Property360 - National Digital Magazine - 26 November 2021

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PICTURE: MIKE VON/UNSPLASH

PROPERTY

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EXCITING NEW ERA FOR ESTATES IS HERE PAGE 3

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The benefits of living in a brand-new home can be realised only if you have made the right choices along the way.

PICTURE: PXHERE

Brand-new out of the box There are advantages to buying a newly built home but only if you’ve chosen the right developer, the right estate and the right house

BY BONNY FOURIE bronwyn.fourie@inl.co.za

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HE IDEA of moving into a brand-new home – finished according to their personal preferences – is exciting for many people.

And if that property is in a new development, with common areas and facilities that are also unspoiled by anyone before them, the appeal is even greater.

Of course, this often comes at the end of a challenging process which involves selecting the right home, the right development, and the right developers.

Our experts offer advice on how to do this: The benefits of buying new Brand-new developments, with their modern designs and facilities, undoubtedly appeal to many buyers, but homes in such developments will come at a higher price than those in a

similar, existing development. In return you get new technologies and, in turn, cost savings.

However, Lance Gore of Spencer Gore Developments, says you must not expect that maintenance will not be needed.

“In fact, new builds require on-going maintenance but it is generally on a much smaller scale. For example, if buying an older house you might need to upgrade the kitchen, which can be quite costly, whereas if you buy a new property, it will have a modern and efficient kitchen.

“There is a maintenance saving with a new build but if you don’t do ongoing maintenance, even with a new build, that saving soon disappears.”

Know what to look out for Part of the responsibility of choosing the right home

in the right development is ensuring that you know who the developers are.

Buyers purchasing a home off plan should buy only from reputable developers who have track records of producing quality homes in similar projects, says Berry Everitt, chief executive of the Chas Everitt International property group.

They should also ensure they know exactly what they are buying in terms of floor space and finishes and that these details are clearly written into their sales agreements.

“It is not uncommon for developers to create a show unit to help buyers imagine what their home will look like once it is finished but you need to double check that yours will be the same size and not smaller.”

Buyers should also check

their agreements to ensure that all the finishes on show, such as the floor and wall tiles; kitchen counters and built-in cupboards, are included in the advertised sale price, Everitt says.

Choosing the right estate in the right area New residential estates are being developed at increasing rates, with many mushrooming up in similar or nearby areas. How do you ensure you choose the right estate for you?

Rabie director Mariska Auret advises that you first choose an area that suits your lifestyle and carefully consider whether it caters to any other requirements that you may have.

Once you have done this, and found an estate that you like in that area, you should ask for the projected levies and rates to ensure that, from a cash flow point of view, the estate suits your budget in the longer term.

“It is also important to know what the overall master plan of the estate looks like – that you are aware of how it will be developed in the future, if it is not completed yet.”

Finding the right retirement community Many retirees opting to move into a retirement village make this decision with the aim of forging friendships and fostering a sense of community. But, just like younger buyers, they might be overwhelmed by the choices.

Wytham Estate developer Gus van der Spek advises that they look out for certain features when

touring a prospective location: • Large dining rooms, games rooms, lounges and libraries for simply relaxing with a book: Make sure that there are multiple rooms in the development large enough to accommodate a group of people.

Ideally, these areas should be designed in a way that promotes casual interaction, for example, a room with a large television where residents can gather to watch a sports match.

• Open-plan layouts: These emphasise natural light and open space and have fewer walls, which helps to subconsciously encourage socialising, rather than isolating people by placing them in separate, closed-off rooms.

Also look out for wellmaintained outdoor areas as another indicator that the developers have built with community in mind.

• Clubs or groups set up for residents with similar interests: Making new friends can be hard – even if you’re close to one another. Choosing a senior living option where there are organised clubs or groups focused on various interests makes it easier to strike up a conversation with like-minded people.

• Regular social events: Much like the clubs of the previous point, hosting regular social events, such as a weekly braai or games nights, makes it simple to meet your neighbours.

• High-speed wi-fi: A strong internet connection will keep you connected to the friends and family who you aren’t able to see in person.

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The Covid pandemic has changed the offerings of new property developments as they aim to meet the needs of today’s residents, businesses and employees. PICTURE: ANDRE DDZPHOTO/PIXABAY

Letter from the editor DRIVING through Cape Town CBD and the Atlantic Seaboard, it’s easy to believe we are in some sort of property boom.

The cranes are out and new developments are going up all over.

It’s such a far cry from those torturous months last year during hard lockdown when

Living in an estate doesn’t need to be only for the wealthy

tools were downed and there could be zero movement in proposed developments.

