developments for Dogon
A4: A new development can certainly increase the value of properties in your area but it could make your current home less desirable to future buyers. Be sure to do your homework here. Compare the size, amenities, features and security. If your home is bigger, with a bigger garden, for instance, then the buyer pool/ target audience might be different. Here you would appeal to older couples or couples with small families or looking to start a family. Identify your differentiator and market your home accordingly. – Gus van der Spek, chief executive of Aview Properties Q: We are looking at buying a home that is being built in a sectional title development. The development is great, and offers all the modern amenities and facilities we want, but the actual area/suburb is not great. We really want a new home but obviously do not want to lose money down the line when selling. Would you recommend we rather buy an established property in a better area or take our chances with this great new development in a not-sogreat area? A1: Location is the most important factor in property acquisition, so rather size down and purchase in a great location. It will always be the better choice. – Andre van der
Merwe, principal of the Chas Everitt franchise on the East Rand A2: Location is always the most important factor. – Charl and Adel Louw, Chas Everitt Cape Town Northern Suburbs, City Bowl and Atlantic Seaboard franchises A3: Weigh up the convenience and reliability offered by a new home versus the possible hassle of renovations required to upgrade the existing, older home. One factor to bear in mind is that the new development will likely attract other developers to similar projects in the surrounding area, thereby elevating the entire precinct – which will result in dramatic price increases. While this may take a little longer, most folks are looking longer term when purchasing a new home, so this aspect could offer the answer. – Paul Upton, head of developments for Dogon A4: If the area is up and coming, then I would encourage potential buyers to invest. However, if the area shows no signs of future improvement, and is lacking in infrastructure, safety and security, then it’s advisable to scale down and look in an established or up-and-coming area to ensure future returns. – Gus van der Spek, chief executive of Aview Properties
2 3
D E V E L O P M E N T
A P R I L
2 0 2 1
N E W S
Sable Corner is a new contemporary commercial development in Century City.
STRIKING GATEWAY TO CENTURY CITY SABLE Corner is a recently completed contemporary commercial development situated in the thriving Bridgeways Precinct in Century City, Cape Town. Developed by the Rabie Property Group and designed by dhk Architects, the four-storey building is characterised by two merged forms, a distinctive curvilinear glazed facade articulated with vertical aluminium fins and a contrasting formal solid-painted facebrick box
structure. Forming an edge to Sable Road, a major road into Century City, the building boasts enviable views of Cape Town’s CBD, Table Mountain and Lion’s Head and forms a striking gateway into the suburb. Colin Anderson, Rabie chief operating officer, says Sable Corner is within walking distance of the Century City Conference Centre, Century City Hotel and Century Square, where restaurants and
coffee shops spill out onto an open, landscaped area. And with Virgin Active and various apartments a few steps away, the development completes the live-work-play vision of Century City. “Linking the city with decentralised suburban areas, Century City has become the preferred home for many corporate headquarters and Sable Corner is ideally designed for this purpose – a great commercial choice,” says Anderson.
Do your homework if you’re buying off-plan
The Tokyo in the Cape Town CBD is a blend of luxury and efficient city living.
Loop Street development takes off RAWSON Developers’s recently launched The Tokyo has set a new record with the sale of 100 units in just nine minutes. The Tokyo, in Loop Street, Cape Town CBD, is a 148unit residential development offering hotel-style living and micro-apartments. In addition, 133 units were sold on the first day, accounting for 89% of the development being sold, says new business development
manager Morné Moller. While the developers are known for their innovation in the property arena and have captained a comprehensive collection of residential developments in their 25 years of operation, The Tokyo is their first city-centre endeavour. The development is expected to break ground on September 1 and is set to be completed by May 2023. Influenced by Japan’s
futuristic capital, The Tokyo is a blend of luxury and efficient city living, offering views of Table Mountain rising from the city below. Only a few units in the development are still available. The sales launch was hosted online allowing clients to shortlist their favourite units prior to the launch. However, they could only start reserving units once sales opened to the public on March 16.
GET THE BEST OF BOTH WORLDS
Buyers should always visit the site on which a new development is being built, before committing to the purchase.
