Business Day Home Front 14 August 2015

BusinessDay

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FRIDAY, AUGUST 14 2015

HOMEFRONT PAGE 2

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DEVELOPER ENGAGES WITH SEA POINT

CASH IN ON THE STUDENT HOUSING WAVE

PAGE 14

PAGE 12

DESIGN AND ARCHITECTURE TRENDS

TOKYO PROPERTY MARKET UP

Rate hike hitches

CONTINUED ON PAGE 6

In a cycle of rising interest rates, renting can be the sweeter and smarter option for consumers. Should buyers push through the pain or reach for the rent?

WORDS: DAVID A STEYNBERG :: PHOTOS: PAM GOLDING PROPERTIES

UNIQUE FRANCHISE OPPORTUNITIES AVAILABLE! GET YOUR FUTURE IN GEAR WITH AN ADRIENNE HERSCH PROPERTIES FRANCHISE! For more information contact Jacques Harmse +27 (0) 11 728 7013 franchise@ahprop.co.za WWW.AHPROP.CO.ZA

LIFESTYLE

Friday August 14 2015

LIFESTYLE

Building Blok

“We’re interested in urban living at large, so we’re eager to see how people will engage with the space and what their needs are. Blok believes strongly that home shouldn’t stop at the front door and that the community you live in is an extension of it” Jacques van Embden, MD, Blok

Urban property developer Blok’s ethos is all about engaging with potential clients in novel ways and investing in the neighbourhoods where they have developments WORDS: GENEVIEVE PUTTER :: PHOTOS: JULIA MERRETT

Blok by numbers

69

flats across five developments

R400m

in sales since September 2014

18,500m2

under development

325

tips of rubble removed from the TWELVEonV site in Bantry Bay. All hard rubble is recycled to make aggregate for concrete. Other items on site (copper, wood, old door and window frames) are either recycled or sold

S

ince Blok launched just less than a year ago it has been innovating in the urban property development space. Its holistic approach involves building slick residential blocks and selling them, but then instead of up and leaving for the next project, the company stays on to engage with the neighbourhood.

Blok’s new show space in Sea Point is a good example of this. Anyone can amble in, take a tour and chat with the onsite marketing and sales team. The space is also an option for collaborations with local artists or designers (work can be exhibited in the showroom), corporates hosting events and private functions.

Jacques van Embden, MD and co-founder of Blok, answers some key questions.

will engage with the space and what their needs are.

Blok believes strongly that home shouldn’t stop at the front door but rather that the community in which you live becomes an extension of it.

How did the Blok Sea Point exhibition space come about?

Embedded in Blok’s ethos is a desire to continuously innovate and push the boundaries in how property is sold off plan. Our architectural team designs buildings that are shared as high-quality renders through Blok’s interactive app. However, we’ve identified the need to give future home owners the opportunity to touch and feel the warmth and exquisite design of a Blok apartment.

We also want the showroom to be a multifunctional space for neighbourhood engagement. Our philosophy stretches beyond property development. We’re interested in urban living at large, so we’re eager to see how people

How did you secure the iconic former New York Bagels building?

Until we moved here, the space was empty and full of potential, just waiting to be reinvigorated. We are renting and quite like the fact that this space will be pop-up in nature so that we can relocate the Blok showroom when the time comes. It is part of the urban regeneration concept we so believe in.

Why did you choose Sea Point for this new space?

There’s a unique buzz in Sea Point, especially along Regent Road, which has huge potential not dissimilar to London’s or New York’s highstreet culture. You can stand in any coffee shop in the area and greet people by name, despite how globalised and fast the world has become. These slow moments of connection and sense of community are felt here every day. We love that. Sea Point is also Blok’s hub. We have launched three developments in this area, with more on the way.

What renovations and refurbishments were made?

We did a complete renovation.

New York Bagels moved out quite a while before we moved in, but its needs were completely different to ours. So, using the same team of professionals we

use in every Blok project, we did a complete overhaul.

The first floor is designed to display all the elements that make up a Blok apartment, including the flawless kitchen, bathroom, warm and stylish lounge and summer deck.

The second floor is a gallery space where one can view the 3D renderings of various Blok developments that have been launched so far.

Brand partners in our developments — Smeg, Oggie, Beauty Fires and Pierre Cronje, among others — have fitted out this space.

Any other exciting projects you’re busy with?

We always have new projects in the pipeline.

We have two more launches planned for the remainder of the year. SEVENonS is a boutique development in Sea Point launching in early September, catering to young professionals and families.

TWO16onHL, also in Sea Point, launches in late October or early November.

Something quite different to our developments thus far, we are catering specifically to a younger market after a modern product with a good address. We’ve interacted with too many young clients who are being driven to the suburbs because they cannot find a decent apartment on the Atlantic Seaboard. We want to turn that on its head. www.blok.co.za

ABOUT BLOK

Blok is an off-plan urban property development company. Since 2013 it has launched five developments along the Atlantic Seaboard and the City Bowl. It was the first to launch a Blok Developments iPad app to offer interested home owners a virtual tour of flats in its developments. As part of its urban community ethos, Blok is involved in various crime and clean-up initiatives, such as the licence plate recognition programme. It is also revamping Thornhill Road Park, across the road from its SEVENonT development in Green Point.

LIFESTYLE Friday August 14 2015

DESIGN

WINE

Private time

t

n

I

f you want to let off some steam after a long day in the office, make your way the Sandton CBD.

Compact homes have designers thinking about privacy

WORDS: CHRIS REID :: PHOTOS: SANCAL AND KIRSTEN THYS GROOT

SIR JAMES VAN DER MERWE BAR Located in the Kramerville design hub, the bar is open on Wednesdays only, from 4pm.

Head there for the buzzing atmosphere, eclectic decor, classic Sandton skyline views and some rocking 1990s dance music. 072 607 4235

SIR JAMES VAN DER MERWE BAR

After-work hot spots Whether you are based in Johannesburg or have just touched down for business, there are many places where you can play as hard as you work. Here are six of the best WORDS: CATHERINE BLACK :: PHOTOS: PAGE & HOLMES PHOTOGRAPHY AND SUPPLIED

THE LANDMARK COCKTAIL BAR

THE GRIFFIN PUBLISHED BY THE CREATIVE GROUP IN ASSOCIATION WITH TMG

The Creative Group CEO: Shaun Minnie shaun.minnie@thecreativegroup.info

Unit G4, Old Castle Brewery, 6 Beach Road, Woodstock, 7925 021 447 7130

EDITORIAL TEAM Acting Editor: Kim Maxwell Creative Director: Mark Peddle

THE BARON SANDOWN OK, so it is part of a franchise, but this watering hole and restaurant on Fredman Drive is an institution not only among bigwig bankers but also the younger set who are just starting out in their careers. (011) 883 8435/6 THE LANDMARK COCKTAIL BAR With its classic parquet flooring and warm lighting, The Landmark, situated in the Bryanston Shopping Centre, is the perfect counterpart to its light ’n’ breezy sister restaurant, Café Del Sol Botanico. As well as serving almost 100 classic cocktails, the bar has a discerning wine and beer list for you to enjoy.

