Real|life Winter 2019 ( Issue 59 ) by REAL|life

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2019/04/29 16:06

RESORT STYLE APARTMENTS with unequalled amenities... Steyn City will soon be launching 104 on Creek - a sensational range of luxury apartments that exemplify ‘resort living’. Residents can enjoy access to world-class facilities that include resort pools, an 18 hole Nicklaus Design golf course, an award-winning clubhouse, an equestrian centre, fine dining restaurants and casual eateries, convenience retail, children’s play nodes, outdoor gyms, tennis courts, a skate park, basement parking, a pedestrian boulevard with kilometres of running and cycling tracks, a school, an office park (for those who never wish to leave home) and 100 more reasons to make this destination your home.

For more info, contact Mark: 082 559 2989 Leanne: 072 078 9562 steyncity.co.za

KIDS AND TEENS WONDERLAND • PRIVATE SCHOOL • SPORT AND RECREATION • LEGENDARY GOLF HOSPITALITY AND RETAIL • LEISURE • EQUESTRIAN • CITY LIVING INNOVATIVE INFRASTRUCTURE• COMMERCIAL • RETIREMENT • CONSERVATION • SECURITY

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IN THIS ISSUE

On the cover

What’s hot

Bronze table, named Extra Terrestrial, by Cape Town-based sculptor-designer Stanislaw Trzebinski

WINTER 2019

REAL luxury

REAL home

TRAVEL Adventure and luxury in Namibia

JOBURG HOME From a poky ’70s house to a dream home…

WHAT’S HOT THIS SEASON Things to see, trends to spot and places to be

TRAVEL Motswari Private Game Reserve’s owners have put their weight behind rhino conservation

TRENDS Smart design and a creative use of colour are game-changers in the kitchen

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REAL property

REAL wealth

HOME A container home in Glencairn Heights has become something of a landmark

THE WEALTH REPORT Whisky, wine, classic cars, art, diamonds… Here’s how these asset classes have fared over 12 months

50 PROPERTY There is movement in the luxury home market as some of the ultra-rich shift their focus south

60 INVESTMENT We compare citizenship-throughinvestment schemes

Pam Golding property section

REAL people

BACK CHAT We catch up with Vogue International editor Suzy Menkes, who presented the Condé Nast International Luxury Conference 2019 in Cape Town

PAM GOLDING PROPERTIES See the latest exclusive properties for sale by South Africa’s leading estate agency

DISCLAIMER The publisher of this magazine gives no warranties, guarantees or assurances and makes no representation regarding any goods or services advertised within this edition. © The Advertising Joint Venture. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from the publisher. The publisher Is not responsible for any unsolicited material.

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WINTER 2019

EDITOR’S LETTER The year is runnning away with us; I can’t believe it’s the middle of 2019 and we have survived the elections. It’s also good to know that global interest in luxury property investment in Cape Town remains strong. With $1 million buying you 177 m2 prime real estate in the Mother City compared with 16 m2 in Monaco, for instance, it’s little wonder. Get the full picture on page 50. Talking of hot property, we also showcase the most popular countries that offer residency and/or citizenship in exchange for a minimum real-estate investment – on page 60. And for a less permament getaway a bit closer to home, have a look at the marvellous Porky Hefer-designed nest-like villa in the Namib Desert, pictured below and in our luxury travel article on page 14. The Nest @ Sossus is just as delightfully eye-catching and functional as the bronze table by sculptor Stanislaw Trzebinski on our cover. Enjoy this issue, and remember to have fun! Before you know it, it will be Christmas.

PUBLISHED BY THE CREATIVE GROUP FOR TISO BLACKSTAR PROPERTY PUBLISHING 1st Floor, Block H, Sable Square, c/o Bosmansdam and Ratanga roads, Milnerton, Cape Town, 7441 reallifemagazine.co.za | 021 447 7130

EDITORIAL TEAM Editor Debbie Loots | debbie.loots@thecreativegroup.info Creative director Leah de Jager Deputy and online editor Julia Freemantle Copy editor Kay-Ann van Rooyen Accounts and finances Katrien Bezuidenhout Digital management Augment Creative Media Contributors Lauren Groenewald, Debbie Hathway, Anél Lewis and Kim Maxwell

Debbie BELOW The Nest @ Sossus, designed by Porky Hefer, in the Namib Tsaris Conservancy near Sesriem, Namibia.

ADVERTISING SALES TEAM

PHOTOGRAPH JAN RAS

Michèle Jones | Senior key account manager (lifestyle & property) 084 246 8105 michele.jones@thecreativegroup.info Susan Erwee | Senior key account manager (developments) 083 556 9848 susan.erwee@thecreativegroup.info Sarah Steadman | Senior key account manager (lifestyle & developments) 083 222 9153 sarah.steadman@thecreativegroup.info

ADVERTISING BOOKINGS AND SUBMISSIONS Jackie Maritz | General manager reallife@thecreativegroup.info | 021 447 7130

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Love the environment! Please recycle this copy of REAL|life after you have read it

WINTER 2019

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E B R AT I N

27 YEARS

OF QUALITY SERVICE

STYLISH SOPHISTICATION. TIMELESS ELEGANCE. We do more than kitchens. At Easylife Kitchens we pride ourselves in designing, manufacturing and installing bespoke living spaces for your home. From bedrooms and bathrooms, to studies and kitchens. Speak to our expert designers at one of our 31 showrooms across the country. 2 year kitchen guarantee. Easylife Kitchens, making life easier since 1992. Proudly featuring Jo-Ann Strauss, Easylife Kitchens Brand Ambassador. 0861 327 9543 | 0861 EASYLIFE | www.easylifekitchens.co.za

WHATâ&#x20AC;&#x2122;S HOT this season Things to see, trends to spot and places to be

TEXT Julia Freemantle PHOTOGRAPHS Hayden Phipps, Tegan Smith, Daniela Zondagh and supplied

1. STAR QUALITY The 2019 instalment of 100% Design South Africa is set to take place from 7 to 11 August alongside Decorex Joburg at the Gallagher Convention Centre. As always, the show will feature a lineup of exciting design talent, which this year will be headed up by Feature Designer Laduma Ngxokolo. The man behind the fashion brand MaXhosa by Laduma has branched out into homeware â&#x20AC;&#x201C; he will present a collection of rugs, cushions and throws; his new trade-friendly offering of upholstery, wallpaper and curtaining; as well as a few surprises. 100percentdesign.co.za reallifemagazine.co.za

WINTER 2019

2. ITâ&#x20AC;&#x2122;S ONLY NATURAL Nature has never been more in vogue. Bring the outdoors further in with wallcoverings from the Jungalow collection by Hertex. From delicate floral designs perfect for a nursery to large-scale wall panels created for mural applications (think zen-like lotus designs or a landscape of evocative palms), thereâ&#x20AC;&#x2122;s a flora-and-fauna-inspired design for every taste and space. hertex.co.za

3. LIGHT WORK British brand Anglepoise has recently made great strides to keep its range of lamps up to date by partnering with exciting designers from various disciplines. The new Margaret Howell colour palette, developed with the respected fashion designer, includes the best-selling Type 75TM lighting collection in some striking new shades: Yellow Ochre, Saxon Blue and Sienna. Floor-standing Type 75TM lamps in all three colours will also be added, expanding the Anglepoise + Margaret Howell collection to six pieces. anglepoise.com

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4. THE WHOLE PACKAGE Ever the innovator, Tom Dixon opened a permanent restaurant and showroom, The Manzoni, in Milan during Design Week 2019. It allows his brand to have a permanent base in the city for exhibiting his designs to their best advantage. One of the new ranges shown during Design Week was the Spring series of three pendant lamps, made of pliant stainless-steel strips arranged like a whisk around a custom-made LED. The lamps can be adjusted into various silhouettes, from a flat arrangement to a flying-saucer configuration. tomdixon.net

5. EBB AND FLOW In the Absence of Light is an upcoming solo exhibition at Southern Guild by sculptor Stanislaw Trzebinski. Born in Kenya, the artist’s lifelong fascination with the sea has informed his captivating body of work. He’s the son of an artist, Tonio Trzebinski, and a fashion designer, Anna Trzebinski, so his exposure to creativity from a young age shaped his destiny, and time spent fishing and diving with his father (who passed away when he was nine) gave him a lifelong love of and respect for the sea. In the Absence of Light will include an installation of standing chandeliers, suspended “sea heart” lights, a series of tables and other works. The exhibition opens on 26 July 2019. southernguild.co.za

6. A NEW LEAF The previously cityglam 15 on Orange Hotel has been newly transformed into an oasis of open spaces, natural light and a proliferation of leaves. Given an extensive overhaul by Source IBA, the atrium, bar, deck, conference room and coffee bar have been turned into layered and welcoming spaces, with the aim to create a more hospitable and enticing venue. The result is a beautiful and calming oasis. marriott.com

7. HOME AFFAIRS Chef Jan Hendrik van der Westhuizen of the Michelinstarred restaurant JAN in Nice, France, will return to his roots in an exciting partnership with the Oppenheimer family in the Northern Cape. Born of a shared passion for all things South African, KLEIN JAN will open at one of the country’s leading private game reserves, Tswalu Kalahari, where Jan Hendrik will design the destination’s culinary experience. Watch this space. tswalu.com

