Business Day Home Front 23 January 2015 by The Creative Group

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FRIDAY, JANUARY 23 2015

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DOES DIVORCE DRIVE HOME SALES?

POST-HOLIDAY RUSH GEMS TO VISIT

CAPE TOWN’S R4BN COASTLINE

LONDON ON R10,000 A WEEK

Searching for the R10,000 family home Is the three-bedroom home for R10,000 rental a month a thing of the past? We search Gauteng and the Western Cape for suburbs where such a find is still possible WORDS: DAVID A STEYNBERG :: IMAGES: ISTOCK, PAM GOLDING PROPERTIES, SEEFF

A’s per-capita GDP stood at $6,500 (about R74,000, or R6,166 a month) in 2014, and it is clear that for those families in the middle to upper income groups, R10,000 rental a month is a big chunk out of their salaries. Where, then, in the Western Cape and Gauteng can a family of three or four still afford to have a bedroom for each family member and be close enough to schools, public amenities and transport infrastructure?

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Camps Bay, Cape Town Offers from R150 million

Plettenberg Bay

Enigma Mansion. Palatial home set on a magnificent ±7000m² (3150m²) land adjoing nature reserve with its own stream, park, gardens ponds, waterways and unbelievable views! Asking R179 million. Contact: Thelma Sandeman 083 225 9360 Office: 021 438 5511 web ref: 612472

This contemporary home designed by Luis Ferreira-da-Silva, sitting high above Plett's expansive beaches and enjoying unparalleled sea views, is the kind of residence featured in magazines. Top finishes and fittings. A must see. Contact: Hein Pretorius 083 701 3159 Office: 044 533 2529

Each office is independently owned and operated

Offers on R18 million

Beverley, Sandton

Asking R12.5 million

Highly profitable, exclusive guest llodge for sale - conveniently situated with 10 individually styled luxury en-suite rooms, shady patio overlookinh the manicured lawns, pool and tennis court. Contact Sally 082 451 3111 / Marilyn 083 415 8909 Web ref: 797529

www.sothebysrealty.co.za

Stonehurst Mountain Estate

R14 million

A truly magnificent home perfectly positioned on this unique lifestyle estate commanding 360° views encompassing mountains, sea and national park fynbos. Serious offers considered. Contact: Dave Burger 083 458 3333 Brenda Pretorius 083 442 1318 Web Ref: 664213

LIFESTYLE

New flavours at Tokara Deli

A dollop of style, unpretentious cuisine and space for the kids make Tokara Deli a wonderful summery stop on the outskirts of Stellenbosch WORDS: RICHARD HOLMES :: PHOTOGRAPHS: SUPPLIED

DON’T LEAVE WITHOUT… Shopping up a storm. The Deli has a cornucopia of fresh and preserved products, including the full range of Tokara oils and cured olives. In the fridge you’ll find wheels of Klein River Grana Padano, wedges of slow-matured Healey’s Cheddar and local and imported charcuterie. The downstairs bakery turns out wonderful ciabatta, baguettes and sourdough.

January 23 2015

LIFESTYLE January 23 2015

Analyse it WORDS: PATRICK CAIRNS

Lessons from India

KIDS WILL LOVE… The Bird’s Nest. Hanging from a sturdy branch in a shady oak tree, this bolthole woven from bluegum bark is the ultimate tree house hideaway, with a short ladder leading up into a cocoon of cushions, books and toys. If you can’t find your kids when it’s time for them to eat their veggies, chances are they’re in here.