BUYING an apartment off-plan makes the end product hard to conceptualise, says David Sedgwick, managing director of Horizon Capital Residential. What will the home look like? Where exactly will it be situated within the building? Which direction will it face? And what will be the view from the apartment? It is, therefore, important that you physically visit the site to see it for yourself and to understand what the risks might be once the building is complete. “For example, you might notice that other buildings could come up and potentially block your view.” He recommends that you ask the developer for the expected monthly levy costs, so that you know what to expect. Sedgwick adds: “With our electricity problem, having a generator in the building is a great benefit as well as being a great future selling feature.”
Residents of The Woodland will have country-style living near the bustling heart of Umhlanga. LOCATION, lifestyle, and luxury are what residents can look forward to at The Woodland, a new sectional title estate being developed by NASA Developments in a quiet enclave close to the Gateway Theatre of Shopping and bustling heart of Umhlanga. Tucked away down Woodlands Close, near the Reddam private school, this exclusive estate will contain just 39 free-standing homes, set among towering
60-year-old trees which provide deep shade, fresh air and a home for dozens of bird species. In keeping with this tranquil natural environment, the homes in The Woodland will be built using the latest “green” designs and materials to ensure that they are energy efficient and eco-friendly. Communal amenities on the estate will include an entertainment area, pool, children’s play area and walking/ cycling trails around
the perimeter. This will be secured with concrete palisade and electric fencing and further security measures include controlledaccess via a guardhouse, electronic surveillance and CCTV. Residents of The Woodland will have the best of both worlds – country-style living in a peaceful, stress-free environment and the convenience of living close to top schools and upmarket shops, medical facilities and sports venues.
5
6
2 3
A P R I L
2 0 2 1
In2assets are the specialists in the marketing and sale of Commercial, Industrial, Residential and Agricultural properties. Since inception, our core function has been the sale of property via the auction platform which has enabled us to host highly successful public auctions. Since 2012 we have achieved R4.1 billion in property sales. With business centres located in KwaZulu-Natal, Johannesburg, Cape Town, Bloemfontein, Port Elizabeth, and East London, our national footprint has enabled us to remain the preferred auction company in the country with panel listings of national banks, namely Standard Bank, FNB and Nedbank. Keeping in line with international trends, we have introduced digital auctions to our business which is a revolutionary platform that uses the latest in digital technology to enrich the experience of buying and selling property anywhere, anytime. Our objective is to simplify and facilitate the process of bringing buyers and sellers together through the use of technology. Despite the Covid-19 pandemic and the restrictions introduced to curb it, we achieved over R500 million in property sales since the initial lockdown. We have a strong team of marketing experts with 50 collective years of experience in the industry. With the high demand for investment properties in SA, our business has expanded over time and we are proud to introduce the following divisions to our brand:
Xpress Homes is the brand new Live residential auction platform which offers zero marketing costs with all bidders being pre-approved prior to the auction
CAP
Capx2 is the only dedicated Commercial, Industrial, Agricultural property listing portal which allows Sellers to list their properties directly
THE PROPERTY DEALROOM The Property Dealroom is a confidential and secure virtual vault where high value properties are exposed to a pool of exclusive, vetted buyers facilitating conclusion and priority within a short period of time.
WANT TO SELL YOUR PROPERTY FAST? CONTACT US TODAY! 0861 444 769
info@in2assets.com
www.in2assets.com
2 3
A P R I L
2 0 2 1
What’s new in the
PICTURE: KYM ELLIS
Western Cape TO ADVERTISE HERE
Margi Marsland 084 591 9122
margi.marsland@inl.co.za
Shevon Philander 078 422 4925
shevon.philander@inl.co.za
advertising@property360.co.za
w w w. p ro p e r t y 3 6 0 . c o . z a
7
8
2 3
A P R I L
2 0 2 1
SOLD OUT P property sector gets a boost, thanks to tax break roperty sales in the first quarter of 2021 enjoyed a significant boost thanks to SARS’ Section 12J tax incentive. Demand for investment opportunities into qualifying property developments that include hotels, lodges, student residence or serviced apartments resulted in some developers selling out all units via the Section 12J structure. Qualifying section 12J investments offer individuals, trusts and companies resident in South Africa a tax rebate on investments (up to 45% for individuals), if made through an approved venture capital company.