WINTER 2019

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6 8. LIFE OF STYLE Chanel has a fragrance collection that allows a more intimate engagement with the brand’s story. Les Exclusifs de Chanel scents are inspired by the life of Coco, and each one encapsulates a facet of her history. The new addition to the range, 1957, celebrates her link with the United States – Americans were bewitched by her creations and her stature as an independent woman. It perfectly illustrates the signature (deceptively) simple Chanel style. chanel.com

What’s Hot This Season

9 9. HELLO, NEIGHBOUR The Aster, a new Horizon Capital Residential development, is an exclusive block of 21 apartments in Oranjezicht, Cape Town. Designed to maximise natural light, every apartment boasts floorto-ceiling glass and aluminium sliding doors. Residents enjoy the benefits of sustainable features like solar water heating, water-efficient fittings and low-energy LED lighting, and communal outdoor space. Prices start from R1.95 million, with no transfer duty payable. horizoncapital.co.za

10. AN EXCELLENT IDEA GOOD is a modern multilayered business that works towards “doing good” through its various business endeavours, which include GOODWork, GOODFood and GOODStore. It strives to consider the environment, promote sustainable practices and be mindful of its impact on people and the community. Its first venue, GOODWork, is a co-working space in the Iron Works building in Woodstock, offering hot desks, suites and meeting rooms. peopleofgood.com reallifemagazine.co.za

WINTER 2019

ther e REAL luxury

OUT

TEXT Julia Freemantle PHOTOGRAPHS Supplied

Get a glimpse of the lesser-seen sides of Namibia with three extraordinary travel experiences that measure up to the awe-inspiring scenery 00

OCTOBER 2018

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REAL luxury

Namibia’s return to the tourism hotlists brings with it a fresh crop of places to stay, some not quite what you might expect, and whose uniqueness is perfectly at home in this vast and otherworldly place. Huge and sparsely populated, the country offers incredible game viewing (in the popular Etosha National Park, for instance), incomparable landscapes (think the desolate beauty of the Skeleton Coast) and good infrastructure (making selfdriving a possibility for the intrepid traveller). Proximity to South Africa makes it an accessible destination for local explorers, and affordability makes it an attractive option for overseas visitors. We’ve selected three special ways to see Namibia that offer a point of difference and anything but run-of-the-mill memories.

NAMIBIA HORSE SAFARI COMPANY

Ondangwa

Otjiwarongo

Swakopmund

Lüderitz

Gobabis Windhoek

Keetmanshoop

On the Damara Elephant Safari, riders have to be fit and tough enough to deal with long days in the saddle over vast plains, mountainous terrain, and encounters with desert-adapted elephants.

The Namibian landscape lends itself to adventure – it’s a mecca for a variety of sporting endeavours, from hot-air ballooning to quad biking. Arguably one of the best ways to see wildlife, however, is on horseback. With five routes to choose from (different terrain and difficulty levels, from intermediate to advanced), the 10-day safaris with Namibia Horse Safari Company immerse you in the environment like no self-drive or vehicle-led excursion ever could. The riders spend some nights camping under the star-filled desert sky and others staying at lodges along the route. Each safari has its particular merits – the Wild Horses Safari, for example, brings you within close range of the Namib’s feral herds, and the Desert Canyons Safari takes you to the hot springs at Ai-Ais and the banks of the Orange River. They all offer a blissful time in the wild. Although this is not a “luxurious” trip in the traditional sense of the word, it offers a once-in-a-lifetime experience of being in nature and off the grid. Your comfort is catered for as far as it is possible in the wild, with showers set up at each camp and everything fully catered, down to the sundowners. namibiahorsesafari.com

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WINTER 2019

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REAL luxury

THE DESERT GRACE, GONDWANA COLLECTION

Ondangwa

Otjiwarongo

Swakopmund

Lüderitz

Gobabis Windhoek

Keetmanshoop

The Desert Grace is not your typical safari lodge – the interior design, by Fox Browne Creative, is a far cry from the beigy palette and low-key motifs you might expect. Whereas the desert setting has been acknowledged in the design, this is in conjunction with a fun frivolity that sets the lodge apart. Styled along the lines of a Palm Springs motel with mid-century accents, the interior is an unexpected delight. The colour palette – earth tones, the dusky hues of the desert at sunset, and the soft pink of rose quartz – and accessories like woven baskets serve to create a comforting cocoon and keep you grounded in the location. Yet it all feels fresh by virtue of cool design pieces, contemporary artworks, and quirky touches like a pink neon sign above the bar and ostrichfeather lampshades. It has the distinct feel of a Wes Anderson film set. The 24 bungalows each has its own plunge pool, the bar and restaurant are nearby, and there’s air-conditioning and Wi-Fi. During the day you can do an e-bike tour and join an excursion to the Sossusvlei dunes, and after dinner continue exploring on the Scorpion Night Walk. gondwana-collection.com

The glass doors of every bungalow at The Desert Grace open out to a veranda with a plunge pool, an outdoor shower, and comfortable armchairs to sit in and contemplate the desert scenery and the night sky.

The communal nests of sociable weavers, a common sight in the Kalahari, inspired the design of The Nest @ Sossus. Local artisans and locally sourced materials were used as far as possible in the construction of this luxurious private villa.

THE NEST @ SOSSUS Ondangwa

Otjiwarongo

Swakopmund

Gobabis Windhoek

Lüderitz

Keetmanshoop

WINTER 2019

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Located in a remote valley in the Namib Desert, in the Namib Tsaris Conservancy, The Nest is a private residence for rent straight out of a vernacular architecture dream. It was designed as a collaborative project involving celebrated designer Porky Hefer, owner and conservationist Swen Bachran, and interior designers Yelda Bayraktar and Maybe Corpaci. The structure, built using locally sourced materials, pays homage to the landscape by drawing inspiration from the communal nests of sociable weavers, which are typical of the area. Inspired by the birds’ clever design – the nesting chambers offer an effective buffer against extreme heat and cold – the home’s rounded rooms are designed with all furniture built in and custom-crafted. Accommodating up to seven guests in four en-suite bedrooms, this hideaway is available on an exclusive-use, all-inclusive basis. It is as private and remote as you can get, making it the perfect escape for a small group for a special occasion. A guide, chef and butler ensure guests are looked after, while the setting and a flood-lit waterhole provide exciting desert wildlife viewing. perfecthideaways.co.za

REAL luxury

REAL travel

natu r e

WHERE ART MEETS TEXT Debbie Hathway PHOTOGRAPH Supplied

REAL travel

“I like that you have a dodo… because I’m always mentioning the dodo,” says Fabrice Orengo de Lamazière, co-owner of Motswari Private Game Reserve in Limpopo. “It links to last night’s performance. The same thing will happen to the rhinos.” The tattoo of a dodo on my shoulder is always a talking point. A flightless bird endemic to Mauritius, it was extinct by 1681, having been hunted by sailors and the animals they introduced. The rhinos of the Greater Kruger National Park are facing the same fate due to poaching. I’m talking to Fabrice and his wife, Marion Geiger-Orengo, at Geiger’s Camp in the reserve after their hosting of the launch of pianist Tian Jiang’s CD Motswari Fantasy Night Symphony. They all met at a private concert Tian gave in Cape Town 12 years ago and discovered a mutual passion for music and wildlife. “His music is powerful, moving,” says Fabrice. “Tian started to regularly visit Motswari – and one day we decided to host a crazy concert in the bush with a grand piano. Soon after that we experienced the tragic death of a rhino poached on one of our properties.” The incident inspired Fabrice and Marion to establish Rhino Disharmony to raise awareness of the animals’ plight through the only language understood internationally: art in all its forms. Tian was their first Rhino Disharmony ambassador. Motswari is a second-generation family-owned property in Timbavati and Umbabat Nature Reserve. Home to diverse and rare species,

it is a natural source of inspiration for the design and decoration of Geiger’s Camp. Transformed into a four-bedroom “wing” a short distance from the main lodge, the once-exclusive domain for family and friends has been conceptualised as an intimate private commercial experience for guests. Fabrice and Marion invited input from interior decorator David Strauss. “The first time David came up here,

The owners of Motswari Private Game Reserve have put their weight behind rhino conservation I wanted to get going to show him the rooms, but he just stood looking out from the veranda, smoking a cigarette, taking it all in. He said you’ve got to take your inspiration there (the bush) and it’s got to seamlessly come in,” says Marion. It’s a homely space layered in bohemian chic, where people should feel comfortable enough to put their feet up on the couch or take an afternoon nap on a lounger next to the pool. “We put our love into this building,” says Fabrice. “Marion’s artistic background has been important for the decor, and she brought in a few elements of fun, such as the chandeliers and paintings.”

Marion admits it took a while to get real confidence going. “The fact that it’s called Geiger’s Camp put me in the position that I could just choose, regardless of whether those decorative decisions matched the latest trend.” The couple shops anywhere, not only at high-end stores, and often on their travels. “The outdoor shower tiles… they’re a completely mad choice. They were at a factory warehouse, end of range, nobody wanted them. We saw these tiles and thought they’ll make a statement.” When it comes to antiques and objets d’art, they buy what they like, not always knowing where they will fit in. A cushion on the veranda bears one of Marion’s designs, stitched by the women of Kaross Studio in Limpopo; a 50-piece wooden crocodile collection donated by a friend graces a wall in the lounge; and the “weird chandelier” is from an “authentically off-thewall” neighbouring housekeeper. As for the bathtubs… “We test everything,” says Marion. “We actually sit in the baths in the shop. These are the perfect size – small (because water is scarce) but big enough to be able to enjoy the experience.” There’s no doubt Motswari offers amazing wildlife experiences, great food, beautiful bedrooms with fantastic beds and fine linen, but what makes it stand out from the rest? “There’s no secret,” says Fabrice. “It’s just love and passion for art and nature, and the staff, whom we are proud to call our family. This is Geiger’s Camp.”

