Business Day Home Front 20 February 2015

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FRIDAY, FEBRUARY 20 2015

HOMEFRONT PAGE 2

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WHY GREEN EARNS MORE GREEN

THE ABCs OF BUYING NEAR TOP SCHOOLS

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A testament to modern materials

THE UPLIFTMENT CONUNDRUM

Building more quickly and more efficiently while saving occupants about 80% on their heating and 50% on their water costs is how all homes should be built WORDS: DAVID A STEYNBERG :: PHOTOS: SUPPLIED

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STUDENT HOUSING — RENT OR BUY?

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ompleted in April last year, Monaghan Farm’s Stand 47 project (close to Lanseria) illustrates the financial benefits of innovation in the field of residential design and construction. Owing to its thermal properties, the property has survived four seasons without so much as an air conditioner or heater switch being flipped.

This is what happens when you spend R7m and then market your project, before and after its completion, as an example of the possibilities created by integrating new technologies with the old.

“The entire home is designed to be highly thermally efficient,” says Gavin Rooke, who devised the concept of Stand 47 and is also the client, landowner and developer.

“This translates into a long list of technical features of the various Saint-Gobain systems used in the home, external thermal insulation composite systems (ETICS) being only one of them. The net impact is that the house has required zero heating and cooling.”

CONTINUED ON PAGE 6

LIFESTYLE

February 20 2015

LIFESTYLE

The lie of the land Landscaping is big business on new builds and renovations. Done correctly, it can greatly increase the value of your home or workspace WORDS: GENEVIEVE PUTTER :: PHOTOS: SUPPLIED

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andscaping has never been as important as it is today. Traversing the disciplines of architecture, engineering and urban planning, it has to respond to the growing eco-consciousness

within our communities and the increasing scarcity of space. We explore the landscaping trends and learn that paying a little more can boost the value of your property and your wellbeing.

Down to size Taryn Jacobson’s landscaping business, Tiakaya Design, has blossomed significantly since the launch of its headquarters, Living Room, an event/bar space that is designed around eco-sensitive principles and which showcases Tiakaya’s work and products.

The space has been growing on a rooftop in the Maboneng precinct these past few years.

A long-standing landscape contractor for the precinct, Jacobson is well versed in creating urban gardens.

Says Jacobson: “I have lived in small urban spaces for most of my life and I truly believe in the ability of plants to positively affect the psychology of people.”

Jacobson says that requests for private urban gardens have increased dramatically. “We’ve noticed a huge interest by first-time home owners and apartment renters who are interested in basic DIY gardening and who love to piece together interesting collections of pots and plants from those we sell at Living Room and the online Tiakaya shop.”

What of the challenge of greening an inner-city node such as Maboneng? “As the precinct and public interest grew, the streets’ plants faced the challenge of competing for space with humans, which doesn’t always turn out well for the plants. Luckily, the precinct developers are dedicated to keeping greenery included in their vision, as are most of the home owners in the area,” she says.

“The reception of our space, Living Room, by the Jozi public is overwhelming proof that, despite being city dwellers, the connection to nature is far from lost” Taryn Jacobson, Tiakaya Design

What the property consultant says SISA NTULI, MANAGING DIRECTOR, SISA NTULI URBAN INVESTMENTS

safety, which in turn positively affects individuals’ physical and psychological wellbeing.

How does landscaping add to an urban precinct such as Maboneng?

All successful cities, including New York, London, Paris and Rome, have incorporated good landscaping. It is indeed a paradox, greening a concrete jungle, but what is a jungle without trees? There has been a lot of research done into the transformation of inner-city landscapes, and it points to city dwellers’ feeling that landscaping — the planting of trees and plants in public nodes, such as playgrounds and parks — provides a sense of

How does landscaping affect investment?

Landscaping is one of the key processes in gentrification.

The first set of residential units in Maboneng was sold off-plan in 2009 for an average price of R280,000 for a 33m2 flat. The same properties are now selling for nothing less than R400,000.

Landscaping was one of the processes that ensured that people felt safe in the city, and thus the need to invest in it has increased in the past five years.

Internal landscaping speaks to the individual’s emotions and has a direct, positive impact on the perception of value.

LIFESTYLE February 20 2015

Going big South Africans who can afford sprawling properties prioritise the garden and its connection to the rest of the home with as much gravitas as, say, the architectural or interior design. According to garden designer Franchesca Watson, whose portfolio includes properties all over SA as well as in Seychelles and North America, the key trends for big, stately gardens hinge on an awareness of and sensitivity towards their evirons.

Landscapers look to plant or preserve mature trees, build greenhouses, establish food gardens, match the style of the garden to the architecture (or vice versa) so that it looks as though the building is part of the natural surrounds, assemble collections of rare flowers

and plants (such as salvias and African ficus) and, for the more extravagant, put up art installations.

“I think a really good garden can add as much as 10% to the value of a home, especially if it has clever water solutions,” says Watson, “and by this I mean incorporating green technology, such as permeable surfaces or drip irrigation, and waterretention functionalities.”

She says care should be taken to preserve the quality topsoil: “The building process needs to be managed correctly to avoid the scorched-earth effect created by builders. By cordoning off areas of the property and protecting the existing trees, the client will avoid spending money on repairs.”

“Vegetable gardens are here to stay. We value the connectedness to nature and the wholesomeness they provide”

A garden by Franchesca Watson in Steenberg, Cape Town

Franchesca Watson, garden designer

What the agent says LORETTA DIAB, MANAGER, SEEFF SOMERSET WEST How fast do properties with landscaped gardens sell?

They tend to attract offers much faster. Take, for example, an average family home in an upmarket area, priced at about R2.35m, which is the average for Somerset West.

A beautifully landscaped garden with an irrigation system will not only attract buyers, but also is bound to attract an offer quite close to the asking price. A house priced at about the same mark but with an average or less-than- average garden is

likely to encourage an offer quite below the asking price, assuming the price is not bargain level, of course.

Another Franchesca Watson creation, this time in Constantia

What should prospective buyers look for in a home with a garden?

It’s a matter of personal taste.

To a family, a nice lawn area might be important, whereas an older buyer might prefer less grass and more rose garden. There is, of course, the option of changing or enhancing the garden, of redesigning it and bringing in other landscapers. In fact, this is often one of the things new homebuyers look forward to.

Well hung Arguably the biggest trend in greening homes or office spaces is the chic green wall phenomenon. Kevin Frankental of Joburg-based design consultancy Lemon Décor, which specialises in the installation and maintenance of vertical gardens, says that his company has seen a 100% spike in the demand for such features, both in corporate and in residential properties.

“In the beginning, clients were reluctant to install these walls because of the reliability and maintenance issues around vertical gardens.

However, we’ve innovated and improved our technological systems to enable us to sell a hassle-free solution, which is slowly changing the market’s perception of the product,” says Frankental.

The growth of this trend is really about the clever use of space and meeting the needs of property owners, which often includes some kind of connection to nature. “With our vertical gardens, we are making use of underutilised vertical space. It’s a great way to bring the outdoors into the workspace or the home without sacrificing

valuable floor space. There are also great wellness benefits,” Frankental says.

Many corporate clients, such as Transnet and Growthpoint Properties, as well as private clients see value in vertical gardens because they take less maintenance than expected and raise the investment profile of the property.

“We view our vertical gardens as works of art, and have spent many years researching plants that grow beautifully in a vertical plain and in our climate. The trick is to create a garden that looks good from day one and just gets better with time,” says Frankental.

“With our vertical gardens, we are making use of underutilised vertical space” Kevin Frankental, co-owner, Lemon Décor

“Landscaping is one of the key processes in gentrification” Sisa Ntuli, MD, Sisa Ntuli Urban Investments

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 Editor: David A Steynberg david.steynberg@gmail.com Creative Director: Mark Peddle

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BusinessDay PUBLICATION

Editorial Consultant: Bridget McNulty Chief Copy Editor: Yaron Blecher

ADVERTISING SALES Michèle Jones Sarah Steadman Yvonne Botha Susan Erwee Bradley Sparks Jackie Maritz

michele.jones@pamedia.co.za sarah.steadman@pamedia.co.za yvonne.botha@pamedia.co.za susan.erwee@pamedia.co.za bradley.sparks@pamedia.co.za jackie.maritz@pamedia.co.za

084 246 8105 (Sales & Marketing Manager) 082 334 4367 JHB (Property) 082 563 6685 JHB (Lifestyle) 083 556 9848 (Western Cape) 073 666 3842 (KwaZulu-Natal) 078 133 5211 (Garden Route)

The Signature An International Associate of Savills

BEAULIEU COUNTRY ESTATE GAUTENG R19.95 MILLION

This magnificent home is set on 11 962m2 of landscaped gardens. The home is designed with the emphasis on entertainment, double volume entrance, open plan reception areas flowing onto covered patio, bar, pool area.