(011) 463 5081 THE GRIFFIN A true gastro-pub, The Griffin at Illovo Junction sits squarely between an upmarket bar and a casual-but-good restaurant.

Enjoy a beer on the balcony before lining your stomach with posh nosh such as the tomato and mozzarella flatbread pizza — perfect for sharing. (011) 447 9842 THE ISLAND BAR Mingle with the well heeled at this perennially popular rooftop bar. Sip a G&T while lounging on the pool deck overlooking the fiery Highveld sunset, or cosy up on one of the couches inside for some classic peoplewatching. Find it at Southern Sun Hyde Park Sandton.

(011) 341 8080 LEVEL FOUR (54 ON BATH) Another Joburg rooftop staple that’s both stylish and scenic, this venue is as perfect for popping bubbly on a special occasion as it is for a casual Tuesday night beer to spice up a long week.

(011) 344 8500 A

Furniture is becoming more accommodating and allembracing, with pieces around the home taking cues from soft bedding to add a sense of comfort to the private spaces we create for ourselves

BusinessDay PUBLICATION

Art Director: Lucia Viglietti Editorial Consultant: Bridget McNulty Chief Copy Editor: Yaron Blecher

F

inding enough space in which to perform almost all of the necessary functions in a home can easily be overcome with innovative design, despite the trend of housing being built smaller. But where space is at a premium, privacy often becomes the biggest issue faced by people who have chosen to lead more compact lives.

Over the past few years we’ve seen a tendency in home design towards open-plan, multifunctional spaces, but that’s changing, and we’re seeing a return to more sanctuary-like interiors.

Examples of cocooning spaces can be seen in the shifts in spatial and furniture design.

At international design shows such as Maison et Objet in Paris and Salone del Mobile in Milan earlier this year, statement partitions

and screens were seen as key items. Used either as standalone pieces or worked into items of furniture, these objects help shield us, and define personal, private space.

At the same time, furniture is becoming more accommodating and all-embracing, with pieces around the home taking cues from soft bedding to add a sense of comfort to the private spaces we create for ourselves.

For years, South African designers have been remodelling homes to make them more and more open, or designing new places with cavernous interiors.

It will be interesting to see how they pick up on the shift towards private sanctuaries, which is likely to define a major thread in interior design over the next few seasons.

ADVERTISING SALES Michèle Jones Susan Erwee Ian Pepler Bradley Sparks

michele.jones@thecreativegroup.info susan.erwee@thecreativegroup.info ian.pepler@thecreativegroup.info

bradley.sparks@ thecreativegroup.info

084 246 8105 (WC) 083 556 9848 (WC) 082 465 2734 (GP) 073 666 3842 (KZN)

INVESTMENT Friday 14 August 2015

Analyse it

CONTINUED FROM PAGE 1

Rent or buy?

WORDS: PATRICK CAIRNS

The neglected part of employee wellness

T

hese days many companies run employee wellness programmes. They have come to understand that looking after the health of their employees makes good business sense.

In simple terms, this is because healthier employees are more productive.

Wellness programmes that become part of corporate culture also lead to a more supportive work environment and, therefore, a more satisfied workforce. These programmes almost always

Last month the monetary policy committee hiked interest rates by a modest 25 basis points, raising the prime lending rate to 9.5%.

This could have been in anticipation of the US Fed possibly raising its interest rates later in the year as well as an attempt to keep SA’s inflation within the targeted band of 3% to 6%.

What does the next year and a half hold in store for the housing market if the US interest rates do rise by the expected 1% to 2.5%? Might this push potential buyers back into the rental pool?

“Yes, sadly, it might well have that impact, especially since most first-time buyers have large loan-to-value ratios, with very little equity in their purchases,” says Carol Reynolds, Pam Golding Properties’ area principal for Durban Coastal. She adds that in an interest rate hiking cycle there are winners and losers. “It is good in one respect because it forces potential buyers back into the rental market. However, most landlords have bonds to cover, so the interest rate affects them too.”

RENTAL PRICE PRESSURES For those considering buying, is renting in the short term a better financial decision?

Neville Berkowitz, economist and CEO of HomeBid, says buying is generally an

emotive decision regardless of the financial pros and cons.

“I think people have it in their DNA to own their own home,” he says, adding that higher interest rates make affordability more difficult.

“In purely financial terms it may be better to rent than buy for the next few years. But with more people deciding to rent, this could put upward pressure on rentals, which are then likely to increase.

So the estimated financial benefit of renting as opposed to buying could be negated.”

For Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty, buying versus renting is not a moot point. “Buying is definitely a better option than renting, even in the face of interest rate hikes,” he says. “We know what the economic situation is and we know more or less what to expect in terms of rates. The housing market is appreciating at a rate of 8% year on year. This means that in 2016 it is going to be a lot more expensive to buy, and even more expensive the year after. If you can afford to get onto the property ladder, now is the time to do so, because in the medium term it’s definitely not going to get cheaper.”

PROPERTY AS AN ASSET While the financial scenario may favour renting, it misses a point: owned property is a

“Buying is definitely a better option than renting, even in the face of interest rate hikes … the housing market is appreciating at a rate of 8% year on year” Lew Geffen, chairman, Lew Geffen Sotheby’s International Realty

“In purely financial terms it may be better to rent than buy for the next few years. However, with more people deciding to rent, this could put upward pressure on rentals, which are then likely to increase” Neville Berkowitz, CEO, HomeBid roof over one’s head and an asset that grows in value.

Seeff chairman Samuel Seeff says that buying will result in a property that is worth significantly more than what was paid for it.

“As a rule, it takes five years before you start seeing some equity in the property,” he says. “Property values tend to double every 10 years, but South African property has always shown the propensity for excellent growth.

“During the early to mid-2000s, for example, prices were growing on average by 20% to 30%.

Even over the past two years we’ve seen doubledigit price growth, despite a weak economic climate.”

Dexter Leite, rentals manager for Pam Golding Properties in the Cape Town metro region, says that even with the prime lending rate set to break the 10% ceiling, property has proven over time to be a good investment.

“People buy or rent for

different reasons and are not only driven by interest rates and direct costs,” he says. “A long-term view, personal circumstances and finances all contribute to an individual’s decision to buy or rent at any particular time.”

Good advice to those set to sign their offers to purchase: allow for interest rate increases of up to 2.5% a year in affordability calculations, says Berkowitz. “You are much more in control of your financial destiny than being at the whim of landlords who are only trying to maximise their investment return with you as the tenant.