HOW TO GET THERE: Book a flight from Johannesburg with Federal Airlines, which offers charter aircraft as well as daily shuttles to South Africa’s most popular reserves – visit fedair.com HOW TO BOOK ACCOMMODATION: To book at Geiger’s Camp in Motswari Private Game Reserve, visit newmarkhotels.com/ places/reserves/motswari-private-game-reserve TO SUPPORT THE RHINO CONSERVATION MOVEMENT: Visit facebook.com/rhinodisharmony

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REAL home

When a Joburg couple decided to redesign their ’70s house, they called in an architect to turn it into their dream home, one that makes them feel like they are always on holiday

South African-born Eddie Santana met his French wife Marie on holiday in Puerto Escondido, a port town on exico’s aci c coast. nd, years later, they would name their dream home in Sandton House scondido. But let’s get back to the beginning, when House Escondido was a dark, poky ’70s face-brick house with loads of potential that the couple wanted to renovate before moving in with their two daughters, ila and ndrea. “It needed to be a more livable space, one with distinct communal and private zones,” says Georg Gass of GASS Architecture Studios, who was responsible for the redesign. “It was a very positive and collaborative experience working with eorg, says arie. “We shared references and ideas of what we loved, and a lot of planning went into the design before we got started.

sp ac e

BREATHING TEXT Lauren Groenewald PHOTOGRAPHS Stephen O’Raw

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Although the bones of the original house were good, it made more sense to demolish the kitchen, lounge and dining room to create a completely new space. he living area’s original roof was also replaced with a mono-pitched version, and new large windows allow light to ood the space. We chose a white emcrete cement based oor, and a combination of wood and steel for the roof structure, says eorg. A patio was removed to allow even more light into the living room, and a new one was built on the side of the open plan living area. One of the building’s most exciting features is

emoh LAER

Shades of white, blue and turquoise punctuate the kitchen, giving it a seaside sensation.

REAL home

the large sliding doors that allow access from the living area to the pool deck so the family can make full use of Johannesburg’s good weather. “It is really special that we can all be together in the open areas without being on top of one another,” says Marie. The house is divided into a bedroom zone in the west wing, with two bedrooms for the daughters, separated by a play room. The en-suite master bedroom has a large man cave, or study. The eastern wing of the house has been opened up to create a large living, eating, lounging and entertaining space. Marie was closely involved in designing the interior, which combines clean lines with beach-house references and wood for warmth. he runs her travel agency from her home o ce in an extension to the original house, connected to a new guest suite. “We use every inch of the space,” says Marie. “This is our dream home, and although we love to travel, we don’t need to go anywhere to be on holiday. We may be in Sandton, but it feels like we are at the beach.” gass.co.za

ABOVE The kitchen and dining area features an eclectic mix of rustic and modern furniture. French country-style dining chairs in shades of blue bring a touch of Provençal living into the home, and bucket stools made of recycled steel, birch and plywood add a contemporary edge. OPPOSITE, TOP Huge glass doors slide into cavities in the walls, opening the front of the house to the pool and garden. OPPOSITE, BOTTOM Wooden details are used throughout the living area to unify the open space and to add texture and warmth.

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REAL home

ABOVE LEFT In the open-plan living area, a double-sided fireplace divides the room into two distinct spaces and makes for cosy evenings during the cold Highveld winters. ABOVE RIGHT The family has both private and common work areas in the bedroom zone. OPPOSITE The design of the house is clean, modern and functional, with an emphasis on uniting the inside and outside.

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REAL home

We love to travel, but we donâ&#x20AC;&#x2122;t need to go anywhere

to be on holiday.

It feels like we are at the beach!

REAL trends

CULINARY

ar ts

Smart kitchen design entails balancing a creative use of colour and surfaces with practical consideration of space and functionality TEXT Julia Freemantle PHOTOGRAPHS Gianni Franchellucci and supplied 1

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REAL trends

LESS IS MORE

. Kitchen cabinets with sleek, handleless doors and drawers are now more widely available thanks to innovative hinges and slides that allow for push-to-open and soft-close mechanisms. They make for a streamlined, clutter-free contemporary kitchen, like this beautifully crafted one by Nordiska. nordiskakok.se

They make for a streamlined,

clutter-free

contemporary kitchen

GO GREEN

1, 3. Green has been a popular shade for a couple of seasons now â&#x20AC;&#x201C; in design in general and kitchens in particular. And for good reason: greenâ&#x20AC;&#x2122;s soothing and versatile nature makes it an easy colour to decorate with, plus it brings an element of nature and the outdoors inside, essential in interior design these days. This Febal Casa kitchen (3) is a vibrant and refreshing emerald shade, paired with wood. In the Scandi-inspired kitchen by Studio Joanna Laajisto (1, on the previous page), muted green meets terrazzo and black accents for a crisp, modern look. eurocasa.co.za, joannalaajisto.com

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THE NEW BLACK

4, 5. Black has been edging its way into kitchens and bathrooms for some time now, but matte black is a more recent trend. Matte surfaces are the way forward when it comes to a blanket use of black â&#x20AC;&#x201C; it has a more earthy feel than OTT gloss. Paired with warm rather than cool lighting, the effect is ultra hospitable, as seen here in this Plascon-painted space (4). Another way to lift and counter the matte black is by pairing it with metallic surfaces, done in this Miele kitchen (5) to spectacular effect. kansaiplascon.co.za, miele.co.za

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REAL trends

TOUCH WOOD

6, 7. Increasingly popular in kitchens, wood can take on whatever characteristics you want it to have – whether rustic or polished and penthouse-friendly. It’s all in the finish and what you partner it with. Two vastly different executions here illustrate the diverse results you can achieve – one country-inspired and traditional from design firm Nordiska (6), and one ultra glamorous from Italian brand Rossana (7). The former’s raw finish gives it rustic appeal, and the latter, paired with metallics, has a high-end feel. nordiskakok.se, eurocasa.co.za

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REAL trends

WARM WELCOME

. Pink, brown, terracotta, orange… Look to these shades as options for background and accent colours. Aside from being on trend, they inject warmth into a room. This Excava surface from Caesarstone’s Metropolitan collection is somewhere between blush and terracotta, and strikes just the right sophisticated yet non-intimidating note. caesarstone.co.za

ISLAND STYLE

. A freestanding island can be a crucial part of how a kitchen functions – not only can it be used for prepping, serving and often washing-up, but it can also be a focal point, which means getting it right is key. Rossana’s K-In (there’s also the K-Out for outdoors) is an ingenious design, with sliding top panels that conceal and reveal. When all the panels are closed, it looks like a monolith that seems to float thanks to the overhang on the burnishedsteel plinth. eurocasa.co.za

Wood can take on whatever

characteristics you want it to have

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REAL trends

CONTRAST IS KING

10, 11. Using a mix of materials or genres adds interest – there’s no two ways about it. Too much repetition is one-dimensional. So, to keep a kitchen interesting, pair things that don’t match: warm with cool, rough and smooth, patterned and plain, old and new, and so on. Here, warm-toned chevron-patterned Appia flooring from Bisazza’s Marmo collection (10) offsets the cool grey, and smooth duco cabinets are complemented by the intricate pattern and marbled backsplash. In this kitchen by Cosentino (11), the industrially inspired Brooklyn Loft countertop from the Silestone collection is paired with painted cabinetry and warm copper pendant lights. bisazza.com, cosentino.com

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REAL trends

FITTING IN

12, 13

. The simplest way to create a seamless kitchen is to have integrated appliances that merge with your decor, making the kitchen easier to navigate and more pleasing to the eye. In this Cesar Maxima 2.2 kitchen (12), a combination of concealed storage, built-in appliances and open shelving forms a harmonious composition. Mieleâ&#x20AC;&#x2122;s line of built-in appliances (13) â&#x20AC;&#x201C; created to enhance the experience of using them â&#x20AC;&#x201C; achieves the ultimate in design coherence. cesar.it, miele.co.za

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REAL trends

OPEN SEASON

. Having kitchenware and accessories on display rather than behind cupboard doors encourages you to curate your utensils and choose pieces that are not only functional but also look good. Valcucine is a past master at slick storage. In this Riciclantica kitchen, the lightness of the doors, fitted into an aluminium structure that is water-, steam- and heatresistant, allows more freedom in designing a kitchen layout using wall-mounted units. valcucinesa.co.za

TAPPING INTO TRENDS

15, 16. A small detail, but an important one, is your choice of taps in the kitchen, not only for their looks but also for functionality. Kohler’s kitchen taps and mixers offer innovation and stylish solutions that make them a pleasure to use. They’re available in various finishes, so you’ll easily find one that matches your kitchen’s design personality. africa.kohler.com

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LIVING IN A SECTIONAL TITLE SCHEME: FRESH ADVANTAGES The Community Schemes Ombud Service Act (CSOS Act) came into effect late in 2016 together with the related Sectional Titles Schemes Management Act (STSM Act). Together, these two pieces of legislation have brought about many changes to sectional title living. How? The note below briefly touches on the new Office of the Community Schemes Ombud.