It hit the industry hard but it has come back with a bang and agents are also reporting good sales in new developments.

And it’s not just locals who think investing in a South African development is a good idea.

Experts say most people, regardless of economic status, have a similar desire for security, decent facilities and lock-up-and-go convenience

While in the bank recently, I overheard a German couple saying they needed to discuss finances regarding an apartment they had bought in a new development in Sea Point.

Buying a spot for R2 million in a sea-facing, secure building, a block from the beach, no transfer duty, is indeed heaven for a local, let alone a foreign, investor.

Developers are still battling issues and yet they continue to build world-class properties which are selling.

We hope this spark of optimism in the industry will continue. Heavens knows, we need it!

Warm regards

Vivian Warby vivian.warby@inl.co.za

FIND US HERE: @property360.co.za

@property360_za

@property360.co.za

BY BONNY FOURIE bronwyn.fourie@inl.co.za

E

STATE living is a reality – or option – for only the small portion of South Africans who can afford such relative luxury but this does not have to be the case.

In fact, estates do not need to be at the top end to cater for most people’s lifestyle needs, regardless of background or financial standing.

Rabie director Mariska Auret says these desires include security, landscaped common areas, well-maintained facilities and lock-upand-go convenience.

“Estates will gain popularity as people enjoy the basket of benefits which comes with living inside a gated estate... (but) an estate does not have to be massive, or right at the top end, to cater to these needs.

“Small, gated communities within greater estates that have communal facilities are very attractive,” she says.

Retirement developments, however, are a “little more complicated” in terms of affordability and ownership but the country has a substantial portion of people at, or nearing, retirement age who would want to scale down and find a safe place to live within a like-minded community.

“A multi-generational estate approach has a great future at various levels of affordability.”

Auret says the growing appeal of estate living is the reason why, even during the pandemic over the past two years, there has been a “steady flow” of sales. Rabie’s developments priced below the R2 million mark, in particular, are “doing very well”.

“Our recently sold-out development in Burgundy Estate, Bow Tie – which is made up mostly of apartments and a small component of townhouses – sold out within a year.

“Burgundy Estate, near Durbanville, remains a very popular precinct and we launched a new development, Quinta Estate, at the beginning of October with 50% of phase one sold out. We’re launching another development this week. We also have our retirement development, Oasis Life, currently

selling in Burgundy Estate.”

Apart from new estates, the Western Cape appears to be a hive of new property development with FWJK recently starting construction on three residential and hospitality projects in Sea Point and Bantry Bay. This, says chief executive Dave WilliamsJones, is evidence of an uptick in market activity following the almost flat rate of growth over the past two years.

“After the 373-apartment 16 on Bree development, we have focused on smaller development opportunities on the Atlantic Seaboard,” he says.

Another new development in the Mother City is Eighty2 on M in Sea Point which Jacques van Embden, managing director at developer Blok, says is human and urban housing focused.

“As our newest development, we have taken the approach to develop a living space that best meets the needs of a youthful, connected urbanite...

“Covid has made us realise how important living spaces are, as well as the neighbourhoods that surround them.”

Lance Gore of Spencer Gore Developments, which is behind the new Westwood Quarter development in Durban’s Westville suburb, says buyers want safe and secure living environments that also offer more space.

“Free-standing or semi-detached houses with a small garden, within an estate or complex, may become more sought after post Covid... Apartments may now, more than ever, need to have a small patio or open area to provide some connection to the outdoors.”

While estate living might not suit everybody, Gore says the lifestyle generally affords residents a secure, safe and comfortable environment.

“Estates can be mixed use too and this could be a future trend. Larger, mixed-use estates with living, shopping and work, all within a well-run and safe environment,

will become more popular.”

Auret believes there is demand for both apartments and free-standing houses within estates, although the market is “quite value driven”.

And when it comes to meeting the demands of today’s buyers, she agrees that estates need to provide convenience, safety and a connection with the outdoors.

“This means gardens, green space and access to walking, running and recreational areas are important factors.”

She adds that ground-floor apartments are very popular, as well as stand-alone houses with exclusive-use gardens.

“With more people working from home, or working with more flexibility, work-life balance has cast more focus on home life and what surrounds your living environment.”

New commercial property developers have had to alter their designs and offerings to meet the needs of today’s businesses and their employees. Simon Wilkins, head of Global Corporate Services for Galetti Corporate Real Estate, says developers, landlords, brokers and tenants are working together to transform traditional “9 to 5” premises.

“Adept investors are ahead of the curve.