“Home ownership is a long-term decision and investment. You have to look past one- to five-year cycles and realise that the security of your own roof over your head is better emotionally and, in the long run, financially too.”

A CASE FOR RENTING Property economist Erwin Rode wrote in favour of renting over buying in Moneyweb’s Property Mogul digi-mag. He compared three scenarios: buying the same property with 100% equity; buying with a 100% mortgage bond; and letting at a market-related rental.

“Ignoring the time value of money, the buy scenario with 100% equity yields a cash flow of R46,000 when selling after five years.

“Compared with this rather positive outcome, the 100% bond scenario results in an outflow of R651,000, which is significantly worse than the renting scenario (-R349,000).

“This shows that having to borrow when buying results in a worse outcome than if you were to rent.”

SA is notorious for its low savings rate and high indebtedness.

These twin problems are not challenges to our economy alone — on an individual level, they can cause significant financial stress

focus on physical health — issues such as blood pressure, obesity and smoking.

Many of them also take into account mental health, offering services such as counselling, trauma management and psychological risk assessments.

However, there is a growing realisation that most programmes have overlooked a critical area: financial wellbeing.

SA is notorious for its low savings rate and high indebtedness. These twin problems are not challenges to our economy alone — on an individual level, they can cause significant financial stress.

The majority of South Africans are not saving enough for their retirement, and when they realise this, it can come as a major shock. The fear of not having enough for a decent pension can be traumatising.

Similarly, there is huge pressure on anyone who has overextended themselves when it comes to credit. It is daunting trying to untangle a web of debt when you realise you are no longer able to afford the repayments.

The stress that these issues can place on employees is enormous. And when they are under this kind of stress, they will be distracted, more likely to be absent from work and generally less productive.

If those sound like the same problems that occur when employees are physically or psychologically unwell, it is because they are. And if employers know that they should be addressing those issues, then it follows that they need to think more seriously about financial wellbeing too.

A number of employee wellness programmes already account for this and offer financial support services.

This includes providing the services of financial consultants who can advise employees on retirement planning, budgeting and saving for specific financial goals. It can also extend to debt counselling and financial literacy courses.

Given that so many South Africans have financial stress of some kind or another, companies that take these issues seriously can make a huge difference to their employees’ lives and, ultimately, they will reap the benefits.

INVESTIGATION Friday August 14 2015

How to ride the student rental wave Stellenbosch: Q&A with Louise Varga, sales manager, Pam Golding Properties, and Jacques Becker, agent, Seeff

Now is the time to secure property for the 2016 university student intake.

But if you’re buying to let in some of SA’s prime student areas, there are certain factors worth noting WORDS: DAVID A STEYNBERG :: PHOTOS: PAM GOLDING PROPERTIES, SEEFF, ISTOCK

Hatfield: Q&A with Pieter Bezuidenhout, property consultant, Seeff Pretoria East

What is the best time to purchase property to convert into student accommodation?

From November onwards, but before the end of January.

What is the best time to purchase property to convert into student accommodation?

Louise Varga: The student market is established and there are not many opportunities to convert.

However, many flats are sold every year. Most student properties come up for sale between August and November — that is the best time to buy.

Jacques Becker: Lease agreements in Stellenbosch mostly start on December 1 and end on November 30 the following year. Almost all rental agreements run for 12 and not 10 months. The best time to buy would be two to three months before December 1 so that transfer can coincide with the expiry/ end-of-lease agreement.

Which properties make great opportunities?

LV: New developments, especially if you buy off plan.

You buy, pay a deposit and then wait for the sales process, building and transfer, which can take as long as two years before you start paying your bond. You enjoy two years

of capital growth at the expense of the developer.

JB: Those within walking distance of the university, with good security and that can be shared, such as a twobedroom flat or an older house where rooms can be let.

Is any special permission required to rent out each room in a house?

JB: If the property is zoned “single residential”, then you need permission from the municipality to rent out to an extra four students. This can take about three to four months, costs about R1,000 and the neighbours either have to give consent or, when the property is advertised, not lodge an objection to students living on the premises. The owner should still be living in the house.

Which areas are in demand?

JB: Properties within walking distance of the campus, which can be deceiving because most apartment blocks in Stellenbosch are within a 1km radius of classes, which is walking distance, but not necessarily always within safe

walking distance. The campus itself is in very high demand and better growth can be achieved. These properties are hard to find at the right price.

Which properties are most in demand from investors?

LV: Two-bedroom apartments.

JB: Apartments with a good rental return, close to campus.

An indication of price inflation over the past five years?

JB: As low as 3% average off campus and between 7% and 10% on campus, depending on the time frame.

It is based on very few sales when looking at campus.

The must-haves to attract students today?

JB: High-speed internet is a bonus, as is a balcony or outside area. Apart from the location of the block, decent finishes within the flat can attract a slightly higher income. Students love a braai, but most flats do not offer this. And extra parking and an extra bathroom for sharing.

The nice-to-haves?

LV: Security and parking.

Which properties make great opportunities?

Flats for singles or to share are still the best investment.

Demand for two-bedroom flats outstrips supply. Buyers usually have to settle for a one-bedroom flat that is large enough for two.

Ample new developments cater to the student market exclusively, but they are small and expensive, which can put a ceiling on their resale value.

Bachelor flats, especially in established blocks, remain the best investment, if within the R500,000 bracket.

How much stock do you have suitable for student accommodation?

Only one-bedroom flats are.

New stock is expected near the end of the academic year.

Is any special permission required to rent out each room in a house?

It depends on the zoning and whether the owner also stays on the property. Ensure the zoning certificate is in order, should the owner not stay on the property.

Which areas are in demand?

Hillcrest, and the streets in Hatfield bordering the campus. Because of the high prices, students are now looking to Colbyn, Arcadia and as far as Queenswood.

Which types are most in demand from investors?

Bachelor flats.

An indication of price inflation over the past five years?

About 30% to 50%.

The must-haves?

A shower, secure parking facilities and, if possible, a laundry and a recreational area.

“Ample new developments cater exclusively to the student market, but they are small and expensive, which can put a ceiling on their resale value. Hatfield bachelor flats remain the best investment if within the R500,000 bracket” Pieter Bezuidenhout, property consultant, Seeff Pretoria East

LEW GEFFEN’S VIEW ON STUDENT RENTALS Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty, says suitable student accommodation stock in the Western Cape is at a premium, both in pricing and scarcity, particularly in the areas around the University of Cape Town and Stellenbosch University.

Little stock is available in suburbs such as Rosebank, Mowbray and Rondebosch.

“In Stellenbosch, studios close to campus can set you back about R1m, but twobedroom flats within driving distance of campus can still be bought for less than that. Houses in Stellenbosch are more expensive: most entry-level prices are well above R3m and the properties are usually bought as residences rather than student accommodation.