A COMMUNITY SCHEME OMBUD The CSOS Act established an Ombud to assist with resolving disputes in community schemes. The latter refers to all forms of communal living, including sectional title schemes, homeowners’ associations, share block schemes, retirement schemes, golf estates and the like. The Ombud’s dispute resolution forums are there for all parties in the scheme, be it the management body (for example, the trustees of a body corporate or the directors of a homeowners’ association), or owners and occupiers, on the other hand. Section 37(1) of the Act states unequivocally that “a person may not waive or limit the exercise of rights” in terms of the Act. No community scheme may therefore, in its rules, governance documents or otherwise, oust the jurisdiction of the Ombud Service or prevent its owners, occupiers or members from using its services, after exhausting existing internal rules and dispute resolution mechanisms applicable to the scheme.

HOW DOES THE OMBUD’S PROCESS WORK? Disputes must relate to the administration of the scheme meaning, for example, that issues that are essentially personal battles between owners, cannot be referred to this forum. On receiving an application relating to the administration of a scheme. The office of the Ombud will refer it to conciliation if it is considered that there is a reasonable prospect of a negotiated settlement. If not, or if unsuccessful, the Ombud will refer the dispute to an adjudicator for resolution. At the end of the adjudication process, the adjudicator will grant or refuse the relief sought. Appeal (to a High Court) is only available in respect of questions of law. Remember that referral of a dispute to the Ombud is not obligatory and a party can approach a court from the word ‘go’. This will be advisable where there the dispute of facts and/or legal issue involved is not straightforward. Contact STBB should you require any assistance with the administration of a community scheme, for expert solutions.

The Big Small Firm

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Cape Town Claremont Fish Hoek Helderberg

T: 021 406 9100 T: 021 673 4700 T: 021 784 1580 T: 021 850 6400

Blouberg Tyger Valley Illovo Fourways

T: 021 521 4000 T: 021 943 3800 T: 011 219 6200 T: 010 001 2632

Centurion Bedfordview East London

T: 012 001 1546 T: 011 453 0577 T: 043 721 1234

“If you build it, they will come,” is a quote from the movie Field of Dreams – and it’s a phrase that could well be applied to this container home in Glencairn Heights TEXT Anél Lewis PHOTOGRAPHS Supplied

THE STUFF OF

DREAMS

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REAL home

Initially, the sight of shipping containers perched precariously on the mountain slope had neighbours intrigued, say the creators and current owners of this Glencairn Heights home. Doubt was expressed that it would even be possible to construct a sturdy structure of this rather unusual material. What’s more, the uneven, rocky site did not lend itself to building innovation. But the owners had a vision; and they knew the mountain would have to form an integral part of the design. They did their homework – including extensive research of containerhome construction both in South Africa and elsewhere – to ensure the house would meet National Home Builders Registration Council standards and would be fully compliant. Drone footage and 3-D modelling software allowed for a holistic understanding of the site and the construction challenges. The result is nothing short of inspired. Seven shipping containers have been successfully welded together to create an elevated double-volume structure with 180-degree views of the sea and mountain. Initially viewed with some scepticism, the home now attracts curious visitors who stop to take photographs or chat with

LEFT Glencairn Heights is a quiet suburb between Fish Hoek and Simon’s Town on the Cape Peninsula. OPPOSITE Shipping containers are increasingly being used as a durable building material, and are seen as being on a par with bricks for longevity.

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REAL home

Thereâ&#x20AC;&#x2122;s an overwhelming sense that the design and construction of this home was

a labour of love

ABOVE AND ABOVE RIGHT Three of the four upstairs bedrooms afford panoramic sea and mountain views; not to mention the views from two baths. OPPOSITE The suburbs of Glencairn and Glencairn Heights overlook False Bay.

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the owners about how humble shipping containers can be repurposed into a coastal architectural masterpiece. The aim of the project was to create a home that was not only sensitive to the environment but also consciously made of salvaged materials. Who would have thought that a squash court, part of a pirate ship from a movie set and discarded ag poles from Hout ay could nd a new lease of life in a contemporary home? pcycling is evident throughout from the regon pine oors reclaimed from a property in Stellenbosch to the wood chips used outside that came from stables in Noordhoek. Stairs that curve upwards do so to accommodate a boulder that unapologetically forms part of the interior decor. Glass stacking doors allow an easy ow between the main living area and the stoep. An indigenous garden completes the symbiosis between the living space and surrounding landscape. The clever use of reclaimed materials means that the house exudes a sense of understated luxury. A customised kitchen, with ample space

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for entertaining, has top end nishes. igureheads from a lm set used as frames for bathroom mirrors add a touch of the dramatic. ut it is the breath taking views, even from the baths in two bathrooms, that steal the show. arge windows on both levels allow the magni cent sea and beach vistas to create an ever changing natural backdrop. he house is so close to the shore that the crashing of the waves or the hypnotic sound of whales breathing during birthing season serves as the soundtrack for this coastal gem. n addition to the masterful use of upcycled materials from the beech oors to the balustrades picked up at a local buildersâ&#x20AC;&#x2122; yard it is the overwhelming sense that the design and construction of this home was a labour of love, from conceptualisation to completion, that sets it apart. he house, which is for sale, will appeal to a homebuyer with the same sense of adventure and optimism, someone who sees that thereâ&#x20AC;&#x2122;s beauty beyond the conventional. Not to mention owning what has become a landmark property in lencairn Heights.

FOR SALE Pam Golding Properties is marketing this home in Glencairn Heights for R5.175 million. For more information about this or other exceptional properties in the Simonâ&#x20AC;&#x2122;s Town area, contact Pam Golding Properties area specialist Jeanne Cowan on 083 443 8108.

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FLYING HIGH For the first time ever, LOUIS XIII presents an exquisite 375 ml crystal decanter. Part of the Black Pearl Collection, it contains a rare blend of LOUIS XIII cognac, signature of the cellar André Hériard Dubreuil. Only six of 1498 decanders are available here TEXT Kim Maxwell PHOTOGRAPHS Supplied

There is satisfaction and there is surprise. I experienced a little of both, when I was invited to take a sip of a R50 000 bottle of Cognac at The Stack, a Cape Town private member’s club and restaurant/bar, located in a glorious double-storey historic house. My generous tot of LOUIS XIII was poured into a narrow glass, its crystal grooves expertly cut so that when I looked inside, the shape of a Namaqua Daisy appeared, its sparkling petals lling with amber orange li uid. It tasted of luxury, mellowed, all alcoholic spirit edges eased out. I only discovered the extravagant price tag of LOUIS XIII afterwards. I was too busy enjoying the moment with Jörg Pfützner, the LOUIS XIII private client director for Africa, Middle East and India. 42

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CONTEMPLATING LUXURY AND LIFE “It’s a contemplative drink so the longer you sit with it, the more you will discover,” said Jörg, inviting me to inhale. “It often starts with floral notes: honeysuckle and jasmine, underlying orange marmalade, dark honey, dried fruit and nuts, perhaps the character of leather and tawny port.” Its daisy-shaped crystal base may have assisted, but the nose offered incredible complexity, dried apricots and honey on first sniff. Returning for more rewarded as the aromas changed again. “My suggestion is when you smell LOUIS XIII, try to find your ideal distance from the glass,” said Jörg. I remarked on its gentleness, a silkiness of texture. “You’re drinking time,” said Jörg. “Every aroma and drop builds like a crescendo. You sniff it, it’s a real treat and experience for the complexity and fireworks of flavours.” Opulent yet weightless. Usually a sommelier is not doing their job if a glass remains unfilled. But with LOUIS XIII the objective is to take it slow, to savour and appreciate in tiny sips. Said Jörg: “People say there is a way of drinking LOUIS XIII: drop by drop. It’s important to take your time.” I asked about the name. Turns out LOUIS XIII Classic Cognac was created in France in 1874. It was named after King Louis XIII, the ruling monarch and sort of “protector” who recognised this distilled spirit as something unique, when the Rémy Martin family settled in the region.

LOUIS XIII BLACK PEARL AHD But there is a more recent, increasingly luxe addition to this French family. “It’s glass but looks like chrome. Isn’t it beautiful?” My eyes followed the darker molten glass forming a looping ridge along a curved smaller decanter, its shapes not unlike the curved exoskeleton of an arthropod. This was the Black Pearl. In 2007, the LOUIS XIII Cognac brand partnered with the House of Baccarat to create LOUIS XIII Black Pearl AHD. An extremely limited-edition Cognac, the collection pays tribute to former chairman André Hériard Dubreuil, born 100 years ago. Like its sister Classic Cognac, LOUIS XIII Black Pearl was inspired by a royal flask found on the battlefield of

Jarnac, fought in 1569. Paul-Émile Rémy Martin acquired the flask in 1850. With Black Pearl, size and colour matters. For the first time, LOUIS XIII Black Pearl AHD has been created in a smaller 375 ml crystal decanter. Only 1498 bespoke House of Baccarat decanters were filled, a rare Cognac blend drawn from a single tierçon cask in the family reserve, deep in André Hériard Dubreuil’s cellar. A special plating process adds a unique metallic, translucent effect to glass in the colour of steel, so it glows with the amber of its Cognac inside. “You can see its rarity, how the glass pays tribute to the original metal flask,” said Jörg. Turning the Black Pearl decanter, its reflections flashed silver, black and anthracite. “Everybody has their own personal frame of reference. When you drink LOUIS XIII Black Pearl AHD, it’s about the time it takes to create, and the time you should allow to enjoy it.”