Bedrooms 4 | Bathrooms 4 | Garages 5

Tony Santana 083 654 1268, Leanne Santana 083 273 6881

WEB ACCESS MR1184014

BRYANSTON EAST GAUTENG R13.85 MILLION

Behind high white walls in a boomed road, an exceptionally beautiful Cape Georgian home plus self-contained flatlet. Set on a magnificent ±3 470m² landscaped English country garden with pool and tennis court. A country kitchen and five splendid receptions opening onto an extensive covered patio.

Bedrooms 5 | Bathrooms 6 | Garages 3

Win Doody-Pestell 083 309 0770, Francois Rohlandt 078 392 6947

WEB ACCESS HP1193225

DAINFERN GAUTENG R12.5 MILLION

Overlooking the river on a generous-sized stand, this home will appeal to the nature-loving family.

Exceptional views from every room.

Bedrooms 5 | Bathrooms 4 | Garages 4

Sue Ralph 082 892 8772, Brenda Gilbert 083 251 4452

WEB ACCESS FW1207312

Collection www.pamgolding.co.za | m.pamgolding.co.za

FRESNAYE UPPER WESTERN CAPE R19.95 MILLION

Natural textures, muted tones and panoramic views create an ambience of serenity in this stylish architect-designed home. Double-volume spaces and open-plan living areas flow onto a terrace with a rim-flow pool.

Bedrooms 4 | Bathrooms 4 | Garages 3

WEB ACCESS PR1003402

Jackie Rosenberg 083 414 6600, Janice Toay 082 770 1510

CLIFTON

WESTERN CAPE R24.9 MILLION Spectacular front-facing apartment at the water’s edge with large living areas leading onto a wraparound entertainment terrace.

Well-appointed reception rooms with open-plan kitchen.

Bedrooms 4 | Bathrooms 4 | Parkings 2

WEB ACCESS PR1126170

Annette Hepburn 082 658 1116

BISHOPSCOURT WESTERN CAPE R29 MILLION

Manicured French Provençal beauty with sophisticated rustic charm set in a serene park-like garden with tennis court. An understated, well-proportioned home with great attention to detail.

Bedrooms 4/5 | Bathrooms 5/6 | Garages 2

WEB ACCESS KW1207759

Myrna Duveen 082 443 8417, Christiaan Steytler 082 658 0071

INVESTMENT February 20 2015

Analyse it WORDS: PATRICK CAIRNS

SA’s two economies

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conomically speaking, there’s nowhere else on earth quite like SA. The way our country has developed has led to a situation where, in the words of the chief global economist for Renaissance Capital, Charlie Robertson, we are really two different nations.

He points out that SA has always failed to sit comfortably in any economic analysis because of this.

The wealthy minority would probably show a GDP per capita of between $15,000 and $30,000 (about R177,000 and R354,000), which is a figure similar to Spain’s or Malta’s. But then there is a majority with a GDP per capita of less than $5,000 (about R58,000), which is poorer than Angola’s or Jamaica’s.

This, of course, reflects in our much-talked-about inequality problem.

According to 2011 figures from the World Bank, the top 10% of SA’s population earns 53.8% of the income, while the bottom 40% earns just 20.2%.

Robertson, however, adds an interesting dimension to this question by pointing out that what these figures show is that SA has both a developed economy and an internal emerging market.

This is a fascinating thought in light of our problems with economic growth.

Many policy makers and those in the business world seem to believe that economic growth in the future needs to come from the same places it has over the past 50 years — big business. After all, SA has some outstanding companies, a number of which have gone on to be very successful globally.

However, if SA is going to reach the 5% or 6% economic growth that is needed to tackle its unemployment and inequality problems, it’s not going to get there through the part of the economy that is already developed.

No developed country in the world grows at that pace.

For this country to start growing at an accelerated pace, we have to look to the internal emerging market that Robertson talks about.

It’s the emerging economies of the world that are able to grow at a fast pace — think of Ghana growing at 7.9%, Rwanda at 7.5% or Mozambique at 7.0%.

We have to encourage the kind of informal-sector entrepreneurship and economic engagement that

has been seen in Nigeria, Kenya and even in the world’s present darling, India. This is not just an economic imperative but a political one too, because unless that lower 40% can legitimately earn a larger share of the economy, it will inevitably try to wrest it away by other means.

Many policy makers and those in the business world seem to believe that economic growth in the future needs to come from the same places it has over the past 50 years — big business.

After all, SA has some outstanding companies, a number of which have gone on to be very successful globally

According to World Bank figures, SA’s lowest 40%

earns just 20.2% of the country’s income. That compares with

28.6% in the UK and 31.6% in Norway

CONTINUED FROM PAGE 1

Cost savings through innovation It’s quite simple, really, as Michelle Cerruti, head of residential at Saint-Gobain, says: “A 2012 CSIR study that compared two identical houses, one built out of light steel frame (LSF) and the other out of traditional masonry, revealed that the electricity required to heat the base-case brick building to comfort levels would, on average, be double that required for the LSF building.

If cooling to comfortable temperatures were required, it would take on average three times more electricity to cool down the brick building to thermal comfort levels.

“This significant increase in the amount of electricity required to heat or cool the internal spaces of the brick building can be ascribed to its thermal mass. Apart from having to heat the air inside the building, the walls of the masonry building absorb some of the heat, resulting in additional energy consumption. The inverse happens during cooling, when the heavy masonry walls have to be cooled down along with the air inside the building.”

Much of this has to do with the extra care and cost that was put into positioning the house optimally, and with the LSF and the products used to insulate the home.

The magic is in the walls.

“Additional prominent finishes include timber frames, parquet floors and steel roof sheeting in addition to a number of high-quality materials from Saint-Gobain,” says Rooke.

He says the wall systems from Saint-Gobain consist of a number of high-quality materials designed to provide improved thermal and acoustic performance, higher fire-resistance times, improved internal air quality, easily adaptable internal walls and durable external walls.

The house is fitted with a number of alternative energy systems, such as a photovoltaic array and a heat pump.

“Costs are very low as a whole, with roughly 85% of its power requirements being harvested from solar and about 50% of its water requirements from rainwater harvesting,” says Rooke.

Stand 47 not only shows how traditional and modern materials complement each other, but also proves that homes need no longer be restrictive in form and function: with drywalling, it’s perfectly fine to remove walls and create extralarge bedrooms or move the entire layout around.

The future adaptability of Stand 47 ensures it will remain relevant to its purpose as a show unit as well as its future as a live-in space.

“The modular nature of Saint-Gobain building technologies used at Stand 47 make future renovations much easier to perform, since modular systems are flexible and easily adapted, removed or added to without compromising the entire structure, building form or the aesthetic, and there is minimal inconvenience to the user,” says Cerruti.

BENEFITS OF INTEGRATING MATERIALS Speed of build: faster builds mean more savings Precise and efficient construction: there is less building rubble to be removed,

leading to cost savings Energy: the biggest saving can be seen in the mediumto long-term energy costs in the home

Says Rooke: “A key objective of the project was to purposefully integrate traditional and contemporary materials, proving that more efficient contemporary products integrate well with more familiar brick, rock and wood materials. The LSF construction with drywall infill and Saint-Gobain Weber ETICS walls can be used within new or existing masonry buildings.”

While a project such as this goes a long way towards dispelling any myths and fears about using nontraditional building materials in residential development, it should also speak of the value appreciation of a home such as this.

Rooke believes Stand 47 will command a 10% to 15% premium over a traditional home when it is placed on the market in August. “I do not plan to see the home go for less than R8m,” he says.

Stand 47 at a glance Land

3,766m2

(excluding servitudes)

Home

374m2 Land cost

R1.65m Building cost

R5.5m

(including professional fees, a range of interior assets and bespoke finishes)

PROPERTY February 20 2014

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Stellenbosch buyers head for the hills Estate buying is on the rise in Stellenbosch, and for less than one would expect WORDS: MEG WILSON :: IMAGES: PAM GOLDING PROPERTIES, SEEFF

he latest trend in the Cape winelands town of Stellenbosch is for home owners to sell their existing properties in the suburbs and move to one of the secure lifestyle estates that are springing up in the picturesque surrounding countryside.

Such developments are mostly located about 5km to 10km from the centre of town and offer easy access to the business hub of Stellenbosch, the many fine schools in the area, the international airport and the Cape Town CBD as well as to good security, says Etienne Labuschagne, owner of the Harcourts Winelands real estate franchise.

“So it is no surprise that they are now also attracting buyers relocating to the winelands from other parts of the country. What is more, they offer good value. For about the same amount that you would spend on a preowned home in town, you can buy a new property with excellent finishes in one of these new estates.”

Indeed, the growing appetite for such purchases is easily illustrated by the success of recently launched developments, says Louise Varga, area manager for Pam Golding Properties.

“At Brandwacht Aan Rivier, for example, we sold 90 stands in the first month and all 120 stands were sold out in four months.