“The Grahamstown market is active and still extremely affordable, with three- to five-bedroom houses close to Rhodes University for between R1,3m and R3m. A selection of two- and threebedroom flats are on the market for less than R2m.

“Properties around Monash University in Ruimsig, west of Johannesburg, are reasonably affordable, with six-bedroom houses available for about R4m. And while student accommodation in Pretoria is still affordable, it is scarce.”

Geffen advises that you check local zoning laws before buying a property specifically for renting as student accommodation, especially if renting out each room in a house.

Also check sectional title development rules if you’re buying within a complex with the express intention of turning the property into a student residence. You may need special permission.

The must-haves to attract students? Absolutely nonnegotiable is Wi-Fi — the cost can be built into the rental structure. Uncapped Wi-Fi would be a huge draw card. “A common room where everyone can get together is essential, as is a well-equipped kitchen,” says Geffen. “Students like to socialise, so a braai is a good idea if there is room.”

And the nice-to-haves?

“If you’re buying a house, a pool is a great asset. Offstreet parking is a bonus, as is good security and an armed response service.”

INVESTIGATION Friday August 14 2015

Auckland Park: Q&A with Tony Ketcher, MD: Seeff Randburg What is the best time to purchase property to convert into student accommodation?

Purchasing in September/ October allows enough time to register the property by the end of term and to have renovations complete by the time the students move in for the new academic year.

How much stock do you have available that is suitable for student accommodation?

There is a shortage of large, older homes in the Auckland Park area. There is more availability in Brixton and Westdene.

Grahamstown: Q&A with Daphne Timm, principal, Pam Golding Properties

Which areas are in demand?

Those close to the University of Johannesburg, such as Brixton, Westdene and Auckland Park.

Is any special permission required to rent out each room in a house?

Yes. Commune consent is required from the City.

What are some of the musthaves to attract students?

Wi-Fi connectivity and a satellite dish are desirable.

A games room and outside entertainment area are a bonus.

Price inflation over the past five years?

It has been steady, in the region of 8% a year.

Which properties present great opportunities?

Mostly larger, older homes that can be converted to cater for a number of students.

How do you ensure your net returns are not wiped out by unruly students?

Regular inspections need to be undertaken. Commune consent from the City also requires that a caretaker be on the premises.

How much stock do you have of suitable student accommodation?

We have a few older homes that can be converted; however, you need to be looking at flats — we have only 11 available.

Which types are most in demand from investors?

The best buys are flats with lower maintenance needs and good finishes — a bachelor or up to a three-bed.

Which areas are in demand?

Properties within a 1km radius of campus see

the highest demand.

The CBD and around the shopping centre are also popular.

An indication of price inflation over the past five years?

On flats, about 6% year on year.

The must-haves to attract students?

Wi-Fi, good security and remote-controlled gates.

The nice-to-haves?

A fridge, stove, washing machine and tumble dryer.

STUDENT RENTALS IN NUMBERS R2,800-R3,200 a month — room R3,800-R4,500 a month — bachelor flat R5,800-R6,500 a month — one-bedroom R7,000-R7,500 a month — two-bedroom rentals in Hatfield R2,500-R3,250 a month — for each student room in Auckland Park 8%-10% — Grahamstown investors’ rental returns 4%-6% — Stellenbosch investors’ rental returns in the first year

Private Property’s

Neighbourhoods NEW Initiative

Paarl to Franschhoek Great food and wine culture

Find a home and a lifestyle that suits you.

A home for everyone www.privateproperty.co.za

“The musthaves to attract students today? Wi-Fi, good security and remotecontrolled gates” Daphne Timm, principal at Pam Golding Properties Grahamstown

FOCUS ON WATERFALL ESTATE Friday August 14, 2015

Build your dream home in Waterfall Estate

Waterfall Estate is hot property, a must-have investment for savvy purchasers who realise the potential huge returns on offer. Not to mention the incredible, secure lifestyle. And out of 2,000 stands, only 58 remain available WORDS AND PHOTOS: SUPPLIED

“It is definitely not too late to invest in Waterfall as Century expects property values to continue to double every three years” GET IN TOUCH Sales information: Norman Mohr 082 903 7502 norman@century.co.za Jessica van der Walt 082 937 4760 jessica@century.co.za

J

ust 10km north of the Sandton CBD, between Woodmead and Kyalami, lies the 640ha Waterfall Residential Estates, comprising the country estate and village, an equestrian estate and two mature-lifestyle estates, namely Waterfall Hills and Waterfall Valley. In total there are more than 2,000 properties, ranging from 600m² to 8,000m² in size.

Adjacent to the new Waterfall CBD, these soughtafter lifestyle estates offer residents an upmarket development where they can buy or build their dream homes. Waterfall is quickly becoming the preferred address for people who value a full and varied lifestyle: it offers a spacious, secure environment for families, upmarket living conditions and true property-value growth. With impeccable attention to detail in all areas of development, Waterfall promotes an integrated live/work/play environment that sets a new standard in quality estate living.

NEVER A BETTER TIME TO INVEST In 2010, during the launch of the Waterfall development, Century featured an article that asked, “Could Waterfall Estate be recession-proof?”

Looking back we can now answer that question with a definitive and proud yes!

The values of both land and completed houses have risen steeply in comparison with similar offerings on the market, indicating the unique investment and demand in residential property in Waterfall Estate.

People always ask us whether it is too late to invest, and when the value curve will even out. In every residential estate Century has developed, the property values have increased dramatically once the last developer stand is sold.

We envisage that Waterfall will follow the same trend, with values climbing by 50%, if not more. The limited resale supply will mean increased demand and hence increasing value and capital growth for years to come.

If you have invested, we congratulate you; if you haven’t yet, then what are you waiting for? Waterfall is the best residential estate on the market and the investment returns speak for themselves.

“We consider our core mission as creating viable, well-planned developments that provide increasing asset values for purchasers and enhance the areas in which they are located,” says Century Property Developments CEO Mark Corbett. This mission statement is the mantra by which Century operates and nowhere is it more evident than in the finished product of Waterfall Estate.

HOT PROPERTY ALMOST SOLD OUT Of the 2,000 stands at Waterfall, only 58 remain in the final phase of Waterfall Country Estate, many of which are prime riverfront properties that represent the best and most private locations for building a dream family home. The stands range from 1,000m2 to 1,400m² in size and are selling from R2.7m. This is your last chance to secure a golden opportunity.

FOCUS ON WATERFALL ESTATE Friday August 14, 2015

WATERFALL CRESCENT Century Property Developments has also launched a new village of 24 cluster homes within the exclusive Waterfall Country Estate. . Between 398m2 and 414m² in size, these four- and fivebedroom completed houses are on show and are priced from R5.9m to R7.8m.

By investing in this newest phase of Waterfall Estate, you will be saved the inconvenience, stress and time delay associated with private construction and be assured of the best-quality fittings and finishes.