WHY LOUIS XIII COGNAC IS EXTRAORDINARY Master blending Every decanter of LOUIS XIII created is a blend of up to 1 200 eaux de vies, all sourced from Grande Champagne in the Cognac area. The rarest eau de vie spirit components are set aside for several decades. They go into tierçons, pluri-centenial casks that impart minimal oak flavours. Thinking ahead How the LOUIS XIII cellarmaster treats this distilled spirit today is crucial for those in centuries to come. Today’s eaux de vie selections are set aside for future blends of LOUIS XIII. No cellarmaster ever tastes the end result in their lifetime. It’s similar to building a cathedral; the first person will never see it finished. Age Every year, only 1% to 2% of the very best eaux de vies are considered for selection for LOUIS XIII. South Africa On an invoice dated 1881, it states that cases of LOUIS XIII decanters were consigned to Mrs James Scaright & Co of Cape Town. LOUIS XIII was shipped to Africa during that time.

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SPRING 2018

A FEW THINGS ABOUT COGNAC. It’s a very contemplative drink so the longer you sit with it, the more things you will discover. I would drink it neat at the same temperature as a mature red wine, 18°C. It allows you to discover all the different layers in LOUIS XIII and LOUIS XIII Black Pearl AHD. It can also be an aperitif before a meal, because then your palate is more alert. Have an open mind and open heart: let it take you back into your memories. Drink it with mindfulness. Some people have a tiny drop every day. You don’t need a lot to make you happy. OUR PRIVATE CLIENTS ARE SOME OF THE MOST SUCCESSFUL PEOPLE. They have arrived in life; they often have a few homes. LOUIS XIII is now one of the most sought after luxury spirits on the continent. I meet super interesting people who drink it, doctors, engineers, people in art to finance, and a lot of entrepreneurs who run their own businesses. The common theme: they have good taste.

JÖRG PFÜTZNER SAYS

LOUIS XIII can be requested at Norman Goodfellows, Makro and Johnny’s Liquor. In the Cape, try Belmond Mount Nelson Hotel, Nobu at The One&Only, The Stack, Aubergine, Fyn, Overture, Delaire Graff and Leeu Estates. In Gauteng, try Alice & Fifth, Marble, The Globe Bar, The Saxon and The Four Seasons.

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THE RELEVANCE OF 100 YEARS. Each drop is the result of a lifetime of achievements by generations of cellar masters. In 2017 LOUIS XIII asked Pharrell Williams to write a song called 100 years. The single track will be publically released in 2117, the time it takes to craft every decanter of LOUIS XIII Cognac. The song was recorded on a special vinyl, put in a special time-locked safe that no key or code will open. The reason we went on this artistic adventure is because LOUIS XIII is about thinking a century ahead. Each decanter is the life achievement of generations of cellarmasters. This is why the official release of the track will be in 2117. The vinyl is made from the clay soil of LOUIS XIII vineyards. The safe is not only working as a time lock, but is vulnerable to water. If climate change predictions are correct, most of France’s vineyards will be under water by then. So it’s a call to action about global warming and to create mystique. Everything today is about instant gratification but LOUIS XIII is about delayed gratification, and helping #onlyifwecare to combat global warming.

REAL wealth

TEXT The Wealth Report 2019, Knight Frank PHOTOGRAPHS Supplied

RECORD BREAKERS

The data providers for the Knight Frank Luxury Investment Index 2019 share their thoughts on the past and future performance of some of the most popular asset classes in the Index; and we include details of the standout auction sales of the past 12 months for each category reallifemagazine.co.za

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Values for certain old vintage rarities of single malt Scotch whisky

soared past previous records, achieving almost unimaginable new auction highs

REAL wealth TOP SALES 2018 ART Portrait of an Artist (Pool with Two Figures) by David Hockney. Sold by Christie’s for $90 million. Most expensive work by a living artist. WHISKY A bottle of The Macallan 1926, hand-painted by Michael Dillon. Sold by Christies for $1.5 million. Most expensive bottle of whisky.

CLASSIC CARS

ART

Dietrich Hatlapa, HAGI

Veronika Lukasova-Duthy,

The HAGI Top Index for rare classic cars, which includes 50 models from 19 marques, rose almost 2.5% in 2018. However, not every marque recorded an increase. Porsche, for example, fell on average by 6.5%. Highlights of the year included the sale of two 1960s Ferrari 250 GTOs for $48 million (an auction record) and $70 million (privately). A 1935 Duesenberg Model J, once owned by actor Gary Cooper, was auctioned for $22 million, a record for a pre-war car. But records aside, the real story of 2018 is the return to moderate market turnover after the classic car bull run of 2012–15, as well as a shift from agency sales to private networks. A survey of HAGI members revealed that more than 70% of recent transactions were agreed among “friends”. The most influential group in the market remains knowledgeable collectors, and their asset allocation preferences have changed. No new money was allocated to portfolio expansion in 2018, only to upgrading or replacing existing holdings. In addition, many new entrants who joined the market five years ago have now exited. As a result, there are a lot of opportunities for buyers in the current market. The sell-through rate at the first major auctions of 2019 showed demand remains strong. But pricing is clearly key, with many lots failing to make their mid-estimates.

Art Market Research Record-breaking sales at Sotheby’s and Christie’s last November capped another impressive year for the big auction houses. In New York, the Christie’s $833 million spring sale of 1 500 objects belonging to the Rockefeller estate was the highest auction total ever for a single collection. The sale produced individual artist records for Henri Matisse and Diego Rivera, but may be remembered more for the huge media attention it gained worldwide. Social media marketing is vital to auction houses at a time when profits for big-ticket sales are increasingly split with thirdparty guarantors. The $90 million sale in November of David Hockney’s iconic work Portrait of an Artist was also surrounded by huge media attention and produced another record, this time for a living artist. Sotheby’s also set its fair share of records. In London in October, Jenny Saville’s Propped sold for $12.5 million, more than doubling its estimate and breaking the record for a woman artist. A month later, The Businessmen by Jacob Lawrence tripled its estimate, selling for $6.2 million in New York. Works by African-American and women artists have long been considered undervalued, but this level of interest may have taken even the experts by surprise. I expect the trend to continue.

JEWELLERY The Marie Antoinette pearl pendant. Sold by Sotheby’s for $36 million. Most expensive piece of pearl jewellery sold at auction. WATCH 1970 Rolex Daytona “The Unicorn”. Sold by Phillips with Bacs & Russo for $5.9 million. Most expensive watch sold at auction. CLASSIC CAR 1962 Ferrari 250 GTO. Sold by RM Sotheby’s for $48.4 million. Most expensive car sold at auction. WINE Bottle of 1945 Romanée-Conti. Sold by Sotheby’s for $558 000. Most expensive bottle of wine sold at auction. STAMPS 1918 Jenny Invert 24 cent. Sold by Robert A. Siegel Auction Galleries for $1.6 million. Most expensive US stamp sold at auction. COINS 1621 Polish gold 100 ducat. Sold by the Classic Numismatic Group for $2.2 million. Most expensive Polish coin. COLOURED DIAMONDS The Winston Pink Legacy, 19-carat fancy vividpink diamond. Sold by Christie’s for $50 million. Most expensive pink diamond per carat. FURNITURE 1766 Chippendale commode with ivory inlays sold previously in 1991 for £935 000, a record price for a piece of English furniture. Offered for auction by Christie’s with the inlays removed due to new legislation and an upper estimate of £5 million. Failed to sell.

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WHISKY Andy Simpson, Rare Whisky 101 Last year was a transformational one for rare single-malt Scotch whisky. One bottle set a new world record of £700 000 in October, only to be beaten a month later by one that sold for £1 million before the buyer’s premium. Both were bottles of The Macallan distilled in 1926. Values for certain old vintage rarities soared past previous records, achieving almost unimaginable new auction highs. The Knight Frank Rare Whisky 100 Index (KFRW100), which contains 100 bottles of the world’s most desirable rare Scotch whisky and tracks UK auction prices, increased by almost 40% through 2018. However, 21 bottles in the KFRW100 did lose value last year. The bottom 10 would have cost £25 410 at the end of 2017; by the end of 2018, that figure had shrunk by 27% to £18 670. As with all investments, the potential for punishing losses is very real. Looking to 2019, we see prices continuing to harden for the right bottles from the right distilleries, as well as increased interest in more affordable bottles from the second tier. But certain pockets could see a correction. To some extent we saw that with The Macallan 18-year-old index, which fell by 2.9% in 2018. This followed a 142% increase in 2016 and a further 35% increase in 2017, so perhaps an adjustment was to be expected. From a risk perspective, we believe the incidence of fakes can only increase while prices are so high and demand so robust.

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WINE Nick Martin, Wine Owners

COLOURED DIAMONDS Oren Schneider, Fancy Color Research Foundation advisory board member Last year was a fairly positive year for fancy coloured diamonds, and we continue to see pricing stability. Prices across most colours and sizes rose slightly on average, even though the Chinese economic slowdown caused a decline in the number of fancy colour diamond retail transactions. At the top price points, where supply is permanently short, values were practically unaffected. Traders are holding firm, projecting an improved trading environment in the second half of 2019. In terms of colour, blue diamonds were the top performers in 2018, with yellow values weakening slightly and pinks remaining stable. Fancy intense blues performed particularly strongly, with some sizes rising in value by almost 12%.