“At Digteby Estate, which was originally launched in 2007, 16 of the original 49 stands have been resold in the past two years at prices from R775,000 to

R1.55m, while eight firsttime sales have taken place at prices ranging from R580,000 to R650,000.”

About 27 luxury homes have been built on the estate, with owners spending between R7,000 and R10,000 a square metre and most of them living on the estate permanently. Two of these homes are for sale, at R4.8m and R5.5m respectively.

Another development that has been extremely well received is Raithby Vines, conveniently located between Somerset West and Stellenbosch, where there is now only a handful of stands left for sale, according to Seeff marketing agent Loryn Alberts.

Stand prices on this estate range from about R895,000 to R1.495m, and building packages for three-bedroom, two-bathroom homes are available from R2.045m.

“For about the same amount that you would spend on a preowned home in town, you can buy a new property with excellent finishes” Etienne Labuschagne, owner, Harcourts Winelands

Have smartphone, will travel Gone are the days of stuffing your travel bags with guidebooks and street maps. Load up your smartphone with these five free apps and you’ll be ready for the road WORDS: RICHARD HOLMES

TRAVEL

UBER

AIRBNB

FEEDIE

FIND MY FRIENDS

WAZE

It’s with good reason that Uber has millions of users in more than 200 cities worldwide. With a few swipes, an Uber car will be at your Brooklyn brownstone in minutes, and the innovative, easy-to-use app allows you to share your route and split the fare. The app also allows you to get a fare quote upfront, and payment is all done securely via credit card. Just watch out for surge pricing, when fares can rocket.

Just as Uber has made getting around that much easier, so Airbnb has done the same for finding a place to stay, by matching travellers with locals offering rooms and flats to rent. The app quickly connects you to more than 450,000 listings in more than 34,000 cities, allowing you to search accommodation, message hosts and build an itinerary.

The idea behind Feedie is deceptively simple, yet it has a powerful impact. When eating at restaurants in the Feedie network (focused on SA and New York), use the app to snap a photo of your meal, share it on one of four social networks and the restaurant will make a donation of R2,50 to the Lunchbox Fund, a nonprofit school-feeding scheme operating across SA.

This app is a great way to keep track of friends and family when visiting a foreign city. It uses GPS and cellphone-tower triangulation to keep tabs on the friends in your network, displaying their location on an interactive map. Of course, they’ll need to accept your invitation to be followed.

Ever missed your flight because you got stuck in traffic on your way to the airport? This app combines social networking with GPS technology to advise you on the quickest route from A to B. Tap in your destination — or use the speech recognition tool — and follow the directions. “Outsmarting traffic, together” is the payoff line, and a few million users are inclined to agree.

ADVERTISING FEATURE February 20 2015

Grand living at Amani The exclusive Amani lifestyle development in lush, sought-after Atholl offers four families space, serenity and bespoke luxury

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mani is an exclusive, secure estate of just four architecturally designed, bespoke family homes, each set on a generous stand of about 1,000m². Erven this large are rare in Sandton’s urban centre, and home owners will enjoy the tranquillity of the estate in addition to the convenience of proximity

to the heart of Sandton’s urban centre.

These designer homes have been conceived with high-end luxury in mind and tailormade to nurture the needs of today’s dynamic family.

Says Lynn Petzer of Lynn Estates: “Like a couture garment, each home will be detailed to suit the unique requirements of the families

who live there, ensuring a perfect fit.”

This breathtaking estate’s architectural language combines sleek modern design with warmth and sophisticated elegance.

Voluminous, high-ceilinged living spaces emphasise the generous proportions of each magnificent site and flow seamlessly out onto a sparkling pool, deck and lawns, creating an entertainer’s dream of harmonious indooroutdoor living.

More than anything, though, these homes are being crafted with ambience, energy and atmosphere in mind. “Amani is about creating a dream home for the modern family — a soulful environment where families can live, relax, entertain and just be themselves,” says Petzer.

Carefully considered interior planning skilfully links exquisite living areas with a natural flow while still maintaining its dynamic purpose.

Although the living and entertainment areas facilitate easy social interaction, ample private spaces balance them out. Upstairs pyjama lounges create a relaxed, intimate environment for individual and family time, and each bedroom provides a private retreat.

You would never guess it from the peaceful suburban atmosphere, but the invigorating bustle of Sandton’s CBD is moments away from Amani. This means quick access to the Gautrain, Sandton City shopping centre and SA’s most prominent businesses and schools.

Amani bespoke luxury homes set a new standard in upmarket, modern family lifestyles, combining serenity and tranquillity with a sense of simplicity and elegance your heart can call home.

The property development division of Lynn Estates, iLynn Designs Property Development Specialists, is fast becoming a market leader in bespoke luxury living, developing homes that facilitate a unique, upmarket way of life appreciated by the elite, discerning individual.

Lynn Estates, which will be responsible for marketing Amani, has specialised in the selling of superior developments for 26 years, including landmark developments such as The Michelangelo Towers, Sandhurst Towers and Sandton Skye. Within this holistic enterprise you also have the benefit of a personalised interior design service offered exclusively

by Jayd Designs, a subsidiary of Lynn Estates.

ADVERTISING FEATURE February 20 2015

“Amani is about creating a dream home for the modern family, a soulful environment where families can live, relax, entertain and just be themselves” Lynn Petzer, Lynn Estates

AMANI BESPOKE LUXURY ATHOLL

Four exclusive, architecturally bespoke homes Sought-after address at 72 Keurboom Road, corner Forest Road, Atholl Spacious stands of about 1,000m² Four or five luxurious en-suite bedrooms Designer kitchens and bathrooms Sparkling pool Double or triple garages Staff accommodation Secure estate Proximity to shops, entertainment, businesses, schools and the Sandton CBD From R9.985m to R15.150m

FOR MORE INFORMATION, CONTACT LYNN ESTATES:

Tel: 083 655 5539 E-mail: info@lynnestates.co.za Visit: www.lynnestates.co.za

INVESTMENT February 20 2015

ST JOHN’S, JOHANNESBURG

Top schools influence market prices Does a top school increase property values in the area, increase demand for property and ultimately improve the precinct? Seems so WORDS: ANDRÉ FIORE AND ANNE SCHAUFFER :: PHOTOS: SEEFF, SUPPLIED

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here can be hardly a parent who has not at some stage glanced wistfully at a “walk to school” teaser on the property pages.

Certainly the advantages of living near one’s school of choice are manifold. Not only does it reduce onerous time spent in peak-hour traffic and facilitate attendance at after-hours sporting and cultural events, which are increasingly forming part of pupils’ curriculums, but also property values close to good schools tend to appreciate substantially, and neighbourhoods in general simply become better.

It’s pleasing to note, however, that while what are arguably the country’s most prestigious private schools do attract the highest prices in surrounding suburbs, there are many top government and former model C schools that do exactly the same.

“Although a number of factors inform the price of a home, most notably how much a buyer is prepared to pay, homes close to schools and especially top/

private schools tend to attract excellent prices, and the closer to the school, the more expensive the home generally is,” says Samuel Seeff, chairman of Seeff Properties. “But, while the convenience of schools close by is a big selling point for many areas, it’s not only the upper-income areas where buyers might pay millions to live close to a private school; even middle-income suburbs will have a price differential, with homes close to schools attracting a higher price.”

“It’s not only about good schools, however,” says Fred Soukop of Soukop Property Group. “Homes situated close to good shopping centres tend to show the same trend, with prices in similar areas being comparable to prices of homes situated near schools. Attractions such as the sea or a good estate similarly influence property prices, meaning that while good schools are certainly a major draw card, they are not the only one.”

“In Cape Town,” continues Seeff, “we have the well-

known ‘academic belt’ across the Southern Suburbs, which includes suburbs such as Rondebosch, Claremont, Newlands, Kenilworth, Bishopscourt and Constantia.

Not only are these areas home to some of the top schools in the country, but also these are some of the most expensive suburbs in the Cape metro, apart from the Atlantic Seaboard and City Bowl, which offer top schools and a soughtafter seaside location.”

Says Seeff Southern Suburbs licensee James Lewis: “With about 160 schools, the Southern Suburbs boast the highest number of schools per square kilometre in the country,” “These schools include Bishops Diocesan College, SACS, Rondebosch Boys’, Rustenburg Girls’, Wynberg Boys’, Wynberg Girls’ and Reddam House. The convenient location of these suburbs as well as the topclass infrastructure — ranging from blue-chip shopping malls, vibrant street cafes and coffee shops to restaurants,

designer boutiques, excellent medical care and just about every other convenience that residents could want — along with the high density of schools, the nearby University of Cape Town and other tertiary colleges are all top selling points of the area and ensure not only strong demand, but also ever-higher property values.”

This is clearly illustrated in the average freehold house price growth since 2007.