Century is inviting you to come and view the furnished show house, open daily from 9am to 5pm.

This is your opportunity to invest in a completed home and immediately start enjoying the property-value growth and upmarket lifestyle that Waterfall provides.

“Since the launch of Waterfall Crescent we have had numerous enquiries and have already sold 20 of the completed 24 clusters in Phase 1, which illustrates the demand for completed houses in the secure Waterfall Estate.

“We even have many current Waterfall clients who are interested in buying here, as they recognise the investment opportunity on offer,” comments Geoffrey Crow, marketing manager at Century Property Developments.

Property at Waterfall is almost sold out, and Century expects to see a 50% increase in value as soon as the last developer stand is sold, as . happened in previous phases.

“Waterfall promotes an integrated live/work/play environment that sets a new standard in quality estate living”

Since the launch of Waterfall, clients have already seen a 200% property value increase on their initial investment, and in many cases, even more. Thanks to high demand, the limited number of properties and unrivalled lifestyle facilities, property values at Waterfall have far outperformed the industry growth norm and will continue to do so.

It is definitely not too late to invest in Waterfall Estate, as Century expects values to continue to double every three years.

BUY-TO-LET INVESTMENT OPTION “The buy-to-let option at Waterfall is also a good investment, as owners are receiving high rental returns and easily covering their expenses, all the while benefiting from exceptional capital appreciation too,” says Crow.

The rental market is very strong at the moment, owing to limited supply and high demand from families and corporates who want the security, prime location and lifestyle benefits that Waterfall offers. The exclusive 8,000m² properties in Waterfall Equestrian Estate are achieving monthly rentals of up to R150,000, while houses in Waterfall Country Estate and Waterfall Country Village are attracting equally impressive rentals of R60,000 and R35,000 a month respectively.

WHY INVEST IN WATERFALL ESTATE? By purchasing a property at Waterfall, the premier

development in southern Africa, clients are not only making a savvy financial investment but also the best investment in their lifestyle.

Once complete, Waterfall will comprise secure residential estates, maturelifestyle villages, business parks, a Netcare hospital, fivestar hotels, Reddam House and Curro private schools, a Gautrain station, a host of corporate head offices as well as commercial and convenient retail elements, including the largest single-phase shopping mall in the southern hemisphere, the impressive Mall of Africa which is set to open in April 2016.

Waterfall Estate’s facilities include 37km of walking and biking trails that meander through 300ha of pristine greenbelt along the riverside, a majestic 5ha lake for nonmotorised water sports, a 5,000m² clubhouse with full gym, squash courts, studios, a climbing wall, restaurant, indoor kids’ play area and the Reddam House Waterfall private school. This means that resident children can ride or walk safely to school without leaving the secure perimeter of the estate.

Along with the estate’s impressive facilities, each stand has a direct fibre-optic connection to the Seacom cable, and piped LP gas for cost-effective and convenient water heating and cooking.

Designed to raise the benchmark for secure lifestyle estates in South Africa, security at Waterfall is managed at the highest level while maintaining a sense of personal freedom for residents.

PROPERTY TREND Friday August 14 2015

#2 NO “ONE SIZE FITS ALL” According to Boets Smuts of Smuts & De Kock Architects in Stellenbosch, future developments will steer away from a tired, predictable “one size fits all” design sensibility. Fads such as Spanish, Tuscan or even “Cape architecture” often left very little to the imagination so long as they adhered to the design manual’s “rules”.

These types of building are bound to become a thing of the past, especially in housing developments, says Smuts. Examples of unique, customised and future-driven developments include Belvidere Estate near

Forms of the future What are SA’s prospects in terms of architectural design?

Five urban designers and architects reveal the design trends that could be here to stay WORDS: RIEKIE HUMAN :: PHOTOS: DHK, BOETS SMUTS AND SUPPLIED

#1 IN-BETWEEN SPACES In the spirit of Ubuntu, there’s a move towards building a sense of community in malls, residential areas and even in office enclaves. Luke Scott of Luke Scott Architects in Cape Town says buildings can go beyond being “merely programmatic”.

The idea, he says, is to create meaningful spaces in between buildings, for respite, for protection from the elements and for observation and participation. South Africans are returning to cosmopolitan urban living whereby they engage with people on the street and can safely ride a bicycle or catch

a bus or train to work. “It is about having pride in how and where you live,” he says.

For instance, by placing a bench or low-wall niche underneath a tree on the street boundary of a small residence, and perhaps providing a drinking fountain, you can improve the property and bring joy to passers-by.

Scott’s most recent design, a sports pavilion, alumni

centre and a museum/archive at Bishops Diocesan College in Rondebosch, was intended as a convivial courtyard and primary outdoor meeting space for the many users of the development.

“Paths will cross there.

If that creates the opportunity for chance interactions between wildly different people, I’ll be very pleased.” www.lukescott.co.za

“If that creates the opportunity for chance interactions between wildly different people, I’ll be very pleased” Luke Scott, Luke Scott Architects

Knysna and Vredenburg Estate in Paarl.

“These developments were sensitively controlled and their design manuals provided broader guidelines, allowing owners and designers to put their own special stamp on it,” says Smuts.

He adds that both developments have heart and soul and offer an authentic feeling of belonging.

In Belvidere’s case, the old Duthie Belvidere farmhouse around which the development was laid out is still intact, Vredenburg Estate is close to Paarl’s historical heartbeat. www. smutsdekockarchitects.co.za

PROPERTY TREND Friday August 14 2015

#3 REINVENTING SUBURBAN SPRAWL In the suburban sector, there is a surge in middleincome residential housing developments that feature reasonably sized units, great amenities, easy access and security, says Peter Fehrsen, a director at dhk Architects in Johannesburg.

These developments, such as De Velde in Somerset West, echo the public’s growing sense of community.

“They’re not simply places to live in and leave in the morning, but offer recreation too,” says Fehrsen.

“There’s a consciousness

about street edges and communal responsibility.”

The residential sphere is also pivotal to the growing trend towards mixed-use schemes. “Developers have caught on to the winning combination of residential, retail and some offices,” he says.

Keeping a development active throughout the day increases safety, security and desirability. “Even in suburbs closer to the city, there’s this trend towards mixeduse schemes that are active around the clock. It supports the local authority’s desire for more density.” www.dhk.co.za

#4 CARBON ZERO Mark Finney envisions a bold new tomorrow when it comes to carbon-zero homes, offgrid designs and on-site power generation.

He represents Fabricate Design, a partnership of architects and urban designers in Cape Town.

Becoming carbon-zero is a global phenomenon because of people’s growing awareness of sustainable design and their investigations into ways to reduce their energy bills.