Rather than taking the conservative approach, they recognise the imminent return to work.”

He says the office of the future promises to promote safety, fun and collaboration as many employers entice their staff to return to work.

“Landlords are working just as hard to differentiate themselves from each other and this makes for an interesting and competitive landscape. Be it through incentives, amenities or location... the sector is working hard to bring us developments and concepts that justify a higher price tag.”

New office developments are also focusing on co-working and flexible workspaces to suit remote workers, as well as properties that meet the needs of companies implementing hybrid working policies for employees.

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 and Environment Vivian Warby vivian.warby@inl.co.za Features Writer Bonny Fourie bronwyn.fourie@inl.co.za Design Kim Stone kim.stone@inl.co.za

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O T H E R

P R O P E R T Y

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Vaccine mandates won’t work in complexes

The repo rate rise will not have a huge impact on homeowners’ monthly bond repayments. PICTURE: TOWFIQU BARBHUIYA/UNSPLASH

REPO RATE INCREASE NOT TOO BAD FOR HOMEOWNERS AN INCREASE in the repo rate of 25 basis points means homeowners with a R1 million bond will be paying R151 more a month on their loan repayments.

Ooba Group chief executive Rhys Dyer says this will take the monthly repayment from R7 753 to R7 904.

However, despite the increase, he still believes now is a good time to be a homeowner and the

increase in the repo rate to 3.75% will have little effect on the sustained demand for home loans.

Latest oobarometer data reveals that the average price of a home in South Africa is around R1.3m, which means most of the country’s homeowners will have to budget for an increase of under R200 on their monthly bond repayments.

“A marginal increase in the repo rate was imminent.

It’s important for homeowners to budget accordingly and to plan for every eventuality.”

At the higher end of the home loan spectrum, Dyer says loan repayments on a home purchased for R2.5m will increase

by R377 a month (up from R19 382 to R19 759), while repayments on homes which were bought for R3m will increase by R452, going up from R23 259 to R23 711.

Housing estates do not yet have the right to insist residents and visitors produce proof of vaccination before using common facilities. PICTURE: PEGGY UND MARCO LACHMANN-ANKE/PIXABAY

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AN RESIDENTS of an estate or their visitors be compelled to produce proof of vaccination before entering the complex or using the common facilities like the swimming pool, gym or clubhouse?

According to specialist community schemes attorney and BBM Law director Marina Constas, the answer is probably “no”.

“I believe they would be overreaching and unlikely to succeed in implementing a vaccine mandate.”

Constas says common property is owned by all the members of the body corporate, which is

composed of all the owners in the complex.

“Every owner has an undivided share of the complex’s common property and cannot be prevented from using it.

“Right now, no definitive decision has been made by the high court in South Africa regarding vaccine mandates...

“Without a relevant law, such as a public health order or a valid by-law, there would be no legal basis for sectional title trustees or homeowners’ association directors to mandate vaccination among residents in their community scheme or for visitors.”

Public infrastructure spending crucial to recovery

The construction industry can expedite economic recovery and help create jobs. PICTURE: PIXABAY

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HILE the GDP has seen some growth in the past four quarters, the construction industry remains key to recovery and creating jobs, says chief financial officer of GVK-Siya Zama, John de Sousa.

Investor sentiment has started to shift since Q3 this year and this augurs well for the industry and the country. “We are hoping to see the fruits of this in the next year as Covid gradually loses its grip on the country.”

Another catalyst to the recovery of the industry will be government infrastructure spend which, De Sousa says, is vital

for job creation and economic recovery.

“Government infrastructure spend and the roll out of projects and services to communities remain critical to the wellbeing of our country and its people. The government can jump-start the economy and create numerous jobs through infrastructure spend.

“In turn, the construction industry plays a multifaceted role in economic growth through skills transfer, SMME growth and development and creating local employment in communities where projects are taking place.”

DO DEVELOPERS UNDERSTAND WHAT PEOPLE REALLY WANT? Many retirees consider moving into senior living developments for companionship PICTURE: STEVE BUISSINNE/PIXABAY

PROPERTY developers are always looking for ways to attract buyers but may be missing what people really want.

Prospective buyers aren’t looking for the retirement village or estate with the most bells and whistles – they’re looking for a new home which will help them feel part of a close-knit community, says Gus van der Spek, developer of Wytham Estate in Upper Kenilworth, Cape Town.

“It’s important to have lifestyle-focused facilities on-site

but for the reason that they promote social interaction and are a convenient location to meet new people.”

As people get older it is almost inevitable that their social circles will shrink and the effects of loneliness can be devastating.