Cape-based Flyt Property Investment reported that all units at Eaton Square in Diep River, WINK Aparthotels in the CBD precinct of The Foreshore, and Stellenbosch student accommodation development, Quivertree, sold out over 150 units via their structured fund, managed by Section 12J specialist fund managers, Anuva Investments. Fund Manager, Ryan Flowers details that his sales team saw significant interest in their 12J structured products with a flurry of investors signing up once Finance Minister Tito Mboweni announced that the incentive would not be extended beyond the June cut-off. “There was keen interest in our Flyt Select and Partnership funds whereby investors can take part in the 12J incentive, enjoying 100% tax deduction when investing in either a specific sectional title unit individually, or share in the ownership of a number of units along with Flyt and other investors/partners,” Flowers explains. The popularity of the fund can largely be attributed to the 100% loan facility that has been made available to investors and taxpayers who do not have the finance upfront. A 5% deposit secured the investment; and a loan was made available for the balance to qualifying taxpayers while waiting for their SARS refund.
“Final opportunity to invest before the Section 12J incentive expires on 30 June 2021”
“Convert your tax into property” This loan is repaid partly by the investor’s tax refund from SARS and the balance settled either in cash or with a replacement home loan. Zane de Decker, CEO of Flyt Property Investment says that for anyone interested in property investment, there really is no better time to take advantage of this remarkable incentive. “Investors have the unique opportunity to allow SARS to put down the deposit on their property investment for them (up to 45% depending on the investor’s tax bracket). This not only aids in investors’ cashflows upfront but has huge implications on interest savings as in most cases the required home loan is significantly reduced, boosting property rental cash flows further. For those investing cash this equates to major discount on the purchase price of the unit,” he points out. The Section 12J scheme expires on 30 June 2021, thereby affording interested investors one last opportunity to receive the tax deduction via a qualifying investment. The industry expects huge interest in the final period; Flyt Property Investment will soon launch 3 new projects that will be made available to investors via their Section 12J products.
Zane De Decker – Director
Ryan Flowers – Fund Manager
2 3
A P R I L
2 0 2 1
9
10
2 3
A P R I L
2 0 2 1
2 3
A P R I L
2 0 2 1
11
12
2 3
A P R I L
2 0 2 1
Welcome to Vredehoek, Your Peace in the City VREDEHOEK, CAPE TOWN
From R1.595 million (incl. VAT) no transfer duty • Full power back-up generator • Custom designed joinery workspace in each apartment • Free high-speed fibre for one year • Sea, mountain and city views • Secure parking and excellent security • Limited collection of 15 apartments
www.TheVera.CapeTown
Hello Table Mountain ORANJEZICHT, CAPE TOWN
From R2.495 million (incl. VAT) no transfer duty • Full power back-up generator • Storage pod included with each apartment • Panoramic Table Mountain views • 5 minutes drive to Camps Bay • Short-term letting and pet friendly • 15 apartments • 3 exclusive penthouse apartments
www.TheCedar.CapeTown
RESIDENTIAL
David - 072 385 4386 Catherine - 074 384 3127 Maxine - 078 452 5559 Office - 021 425 8586
CONSCIOUS LIVING
2 3
A P R I L
2 0 2 1
13
14
2 3
A P R I L
2 0 2 1
SellINg YoUr Home? Here’s WHat Buyers Want If you’re looking to sell a property, the chances are that you’ve kept a close eye on the property market over the last few months. There are some innovative ways to ensure your property sells in no time – and that’s by knowing what the buyers are shopping for in the current market. Here are five pointers to help you along the way. 1. Target the correct buyer No, we don’t mean that you “stalk” potential buyers on Facebook. Instead, we’re suggesting you get a better understanding of the type of buyers who are likely to purchase property during a buyers’ market. There are generally two types of buyers within the current market, namely Opportunity Seekers and Primary Residence buyers. It’s important that you understand what each of these buyers’ objectives are, and where your property fits in. •
•
The Opportunity Seeker is concerned about price and value for money – they are interested in investment properties, fixer uppers and anything that will enable them to make a solid return on investment. Generally, this buyer has cash at their disposal, which allows them the power and command to buy the best property at the best price. The Primary Residence Buyer are more likely to be first time buyers and those who are downscaling or upscaling. While price matters to these buyers, they are also concerned about location, modern finishes, space and anything else that are deemed important for those who will live on the property.