“In SA we also have the incentive of load shedding, which is pushing people to look for alternative ways of keeping the lights on,”

says Finney. As sustainable technology advances and becomes more affordable for everyone, Finney sees this trend taking off in a bigger way, with further aid via government subsidies. For example, there are already programmes to incentivise the use of solar water heaters.

Fabricate has started working on a private home in Yzerfontein that has a slew of sustainable features such as underfloor insulation, cavity walls and roof construction, underfloor heating powered by an air-source heat pump, wood-pellet burners with efficiency of more than 90% and low-energy lighting. www.fabricatedesign.com

PETER FEHRSEN, DIRECTOR, dhk ARCHITECTS

“They’re not simply places to live in and leave in the morning, but offer recreation too. There’s a consciousness about street edges and communal responsibility” Peter Fehrsen, director, dhk Architects

INTERNATIONAL Friday August 14 2015

Big in Japan The Japanese property market, especially that of its capital, is undergoing a comeback with the help of some financial tweaking WORDS: DAVID A STEYNBERG PHOTOS: SUPPLIED

The numbers

4.9%

— growth in national house prices: end 2012 to end 2014

6.2%

— anticipated Tokyo house building growth over 10 years to 2014

2%

— rental rate growth in first quarter 2015

J

apanese Prime Minister Shinzo Abe’s stimulus programme, “Abenomics”, has seen the sleepy Japanese economy grow quickly since he was elected to office in 2012. The Economist has described it as “a mix of reflation, government spending and a growth strategy designed to jolt the economy out of the suspended animation that has gripped it for more than two decades”.

The Nikkei 225 index has surged nearly 100% since June 2012, according to property investment company IP Global.

“The quantitative easing programme spearheaded by the Bank of Japan has kept the yen weak against most other currencies, stoked export volume and kept interest rates under 1%,” says IP Global’s director for Africa, George Radford, adding that national house prices have grown since Abe’s election.

“Tokyo property prices are already showing strong signs of growth, particularly within prime city centre areas,” says Radford. “Prices across the 23-ward area rose by 10% in the year to April 2015, while the city’s six central wards outperformed this, with apartment prices up 13.4%.”

A housing shortage and a population in migration is driving the market despite Japan’s declining population.

Tokyo is busy with a vast house-building programme to meet this growth, with little to stop it continuing for the next decade.

TOKYO OLYMPICS “The city is undergoing an infrastructure investment boom in anticipation of the Tokyo 2020 Olympics,” says Radford. “The games themselves will directly add some 3-trillion yen to the economy, but the associated regeneration and infrastructure investment will be even

more beneficial, contributing up to 23-trillion yen to the metropolitan economy.”

This bodes well for investors looking to take advantage of this demand for housing, aided by a weakened currency and a 1% interest rate. Small is also better, with demand increasing for smaller units close to jobs and transport links. “In Tokyo’s 23 wards, the asking price for a secondhand flat was 45,63-million yen (about R4.6m) in April, up 10% from 2014,” says Radford. “In central Tokyo’s six wards, the average price was 64.92-million yen (about R6.6m) in April, up 13.4% from 2014.”

RENTALS CREEPING UP The rental market, too, is performing well but is still off its highs of the pre-2008 boom.

Rental rates are growing, with the city’s five central wards commanding a rental premium of 16% on the 23-ward average.

Average gross yields on newbuild developments in the five central wards are 4.2%.

“As a benchmark indicator of rental market performance, the occupancy rate of Reitowned rental flats saw a steady increase in the last couple of years. It stood at 95% as of July 2014,” says Radford.

Land prices in Tokyo’s five central wards recorded their second consecutive year of growth in 2014. Chuo’s rose by more than 10% over two years. “This trend is a key indicator of improving sentiment and the increasing demand for properties in the heart of the city,” states an IP Global report on Tokyo.

Affordability is another aspect of Tokyo’s investment case. “The affordability ratio of Tokyo-Yokohama was just 4.9 in Q3 2014. This compares very favourably with other major global gateway cities, with New York-New Jersey at 6.1, London at 8.5, Sydney at 9.8 and Hong Kong at 17.”

“Prices across the 23-ward area rose by 10% in the year to April 2015, while the city’s six central wards outperformed this, with apartment prices up 13.4% George Radford, director for Africa, IP Global

QUEST FOR THE NEW A 2014 article by Alexander C Kaufman in the Pacific Standard paints a picture of a Japanese culture obsessed with newness to the point where second-hand properties are rarely bought, because of their state of disrepair and people’s fear of the spirits of those who died in their homes. It is quite unlike the Western culture of maintaining a house to increase its value for the time of sale.

Johnny Strategy, the Japanese art historian behind the Tokyo and New York culture site Spoon & Tamago, was quoted under his pen name: “This whole DIY concept that’s super popular here [in the US] – you have TV shows devoted to it, you have Home Depot and Lowe’s and all these things that are devoted to building equity in your home – none of that exists in Japan. Even making a slight modification, changing your wallpaper, painting or remodelling a bathroom…

It’s a huge thing that no one usually does [in Japan].”

Strategy said that when the country was released from cultural isolation in the 1800s, perceptions changed. He noted a very sudden change and a “huge pouring in” of Western culture and influences. There was an “urgency” for Japan to catch up with the West and the rest of the world.

This, writes Kaufman, is why Japanese home buyers seek the most cutting-edge design with the most recent construction date. It is also why much of Japan’s existing stock is in a bad state, with owners having little desire to invest in their homes.

But is it always the case that the majority of the Japanese don’t see property as an investment? “We don’t see this as being true, no,” says IP Global’s Radford.

“Property markets operate in very similar ways in most cities. Where there’s good opportunity, investors will invest. We don’t recognise any trend of higher demand for new builds in Japan, compared with any other major world cities.”

INTERNATIONAL Friday August 14 2015

Cyprus and Greece:

economically, poles apart

Many assume that the tiny island of Cyprus is financially linked to Greece. This is not the case. Cyprus is forging its own way ahead despite the economic challenges of the past WORDS: LEA JACOBS :: PHOTOS: ISTOCK

Cypress property in numbers €100,000 —

average price of a flat

€327,000

— average price of a freestanding home

€323

— national average monthly rental for an apartment

€525 — national

average monthly rental for a freestanding home

A

lthough Greece and Cyprus may share a common language and cultural ties, the two economies are very different.

Yes, both may have received an international bailout, but Cyprus has remained more conscientious than Greece in implementing the reforms imposed when the country accepted €10bn in aid in 2013.

The reforms were tough and included closing the country’s second-largest bank and imposing a oneoff bank deposit levy on all uninsured deposits of more than €100,000.

However, unlike Greece, Cyprus focused on getting things back on track as quickly as possible. And it appears that the country’s commitment is paying off.

A recent statement released by the European Commission, the European Central Bank and the International Monetary Fund noted among other things that the financial situation of the banks is gradually improving.