DRINK THIS…

The gleaming white pizza oven is an exciting addition to the deli

okara Estate on the Helshoogte Pass outside Stellenbosch has long been a destination with two faces. There’s art, wine and fine dining at Tokara Restaurant, where chef Richard Carstens is a wizard with flavour and texture And then, a short drive away — or better, a pleasant stroll through the olive groves — you’ll find Tokara Deli, a favourite haunt for local families wanting to savour lazy weekend lunches. Tokara Deli has recently undergone a menu makeover. With input from Carstens, head chef Christine Claasen has put together a compact menu

of seasonal dishes driven by fresh local produce and bold, uncomplicated flavours. Crispy hake in featherlight tempura batter is one of the better main courses, but you’ll also find a chalkboard of daily specials. Expect anything from a savoury mushroomand-cherry tomato tart to linguine tossed with artichokes, zucchini, olive oil, pine nuts and rocket. The gleaming white pizza oven is an exciting addition to the deli, producing thin-based, wood-fired pizza, including smoked salmon with buffalo mozzarella, and dukkah meatballs with Gruyère and pickled onions.

It’s unpretentious yet upmarket, homely yet modern. The same goes for the decor. It’s an airy, stylish space with floor-toceiling picture windows letting in panoramic views of the winelands. Outside, a spacious deck leads down to a wide lawn that’s ideal for kids to run riot. This is most certainly a familyfriendly destination, with two playgrounds, a kids’ menu and buckets of toys to ensure young ones are kept entertained and well fed. Reasonably priced, it’s a perfect summer escape in the Stellenbosch winelands. 021-808-5950, www.tokara.co.za

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

The 2014 Tokara Rosé. Perfect for lazy summer lunches, it presents raspberries and strawberries on the nose, backed up by a fresh crisp palate with plenty of summery berry flavours. For something more serious, the Tokara Reserve Sauvignon Blanc is a fine example of a cool-climate Sauvignon. There’s also a tempting selection of craft beers.

BusinessDay PUBLICATION

Editorial Consultant: Bridget McNulty Chief Copy Editor: Yaron Blecher

t the start of last year, anyone with any interest in emerging markets was talking about the “Fragile Five”. These were five developing countries whose currencies were under the most pressure due to high inflation, weak growth prospects, large current account deficits and a dependence on foreign investment. SA was in that group. So was India. Yet just a year later the prospects of the two countries have come to look very different. SA is still battling the same demons and continues to look vulnerable, with growth faltering and a stubborn current account deficit. India, however, seems to have turned into the world’s darling. Far from showing fragility, India was actually the top global investment destination for 2014. The National Stock Exchange of India’s benchmark CNX Nifty Index was up just over 30% last year while the BSE 100 on the Bombay Stock Exchange gained nearly 32%. Compare that with the S&P 500’s gain of 11,4% and the JSE’s growth of 7,6%. In 12 months India’s current account deficit has been pulled back, growth forecasts are being revised upwards, foreign investment is increasing and inflation is coming down. It is a dramatic turnaround story that has made the country stand out from other emerging markets. It also raises the question of what SA can learn from it. Much of India’s reversal is being put down to the election in May of Narendra Modi as prime minister. Modi has put a reform agenda on the table that has the investment world excited and lifted sentiment towards his country. To put the impact of his election in some context, Modi made an official visit to the US in September. Apart from meeting with President Obama and speaking at the United Nations, he also addressed a crowd of 18,000 people at New York’s Madison Square Garden. More than 30,000 people had applied for free tickets to the event. Modi has this

South Africa Population:

52,52million GDP:

$350.6bn GNI per capita:

$7,190

Forecast 2015 GDP growth:

India Population:

1.27billion GDP:

$1.877trillion GNI per capita:

$1,570 Forecast 2015 GDP growth:

6.3%

appeal because he has done something remarkable in India: he has inspired confidence in the country’s leadership and created a belief that things will get done. And that is the lesson SA would do well to understand: we are not short of capable or willing people here — what we lack is inspirational leadership. With some clear vision, decisiveness and a willingness to make tough decisions, we too could jump onto a very different path.