Notwithstanding that since 2007-08 the market has been constrained by the global economic recession and SA’s poor economic growth, values across the Southern Suburbs have risen at inflation-beating levels. Newlands (2007 pre-crisis) R2.9m vs R4m.

Rondebosch (2007 pre-crisis) R2m vs R3m. Bishopscourt and Constantia (2007 precrisis) R6m to R11.6m and R8.7m respectively, with topend homes there anywhere between R15m and R30m to about R70m at the very top.

Similarly, says Ian Slot, Seeff MD Atlantic Seaboard and City Bowl: “Property on

“In Gauteng, schools such as St Mary’s, Roedean, St John’s College, King Edward VII, St Stithians, The Ridge and Crawford add dramatically to property values in already affluent suburbs, but so too do schools in Randburg” Tony Ketcher, MD, Seeff Randburg

INVESTMENT February 20 2015

MICHAELHOUSE, KZN MIDLANDS

the Atlantic Seaboard, with schools such as St Cyprian’s girls’ school, Reddam House and Herzlia, have appreciated dramatically since pre-2007, with top prices in Clifton, Bantry Bay and Fresnaye around the R100m mark.”

Interestingly, in the Cape, the Deutsche Internationale Schule Kapstadt and François Le Vaillant French School, and in Sandton, the British International College, the American International School of Johannesburg and the Deutsche Internationale Schule Johannesburg are all excellent selling points for European buyers, who are prevalent in these areas.

In Franschhoek, Paarl and Stellenbosch, agents find that, in addition to the winelands, homes within the catchment area of schools such as Paarl Gimnasium, famed as an incubator of Springbok rugby players, along with Paarl Boys’ High, Paul Roos Gimnasium and Bridge House, sell well.

And in the KwaZulu-Natal Midlands, prices of estates such as Gowrie Farm can be directly linked to the demand from parents with children at Michaelhouse, St Anne’s, Clifton Prep and Hilton. They own about one-third of the homes on the estate (often second homes). These are priced between R6.5m and R8.5m.

In Gauteng, schools such as St Mary’s, Roedean, St John’s College, King Edward VII, St Stithians, The Ridge and Crawford add dramatically to property values in already affluent suburbs, but so too do schools in Randburg, says Tony Ketcher, managing director of Seeff Randburg.

“In Randburg we have very

popular schools, especially among the Afrikaans community. Linden Hoërskool, Louw Geldenhuys Primary, Fontainebleau Laerskool, Fairland Laerskool and Randburg Hoërskool create a very strong demand for properties in these suburbs, and I would estimate that prices can be affected by as much as 10% for being close to these schools. All these schools have very strong parent bodies and are well supported by the community,” says Ketcher.

The community is most certainly another power at play in most of these areas. While city councils don’t typically single out a certain suburb for better policing or running, community bodies do.

With shared interests and more money, security is often carefully considered by parents and business owners, with the costs of neighbourhood patrols being shared among residents, Whatsapp groups communicating any and all unfavourable happenings, gated estates arising to meet demand and gated streets and precincts being created wherever possible.

These suburbs tend also to see people standing up for their views, objecting to building proposals, making decisions about what

“It’s surprising what a rapid difference a good school can make in an area” Michela Soukop, Soukop Property Group

businesses may or may not be brought into areas and attracting desirable lifestyle and leisure offerings.

While the country’s oldest schools may have been formative in creating prestigious suburbs, many good schools are now being planned to be close to captive markets.

The burgeoning Umhlanga and Dolphin Coast are prime examples, with many recent newcomers from crèche level to grade 12 joining the more established institutions.

“It’s surprising what a rapid difference a good school can make in an area,” says Michela Soukop of Soukop Property Group.

“Lilian Ngoyi Road [formerly Windermere] in Durban has changed dramatically over the last few years with the establishment of the Curro Embury College offerings.”

The Berea/Morningside precinct in Durban has seen a significant about-turn, with the old traditional homes around the private schools of Durban Girls’ College, Maris Stella and Clifton being snapped up and demolished, and large, lavish new homes built on these sites, says Myles Wakefield, CEO of Wakefields Real Estate. “There’s little doubt that the strong desire to be on the doorstep of these prestigious schools has spawned these massive property investments.”

Not simply for investors with schoolgoing children, with good schools exerting an explicit positive effect on property and the surrounding areas being in continual demand, these suburbs get top marks when it comes to buy-to-let and long-term investment too.

REDDAM HOUSE, ATLANTIC SEABOARD, CAPE TOWN .

BRYANSTON, JOHANNESUBURG .

GOWRIE ESTATE, KZN MIDLANDS.

FRANSCHHOEK, WESTERN CAPE.

ADVERTISING FEATURE February 20 2015

New phases to launch in popular Noordhoek secure estate After the overwhelming success of phases one and two, which virtually sold out within just months of their respective launches, and with demand at an all-time high, the developers of the Noordhoek-based security development Chapman’s Bay Estate are releasing phases three and four

C

hapman’s Bay Estate in Noordhoek is a perfect opportunity for investors to get in at ground level, as seven phases are planned.

“With more than R100m in sales thus far, investor confidence in the estate is proving to be significant,” says Mark Tame of Percipient, the developer of Chapman’s Bay Estate in conjunction with Kaikoura Capital.

Tame says that the interest in Chapman’s Bay Estate is also thanks to reasonable pricing, particularly when compared with surrounding properties and security estates within a 10-15km radius.

Three- or four-bedroom Courtyard homes are priced from R2.954m, three- or fourbedroom Wetland homes from R3.775m and three- or four-bedroom Avenue homes from R4.194m. Prices include VAT. There is no transfer duty.

This top-end product has attracted a number of investors, including quality construction specialists Property Development Projects and Flagstone Development Projects.

IDYLLIC SURROUNDS, CONVENIENT LOCATION Sited on a slope at the foot of the Table Mountain reserve, Chapman’s Bay Estate offers investors a selection of elevated plots boasting some of the most majestic views Noordhoek has to

offer. Set amid indigenous flora, the homes are designed to maximise on a relaxed, tranquil and secluded lifestyle, while the estate’s convenient location, just minutes from pristine beaches, mountainhiking and equestrian trails, a stone’s throw from Long Beach Mall and a mere 40-minute drive from Cape Town, combines the very best of all worlds.

A UNIQUE OFFERING Formal commencement of civils and infrastructure is well under way on site at Chapman’s Bay Estate.

“After the launch in mid2014, phases one and two virtually sold out. The interest in the development has been overwhelming, not only from locals, but also from Johannesburg and Durban as well as further afield, with buyers hailing from as far as Singapore, Australia and Malta,” says Mike Greeff, CEO of Greeff Properties, an exclusive affiliate of Christie’s International Real Estate, which has the sole mandate to market the development.

He believes that the allure is thanks to a combination of the location, the low-density living and the security of the estate. “Security estates top most buyers’ wish lists and there’s a shortage of stock in this category — in fact, there’s a shortage of real estate stock in Cape suburbs full stop, and

Chapman’s Bay does more than simply fill a stock gap.

“Part of the excitement generated around this new Noordhoek property is the fact that your ‘backyard’ is the Table Mountain nature reserve, while the wetlands and the ecosystem they support will be included in the development,” says Greeff. “This is a truly unique opportunity not only to acquire a piece of spectacularly beautiful real estate, complete with views of ocean, mountain and indigenous forest, but also to enjoy a singular lifestyle in a designer home.”

Only three homes will be built per hectare, and 145 homes are planned.

“There will be no identical cookie-cutter houses,” says architect Stephen Lennard, who has prepared optional design variations for the houses. Buyers can also opt to buy a plot and design their own dream home within carefully considered design guidelines. “Environmental appropriateness is the primary point of departure,” says Lennard. “We’re trying to avoid visibility, so we’ve opted for materials and colours with a low reflective index, for example textured plasters, stone, steel and wood. Roofs will be a combination of asphalt, shingle, corrugated iron and concrete, and roof gardens will be encouraged.”

“The interest in the development has been overwhelming, not only from locals, but also from Johannesburg and Durban as well as further afield” Mike Greeff, CEO, Greeff Properties, an exclusive affiliate of Christie’s International Real Estate

ADVERTISING FEATURE February 20 2015

ON SHOW EVERY SUNDAY, 2PM-5PM, ON SITE FOR SALES, PLEASE CONTACT INFO@GREEFF.CO.ZA. Dale Gremels +27 (0)82 539 9393 MorganMorris +27 (0)82 445 4293 Bruce Durham +27 (0)82 380 1880

MOUNTAIN IDYLL ABOVE: Ocean and

mountain views from designer homes in indigenous surrounds.

LEFT AND BELOW:

Phases three and four at Chapman’s Bay Estate, a secure ecosensitive estate in Noordhoek, are being marketed exclusively by Greeff Properties. Threeor four-bedroom Courtyard homes are priced from R2.954m, three- or fourbedroom Wetland homes from R3.775m and threeor four-bedroom Avenue homes from R4.194m.