There is also evidence that the pace of debt restructuring is picking up. Fiscal targets in the first half of the year were met with substantial margins. The authorities are making progress with their structural reform agenda and their commitment to the programme is producing results in several areas. Economic recovery started earlier this year and unemployment is beginning to decline.

ON THE UP Those are not the only positive signs. Property values may still be dropping, but sales exceeded all estimates in 2014

and the first year-on-year increase in transactions since 2010 has been recorded.

The land and surveys department’s website shows that property transactions concluded in June this year rose by 15% as compared with transactions finalised in the same period in 2014: 464 sales of commercial and residential property were concluded, as against 406 sales in 2015. Of these, 72% were sold to local buyers and 28% to foreigners.

Industry experts in Cypress believe that the government’s recent announcement that it is considering reducing transfer fees by 50% will further boost the market.

The Cypriot tourism sector was badly affected by the financial crisis, and the country’s proximity to Syria has, to some extent, hampered growth in both the tourist and real estate markets.

Visitor numbers still increased marginally (1.4%) in 2014. However, the number of tourists from the UK decreased by 5.1% and from Russia by 25.2%, and there were 10.4% fewer visitors from Greece. But there was a wave of visitors from Germany, recording a 24.5% increase during the year.

Tourism has always played a large role in Cyprus’s economy. According to the KPMG Cyprus Tourism Market Report, there has been substantial growth over the past five years. The average number of tourists

visiting the country is now 2.315-million a year.

PROPERTY PRICE DROPS Despite all the positives, property prices on the island continue to weaken and prices have dropped across the board. Statistics released by the Royal Institution of Chartered Surveyors reveal that the price of flats has decreased by 2.6% and of houses by 2.3%, while those of commercial properties (retail) have fallen by 5.5% when compared with the second quarter of 2014.

Interestingly, prices in traditionally popular tourist hot spots are not, at this stage, more expensive. The average price of a flat in Paphos is about €97,000 (about R1.3m), while a house in the same area will set you back about €350,000 (about R4.8m). The average price of a flat in Larnaca is €111,000 (about R1.5m) and that of a freestanding home is €277,000 (about R3.8m).

Cyprus has an awful lot going for it and is undoubtedly the ideal place for sunseekers. Home to the densest concentration of Blue Flag beaches in the world, there’s plenty of opportunity to kick back and relax on this Mediterranean island paradise. Crime levels are low and the locals are friendly.

It might be time to take a closer look at investing before everyone else realises just what they have been missing.

“Interestingly, prices in traditionally popular tourist hot spots are not, at this stage, more expensive”

“Unlike Greece, Cyprus focused on getting things back on track as quickly as possible”

H

INVESTMENT Friday 14 August 2015

ADVICE FOR FIRST-TIME BUYERS

Sectional title continues its strong run

T

he sectional title market has outperformed the full title market in value — but only slightly.

This is according to FNB’s Valuers’ Market Strength Index, which shows that sectional title homes recorded value of 52.45 in the second quarter of 2015.

Full title came in at 50.38.

The index is a measure of valuers’ perceptions of the balance between demand and supply, which is reflected in the respective value growth rates.

Following a stellar run by the full title segment,

which was stronger than the sectional title market between 2005 and 2013, the latter market began its comeback in late 2013, peaking at 10.2% in the first quarter of the following year.

Full title growth came in under half at 5.2% growth.

Since then, sectional title homes across all bedroom differentiations have outperformed full title homes, which John Loos, household and property sector strategist at FNB, says is in line with the “smaller is better” theme.

Says Loos: “[This theme] appears to be running

through the market of late as home-related operating costs rise strongly and a slowing economic growth rate coupled with rising personal tax rates constrains the growth in household disposable income.

“Since early 2014, however, although the sectional title market strength level remains above that of full title, both segments’ rates of strengthening have slowed.

This is arguably the impact of slowing economic growth along with the start of interest rate hikes early in 2014.”

The bank noted that in the second quarter of 2015

the strongest year-on-year house price inflation was found in the less than two bedroom sectional title segment, recording 11.4% growth year on year. Next was the sectional title two bedroom segment with 7.9%.

“In the full title segment, the two-bedroom and less category recorded the strongest growth at 7.2% yearon-year price inflation,” says Loos. “This sub-segment, with an average price of R577,522, is the cheapest of the full title sub-segments and much of it falls into the so-called affordable housing market.”

“Since early 2014, although the sectional title market strength level remains above that of full title, both segments’ rates of strengthening have slowed”

His remarkable five-bedroom property in Rockville, Moroka, is a landmark and one of the best-known residential properties in the area,” says Luthuli.

The house was designed by architects Michael Sutton and David Walker in 1979.

“The design has split-level reception rooms with a woodburning fireplace, unusual barrel-vaulted ceilings and sky roofs. It is a most remarkable all-brick design, very much in the Michael Sutton mould. There is certainly nothing comparable within the Soweto area, or indeed in Johannesburg.”

In Soweto, freehold and sectional title homes sell, on average, for R281,000 and R290,000 respectively.

Luthuli says the 2015 national budget announcement that no transfer duties are payable on property transactions

of less than R750,000 has stimulated the property market in Soweto.

First-time buyers are active in the market, with 40% of recent buyers aged between 18 and 35 years.

“There is a strong demand for homes up to R750,000,” says Luthuli. “One can obtain a two-bedroom home with a garden for about R750,000 in an area such as Meadowlands.

“More upmarket homes between R1,5m and R2m are also popular and many residents in this price bracket prefer the colourful community vibe of Soweto to that of Johannesburg’s residential suburbs.”

Luthuli says the property may also offer a number of commercial opportunities, such as accommodation for tourists to Soweto, as an events venue or even a restaurant.

John Loos, household and property sector strategist, FNB

Landmark R3m Soweto home for sale

T

he house of the wellknown Sowetan doctor Johnny Mosendane, now deceased, is up for sale for R3m. Trish Luthuli, new business executive at Pam Golding Properties Gauteng, says the house

has historic significance for the community and is one of the most valuable properties to ever go on the residential property market in Moroka, Soweto.

“Mosendane was an icon in the Soweto community.

Durban down but South Coast rentals up

T

he first six months of the year have seen a monthly decrease in the average number of properties sold nationally, according to deeds office data. About 22,640 homes are being transferred monthly, compared with 24,140 houses in 2014. This represents a 6.2% drop.

The recently launched low-commission estate agency HomeBid compiled the research and reported that Durban saw the biggest decrease in activity levels across the country, posting a drop of 10.7%.

While Durban seems to be slowing on the sales front, the South Coast is witnessing a price revival in its rental market, according to Pam Golding Properties Margate.

But this is not necessarily a good thing. The office reports that landlords are

on the hunt for permanent rental services, says Dina Porteous, Pam Golding Properties’ area principal.