Just when we thought the limits at the top of the market were being tested, 2018 saw further rapid price escalation for Burgundies, notably top Grands Crus from the “Rs” (Raveneau, Romanée-Conti, Roumier and Rousseau), driving our Burgundy index up 33%. Sotheby’s October sale saw a single bottle of Romanée-Conti 1945 fetch $558 000 – somewhat higher than its upper estimate of $32 000! The sale highlighted the potential premium the market is prepared to pay for impeccable provenance. The maturing Asian fine wine market places a heavy emphasis on history and cosmetic condition. It’s hard to predict where the top end of the market will go from here, but it’s likely this pattern of polarisation favouring blue-chip wine from top producers will continue, with prices accelerating, in particular as the wines approach their drinking windows. On a longer-term view, collectors will want to continue to buy into those young and upcoming Burgundy and Piedmont producers who have the best-located vineyards. Outside France, our Californian index (up 17.5% in 2018) continues to push ahead, driven by a mix of scarcity, local demand, direct-toconsumer models and, of course, intrinsic quality. It’s also nice to see that undervalued, accessible Spanish Riojas are enjoying a resurgence, with the great estates of Tondonia and CVNE setting the pace.

REAL wealth

Notes: All data to Q4 2018 except stamps (Q4 2017) and watches (Q2 2018). Reflecting demand, we have replaced Chinese ceramics with rare whisky. Following the decision of Stanley Gibbons to cease its coin and stamp indices, this data is now provided by Art Market Research. Art is now based on the Art Market Research All Art Index, which tracks 10 000 painters. Sources: Compiled by Knight Frank Research using data from Art Market Research (art, jewellery, watches, stamps, coins, furniture), the Fancy Color Research Foundation (coloured diamonds), HAGI (classic cars), Rare WhiskyÂ 101 (whisky) and Wine Owners (wine).

REAL luxury

M ilMEASURE l ionair esâ&#x20AC;&#x2122;

TEXT Kim Maxwell

OCTOBER 2018

PHOTOGRAPHS Supplied

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REAL property

There is movement in the superluxury home market as some of the ultra-rich shift their focus south Sales of ultra-exclusive apartments and villas in South Africa are picking up as discerning buyers seek out destination homes. he tlantic eaboard price bubble de ated when luxury residential property sales cooled off. ut research suggests that the tide is slowly shifting and luxury coastal homes priced upwards of million are selling again. ape own ranks as one of the world’s preferred ultra luxury property destinations in . n night rank’s he Wealth eport , the city is agged as a top performer for prime residential growth in , ranking as a preferred super luxury property destination for ultra high net worth individuals HNW s . hese fortune rich individuals typically have a net worth of million, excluding their primary residence.

CALLING CAPE TOWN

Madrid

Berlin

Paris

Cape Town

The annual publication tracks price movements across 100 luxury residential property markets. Madrid, Berlin, Paris and Cape Town all top Knight Frank’s 2019 luxury residential property forecasts with 6% growth. Those key European cities, plus Cape Town, lead with the highest predicted luxury residential growth for 2019. Liam Bailey, Knight Frank’s head of Global Research, singles out the four cities as increasingly popular investment hubs for Europeans this year, with a growing Chinese buyer presence. Pam Golding Properties chief executive Dr Andrew Golding says their sales in the upper-end residential market support a focus south. “Cape Town remains South Africa’s top-performing market. This is not surprising, as the Mother City is seen as a truly global city, with a growing international profile and long-term appeal, and technological innovations placing it on a par with its international counterparts,” he says. “Unlike other metro housing markets in South Africa, the geographical limits mean that Cape Town is an expensive – not expansive – housing market. However, it remains extremely affordable to foreign buyers.” These international buyers can easily afford a R25 million or R30 million Cape Town home, comparable to the price of a one-bedroom flat in Mayfair, London. The demographic might also include Johannesburg buyers in search of exclusive Cape homes, where R15 million to R40 million is a common budget. Cape Town’s performance is ranked 28th globally of 100 cities in the Prime International Residential Index (PIRI 100) for 2019, showing a 3.8% annual increase. The Knight Frank PIRI 100 tracks the value of 100 luxury residential markets annually. It suggests a small but increasing movement in luxury residential price growth in Cape Town – movement that often kicks off on the Atlantic Seaboard.

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EXCLUSIVITY IN DOUBLE FIGURES Val de Vie Estate near Paarl is also seeing double-figure movement. “Although the local property market has been under pressure for the past six months, the demand for properties on Val de Vie Estate exceeding R20 million has shown no sign of slowing down,” says the estate’s group marketing director Ryk Neethling. “We find that these purchases are mostly cash. “We recently sold a vacant stand – a Gentleman’s Estate – for R30 million, and the buyer plans to build a house. It hasn’t registered in the deeds office yet,” says Neethling. He estimates that more than 20 homes currently being constructed on the estate will exceed R40 million per home. None are available for resale yet. “The market interested in ultra-luxury homes on Val de Vie Estate is not constrained by interest rates or markets in other metropolitan areas. We have also seen a healthy interest from overseas buyers looking to buy primary and secondary homes,” he adds.

ABOVE Demand for homes at Val de Vie Estate, where price tags exceed R20 million, has shown no sign of slowing down.

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REAL property

ATLANTIC UPTICK “Our Atlantic Seaboard office concluded exceptional sales of more than R300 million for February alone,” says Dr Golding of the renewed activity in the upper tier of residential property. “This includes a number of top-end properties fetching prices in excess of R25 million and even upwards of R35 million, located in perennially sought-after Camps Bay and The Water Club in Granger Bay – which is just 1 km from the V&A Waterfront.” The reasoning? “This sector of the market has definitely picked up, with increased movement in correctly priced properties, while international buyers are also more active,” says Dr Golding. “Properties in this higher price band are perceived as iconic properties with unique features, which enhances their appeal as an asset class within an investment portfolio.” “There is no doubt that prices on the Atlantic Seaboard have adjusted downwards in the first major correction in the past 20 years,” confirms Basil Moraitis, Pam Golding Properties area manager for the Atlantic Seaboard. “But this has presented a significant opportunity for the savvy buyer who wishes to acquire a strategic asset.” “Our impressive list of sales for properties of more than R20 million, concluded in the past few months, clearly demonstrates the confidence placed in this market by the astute buyer. And reconfirms the desirable lifestyle offering.”

ATLANTIC SEABOARD SALES DURING 2018/2019

R37 million

R36 million

8 Top Road, Fresnaye

40 Atholl Road, Camps Bay

R32 million

R30.5 million

36 Biscay, The Water Club, Granger Bay

19 Avenue Normandie, Fresnaye

R28 million

201 Clifton Terraces, Clifton

5 Bali Cove, Bakoven

Source: Pam Golding Properties

ABOVE LEFT A prime threebedroom apartment in The Water Club, Granger Bay – between Mouille Point and the Waterfront – sold for R32 million. LEFT Pam Golding Properties sold this five-bedroom house in Atholl Road, Camps Bay, for R36 million.

REAL property

NORTH COAST ULTRA-LUXE In KwaZulu-Natal, Pam Golding Properties Umhlanga recently sold a frontline property priced in excess of R25 million. Umhlanga area principal Gareth Bailey says value is key across all sectors. “Now more than ever, developers need to differentiate their product at the top end of the market.” Charles Thompson of DEVMCO development management says despite a general tightening, there has been positive residential movement in recent months. “The niche, ultra-luxury residential market has improved incredibly over the past few years, specifically property on KwaZulu-Natal’s North Coast,” he says. “Factors that have no doubt contributed are a prime beach location, the proximity to amenities and, mostly, proximity to the airport.” DEVMCO is the developer of Ocean Dune Sibaya, Pebble Beach Sibaya and Gold Coast Estate Sibaya. “The ultra-luxury residential properties that we have seen go have not been difficult sales – these people know what they want and where they want to live, and that they are buying into something they will benefit from in the long term,” says Thompson. In Gold Coast Estate Sibaya, 29 plot-and-plan sales have been concluded, ranging from R12 million to R30 million, and building commences in August 2019. In Pebble Beach, a buyer paid more than R12 million for a penthouse unit. At Ocean Dune Sibaya, apartments and penthouses recently sold for R12.5 million, R14.5 million, R17 million and R17.5 million each. “We are seeing buyers that are local, predominately Durban professionals and business owners. A small percentage of buyers come from Johannesburg,” says Thompson. Elaleni Coastal Forest Estate is located in the vicinity of Sheffield Beach and Ballito, 30 km north of Umhlanga. Devon de Lange, sales director of Dwell Properties at Elaleni, says this boutique estate development has 18 high-end designer homes under construction. “During the first quarter of this year we’ve experienced several record land sales north of the R3 million price tag, resulting in land and build costs in the region of R10 million to R15 million,” he says. De Lange reports that Elaleni’s Lush Condos have successfully sold more than 60 of 90 apartments and villas. “Lush Condos has been the first sectional title development to achieve selling prices in excess of R25 000/m2 in the greater Ballito area,” he says. “There are a handful of select areas and estates in South Africa that are achieving ultra-luxury price points. From privacy, to erf size, to facilities, to exclusivity. These are points where Elaleni ticks the boxes.” For the UHNWI buyer, paying a premium for something rare is what it is all about.

HOW MANY SQUARE METRES OF PRIME PROPERTY DOES $1 MILLION* BUY IN KEY CITIES?