Once you have an understanding of the two types of buyers, you will be able to assess which one your home is more likely to appeal to. This will help you set up a strong marketing plan that will heighten the property’s appeal to the potential buyer. 2. A well-marketed property Another important factor to consider is the role a good marketing plan plays in selling your home. Buyers in the current marketplace are more knowledgeable about what is happening in the marketplace; they are proficient in researching the market. For example, they are aware that a property that has been on the market for longer than 90 days could indicate that the property is overpriced or that there might be something wrong with the location or property itself. The seller must understand that their property needs to be marketed alongside a good mix of other properties. For example, suppose an agent dominates in a specific area. In that case, that agent is likely to have all the best properties on his book for that area – buyers are likely to know this and might call on this agent to show his portfolio of properties to them. If your property is not in that mix, you might miss the right buyer. A great agent also knows the key aspects – such as location, amenities and features of your home – that will increase the appeal of your property to potential buyers and thus aid in your marketing plan. An agent will also help you determine which type of buyer your home will attract. 3. Pricing advice A good agent is necessary to help market your property well and plays a pivotal part in helping you set the right price for your property. When your property is undervalued, you are set to lose money
when it’s sold; and when it’s overpriced, your property can sit on the market for a long time which will also eventually cost you money. A comparative market analysis – which is done by a qualified estate agent – will realistically compare your property with others in the marketplace and help determine what price you property can be sold at. As mentioned before, we recommend that you use the services of an agent who really knows the area your property is located in and who also have a few properties from the area under their portfolio – they will be armed with a great amount of knowledge of the location and the value of properties in the area. If a property is priced right, sellers need not worry that their property might not sell quickly in a buyers’ market. 4. Negotiate! While setting the right price is pivotal in a buyers’ market, sellers should still be open to negotiating. As mentioned before, current buyers are well informed and well-researched in property. Make sure you’re armed with a fair comparison of properties sold in the area.Be cognisant of the average size of properties sold in the area and where your property fits in. Know your home’s unique selling points, such as a possible expansion of a garden cottage for additional rental income. These are factors that will come into play around negotiations. We also understand that negotiating can be daunting, but your qualified agent should do this on your behalf to ensure that both buyer and seller are satisfied with the outcome. Before reaching the negotiating stages, speak openly to your agent about aspects that you’re willing to negotiate on before it even gets to the negotiating table. 5. Update don’t renovate So, you might want to build that garden cottage that will add a unique selling point to your home and increase the price of your home. But sellers should not over capitalise on their property. Instead of major structural renovations in the hope of pushing up your property price, consider decluttering and cleaning your home. Focus on small cosmetic changes such as painting your home, switching out stale light fixtures with something modern and swapping out those old handles on your kitchen cabinets with something fresh. Significant renovations can become a costly exercise and often yield very little in return on the investment. Small, inexpensive changes, on the other hand, are usually all that is needed to give your home a fresh facelift and increase the appeal of your home to buyers. If you’re currently thinking about selling, we’d love to help with a free valuation and assist you with marketing and selling your property. Kindly email marketing@rawsonproperties.com or visit www.rawson.co.za
‘established’ means nothing if you’re not evolving This has been an incredibly challenging time. The one thing I have not needed to worry about, is you and your team's amazing leadership and support! top performing francHisee
We've got your back Own a Rawson Franchise! Find out more about our business conversion opportunities at join-us@rawsonproperties.com
2 3
A P R I L
2 0 2 1
15
What’s new in
Gauteng
PICTURE: KEENAN CONSTANCE
TO ADVERTISE HERE Margi Marsland 084 591 9122 Shevon Philander 078 422 4925 Anne Reddy
0 8 2 8 2 8 0 0 1 0
Larissa Marks 0 7 6 2 3 1 1 0 8 9 advertising@property360.co.za
margi.marsland@inl.co.za shevon.philander@inl.co.za anne.reddy@inl.co.za larissa.marks@inl.co.za w w w. p ro p e r t y 3 6 0 . c o . z a