Prices include VAT. There is no transfer duty.

INVESTIGATION February 20 2015

Does urban renewal exclude the urban poor?

Urban gentrification is being encouraged in just about every major CBD in the country, but how does it benefit the urban poor who have historically called these areas home? Are they being priced out in the name of regeneration?

WORDS: DENISE MHLANGA :: PHOTOS: ARNOLD PRONTO, THE TIMES, THE SOWETAN, SUPPLIED

A

lmost every weekend, Rendani Mathemulusa, a Johannesburg CBD resident, sticks to the same routine of household chores. Not that there are many to do when you share a bachelor flat.

Originally from Thohoyandou, Limpopo Province, Mathemulusa has lived in the city all her working life and has seen some positive changes to the area in that period. These include the development of the trendy Maboneng precinct, Arts on Main, the Neighbourgoods Market and the Rea Vaya bus rapid-transit system.

Says Mathemulusa: “For the most part, I love living in city because of its cosmopolitan culture.

It’s a place of great opportunities for many.”

INCLUSIVE CITIES Whether urban renewal projects are inclusive of all who live in cities remains to be seen, as the majority of the population is poor.

People rely either on family or government grants or both.

According to the Inclusive Cities Report (2008) by the South African Cities Network, an inclusive city is one that provides all its citizens with decent public services, strives to produce a beneficial framework for inclusive economic growth, improves the quality of

urban living, aids social cohesion of its communities and celebrates diversity.

With rapid urbanisation happening in most cities, challenges such as high levels of inequality, low levels of infrastructure development, slow service delivery and declining job opportunities remain. This puts pressure on already scarce resources and makes it difficult to manage differing interests and expectations.

In the Joburg 2040 Growth and Development Strategy report it is noted that “Johannesburg has always been and continues to remain a city of stark contrasts – between those who enjoy the highest standard of living and those who struggle to make ends meet”.

Hayleigh Evans, brand and cultural manager at Propertuity, the developer of Maboneng, says it develops vacant urban areas and converts buildings with a mostly industrial heritage into mixed-use (predominantly residential) developments. The idea is to develop iconic buildings and neighbourhoods, such as the trendy Maboneng that brings diverse cultures under one roof. “We develop with a long-term, cohesive vision. This has held us in good stead in Maboneng, where we have just opened our first park, a school and a grocery store,” says Evans.

MABONENG

IMPACT OF URBAN RENEWAL PROJECTS In Cape Town, Johan van der Merwe, a councillor on the Mayoral Committee for Energy, Environmental and Spatial Planning, says urban renewal programmes are a high priority. The city has achieved many successes, thanks to its holistic approaches and wellplanned solutions towards rapid urbanisation, he says.

In 2012 the Mayoral Urban Regeneration Programme (MURP) introduced a sustainable system of operations and maintenance of public infrastructure and facilities in partnership with communities. The MURP’s objective, says Van der Merwe, is to uplift neglected, underinvested areas that are regressing rapidly and to improve the safety, quality of life and socioeconomic situation,

The MURP aims to redress inequality, with a focus on CBDs, town centres, community nodes and commercial corridors in priority areas

with the focus on the shared or public environment.

The MURP aims to redress inequality, with a focus on CBDs, town centres, community nodes and commercial corridors in priority areas, including the Hanover Park, Gatesville, Manenberg and Athlone CBDs. The City of Cape Town has invested more than R250m in 68 public spaces in an effort to create innovative and inclusive, communityfriendly areas, says Van der Merwe. The city’s previously disadvantaged communities have been the recipients of the majority of this investment.

In Johannesburg, Evans says, Propertuity is developing products that cater for mixed income brackets. “We are focused on affordable housing in Maboneng, where rentals start from R1,500 a month.”

Developing similar units in the area is Bjala Property, which in 2013 launched phase one of Bjala Square in Jeppestown. There are 65 units, with rental prices ranging from R2,999 for a one-bedroom unit to R3,400 for two bedrooms. Phase two will be ready for occupation in April this year. Rental prices are still to be confirmed.

Electricity is prepaid, and rentals exclude electricity and water. Bjala says tenants include single upcoming professionals and young

INVESTIGATION February 20 2015

“Johannesburg has always been and continues to remain a city of stark contrasts — between those who enjoy the highest standard of living and those who struggle to make ends meet” Joburg 2040 Growth and Development Strategy report

MITCHELLS PLAIN.

“The City of Cape Town has invested more than R250m in 68 public spaces in an effort to create innovative and inclusive, community-friendly areas. The city’s previously disadvantaged communities have been the recipients of the majority of this investment” Johan van der Merwe, councillor, Mayoral Committee for Energy, Environmental and Spatial Planning

NEIGHBOURGOODS, BRAAMFONTEIN

families. But the CBD remains far too pricey for the likes of Mathemulusa, who cannot afford Maboneng rentals.

Because overcrowding is one of the problems leading to the decay of many properties, managing agents and owners are strict about the number of occupants in rental units. Some allow one or two people to a bachelor flat or one-bedroom unit.

Sales prices are stiff.

Lightstone data reveals that the average selling prices of sectional title units in the CBDs of Cape Town, Durban and Johannesburg in 2014 were R1.4m, R279,500 and R310,250 respectively.

A 2004 report, titled Breaking New Ground: A Comprehensive Plan for the Development of Sustainable Human Settlements, stated that “increasingly, the renewal of inner-city areas has become focused on commercial and highincome residential property redevelopments”. The report, released by the department of human settlements, noted that during the implementation of such projects, the inhabitants of those areas are often excluded because they cannot afford to live in the new developments.

Clearly, urban regeneration in major CBDs benefits only a few. People like Mathemulusa will never own property, while renting a trendy flat remains a dream.

ARTS ON MAIN.

MITCHELLS PLAIN.

HOW MUNICIPALITIES PROMOTE AFFORDABLE INNER-CITY HOUSING

REA VAYA.

Encouraging social housing — social housing is medium-density and this housing intervention may make a strong contribution to urban renewal and integration.

Social-housing interventions may also be used to facilitate the acquisition, rehabilitation and conversion of vacant office blocks and other vacant/ dilapidated buildings as part of a broader urban-renewal strategy. Social-housing developments should be dovetailed with other initiatives, such as municipal redevelopment projects and the urban development zone

tax incentive offered by SARS. Increasing effective demand — the introduction of a new incentive to facilitate access to loan finance in the middle-income group above the R3,500 income limit and the reintroduction of demanddriven individual subsidies will have the effect of increasing effective demand for existing, well-located property. This is expected to provide an incentive for the redevelopment of properties within inner-city areas.

Source: Breaking New Ground (2004)

INTERNATIONAL February 6 2015

HARVARD .

FILLING THE VOID, CHEAPLY Increased development that strives to satisfy global demand does not necessarily represent quality builds. The 2014 Savills UK Research report showed a 78% increase in the number of students from China.

It also indicated that one in every four full-time UK students live in purposebuilt accommodation of inferior quality in poor locations. The depletion of good stock is resulting in increased private ownership, with direct rentals rising to 19% out of the 47% of quality student beds in good locations, as opposed to university facilities at 28%.

Is it better to invest in a property, or should your child board?

The need for quality student accommodation overseas is growing in tandem with the rise in the number of foreign students attending the world’s top five universities WORDS: ANNA-MARIE SMITH :: PHOTOGRAPHS: ISTOCK

T

he latest CBRE Student Housing Index indicates an overall rise of 4% in the number of foreign students attending international institutions. In the UK, investment in student accommodation came to £2.37bn in 2014, surpassing the 2013 total of £2.2bn.

The US Ivy League institutions of Harvard, Stanford, Caltech and MIT and the UK’s Oxford and Cambridge were placed within the top six positions of global universities, according to the Times Higher Education World University Rankings 2013-14 and the Forbes World University Rankings 2013-14.

The affordability of staying in cities such as Boston, San Francisco, Oxford and Cambridge — particularly in the light of forex conversions — goes beyond tuition fees and remains a pressing consideration for parents and independent students who value high academic and living standards.

Most institutions offer choices that range from boarding at university residences or family homes to rental or ownership of privately owned units in surrounding neighbourhoods.

In the UK, demand for buy-to-let in the student housing market is increasingly being driven by parents and institutional investors who are

drawn by the potential longterm returns. In the January 2015 Knight Frank Prime Central London Rental Index, student accommodation was listed as the UK’s bestperforming asset class in 2014.

Specific reference was made to investment growth in the high-demand Oxford region, according to the Knight Frank Oxford City Index, and was linked to easy access to academic institutions.

“About 30,000 students from all over the world, who reside in the quaint city of Oxford just 50 miles from London, have access to a cosmopolitan and eclectic atmosphere,” says Damian Gray, Knight Frank Oxford.