22 m2 Hong Kong

31 m2 New York

46 m2 Paris

52 m2 Sydney

73 m2 Berlin

177 m2 Cape Town

OPPOSITE TOP At Pebble Beach Sibaya, a penthouse unit recently sold for more than R12 million. OPPOSITE BOTTOM Elaleni Coastal Forest Estate has 18 highend designer homes currently under construction.

Source: Dr Andrew Golding, CEO, Pam Golding Properties

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REAL propertry

PRIME PROPERTY IN JOHANNESBURG The market is a little quieter up north, except in some of Johannesburg’s leafier suburbs, such as Illovo, which is conveniently located between Joburg’s business hubs Rosebank and Sandton. In 2018, Pam Golding Properties sold a luxury five-bedroom Illovo home, designed by architect Vageli Zervogiannis of Zaarc, for R22.5 million. The Houghton CEO Arnold Forman says this custom-built luxury development has a reputation as one of the city’s prime residential destinations, at the forefront of precinct and resort living. “The penthouses include a magnificent roof-top terrace, pool, jacuzzi, and private entertainment area, offering exquisite views over the Jack Nicklaus Signature golf course,” he says. “The Houghton’s smaller penthouses, ranging in size from 265 m2 to 838 m2, start from R12,99 million. “The company sold a couple of penthouses between 2018 and 2019. It currently has a 1 500 m2 penthouse listed for R80 million.”

ABOVE This architect-designed Illovo home sold for R22.5 million in 2018. BELOW The Houghton penthouses include a magnificent roof-top terrace, pools, jacuzzis and a private entertainment area offering exquisite views over the Jack Nicklaus Signature golf course.

HERITAGE AND LUXURY Unique features and state-of-the-art facilities set the new Paardevlei Lifestyle Estate apart Following the success of The Jade and Paardevlei Square, Balwin Properties’ prestigious new development, Paardevlei Lifestyle Estate, has already achieved the highest accolade in the International Property Awards’ Development Apartment category for the Africa region – first in 2016 and again in 2018. Situated in the bustling, up-and-coming Paardevlei Precinct in Somerset West, Paardevlei Lifestyle Estate is designed with sheer luxury in mind. Home to magnificently restored Herbert Baker Crescent Houses, priced from R4.99 million, Paardevlei Lifestyle Estate also offers modern three-bedroom, two-bathroom apartments, priced from R1.89 million. Characterised by contemporary design, these open-plan apartments feature SMEG appliances and exquisite views of the Hottentots Holland and Helderberg ranges. Utilising the expertise synonymous with Balwin developments, Paardevlei Lifestyle Estate breaks the mould with its additional superior elements. “These include elevators, basement parking, landscaped courtyards and storage, along with other key lifestyle facilities such as a private gym, a concierge service, a laundromat, a restaurant and a swimming pool,”

says Balwin Properties CEO Steve Brookes. “We identified the Paardevlei Precinct as one of the prominent and affluent areas within the Western Cape, as it offers easy access to renowned wine farms, topquality schools, Cape Town International Airport and the University of Cape Town. With property prices exploding in the centre of Cape Town, where apartment prices range from R2 million to R15 million, we understand that families and students in and around Cape Town, as well as international investors, are looking for something more affordable, yet close to all the popular and necessary amenities.” Key to the desirability of Paardevlei Lifestyle Estate is the fact that residents can enjoy a secure outdoor lifestyle with the benefit of exclusive access to the Lifestyle Centre, which is right on their doorstep. Family time can be enjoyed in the shade of trees, in picturesque picnic “pockets”, or strolling along the paths through the estate. “Paardevlei Lifestyle Estate has been designed with modern living, practicality and luxury in mind, and we are proud to introduce this unique offering to the Western Cape market,” says Brookes.

CONTACT Property Executive Shannon Kavanagh Tel: +27 (0)21 020 0849 | Mobile: +27 (0)72 571 8736 Email: shannon@balwin.co.za | Website: www.balwin.co.za

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In its exploration of the movement of wealth around the world and the uctuations of the worldâ&#x20AC;&#x2122;s luxury residential property markets, night rankâ&#x20AC;&#x2122;s he Wealth eport notes that demand for second passports and residencies continues to grow. he eport, which provides a global perspective on prime property and investment, reveals that of ultra high net worth individuals HNW s people with a net worth of more than million, excluding their primary residence already hold a second passport, up from , with planning to emigrate permanently, up from last year. s more outh fricans than ever are looking for alternative lifestyle and property investment opportunities overseas for reasons such as safety and security, education, travel freedom, and tax and citi enship incentives more countries are encouraging foreign direct investment in return for citi enship.

In the 2019 edition of Knight Frankâ&#x20AC;&#x2122;s The Wealth Report, Moldova and Montenegro have been added to the list of wealth havens that offer citizenship and residency through investment schemes. We look at these and other popular offshore investment destinations such as Malta, Cyprus, Portugal, Mauritius, the US and the UK.

OPPOSITE At the end of 2018, Montenegro launched a scheme offering citizenship to up to 2 000 foreigners in return for investment over three years to help speed up economic development. Montenegrin passport holders enjoy visa-free travel to about 120 countries.

he only investment programmes worth considering are those that uphold high standards of due diligence and are free of corruption, says manda mit, managing partner at Henley artners outh frica. hese are the ones that draw credible, wealthy and talented individuals with valuable business networks and entrepreneurial expertise to a country, enriching its social and economic capital. reallifemagazine.co.za

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MOLDOVA

MONTENEGRO

WHY? Visa-free or visa-on-arrival access to 121 destinations. Full citizenship for the applicant and included family members.

WHY? The country meets growing demand from African investors for European options. It offers citizens access to 123 destinations.

HOW? To qualify for citizenship, the main applicant must be over 18, meet application requirements, and make a minimum nonrefundable contribution to the Public Investment Fund of ¤100 000.

HOW? Options include a ¤250 000 investment in a less-developed area or a ¤450 000 investment in a developed area. Government will direct an additional ¤100 000 application fee to a fund for underdeveloped areas.

USA

ANTIGUA AND BARBUDA

WHY? The EB-5 Visa Program enables eligible immigrant investors to secure permanent residence in the US for them and their immediate family members. Children under 21 (on the day of the application) qualify. HOW? The minimum investment amount is $500 000 in a targeted employment area or $1 million, depending on project location, and at least 10 jobs must be created.

WHY? Passport holders may travel to Hong Kong, Singapore, the UK and Schengen countries, among others. HOW? Pay a minimum of $100 000 (nonrefundable) for a family of four via the National Development Fund (NDF), invest $400 000 in an approved real-estate project (to be held for a minimum of five years), or invest $1.5 million in an eligible business.

GRENADA

PORTUGAL

WHY? Grenada is one of the friendliest and safest islands in the Caribbean. Citizenship offers travel freedom to the UK and Schengen Area, and eligibility to apply for a US non-immigrant visa. Citizenship may be passed down to future generations without restriction.

WHY? Portuguese residency offers the right to study or work in Portugal; visa-free travel in the Schengen Area; and eligibility to apply for citizenship after six years.

HOW? Investment in government-approved real estate to a minimum of $350 000, to be held for at least three years.

HOW? Invest ¤500 000 in real estate or ¤350 000 if the property is older than 30 years in an area of historical significance or urban regeneration. This is a hard-currency investment with solid returns and good long-term appreciation prospects.

RESIDENCY vs CITIZENSHIP Residency allows a person to live, work and study in a specific country, but it is usually linked to property ownership and could have other conditions, too, such as language tests and minimumstay requirements. Residency is also usually renewable, and is therefore riskier in terms of legislation changes. Citizenship gives full citizenship rights, such as living, working and studying in that country or the jurisdiction it is part of, such as the EU. These rights could include access to all benefits, such as health care, education and the right to vote. Citizenship is usually given for a lifetime, and will often also include citizenship for children and grandchildren. – Nadia Read Thaele, director at LIO Global, World Residence and Citizenship

CYPRUS

MALTA

MAURITIUS

WHY? London is expected to remain the leading global wealth centre in 2019. According to The Wealth Report 2019, those moving to the UK temporarily may qualify for the favourable “nondom” tax regime.

WHY? Flexible options with no residence required. Securing an EU passport in six months is the biggest pull. Its strategic location near Europe, Asia and Africa has contributed towards its development as a financial centre.

WHY? Citizens have the right to enter, work and live in any of the 28 EU countries and Switzerland through the Malta Individual Investor Programme.

WHY? The best place in Africa to do business, strong democracy and political stability, low cost of living compared with Europe, extremely tax-efficient, continued infrastructure growth aiding business expansion, and property value expected to grow by 40% in the next decade.

HOW? After five years of continuous residence, the investor may apply for Indefinite Leave to Remain in the UK. Then they can apply for citizenship within one year. Conditions apply.

HOW? Property investment of a minimum of ¤2 million secures citizenship for the investor and spouse, their parents, and dependent children up to the age of 25.

HOW? Contribute ¤650 000 to the National Development and Social Fund and acquire real estate for a minimum of ¤350 000 or lease an immovable residential property for five years or more for a minimum of ¤16 000 per year.

HOW? Real-estate investments over $500 000 qualify the investor for permanent residency.