16
2 3
A P R I L
2 0 2 1
ROSEBANK’S W I N N I N G C O M B I N AT I O N
L
UXURY living, convenience and highly competitive pricing – this is the winning combination of attractions for apartment buyers at The Capital on Bath development in Rosebank, the fashionable new heart of Johannesburg. This development is in the contemporary cultural precinct that includes the Keyes Art Mile with its collection of world-renowned galleries, designer stores, cocktail bars and fine-dining restaurants. It is also just a short distance from the upmarket Rosebank Mall and a Gautrain station with connections to Sandton, Johannesburg and OR Tambo International Airport. Set in a large private garden, The Capital on Bath is a sophisticated integrated-lifestyle complex which includes a luxury hotel component as well as spacious, fully-furnished studio and two-bedroom apartments. These residential units are on sale at prices 25% below their original asking levels, says Rory O’Hagan, principal of marketing agency Chas Everitt Sandton & Hyde Park. “Prices for the furnished and equipped studios now start at R1.199m, including VAT, while the two-bedroom units are listed at R2.299m, including VAT. “And when you consider what is included, there is simply no other development in the area at the moment that offers anything like the same value for money.” He says the apartments are equipped with top-of-the-line appliances and high-quality furniture and also offer residents super-fast uncapped wi-fi, secure parking and free use of hotel facilities, such as the on-site gym, outdoor pool, shuttle bus and daily cleaning service. “The Capital on Bath also has a business desk, an on-site cafe and function space and 24-hour security. This controlled access leads to a superb combination of luxury, convenience and safety for corporate commuters and global executives who need a city residence, for the newly-retired who enjoy the freedom of hotel-style living and for young families who want an extra bedroom and a garden in addition to high security and quick
access to schools, shops and their offices. “For investors, there is also an option to secure a three-year guaranteed rent on both the studio and two-bedroom options.” O’Hagan notes that Rosebank has undergone almost continuous redevelopment and re-invention since the 1980s, when the corporate exodus from the old Johannesburg CBD began, and has steadily been transformed from a sedate, traditional suburb to a vibrant, cosmopolitan hub that is one of the hottest residential property markets in South Africa. “Rosebank’s central location and accessible, walkable mix of retail, commercial and residential spaces make it even trendier and more desirable to many than the Sandton CBD and that is driving huge demand for apartments to rent and to buy. “The result is that billions of rand are now being poured into further development, as well as the revamp of many of the original apartment blocks in the area. “However, The Capital on Bath apartments have the advantage of already being finished, furnished and ready for occupation – and at current prices they are a most compelling proposition because the current average asking price for unfurnished studio apartments in Rosebank is around R1.3m, while a two-bedroom unit is around R2.6m,” O’Hagan says. For more information or to view an apartment at The Capital on Bath, contact Jorge Santoro at 071 986 8248 or Julio Papapetro at 082 956 3072.
TOP: The Capital on Bath is in the burgeoning Rosebank cultural precinct that includes world-renowned galleries, designer stores, cocktail bars and fine-dining restaurants and is also close to Rosebank Mall and a Gautrain station. ABOVE: Apartments residents have full access to The Capital on Bath hotel facilities, such as the on-site cafe, gym, outdoor pool, business desk, secure parking, daily cleaning service and shuttle bus. BELOW: The Capital on Bath is a sophisticated integrated-lifestyle complex that offers residents a superb combination of luxury, convenience and security in the heart of Rosebank BELOW LEFT: Prices for the spacious studio and two-bedroom apartments at The Capital on Bath start at R1.199m, including VAT, and include top-of-the-line appliances and high-quality furniture.
2 3
A P R I L
2 0 2 1
17
18
2 3
A P R I L
2 0 2 1
What’s new in KwaZulu-Natal
PICTURE: NICO SMIT
TO ADVERTISE HERE Anne Reddy
0 8 2 8 2 8 0 0 1 0
Larissa Marks 0 7 6 2 3 1 1 0 8 9 advertising@property360.co.za
anne.reddy@inl.co.za larissa.marks@inl.co.za w w w. p ro p e r t y 3 6 0 . c o . z a
2 3
PRIME ESTATES VIEW BY APPOINTMENT
OFFICE 031 767 1217 www.primeestates.co.za
NEW SOLE MANDATE
A P R I L
2 0 2 1
19
SUE DINNIE 082 491 5822 www.capcubed.com
VIEW BY APPOINTMENT
HILLCREST CENTRAL R2 295 000
HILLCREST R1 895 000 (RETIREMENT)
HIGHBURY SCHOOL AREA - FREESTANDING - LOW LEVY! Super-secure Estate. This fully tiled home has just been freshly painted inside & out, and the large driveway newly tarred. 3 Beds, 2 baths (new en-suite), large open plan granite kitchen, double auto garage and a fully walled garden. 2 Small dogs allowed, no cats. Walk to all amenities.