Recent improvements made to transport links between London and Oxford have coincided with rising demand from international investors from Europe, Asia, South America, Russia and the Middle East. This is putting pressure on housing stock

and has seen students queuing overnight to obtain the best addresses when the housing lists are opened each year, says Gray.

“The universal principle of good yields on sound student accommodation investments apply at all quality institutions abroad,” says Lanice Steward of Knight Frank South Africa. “When purchasing student accommodation in high-demand university areas, parents and investors are increasingly prepared to take the long view of theoretically achieving steady rental incomes and potential capital appreciation.”

Says Gray: “The number of outside investors in the UK who are joining parents looking to provide a home for their children as well as a future-proof investment has grown dramatically in the last few years and is setting expectations of becoming an upward trend.” He says that, while

“The number of outside investors in the UK joining parents looking to provide a home for their children as well as a future-proof investment has grown dramatically in the last few years and is setting expectations of becoming an upward trend” Damian Gray, partner, Knight Frank Oxford

Oxford City continues to search for sites for domestic housing, the university and colleges are increasing in size and competing with local families for housing.

Boarding in the US is a popular option and is viewed as a practical and enriching choice by the world’s top-rated institution of Harvard University and colleges in Boston, Massachusetts. The institution houses 97% of undergraduates who choose to live on campus for four years. International students represent 11% of the total number of Harvard students, and some of them opt to pay high premiums for quality student accommodation in good locations.

Continuing demand, according to the Harvard Business School (HBS) report, is driving the purchases of quality private student housing and is prevalent among international HBS students and graduates. This group represents 50% of foreign students and a third of the school’s MBA population.

Since boarding at a topranking institution remains a desirable but scarce option, property professionals are advising parents and students to investigate the long-term benefits of investing in toprated student fraternities and global economies.

HARVARD .

CALTECH .

MIT .

INTERNATIONAL February 6 2015

OXFORD .

Foreign varsities — worth the price?

There are many benefits to sending your child overseas to study at a top-notch university, but the privilege does come at a price WORDS: LEA JACOBS :: PHOTOGRAPHS: ISTOCK, KNIGHT FRANK INTERNATIONAL OXFORD

A

“The universal principal of good yields on sound student accommodation investments apply at quality institutions abroad” Lanice Steward, MD, Knight Frank South Africa

degree obtained from the world’s most respected universities garners the admiration of employers around the world.

Unfortunately, given the large numbers of students who understand the importance of studying at the “right” university, getting admitted to an institution of this nature is difficult. This, coupled with a weak rand and high tuition costs, does have an impact on the number of South Africans who can afford to send their youngsters abroad to study.

Apart from these issues, there are very few disadvantages to sending your child to a celebrated overseas institution to study.

And having a degree from a renowned university such as Oxford or Harvard will go a long way to securing your child an advantage when he or she enters the job market.

A prime example of this is Oxford University in the UK, where a degree in computer science will cost the parents of an overseas

student £21,855 (about R393,000) in tuition fees, £6,925 (about R124,000) a year in college fees and about £21 (about R376) a night, or R11,280 a month, for accommodation at one of the university’s residences.

Those who want to try to save a few pennies could opt for alternative student accommodation; however, it needs to be remembered that all undergraduate students studying at Oxford have to live within a 25km radius of the centre of the city and that rentals in these areas are generally high for those who choose to live on their own. Any foreigner entering the UK to study must obtain a student visa.

Those who have their hearts set on seeing their child graduate from Harvard Law School in the US can expect to pay a yearly tuition fee of $54,000 (about R638,000). The university suggests budgeting a further $26,000 (about R307,000) for travel, textbooks, health

insurance, living expenses and accommodation.

To study at any university in the US requires a visa.

Those wishing to study towards a BCom at the University of Melbourne in Australia will pay between A$106,430 (about R964,000) and A$114,030 (about R1m) a year for the course.

Residence fees are estimated to range from A$22,000 to A$26,000 (about R200,000 to R235,000) a year.

International students require a student visa to study in this country.

Other costs that will need to be factored into the equation include flights to and from the country where the institution is situated as well as pocket money for the student. (Most countries that grant student visas do not allow students to work while they are studying.)

On the upside, there are various scholarships and bursaries available at all of the above-mentioned universities, but the competition is pretty fierce.

CAMBRIDGE .

145 Kingston Road, Walton Manor, Oxford — a four-storey home with parking in this popular location close to Jericho and Port Meadow

MIT .

Flat 24, Grantham House — a raised ground-floor flat with garden in a low-energy development in Jericho, Oxford

OXFORD .

H

NEWS February 20 2015

Debate rages over land ownership by foreigners

W

hat started with ANC secretary-general Gwede Mantashe saying foreign land ownership should be capped at a certain level has escalated to foreigners not being permitted to own land in SA. This is according to President Jacob Zuma, who noted during his state of the nation address that foreigners would instead be eligible for long-term leases.

Players across the property industry say the policy will scare off foreign direct investment and create an environment of uncertainty.

“The implementation of such a policy would reduce foreign investor confidence in SA, affecting the economy as a whole,” says Neil Gopal, CEO of the South African Property Owners Association. “As the issue escalates, it has the potential to hamper investor confidence in the country and curb foreign direct investment flows. Foreign investment in property boasts benefits for the commercial property industry, and with such proposals put forward, the industry falls prey to negative knock-on effects.”

Seeff chairman Samuel Seeff says Lightstone data shows that only about 3% of all property in SA is foreign-owned.

However, Gopal does not believe the deeds office is in a position to provide reliable or accurate information on the actual extent of foreign land ownership in the country.

“Until we know this, one cannot implement policy changes,” says Gopal.

Seeff says foreign property owners are actually selling more quickly than they are buying. “While some R9.7bn in real estate was sold to

“The implementation of such a policy would reduce foreign investor confidence in South Africa, affecting the economy as a whole”

“We have seen this phenomenon time and again, with Reddam in Steenberg and Sea Point and the international schools in areas such as Hout Bay and Constantia, where the need to be close to certain schools drives the need for certain types of property” Lanice Steward, MD, Knight Frank Residential SA

Neil Gopal, CEO of the South African Property Owners Association ‘foreigners’, about R11.3bn in foreign-owned property was sold, thus leaving a negative net effect of R1.6bn,” he says.

With the bill tabled for later this year, RE/MAX of Southern Africa CEO Adrian Goslett says the more pressing issue is the lack of stability in the country, which “in itself could lead to a lack of infrastructure development as well as a lack of employment opportunities for South Africans”.

T

he new French school in Sea Point has contributed to an increase in demand for flats in the area, says Lanice Steward, managing director of Knight Frank Residential SA. “We have seen this phenomenon time and again, with Reddam in Steenberg and Sea Point and the international schools in areas such as Hout Bay and Constantia, where the need to be close to certain schools drives the need for certain types of property,” she says.

The school had its first intake of learners this year.

According to PropStats, property values in Sea Point are steady, with the average selling price in 2014 sitting at R2.4m.

NEIL GOPAL, CEO OF THE SOUTH AFRICAN PROPERTY OWNERS ASSOCIATION

Average house prices up 5% “While the average firsttime home price also increased in the past 12 months, to R651,000, the banks were in most cases prepared to finance about 91.5% of that”

New school drives demand

T

he average homepurchase price in SA, according to BetterBond Home Loans, is R930,000.

This was a 5.6% rise in the 12 months to end-January 2015.

Average home loans granted during this period covered only 83% of the purchase price. “Fortunately, however, things have generally been much easier for first-time buyers,” says BetterBond CEO Shaun Rademeyer. “While the average first-time home price also increased in the past 12 months, to R651,000, the banks were in most cases prepared to finance about 91.5% of that.

“This meant that the average first-time buyer had to save a deposit of about R55,000 only.”

Joburg market ‘needs new development — fast’

J

ohannesburg’s residential property market is being held back by the fact that new development has been slow to market.

“Sales volumes should be soaring, as demand from buyers is huge,” says Lew Geffen, chairman of Sotheby’s International Realty in SA. “But there is shockingly little for them to buy, particularly in the upper sector, because existing homeowners are not upgrading and so not releasing stock into the market. This is especially true in the more established central suburbs, where owners now often tell us they would much rather renovate or add to their current homes than buy a bigger or more luxurious property.”

Geffen says that, in his group, the average home-sale price has risen by more than 14% in the past 12 months to R3.2m, after an 8% rise in the previous year, because of rising demand.

“Upmarket units in Johannesburg are selling at about R30,000/m2, compared with about R18,000/m2 five years ago,” he says.

“Sales volumes should be soaring, as demand from buyers is huge” Lew Geffen, chairman, Sotheby’s International Realty SA

HOMEFRONT

Marketplace From sea to suburb to city, the country’s most beautiful homes await you

Cape Winelands to Whale Coast

FRANSCHHOEK

R37 million FRANSCHHOEK

Guest farm. Just 1km from Franschhoek with owner’s accommodation and profitable guest house business.