Porteous believes the increased demand is attributable to the affordability and availability of rental stock in the area.

Last year a three-bedroom house or flat could be rented out for between R3,500 and R5,000 a month.

“Unfortunately, over the past year this situation has changed dramatically as the demand for properties and the cost of rates and taxes/ levies has driven rental prices into a price bracket that is just out of reach for 90% of the enquiring tenants,” she says.

“Tenants are still demanding rentals on the lower end — between R2,500 and R4,500 a month — and this is understandable as salaries

With National Savings Month behind us, Francois Venter, director of Jawitz Properties, provides six essential tips for firsttime home buyers.

1. Be practical about all your expenses: Your income is the most important factor in determining the mortgage bond you qualify for. Your repayment should not be more than a third of your net income. Remember to include your other monthly expenses, such as utilities and debit orders and your monthly contributions to various insurance coverage and savings accounts, and don’t forget to factor in rising interest rates and inflation. “You will need to be able to afford mandatory home insurance. You can look at incorporating existing policies into a more affordable package that includes protecting your home,” says Venter.

2. Use the first-timebuyer subsidy: To make your home loan more affordable, you can apply for a first-time-buyer grant as part of the Finance Linked Individual Subsidy Programme. Households with a gross income of between R3,501 and R15,000 a month qualify for a subsidy from the government, provided no other grant has been applied for or no other property is owned.

3. Shop around for a home and a bond: When choosing a property, keep in mind how the neighbourhood might change over time. “Look out for developments in the area, such as upgrades to public transport, or whether schools are close by. Always keep in mind the prospect of reselling one day or the appeal of a property if you were to rent it out,” Venter says.

4. Have a professional inspect the property before you buy: Make sure you aren’t buying into something that could cost you even more. Check whether the rates are accurate for the property.

5. Use winter to your advantage: Beginning your property search in winter is a good way to see what a property is like in the colder months. Look out for leaks, and assess how cold it is inside the property. Take note of how much garden maintenance might be necessary — drier months may require a lot of water to keep the grass looking good.

on the South Coast are extremely low in comparison with similar employment in larger towns or cities.

“It is especially bad in the private sector, as most of the concerns are SMMEs and business is seasonal. The

average income of tenants inquiring about property to rent is between R5,000 and R8,000 a month.”

6. Negotiate the best price: “Some sellers may be open to negotiation,” Venter says.

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THE HOUGHTON - A LEADING HOTEL OF THE WORLD “We are excited to welcome The Houghton to our portfolio,” says Deniz Omurgonulsen, Vice President Membership, The Leading Hotels of the World. “Its comprehensive facilities, park-like setting overlooking a Jack Nicklaus-designed golf course, and proximity to prime shopping and business concerns make it especially attractive. Above all, we’ve been impressed with the developers’ embrace of the destination, and dedication to excellence. We believe the hotel will embody the dynamism of Johannesburg, and deliver an exceptional experience.”

ON SHOW DAILY – LIFESTYLE OPPORTUNITIES FROM R3,9 MILLION Visit our luxury residential apartments for sale within this five star oasis - Open daily, on show Saturday and Sunday SHOW APARTMENT Unit 12118, The Houghton on the 12th, 53 2nd Avenue, Houghton Office – 011 034 2201 || Alan Becker – 082 718 8100 Email – alan@thehoughton.com

Bryanston Bedrooms: 3 | Baths: 3 | Garages: 2

Web Ref: 3299655

R7 500 000

Modern elegant double storey home in prestigious Mount Street - combining great design with spacious accommodation. Entrance hall features opulent sweeping staircase. Lower level leads to generously proportioned living areas, formal lounge, dining room, family room, study, open-plan kitchen. French doors lead to covered patio overlooking manicured garden with sunny pool area. Staff accommodation and double garage. Upper level offers 3 double en-suite bedrooms.

Marlene Johnson 082 342 3538 | marlene.johnson@everitt.co.za | Anne Beedle 083 302 3842 | anne.beedle@everitt.co.za | Sandton Office 011 463 2033

Hartbeespoort Bedrooms: 6 | Baths: 6 | Garages: 3

Web Ref: 3302195

R16 000 000

Furnished interiors that reflect the opulence of living and entertaining whilst maximizing an idyllic escape for only the very privileged discerning owner. Situated on the water's edge - in a private cul-de-sac. Featuring 5 levels of luxury/entrance on street level with 1 level above and 3 levels down / maximizing views over the water.

Custom designed and carved solid rosewood purpose built cabinetry. Borehole with storage tank linked directly to property. Store for boat/jet ski with separate access.

Iris Venter 082 486 8479 | iris.venter@everitt.co.za | Randburg Office 011 801 2500

WESTERN CAPE UMPTUOUS DUAL LIVING PROPORTIONS Set on over an acre of landscaped gardens is this gorgeous children-friendly home with tennis court. Stunning False Bay views by day and flickering distant lights by night are a magical back drop to this vast property of 4-5 en suite bedrooms in the main house, plus a lavish full self-contained 2 bedroom en suite cottage. Double staff suite and 3 garages. 2 Boreholes and irrigation system.

BEDROOMS 4 BATHROOMS 4 Charne Shipper: 083 274 6336 Ingrid Hoaten: 082 490 6246 Web Ref: 93441

UPPER CONSTANTIA R24 million

GAUTENG INFINITE PLEASURES Glistening city lights, colourful sunsets, uninterrupted views, and urban delights. – This glorious home puts the world at your fingertips. Indeed, location is everything. Situated in a 24 hour guarded and gated enclave, this totally secure home offers superior design, exceptional finishes and a lifestyle of ultimate luxury. The wonderful living rooms with sheets of glass and amazing views of the spectacular garden. From the wonderful kitchen with breakfast room, to the sophisticated bedrooms with beautiful bathrooms, this incomparable residence is proof that a new era in pampered living has arrived. Plus, it’s a stone’s throw away from Redhill School.

BEDROOMS 5 BATHROOMS 4

MORNINGSIDE R12.5 million

Norma Robinson 082 554 7260 Web Ref: 93260

GAUTENG COUNTRY LIVING This mansion is nested on a 1.160HA stand and has a cottage with kitchen,2 living areas, 2 bedrooms and 2 bathrooms. The home offers a cellar, 4 bedrooms–3 en-suite,4 bathrooms, guest toilet, 5 living areas, pantry and scullery/laundry.

Enjoy spectacular sunsets on the large patio with build-in BBQ overlooking the garden and pool.

The home is equipped with Alcatraz security and Cool Breeze air system. The kitchen is a chef’s dream with gas/electric stove, double ovens from Bosch set in an Indian Rose wood centre. Some ducks and geese on the residence. May keep horses on the property.

BEDROOMS: 6 BATHROOMS: 6.5

IRENE R7.995 million

Liza Gillett 084 587 1878 Web Ref: 93557

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