RETIRE IN STYLE - POPULAR GREEN MEADOW COUNTRY ESTATE At last - a 2-bed garden apartment!! Modern with loads of extras - this end unit has a stunning Caesar-stone kitchen, large living area, with enclosed sun-lounge, 2 large beds, bathroom with shower, dbl vanity and heated towel rails. A 2nd toilet, clear-view burglar strips & fitted blinds are extras. 2 Carports, a lock-up storeroom, garden on 2 sides. Superb facilities include heated pool, Clubhouse, library, clinic sister, hairdresser. Fibre & DSTV connections. Call DEBBIE 082 903 2024 • Web: 109653290
Call DEBBIE 082 903 2024 • Web: 109099251 VIEW BY APPOINTMENT
NEW SOLE MANDATE
WATERFALL AREA (CRESTVIEW) R1 295 000
PERFECT STARTER - HANSEL & GRETEL STYLE COTTAGE Be the first to view this charming home on a level ½ acre. Set well back with room to build the home of your dreams later. Original thatch has been covered with tiles, but still retains lovely thatch character inside. 2 Beds with BIC’s, FULL bathroom, granite kitchen and a cosy fireplace in the living area. Upstairs is a spacious 3rd bedroom/ lounge/office. Freshly painted. To view, call ANN 072 425 9411 • Web: 100872177
ON SHOW SUN 2 - 4:30PM
SOLE MANDATE
GILLITTS R1 895 000
COMPLETELY RENOVATED - ALL BRAND-NEW FINISHES!! Stunning in pastel grey & white - 3 beds, 3 baths, gorgeous Caesar-stone kitchen, large open plan living area & a double auto garage. End unit with corner garden & views. Medium dog, no cats. Close to new Checkers. Move in now! Follow boards from new Gillitts Checkers to Regent Park. Call DEBBIE 082 903 2024 • Web: 108971396
VIEW BY APPOINTMENT
SOLE MANDATE
KLOOF (GOLF COURSE AREA) R4 250 000
UNBELIEVABLE VALUE... 4/5 BEDROOM FAMILY HOME ++ SEPARATE 2 BED COTTAGE Seeing in believing..... this is a large family winner!! MAIN HOUSE has 4/5 bedrooms, 2 bathrooms, 2 lounges, separate dining room, large gourmet kitchen, 2 covered entertainment patios overlooking level established garden with pool. Double garage & tandem carport. COTTAGE has large open plan lounge/granite kitchen, 2 bedrooms and 1 bathroom. Single auto garage & carport. Call AMANDA 079 528 0942
20
2 3
A P R I L
2 0 2 1
KLOOF / PADFIELD PARK LIVE THE LIFE YOU'VE IMAGINED
FROM R1 450 000 NO TRANSFER DUTY
BUSHWILLOW VALLEY IV
OVER 50s LEISURE LIFESTYLE ESTATE NOW SELLING OFF-PLAN 2 & 3 Bedroom Sectional Title Units Now selling off-plan, in a variety of different size and layout design options, Bushwillow Valley IV offers 16 two and three-bedroom sectional title units in the heart of Greenhaven Estate. Featuring contemporary country-style architecture, these spacious, single-level units come with an open-plan design and a selection of modern finishes.
LEISURE LIFESTYLE ESTATE FOR OVER 50s
BOOK AN ESTATE TOUR / CALL 079 046 1441 / GREENHAVENESTATE.CO.ZA
2 3
FEW T S LA THE M FRO PER O L E DEV
Freestanding 3 bedroom homes from R3 450 000 You could own a modern Farm Style home in the heart of the economic stronghold Sunshine on your face and grass under your bare feet! This is how you’re supposed to live Your own garden, lock-up double garages and spacious rooms Communal Park and Pool
Call now 081 281 3960 to view by appointment! www.woodland.co.za | info@woodland.co.za 2 Woodlands Close, Prestondale, Umhlanga
A P R I L
2 0 2 1
21
22
2 3
A P R I L
2 0 2 1
2 3
A P R I L
2 0 2 1
T O A DV E R T I S E H E R E - C A L L A N N E R E D DY 0 8 2 8 2 8 0 0 1 0 a n n e . re d d y @ i n l . c o . z a OR LARISSA MARKS 076 231 1089 larissa.marks@inl.co.za
23
24
2 3
A P R I L
2 0 2 1
2 3
A P R I L
2 0 2 1
25
26
2 3
A P R I L
2 0 2 1