Beds: 17 Baths: 17 Garage: 30 Web Access FWI1204199 Doug Gurr 072 610 7208, Office 021 876 2100

BOSCHENMEER

R7.95 million VERMONT

Timeless elegance. Delightful north facing family home with excellent attention to detail. Magnificent in design and space.

Beds: 4 Baths: 4 Garages: 2 Web Access TK1207780 Igna de Villiers 082 884 8492, Hayley van der Merwe 082 926 8587

R3.595 million FRANSCHHOEK

Laurel cottage. This beautiful cottage, centrally located, offers excellent rental income or a lovely full-time property.

Beds: 3 Baths: 2 Garages: 2 Web Access FWI1198710 Shelly Schoeman 083 301 8833, Office 021 876 2100

R6.5 million PAARL

Characterful thatch home. On a large plot with mature garden, lovely mountain views and good village location.

Beds: 3 Baths: 3 Parking: 3 Web Access FWI1207236 Jeanine Allen 082 410 6837, Office 021 876 2100

R7.5 million

A charming new Cape Dutch home. Great ambience, extremely well positioned and immaculately maintained.

Beds: 4 Baths: 3 Garages: 2 Web Access TK1206565 Lynette Schoeman 082 553 3045

R11 million HERMANUS – EASTCLIFF R7.35 million HERMANUS – WESTCLIFF

A well-appointed beachfront home. Spectacular sea views, situated in a cul- de- sac.

Beds: 4 Baths: 4 Garages: 2 Web Access ON1198729 Louise Momberg 082 553 0427, Office 028 312 1110

Beautifully appointed beach house in exclusive area.

Wonderful outside living areas around a sparkling pool.

Beds: 4 Baths: 3 Garages: 2 Web Access HF1205880 Rose-Marie Marais 082 877 6160, Office 028 312 1110

R7.6 million

Magnificent artistic home. Under-floor heating, a heated pool, a generator, farm style kitchen with scullery.

Beds: 4 Baths: 4 Parking: 3 Web Access HF447978 Santa Bedeker 082 772 7052, Office 028 312 1110

Franschhoek +27 21 876 2100, winelandsint@pamgolding.co.za | Paarl +27 21 871 1480, paarl@pamgolding.co.za Hermanus +27 28 312 1110, hermanus@pamgolding.co.za

9596

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Western Cape

RONDEBOSCH

R6.6 million

Enjoy the luxury of space and light in this well loved family home.

Terrific indoor/outdoor flow onto level 1 091 m2 garden with large pool and mature trees. North-and-west-facing large lounge, family and dining room open to patios overlooking lush garden with stone and thatch rondavel.

Bedrooms: 4 Bathrooms: 3 Garages: 2 Web Access KW1201007 Robin Midgley 072 212 5714, Pearl Sparks 083 626 0806

GREEN POINT

R2.95 million incl. VAT

KENILWORTH

R4.99 million

CAPE TOWN CENTRAL

R4.2 million

Beautifully presented double-storey home and a pleasure to show. All the house you need situated in a quiet cul-de-sac. Immaculate, move in condition. Separate entry 4th bedroom en suite. Elegant dining room and lounge with fireplace. Family room opens to luxurious covered patio.

Bedrooms: 4 Bathrooms: 4 Garage: 1 Web Access KW1204716 Sharon Ellis 082 467 9991

Sophisticated and stylish city lifestyle. Attention to detail, comfort and views from this top-floor corner NY-style loft apartment. Spacious open-plan living area, exposed brick walls and sliding doors onto terraces with Table Mountain, Signal Hill and Lion Head views. Study on mezzanine. Pool.

Bedroom: 1 Bathrooms: 2 Parking: 1 Web Access CB1202738 Bridget Shiffer 071 605 5556, Peter Spencer 083 264 0971

CLOVELLY

MARINA DA GAMA

R3.45 million

R2.9 million

Perfect position, perfect presentation. Stunning apartment offering Signal Hill and Cape Town Stadium views with a glimpse of the sea. Offstreet parking bay. Close to restaurants, the V&A Waterfront and Cape Town Stadium. Price includes VAT. Bedrooms: 2 Bathrooms: 2 Parking: 1 Web Access AS1207071 Melanie 083 653 9297, Linda 082 556 9990, Jenny 082 808 9495

Modern Clovelly mountainside home. Tastefully renovated, with meticulous attention to detail, this modern home on the Clovelly mountainside offers the discerning purchaser an opportunity to acquire a unique property in this sought-after suburb. Being sold fully furnished.

Bedrooms: 3 Bathrooms: 2 Garages: 2 Web Access FH1199455 Sue Rosenberg 083 452 7990

Arguably the best location in the Marina. This west on water home once belonged to a famous previous and current owner. Uninterrupted views of the lake and mountains with potential to extend.

Bedrooms: 3 Bathrooms: 2 Garages: 2 Web Access FH1203046

WAVES EDGE

BLOUBERGSTRAND

LANGEBAAN

R6.5 million

R8.7 million

Beautiful landmark home with unspoilt views of Table Mountain. This triple-storey house offers large spaces for both privacy and entertainment. A double-volume entrance welcomes you with views.

Bedrooms: 5 Bathrooms: 5 Garages: 2 Web Access 1TV1205011

World-class ocean and Table Mountain views. The position of this property is unequalled on the waters edge and just a few steps from the beach.

Bedrooms: 4 Bathrooms: 3 Garages: 2 Web Access 1TV1206638

Garth Marquard 083 655 4646

AndrĂŠ Liebenberg 082 566 5461

Peter Lombard 072 713 4800, Christian Ligier 082 377 0022

ATLANTIC SEABOARD: Atlantic Prestige +27 21 439 1614, Camps Bay +27 21 438 3444, City Bowl +27 21 423 2150, Sea Point+27 21 439 7415 SOUTHERN SUBURBS: Quadrant +27 21 673 4200, Newlands +27 21 685 7759, Tokai +27 21 701 0191 SOUTHERN PENINSULA: Fish Hoek +27 21 782 6440, Noordhoek +27 21 789 1921 Simon’s Town +27 21 786 1612 Kommetjie +27 21 783 4222 Marina da Gama +27 21 788 8476 WESTERN SEABOARD: Big Bay +27 21 554 0033, Blouberg +27 21 557 1115, Sunningdale +27 21 556 2362, Sunset Beach +27 21 551 8640, WEST COAST: Britannia Bay +27 22 742 1001, Langebaan +27 22 772 2196/9066, Paternoster +27 22 752 2668, Saldanha +27 84 517 3290, St Helena Bay +27 22 742 1001, Veldrif +27 22 783 1511, Yzerfontein +27 22 451 2188 HOUT BAY: +27 21 790 5940

www.pamgolding.co.za

R1.3 million

West Coast Golf Estate. Double-storey cluster home situated in close proximately to the club house, 18 hole golf course, Mashie Course, putt driving range, tennis courts and bowling green. Excellent investment. Upmarket Clubhouse with 2 restaurants as well as a Beauty Spa. Bedrooms: 3 Bathrooms: 2 Garages: 2 Web Access LA1207764 Helene Sleigh 083 310 6630

Ask anyone who has been privileged enough to visit Blair Atholl and they’ll say they were awestruck and remember it well. This is the place of tranquillity, peace, privacy, luxury and most of all, you can rest assured, is very secure. It’s hard to ignore the overwhelming beauty of the countryside, mountains and the pristine Crocodile River flowing through. Blair Atholl truly offers an idyllic lifestyle.

The Estate offers its residents the best facilities. It has an award-winning golf course, clubhouse with restaurant and bar, paddocks and equestrian centre, walking and cycling trails and a wellness centre to unwind and recharge. Conveniently located near Lanseria Airport for travelling businessmen.

BLAIR ATHOLL, LANSERIA

BLAIR ATHOLL, LANSERIA

R20 000 000

SOLD! MASTER-BUILT HOME ON THE EDGE OF THE RESERVE! This magnificent family home has been built to perfection and with love. Situated within the exclusive Estate of Blair Atholl, this property is adjacent to the nature reserve area offering seamless flow from the property into the countryside. Every detail of this property has been well thought through and has resulted in a home with a wonderful relaxing atmosphere where friends and family gather on a regular basis. Blair Atholl brings the spirit of country living and an abundance of pristine natural beauty.

This is your personal invitation to join the privileged few who call Blair Atholl their home.

Donna 083 299 1575 blairatholl.wordpress.com

BLAIR ATHOLL, LANSERIA

R60 000 000

REMARKABLE “STATUS” HOME IN BLAIR ATHOLL, FEATURING PRIVATE GOLF COURSE AND EQUESTRIAN CENTRE This beautiful, river frontage home was built to the most exacting standards to create a grand, yet intimate lifestyle, uniting old country living with modern elegance. Luxurious internal living space with every possible family and grand-scale entertainment need catered for. Leading outdoors to the unparalleled lifestyle which is Blair Atholl, tucked away in park-like gardens overlooking the pristine Crocodile River. Enjoy your private putting green, tennis court, indoor and outdoor pools.