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

BEDFORDVIEW GAUTENG R12.5 MILLION

This home with sleek, modern lines offers extensive accommodation including 5 spacious bedrooms, a fitted bar, recreation room, a wine/poker room plus a rim-flow pool. The chef’s kitchen integrates with open plan living and entertainment areas. Bedrooms 5 | Bathrooms 5 | Garages 3

Gerald Latrè 083 447 1148

WEB ACCESS 1JE1201719

DAINFERN GAUTENG R12 MILLION

A grand home on the greenbelt in the secure Dainfern Golf Estate, providing extensive accommodation for the ambitious entertainer. Bedrooms 5 | Bathrooms 5 | Garages 3

Sue Ralph 082 892 8772, Brenda Gilbert 083 251 4452

WEB ACCESS FW1159249

BENMORE GARDENS

GAUTENG R11.25 MILLION Designed for relaxed, secure family living, this Waterstone Estate home has the feel of an Italian Villa, with uninterrupted views of Sandton.

Bedrooms 4 | Bathrooms 3.5 | Garages 2

Marion Dean 082 800 7168, Lesley Gray 082 554 9589

WEB ACCESS HP1196779

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

FRESNAYE UPPER WESTERN CAPE R18 MILLION

Quality, elegance, ambience and serenity are the keynotes of this ultra-modern home offering sophisticated low maintenance living high up in wind-free Fresnaye. The perfect retreat with panoramic views. Bedrooms 4 | Bathrooms 4 | Garages 2

WEB ACCESS PR1127949

Jackie Rosenberg 083 414 6600 Janice Toay 082 770 1510

V&A WATERFRONT WESTERN CAPE R24 MILLION

One of the finest penthouses with views over the canals and the City. Mezzanine study/family room leading onto large private pool deck. Good finishes throughout. Strong security at the complex. Bedrooms 2 | Bathrooms 3.5 | Parking 3

WEB ACCESS PR1046273

Lynn Pinn 083 631 4890 Paul Levy 083 300 3001 MariĂŤl Burger 082 372 2573

RONDEBOSCH/ SILWOOD WESTERN CAPE R7.3 MILLION

An early Edwardian gem built c 1906, with impressive original features, including pressed ceilings, intricate joinery, Oregon floors and fireplaces. Main bedroom opens to balcony with mountain views. Bedrooms 4 | Bathrooms 2 | Garages 2

WEB ACCESS KW1126143

Robin Midgley 072 212 5714, Pearl Sparks 083 626 0806

INVESTMENT January 23 2015

“We have had landlords lowering their rentals on termination of a long-term lease, to attract a new tenant” Marc Fauciglietti, Seeff Achiever agent

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Where can you live for R10,000 rent a month? By the numbers

20,615 — number of properties listed

10,810 — number

of properties listed for R10,000 and less

3,968 — number of three-bedroom, twobathroom properties

R3,000-R6,500 — average monthly rental

R12,000R15,000 — average

high-end property rental (Source: Property24)

According to Statistics SA’s 2011 census and its 2013 estimates, the Western Cape and Gauteng saw population growth of 1.5-million and 4-million people respectively in the past 12 years. In the category of interprovincial migration, Gauteng welcomed 1-million new residents and the Western Cape saw another 300,000 residents added to its suburbs. The two provinces stand out as destinations of economic opportunity, better governance and improved living standards. Interprovincial migration is both a blessing and curse for cities: it creates a bigger tax base from which to collect revenue, but the new arrivals are a headache to house. GAUTENG Retha Schutte, Pam Golding Properties’ regional executive for Pretoria and Centurion, says that of the 80 rental properties on her franchise’s books, roughly half fall in the three-bedroom, twobathroom category. “Average monthly rental across the entire book is between R6,500 and R60,000,” she says. “Seventeen fall below R10,000 rental in suburbs such as Pretoria East, North, Moot and Montana.” In Springs and Brakpan on the East Rand, says Michael van Heerden, there are 27 properties listed at less than R10,000 a month. “Properties in the Springs/Brakpan area are