An increase in the risk of chronic illness, cognitive decline and depression have all been linked to social isolation.

However, retirement villages or estates that are deliberately designed to promote a sense

of community can go a long way in mitigating this, says Van der Spek.

“As a result of the pandemic, many older adults are now considering moving into senior living for the first time because these developments promise a built-in community to become part of. They hope that by being surrounded by fellow retirees, they will find regular companionship that will not only improve their quality of life, but possibly extend it.”

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PICTURE: LAURA CLEFFMANN/UNSPLASH

National Listings

T O A D V E RT I S E I N K WA Z U L U - N ATA L Anne Reddy 0 8 2 8 2 8 0 0 1 0 Larissa Marks 0 7 6 2 3 1 1 0 8 9

anne.reddy@inl.co.za larissa.marks@inl.co.za

TO ADVERTISE IN WESTERN CAPE Leigh Auret 074 991 3373 Shevon Philander 078 422 4925

leigh@property360.co.za shevon.philander@inl.co.za

TO ADVERTISE IN GAUTENG Contact any of the four sales representatives above

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The Sunvlei development in Somerset West aims to meet the needs of professionals looking for the ultimate work-life balance.

HEARTWOOD PROPERTIES SPEARHEADS NEW HYBRID OFFICE DEVELOPMENT Employees can achieve the ideal work-life balance in an area that offers plentiful outdoor living space, proximity to world-class wine estates, and is just a 30-minute drive into the city of Cape Town.

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OMERSET WEST has fast become one of the Western Cape’s leading semigration destinations, especially for people who are looking to move away from the city and enjoy a better quality of life.

The advent of remote working at the start of the pandemic has allowed employees to make such moves, and with these working patterns now entrenched in the “new normal”, office space needs to adapt.

Market research conducted by Heartwood Properties, which is listed on the Cape Town Stock Exchange and specialises in commercial office and industrial warehousing developments across South Africa, reveals that many employees are not planning to make a full return to the office.

However, because they still need the human

Sunvlei is in the Paardevlei precinct.

interaction that working in an office offers, the company is offering a solution to meet both demands – a hybrid office development.

Sunvlei is such a development; a “first-ofits kind”. Situated in the Paardevlei precinct of Somerset West – an area that has already seen several exclusive residential estates and top schools being built over the last few years – this new development aims to meet the needs of professionals looking for the ultimate work-life balance.

“Somerset West is without a doubt a very attractive location to set up the office of the future – one that is hi-tech, safe, spacious, and not only as comfortable as any home office, but better,” says Andrew Utterson, director at Heartwood Properties.

“And Sunvlei, a 2 000m², R57 million office development, offers tenants access to innovative

future-focused features.”

These features include electric-vehicle charging bays, 100 solar panels, a Tesla UPS battery system, ultra-high-speed wi-fi, a back-up power generator and back-up water tanks.

The development’s architecture is attractively modern and has been designed by locally based architect Bruce Wilson, who is also responsible for The Sanctuary and Waterstone shopping malls in Somerset West.

The exclusive designer interiors were a collaboration between Michelle Utterson and Madre Meyer of Source IBA and are modelled on some of the world’s best-looking airport lounges, where clean, contemporary designs rival some of the most chic of hotel lobbies.

Meyer, creative director of Source IBA, says: “We are blurring the lines with many aspects in terms of inside versus outside; serviced versus

The interior boasts clean, contemporary design.

self-help; private versus public; workspace versus hospitality and analogue versus digital.”

The building will house a 190m² designer business lounge, with luxury finishes including meeting rooms, a coffee bar and zoom pods.

Tenants will be able to offer these facilities to their remote workers who need to pay the occasional visit to the office.

In addition, there are eight business suites, sized between 163m² and 233m² for purchase or rent. Units can also be combined and range in price from R17 862/m² to R19 213/m².

“It’s a little different from the co-working office model offered by the likes of WeWork and Regus in the sense that only employees of Heartwood tenants will have access to the co-working spaces,” adds Utterson.

For more information visit https://www. heartwoodproperties.co.za/paardevlei/

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S e cu re y o u r Pi e c e o f Parad ise RETIRE ON THE KZN SOUTH COAST

PHASE 4B SELLING NOW!!

PHASE 1, 2 & 3 SOLD OUT

2 Bedroom units from R1 895 000 3 Bedroom units from R2 350 000

300 UNITS SOLD 271 UNITS OCCUPIED

Phase 4B is open for sale. These units have exceptional 160 degree sea views over the village of Widenham. Retire to the tranquil South Coast of KwaZulu Natal.