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REAL investment RESIDENCE “Global families – and their businesses – today span countries and even continents,” says Dr Christian Kälin, group chairman of Henley & Partners. “Acquiring alternative residence or citizenship is a means of participating in and moving through this interconnected world with greater ease, and we expect that the value of this kind of mobility and access will only increase as the tendency towards isolationist, immigrationhostile policies becomes more prominent worldwide.” Some of the most popular destinations for South Africans are Portugal, Mauritius, Malta, Cyprus, Grenada, and Antigua and Barbuda, all of which have the added attraction of an island or coastal location. James Bowling, international CEO and founder of Monarch and Co, says the three most popular countries for South African investors are Portugal, Grenada, and Antigua and Barbuda.

PASS THE PORT Portugal is a leading migration destination for South Africans drawn by the prospects of a strong return on investment, residency, potential citizenship, quality of life and freedom to travel in the Schengen Area. Lisbon, Cascais and Porto are still the favourites for property investment and good long-term value. “In the super-prime areas of Lisbon, a threebedroom apartment would cost upwards of ¤2 million, about ¤9 000/m2, whereas something similar in Porto would cost about ¤1.3 million, or ¤6 000/m2,” says Chris Immelman, MD of Pam Golding International. “However, you could still find something just off super prime, so still very good, for under ¤1 million in Lisbon and below ¤800 000 in Porto. Most South Africans will spend between ¤500 000 and ¤800 000 – mostly for a one- or two-bedroom apartment in a good area.”

ISLAND LIFE In Mauritius, now ranked 20th among 190 countries by the World Bank for ease of doing business, people who invest in property for a minimum of $500 000 gain residency and can open a company on this “paradise island” off the east coast of Africa. Registration takes as little as two hours. The Economic Development Board Mauritius highlights the country’s rank among 51 upper middle-income economies, ahead of countries like

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Canada (22), Germany (24), France (32), Japan (39) and China (46). The top five countries in Africa are Mauritius (20), Rwanda (29), Morocco (60), Kenya (61) and Tunisia (80) – with South Africa ranked 82nd. Mauritius is ranked 31st for visa-free access in the Henley Passport Index 2019, with Portugal and the UK fifth, the US sixth and Malta eighth.

SAFETY AND SECURITY One of the top drivers of a country’s wealth is safety and security, especially of women and children. New World Wealth rates Mauritius, Botswana and Namibia as the safest countries in Africa, and Malta – an archipelago in the central Mediterranean – the second-safest country for women. “Most of the countries in our top five are popular destinations for migrating HNWIs. Also, most have experienced strong wealth growth over the past 20 years,” say the authors of the New World Wealth Woman Safety Review, published in October 2018. The report rates safety as “one of the best ways to gauge a country’s long-term wealth growth potential, with a correlation of 92% between historical wealth growth and woman safety levels.”

POTENTIAL Cyprus, the third-largest and third-most-populous island in the Mediterranean, is an attractive option for those who want to obtain a European passport in six months. When you acquire citizenship under the Cyprus Citizen-by-Investment Programme, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent. The cost? A minimum of ¤2 million, a bit steep for most South Africans.

ACCESSIBLE “In Portugal, it will take you the best part of six years to get an EU passport, but it’s the best investment you’re going to make in mainland Europe,” says Immelman. “It’s easily accessible, English is widely spoken, and it’s a developedworld environment. It’s cheaper to live there than in Greece or Spain, and they’ve got unemployment below 6%.” The Maltese government requires you to make a substantial non-refundable donation (about ¤850 000), as well as buy an apartment and not let it for five years. An investment in Malta is rewarded with EU citizenship in about two-anda-half years.

ABOVE Mauritian residents love the relaxed island lifestyle in a tropical paradise that boasts some of the worldâ&#x20AC;&#x2122;s best beaches. ItÂ was one of the most popular destinations for migrating HNWIs in 2018. BELOW In Portugal, residents only pay tax if they spend more than 183 days per year in the country.

ABOVE South Africans looking to diversify their real-estate portfolios can get a very respectable bang for their buck in Cyprus. BELOW Malta has a stable economy that continues to experience robust growth and increasing property values. English is widely used in business, so there are no language requirements linked to the application for citizenship.

REAL investment MICROSTATES “For microstates with small economies, the benefits of citizenship and residency by investment programmes can be substantial,” says Dr Kristin Surak of the School of Oriental and African Studies, University of London, in Knight Frank’s The Wealth Report 2018. “In certain Caribbean islands, programme revenues account for up to a third of GDP.” She says the potential profitability of these programmes has led to investment migration policies spreading, allowing small economies to formalise and scale up previous informal offerings of residency and citizenship. “Nonetheless, the overall effectiveness of the programmes depends on how funds are used,” says Dr Surak. “They may be spent responsibly to support long-term economic growth, along with educational opportunities, medical facilities, pensions and other forms of social support, but such assurances are typically not written into the policies themselves. Whether the programmes deliver the benefits they promise is a question of implementation and oversight.”

CARIBBEAN In the Caribbean, Grenada is one of the top options for South Africans seeking a foreign bolthole. Dubbed the Spice Isle because of its plentiful nutmeg plantations, it is home to about 100 000 people. Grenada is the only Caribbean country with a citizen-byinvestment programme that offers visa-free access to China. Grenadian citizens can also apply for a USA E-2 Investor Visa, which entitles them to start a business and live in the US. In Antigua and Barbuda (from the Spanish words for “ancient” and “bearded”), located where the Atlantic Ocean and Caribbean Sea meet, it’s possible to gain citizenship after living in the country for seven years continuously. It has one of the best education systems in the area as well as the most modern hospital of all the Caribbean islands.

LONDON CALLING “London has long been a magnet for South African property investors,” says Mike Smuts, MD of Smuts and Taylor. “Although the UK’s divorce from the European Union (EU) has been anything but smooth, and while there are concerns over the potential economic

ramifications of its departure from the EU, investors are not quitting the UK property market just yet.” Many opportunistic investors will continue to snap up distressed assets available at a discount, thanks to a combination of lower asking prices and a weaker sterling, as well as the low cost of borrowing. “In 2019, there will inevitably be headwinds for the property sector against a backdrop of Brexitrelated uncertainty, but this is a relative concept when compared to political and economic uncertainty on the domestic front,” says Smuts. Amanda Smit of Henley & Partners says the UK housing market is still experiencing significant volatility, but adds that analysts agree it will not be long before house prices begin to rise again.

AMERICAN DREAM The EB-5 Visa Program, also referred to as the EB-5 Immigrant Investor Program, makes it possible for South Africans to gain lawful permanent residence in the US with an investment of $500 000 in a commercial venture. Permanent residency becomes an option after five years. Pam Golding International will partner with American Investor Immigration Law LLC (or AII Law) to present opportunities to South Africans eager to pursue that soughtafter Green Card. “AII Law has successfully completed more than 30 EB-5 developments, enabling hundreds of people to become American residents and citizens,” says Immelman. “However, indications from the US Government are that the entry requirement for this programme will increase to $1 million during 2019, so time is of the essence. There’s definitely going to be traction, as soon as South Africans understand what it’s about.” A key legal requirement is that an EB-5 investment be considered “at risk.” That means the investment funds must actually be invested in the project and the funds must be available to be used for business purposes upon approval. “At risk” also means that the investment capital cannot be guaranteed. “That is why project selection in EB-5 is so critical for investors – if their investment must be at risk, they would be wise to select an investment project that is as secure as possible,” says Immelman.

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Grenadan citizenship offers

travel freedom

to the UK and Schengen Area, and eligibility to apply for a US non-immigrant visa

Country

Passport ranking

Countries offering visa-free access

Minimum capital requirement

Portugal

186

¤350 000

Malta

183

¤1 million

Cyprus

173

¤2 million

Antigua and Barbuda*

150

$100 000

Mauritius

146

$500 000

Grenada*

144

$150 000

Source: Henley Passport Index *Excluding fees. Calculated if the client does not purchase real estate but makes the required government contribution.

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AFRICA IN VOGUE We catch up with Suzy Menkes, editor of Vogue International, who recently presented the Condé Nast International Luxury Conference 2019 in Cape Town

YOU FOUNDED THE LUXURY CONFERENCE CONCEPT IN 2001, AND IT IS THE FIRST TIME YOU PRESENTED IT IN AFRICA. WHY NOW? The CNI Luxury Conference has travelled the world – from Europe to the Middle East to Asia. The event changes city and theme each year, and we at Condé Nast International thought it was high time we took the event to the African continent. We recognise that is has become a new and exciting frontier to the ever-changing concept of luxury. WHAT DID YOU HOPE TO ACHIEVE WITH THIS CONFERENCE? The focus of the conference, with the theme “The Nature of Luxury”, was to explore the creative talent on the continent and the role and increasing importance of sustainability, while examining the broader landscape of the global luxury market. We brought together leaders and decision makers from both the international and African luxury and creative communities to foster new conversations and collaborations. With its majestic mountain towering above the city and beautiful coastline, Cape Town was an extremely attractive location in which to discuss the topics that really matter to the global luxury industry. YOU’VE PRESENTED MANY CONFERENCES WITH MANY THEMES OVER THE YEARS. IS THERE A SPECIFIC ONE THAT STANDS OUT? It’s a difficult question to answer, as the conferences differ vastly – each has a different focus as the luxury industry moves on. Every year, we find a location that is not only intriguing but is also, we believe, on the cusp of emerging in the luxury and fashion space. suzymenkesvogue.com

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Real|life Winter 2019 ( Issue 59 )

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