generally older, with the majority dating as far back as the 1950s and 1960s, as is evident from the pressed ceilings found in most,” says Van Heerden, who manages the Seeff office in that area. “About 15 of those have three bedrooms. ‘Newer’ suburbs were developed around the mid-1970s and early 1980s. Although they are ‘old’ properties, they tend to be in a good state of repair and have been maintained or revamped over the years.” Closer to Joburg’s Northern Suburbs, in Northcliff, Fairland and Weltevreden Park average rentals stand at more than R9,500 a month, according to Rochelle Holland of Seeff. Yearly rental escalations of 5% to 10% are the norm. “Tenants cannot afford the higher-priced properties and their credit scores are low,” she says. Osa Maxwell from Rawson Paulshof says that just seven of the 12 rental properties on his franchise’s books are available for R10,000 or less and that three of them have three bedrooms and two bathrooms. “The homes are between six months and six years old, are of good quality and are near four shopping malls, the bus route, primary and high schools and Sunninghill Hospital,” says Maxwell. Bedfordview and Edenvale have very active rental markets, according to Seeff Achiever agent Marc Fauciglietti, who says that 212 of the 240 rental properties

PAARL. on his books fall well within the R10,000 price band. “Some 65 properties have three bedrooms and more,” he says. “For R 10,000 and less, families are generally opting for sectional title complex living. Two reasons for this would be security and the high costs of consumption charges on a freestanding home. The sectional title complexes are generally seven years old or younger. The main concentration of these would be in the growing node of Greenstone Hill, which is attractive because the complexes are modern, with up-to-date finishes such as Caesarstone kitchen surfaces.” On a maximum budget of R10,000, a freestanding home in these areas would provide a limited number of facilities and middle-ofthe-range finishes, he says. “For R10,000 and less in the Edenvale area, the home would be of an average standard. But when you are looking within this budget in a more sought-after, enclosed area of Edenvale, the property would generally

be below the standard of the neighbouring properties.” WESTERN CAPE Dexter Leite is the rentals manager for Pam Golding Properties in the Western Cape metro region, covering the Southern Peninsula, Southern Suburbs, City Bowl and surrounds, the Atlantic Seaboard through to Camps Bay and the Northern Suburbs. There are no threebedroom homes available for R10,000 or less in the Southern Peninsula, though they do come on the market from time to time, says Leite. “Generally, apartments in this area go from R7,500 to R10,000 a month, and three-bedroom homes go for R9,500 to R12,000 a month, subject to availability,” he says, noting that in the Southern Suburbs, such as Harfield Village, Lower Kenilworth, Lower Claremont, Plumstead, Kirstenhof, Wynberg, Rondebosch and Rosebank, two- and three-bedroom properties are available for less than R10,000 a month. “All these areas are, however,

stock constrained.” In the City Bowl and surrounds, student accommodation and entry-level two-bedroom units rent from R8,000 to R9,000 a month. However, you will struggle to find a rental property for this amount in the Waterfront precinct or elsewhere along the Atlantic Seaboard. “In the Northern Suburbs, properties do rent for R10,000 and below in the Bellville, Parow and Brackenfell areas, close to and to either side of the N1,” says Leite. “The properties tend to be up to 20 years old and are generally in a good state of repair and of good quality.” In the Bellville region, says Seeff’s Ryno Beck, anything from a starter flat or townhouse to a family home with three bedrooms can be found for less than R10,000 a month. “The suburbs offering the best value are Oakglen, La Rochelle, Stellenridge and Stellenberg, where rental rates range from R6,500 for a townhouse to R8,000 or R9,000 for a house,” says Beck. “Townhouses generally offer two bedrooms, one bathroom and a single garage, while houses offer three bedrooms, 1.5 or two bathrooms and a single or double garage.” In Table View and surrounds there are a number of new developments made up of smaller homes (100m2 to 110m2 for three bedrooms) that rent from R7,500 a month, says Christa von Moltke, rental manager at Pam Golding Properties Blouberg. “This is suitable for older tenants or families with either no or very young children,” she says. “Any three-bedroom home, from 120m2, for less than R10,000 a month is rare

The Gini’s out the bottle The Gini Coefficient is a ratio between zero and one. It measures the level of inequality in a country. The higher or closer to one the figure, the greater the inequality.