Let Hibiscus Retirement Villages be your destination of choice for your retirement.

More than 50 years of experience in caring for retired people.

Call Caylin or Jenette on 066 306 0669 or 066 306 0612 to view www.hibiscusrv.co.za • widenhamsales@gmail.com • www.widenhamretirementvillage.co.za

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60 Years of experience offering value for money Retirement Lifestyle Villages Widenham Retirement Village, the newest addition to the Hibiscus Retirement Village group, is set on 100 hectares of plush coastal forest in the quaint community of Widenham.

The village will consist of 600 cottages.

The amenities currently planned are two beautiful bowling greens, a community centre, a swimming pool, tennis court, a chapel, hall, a comprehensive frail care centre, coffee shop and gym.

Phase 1,2,3 and 46 units in phase 4 of the development are complete and occupied.

We have 300 units sold and 271 units occupied.

We have 468 residents creating a new life within the village, learning new activities and making new friends.

There is no waiting list for Widenham Retirement Village. Phase 4B is open for selling and the first 46 units are occupied and 75 units have been sold. Don’t delay phone Caylin or Jenette and book your piece of paradise for the rest of your life.

Hibiscus Retirement Villages has been in existence for 60 Years, we have a tried and tested track record and a strong balance sheet. The Society has 4 retirement villages, 1147 living units and over 1600 residents.

MAKE WIDENHAM YOUR RETIREMENT VILLAGE OF CHOICE

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LAST FEW FROM THE DEVELOPER

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A G E N T S ’ D I R E C T O R Y

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KNYSNA LIFESTYLE ESTATE Knysna Office 044 382 2139 Email: janey@kle.co.za www.kle.co.za

WIDENHAM RETIREMENT VILLAGE South Coast, KZN Office 066 306 0669 / 066 306 0612 Email: widenhamsales@gmail.com www.hibiscusrv.co.za

KINGSFORD ESTATE Westville, KZN Office: 087 012 5670 Email: info@kingsford.co.za www.kingsford.co.za

DOGON GROUP PROPERTIES Atlantic Seaboard Office 021 433 2580 Email: thekings@dogongroup.com www.dogongroup.com

NOBLE RESORTS Cape Town 010 612 6060 sales@nobleresorts.co.za

KLOOF RETIREMENT VILLAGES Upper Highway - KZN Contact: 073 2100 577 Email: lhan@telkomsa.net www.kloofretirementvillages.co.za

DOGON GROUP RENTALS Sea Point Office 021 433 2580 Email: enquiries@dogongroup.com www.dogongroup.com

RHONDA RAAD PROPERTIES Cape Town Office 082 448 7795 Email: rrpsales@mweb.co.za www.rhondaraadproperties.co.za

THE WOODLAND Umhlanga Office 081 281 3960 Email: info@woodland.co.za www.woodland.co.za

DOGON GROUP PROPERTIES Southern Suburbs, Claremont Office 021 671 0258

BALWIN PROPERTIES Ballito Office 084 788 1020 Email: michelle@balwin.co.za www.balwin.co.za

SHELLEY RESIDENTIAL KZN Office 082 412 4463 Email: hello@shelley.co.za www.shelley.co.za

southernsuburbs@dogongroup.com

www.dogongroup.com

TOP ADDRESS IN HYDE PARK, JOHANNESBURG!!

STYLISH AND SPACIOUS RESIDENCE WITH SWIMMING POOL ,TENNIS COURT & MORE ONLINE LIQUIDATION AUCTION

DOGON GROUP PROPERTIES Western Seaboard Office: 021 556 5600 or 021 433 2580 Email: enquiries@dogongroup.com www.dogongroup.com

In liquidation: Sandton Property Developments 2001 (Pty) Ltd. Master’s ref: G1160/2020 PETER MASKELL AUCTIONEERS VAN’S AUCTIONEERS

KZN Gauteng ONLINE BIDDING: 12:00, 10-11 086 AUGUST Office: 033 397 1190 Office 111 82672021 BID AND REGISTER: www.vansauctions.co.za Email: info@maskell.co.za www.bidlive.maskell.co.za www.vansauctions.co.za

AUCTION OF: 81, THIRD ROAD, HYDE PARK, JOHANNESBURG

www.property360.co.za Extent: ± 3000 m² Improvements: Ÿ Entrance hall, lounge, dining room with sun room & family room Ÿ 4 bedrooms Ÿ 3 bathrooms (2 en suite) Ÿ Separate toilet Ÿ 2 TV rooms, kitchen & scullery

WEB21/0141

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