Conveniently located near Lanseria International Airport and minutes from the Fourways business district, this property appeals to the discerning buyer who values privacy. All offers will be presented.

Donna 083 299 1575 donna@remax-masters.co.za blairatholl.wordpress.com Web ref: 301624809

BLAIR ATHOLL, LANSERIA

R18 000 000

EXCEPTIONAL MODERN HOME IN BLAIR ATHOLL WITH SENSATIONAL PANORAMIC VIEWS. An architectural masterpiece, this impressive modern home includes 1,000m² of dramatic, modern, cool architecture and offers extraordinary views of the Magaliesburg and lies beautifully next to the Crocodile River. The contemporary house is comprised of five ensuite bedrooms, large living rooms with a grand dining room and a bespoke kitchen with scullery. Features include central vacuuming, 7,500 litre water tank, heated pool, Jacuzzi, koi ponds, heat pumps, piped sound and walk-in safe. Seven garages completes this home.

Enjoy entertaining in this memorable home!

Donna 083 299 1575 donna@remax-masters.co.za blairatholl.wordpress.com Web ref: 302318059

RIVER-FRONT CONTEMPORARY HOME IN PRIVATE AND EXCLUSIVE BLAIR ATHOLL This stunning modern home will suit the most sophisticated buyer. With every reception door opening up completely to the stunning undercover patio, bar, pool and enormous garden, with river-frontage, this home has it all for the best entertaining ever. There are four bedroom ensuites. The impressive main bedroom has a seating area, luxurious bathroom and a sizeable dressing room. Designer kitchen with separate scullery, dining room, study, gym with steam room and five garages, make this the ideal home for the executive business traveller.

Make your dreams come true!

Donna 083 299 1575 donna@remax-masters.co.za blairatholl.wordpress.com Web ref: 301828779

BLAIR ATHOLL, LANSERIA

R25 000 000

THE MOST ELEGANT LADY STANDING IN A PEACEFUL VALLEY “Nominated as one of Top Billing’s top locations of the year! Seen on Win-a-home and Top Billing” A classic and refined beauty hidden on a generous piece of picturesque countryside. Expertly designed around the pool and entertainment area, this home offers three bedroom suites, plus additional double guest suite (extra bedrooms), country-style open plan kitchen, dining room, reception rooms and wine cellar. Special features include doubleglazing, rain water harvesting, home automation, piped sound and everything you could ask for.

Come to view and fall in love!

Donna 083 299 1575 donna@remax-masters.co.za blairatholl.wordpress.com Web ref: 301767309

BLAIR ATHOLL, LANSERIA

R12 500 000

FABULOUS FAMILY HOME NEXT TO A BEAUTIFUL TREE GROVE IN BLAIR ATHOLL! This wonderful property offers 3 bedroom suites, plus a lovely guest suite. The entrance to this home is doublevolume and full of light, with floor to ceiling windows, and opens out to the other spacious reception areas. The modern kitchen has the gas hob fitted into the island and there is a separate scullery and pantry. At the top of the stairs is an awesome pajama lounge with access to the upstairs patio, ideal for a glass of wine on a summer’s day.

Perfect entry home into prestigious Blair Atholl!

Donna 083 299 1575 donna@remax-masters.co.za blairatholl.wordpress.com Web ref: 302319709

WEB REF: 3164960

RIVONIA • R5 700 000 SECURE AND SPACIOUS LUXURIOUS LIVING Easily maintained North-facing contemporary home with high quality finishes. Double-storey with open plan free flowing design. TV lounge, open plan dining room, luxurious jacuzzi area, patio and garden.

Private study. Niemann-finish kitchen and laundry. Smokeless heating system in living area and central vacuum system. American Beech stairway leads to pyjama lounge, 4 bedrooms and 3 bathrooms.

Double auto garage. Plus 2 bedroom flatlet with single garage.

ZAINE MC LEARY 083 283 2052 • zaine.mcleary@everitt.co.za DAPHNE KOWEN 082 575 1988 • daphne.kowen@everitt.co.za • 011 463 2033

WEB REF: 3262660

BEVERLEY • R4 150 000 THIS MODERN HOME IS JUST WAITING FOR YOU! Double volume entrance hall that leads you into this home with 3 receptions, open plan kitchen and an enclosed covered patio leading out to the pool with a deck. Go upstairs and you will find 3 bedrooms, all en-suite and opens out onto a balcony. The special features are automated irrigation, air conditioning, staff accommodation a full alarm system with garden beams, 2 fireplaces, double garage, lots of guest parking and its own security gates. You have come and see this beautiful home to appreciate it.

HELEEN NYSCHENS 082 337 7755 • heleen.nyschens@everitt.co.za 011 463 2033

WEB REF: 3260038 WEB REF: 3259019

NORTHCLIFF • R2 750 000 MODERN, MINIMALIST SOPHISTICATION PLUS SPACIOUS FLATLET Entrance hall leads to formal lounge, modern kitchen, separate breakfast room and scullery/laundry.

3 Bedrooms all en-suite, guest cloakroom and a secure inside storeroom. Large lounge/dining room with gas fireplace and gas braai overlook the sparkling pool in a lush garden with borehole and irrigation throughout. Double automated garages. Upstairs is a flatlet with separate entrance, with 2 bedrooms, a bathroom, kitchenette, living room and a balcony. Domestic quarters with private entrance.

ZANDREE LILL 084 840 5622 • zandree.lill@everitt.co.za MIRANDA PHILIP 072 252 3856 • miranda.philip@everitt.co.za • 011 801 2500

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NORTHCLIFF • R5 800 000 BEAUTIFUL RENOVATED, PRIME POSITION, CONVENIENT FOR BEYERS NAUDE This beautiful home in Northcliff has 4 bedrooms and 3.5 bathrooms. Magnificent master suite. Elegant grand lounge, glamorous dining room, family sitting room and a private study. Exceptional lower level entertainment area opening to patio. Neat tiled kitchen with plenty of preparation space and gas stove.

Relax by your pool or sit around the fire in the Boma set in an established garden. Staff room. Garage and carport. Off street parking.

ANDRE JACOBS 082 377 6439 • andrej@everitt.co.za DEBBIE ROSZ 072 225 3351 • debbier@everitt.co.za • 011 801 2500

BREATHTAKING SCENERY DURING THE DAY, AND A COLLAGE OF LIGHTS AT NIGHT

FINGERPRINT SECURITY

BACKUP GENERATORS

5 STAR HOTEL SERVICES

GYM

RUNNING TRACK

ON SHOW DAILY – LIFESTYLE OPPORTUNITIES FROM R3,9 MILLION Visit the latest apartments on Saturday and Sunday SHOW APARTMENT Unit 12018, The Houghton on the 12th, 53 2nd Avenue, Houghton Office – 011 034 2201 || Alan Becker – 082 718 8100 Email – alan@thehoughton.com

Safe. Secure.

Surrounded by nature.

POOL

AUCTION Poortview

75 Totius Rd, Poortview Eight bedroom, Opulent and elegant Home. This magnificent 1940 sq m under roof home is situated on 1.2336 Ha, park-like borehole garden, tennis court, and garaging for 12 cars. 8 bedrooms, 6 bathrooms (4 en-suite), two deluxe master en-suite bedrooms have their own Jacuzzi and dressing room. 7 reception areas, flow onto large entertainers covered patio. Enormous heated in-door swimming pool, gym, steam room, plus 2x full 2 bedroom flatlets. Asking R18 million. Web Ref: 23236 Viewing days: Sun 22nd Feb 14.00 to 17.00pm Wed 25th Feb 15.00 to 18.00pm Auction: Friday 27th Feb 11.00am Directions: Hendrik Potgieter rd, left into Doreen rd, right into Totius rd.

Warwick Atkinson 072 636 3671 | 011 763 1312

Atholl – R14.9 million

Three soaring reception areas flow from the entrance courtyard, streamlined kitchen to spacious patio, rim flow pool and garden. Upstairs, 4 luxurious bedroom suites, gym or fifth bedroom plus study. The extras include top of the range finishes, triple garage, double staff suite, sophisticated security system. Joan Mendelsohn 083 267 3124 | Lynne Baker 082 493 1006 | Web Ref: 87636

Upper Constantia – R24.9 million

The Epitomy of style and Sophistication! Double volume entrance hall and sweeping staircase. Dining room and formal lounge. Gourmet kitchen, family room and bar area to patio overlooking pool and landscaped garden on 4000 sqm.

Master suite with private patio and mountain views. Further 4 bedroom suites, study and lounge. Top security, wine cellar, 4 garages, ample parking, staff flatlet. Charne Shipper 083 274 6336 | Web Ref: 86292 RESIDENTIAL SALES & MARKETING • RENTALS • DEVELOPMENTS • HOME LOANS