Last year the World Bank found that when tax policy and government spending programmes were included, SA’s Gini coefficient fell from 0.77 to 0.59 — the largest reduction in poverty and

inequality of 12 peer middleincome countries, including Brazil. When the fiscal policies were not considered, the number jumped to 0.771 as opposed to Brazil’s 0.597 and Mexico’s 0.511.

INVESTMENT January 23 2015

and sought after, regardless of condition or area, simply because the tenants cannot afford to pay more.” Goodwood, Tygerdal, Edgemead and Bothasig are central suburbs with good access to the N7 and N1. “They are some of the most affordable in Cape Town when it comes property,” says Seeff Goodwood licensee Johann Groenewald. “Midsize three-bedroom family homes will go for R7,000 to R10,000 a month. All are close to public transport, including bus, train and taxi services. Good primary and high schools are within walking distance and there is an abundance of safe aftercare facilities available in and around the residential areas.” In the Blouberg region, the suburbs of Parklands, Table View and Sunningdale are among the most affordable areas in Cape Town. Seeff Blouberg licensee Wouter Pentz says Parklands offers family homes from R8,000, Table View has homes for rent from R10,000, and Bloubergsands from R10,000 to R15,000. “When renewing leases we achieve 6% to 8% escalation. However, when the property goes back on the market, 10% to 15% escalation is achieved,” he says. “There is huge demand for rentals and a massive shortage of rental stock in the three areas. Seeff’s three rental agents receive up to 20 telephone enquiries for rental accommodation each day.” KWAZULU-NATAL Carol Reynolds, Pam Golding Properties’ area principal for Durban, Durban North and La Lucia, says: “Durban continues to offer great value for money relative to the rest of the metros in the country. It is still possible to rent a three-bedroom home for R10,000 in some lovely family nodes, such as Glenwood and pockets of Berea. North of the Umgeni River the rental prices start to climb, but areas such as Umgeni Park still offer good value and threebedroomed duplexes are still priced at around this figure.”

FAERIE GLEN.

WELLINGTON

TABLE VIEW.

FLEURHOF.

ABBOTSFORD.

CENTURION.

UMGENI PARK, DURBAN.

“In some instances long tenancies lead to landlords suffering a rental lag because the annual rental escalations do not keep abreast of market activity and rental levels” Dexter Leite, rentals manager, Pam Golding Properties Western Cape metro region

ADVERTISING FEATURE January 23 2015

One Hyde Park breaks ground Building has begun on One Hyde Park, a landmark in executive living that represents the best in location, luxury and lifestyle

onstruction has begun on the development One Hyde Park, adding an exclusive executive lifestyle offering to one of Johannesburg’s most sought-after addresses. One Hyde Park offers luxurious and spacious executive en-suite units situated moments away from Hyde Park Corner, Melrose Arch, Sandton City and the newly rejuvenated Rosebank Mall. As such, One Hyde Park offers unparalleled convenience

and variety through its easy access to prime business, shopping and entertainment centres. One Hyde Park’s entrance is off Hurlingham Road, further enhancing the convenience of its location. One Hyde Park represents the very pinnacle of luxury living, combining urban sophistication with contemporary comfort. Each suite is impeccably designed and features large open-plan living spaces, a modern kitchen and generous balconies.

A number of design variations are available to suit the owners’ preferences, but all have carefully considered arrangements that optimise the sense of space, continuity and flow between rooms and emphasise the connection between interior and exterior spaces. All units come with reserved basement parking. As a complete lifestyle solution, One Hyde Park provides a host of convenient, lifestyleenhancing services, including

a reception with concierge service, 24-hour security, an exclusive urban restaurant and a coffee shop. The building features a bouquet of essential executive facilities, such as conference rooms, a fitness centre and a pool with day beds. The option of a bespoke interior design service is offered exclusively by Jayd Designs, a subsidiary of Lynn Estates, the designated marketing and sales executive for One Hyde Park.

“We are very excited to have broken ground at this new landmark of luxury living in Hyde Park,” says Lynn Petzer of Lynn Estates. “There simply is no better address, and the space and luxury of these suites speak for themselves.” Lynn Estates has specialised in the marketing of top-end developments in the Sandton area for 26 years and has played a central role in the reinvention of Sandton’s skyline. Its previous landmark projects include the Michelangelo Towers, the Raphael Penthouse Suites, Sandhurst Towers and Sandton Skye. “One Hyde Park offers investors incredible value for money,” says Petzer. “In addition to the development’s unparalleled lifestyle offering, these units are assets designed to create high tenant desirability and capital growth.” Executive suites are available from R2,985,000 and are expected to generate rentals in the region of R25,000 a month. Lynn Estates will also offer lifestyle management services through bconnect, a forward-thinking online service solutions enterprise. Phase 1 of One Hyde Park — a four-phase development, developed by SectorFive and QDF Trading — is 70% sold. Please contact a Lynn Estates sales executive for more information about this exclusive opportunity.

ADVERTISING FEATURE January 23 2015

ONE HYDE PARK FEATURES Exclusive executive suites from R2,985,000 Estimated rental of R25,000 a month Entrance from Hyde Park on Hurlingham Road Close to Hyde Park Corner, Rosebank Mall and Melrose Arch Reception Concierge Urban restaurant Conference facilities Fitness centre Pool with day beds Basement parking 24-hour security Phase 1: 70% sold Located close to top-class restaurants, banks and law and accounting firms. Under construction

FOR MORE INFORMATION, CONTACT LYNN ESTATES:

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

“There simply is no better address, and the space and luxury of these suites speak for themselves” Lynn Petzer, Lynn Estates

INVESTIGATIVE January 23 2015

“Residential property is as much about homes as it is about bricks and mortar” Carol Reynolds, area principal, Pam Golding Properties Durban North

How splitting up affects home sales Does divorce fuel home sales? The answer is not as cut and dried as you might think WORDS: GRAHAM BARLOW :: IMAGES: SUPPLIED

Statistics: spike in divorces in South Africa

2011-2012: 39,573 2012-2013: 50,517

he 1960s arguably produced some of the most memorable music of the 20th century, but they also witnessed tear-jerking, nauseating schmaltz such as Tammy Wynette’s D-I-V-O-R-C-E, a phenomenon that is on the rise in SA. Figures published in 2014 by the justice department show an increase of 28% in divorces, from 39,573 in the period from 2011 to 2012 to 50,517 in the period from 2012 to 2013. In particular, there has been a steep rise in the rate of divorces of black South Africans: in 2002 the percentage of divorce among black couples was 22.5% to white couples’ 45.25%. By 2013 the numbers were almost equal at 32.9% to 33.2%, with the percentage of whites falling to second place. Apart from the inevitable emotional impact of legal separation and its far-reaching effects on both spouses and their children, there is the equally demanding — and, more often than not, hard-fought — division of assets. Since the advent of the accrual system in November 1984, spouses can elect

to draft their antenuptial contracts so that each party will acquire a fair share of the assets if the marriage ends in divorce (according to the justice department’s survey, sex and money are the two biggest culprits in cases of divorce). Included in the asset base taken into account at the time of drafting the antenuptial agreement is the somewhat stolid “immovable property”, which can be interpreted in more common terms as the

“Compared with the majority of sales of property transfers, transactions related to divorce only make up a small percentage of the total” Jonathan Davies, joint area manager, Pam Golding Properties Hyde Park

house, or houses, owned by the separating partners. Without going into the mathematics and various permutations that can be anticipated by married couples, it can be readily understood that on divorce the “fixed property” will normally form the bulk of the estate that needs to be divided according to the clauses of the antenuptial contract. The “immovable” qualifier is an important descriptor — on divorce, houses cannot be divided and shared, so if a partner cannot afford to buy out the other’s share, then a property sale seems inevitable. But is it? Given the statistics above, does the high number of divorces in SA drive the property market in any way? Similarly, is there any difference in effect based on area and economic considerations? To keep the playing field level in these enquiries, Pam Golding Properties (PGP) managers and area principals nationwide were asked these questions and their comments make for interesting reading. Carol Reynolds, area principal for PGP Durban

North, focuses strongly on the personal, more sentimental aspect of divorce: “Given that residential property is as much about homes as it is about bricks and mortar, it is a very personal business and, invariably, circumstances — good or bad — drive people to sell. These circumstances include, inter alia, divorce. So while divorce is by no means a market driver per se, it is a changing circumstance that triggers sales. “From the perspective of driving market activity, other factors play a more significant role, such as the general state of the economy and the lending climate.” Laurie Wener, MD of PGP Western Cape Metro Region, has been monitoring property sales drivers since the 1980s. Says Wener: “Divorce is not a new reason by any means, and we have no formal statistics except that, regrettably, divorce is indeed a fairly significant driver of sales, especially in the traditional family home suburbs, and it tends to occur before the retirement motivation.” Basil Moraitis, area manager of PGP Sea Point, says that although motivators of this nature might be important at the time of sale, reasons for sale are not recorded, making it difficult to plot trends over a period of time. Says Moraitis: “While getting divorced is one of the reasons people elect to sell their properties, there has not been a significant increase or decrease in this number over the years.” Wayne Rubidge, area manager for PGP Karoo Region, says divorce can lead to multiple outcomes as far as

“Regrettably divorce is indeed a fairly significant driver of sales, especially in the traditional family home suburbs” Laurie Wener, managing director, Pam Golding Properties Western Cape Metro Region

property is concerned. “When divorce occurs, the estranged couple normally ends up selling some of their assets, which is often property but is not necessarily the family home, as one of the parties often moves out of the family home and looks elsewhere. If the family property is being sold, it may mean that one, if not both, of the parties involved may be looking for new, perhaps smaller, homes to restart their lives.” Wayne often encounters another scenario that is relevant to the less stressful countryside areas: “When families and couples move to or buy a property in the countryside, it is often to get away from urban pressures and to enjoy a more quality lifestyle and experience, with the hope that a new start will change the issues in the relationship.” But, he admits, often this does not work out and the properties are put back on the market within 18 months, which is good for sales but not for divorce statistics. Statistics for divorces by region are not available. Gauteng has the highest percentage of marriages in the country (21%), with the Western Cape, KwaZuluNatal and the Eastern Cape all weighing in at 16% apiece, so it can be assumed that the divorce rates follow a similar pattern. Does this mean that the Gauteng area property market is positively affected? Says Jonathan Davies, joint area manager for PGP Hyde Park: “The short answer is no, not to any significant extent. Compared with the majority of sales of property transfers, transactions related to divorce only make up a small percentage of the total.” He admits that divorcedriven sales are worth further exploration. “A divorce may not only see the couple placing their own home on the market but, assuming they don’t rent, may also result in two further property transactions taking place, as both parties will need to find alternative accommodation.’ Does a high divorce drive the property market? The jury is out, but from the agents’ responses it would seem that while the high divorce may generate sales, it is not a significant market driver. Tammy Wynette might approve — so long as she doesn’t sing about it.

News (TO BE FILLED IN BY Bday) January 23 2015

Muizenberg’s old village in high demand

uizenberg has witnessed a tenfold average increase in residential property values since 2002. Today, many homes in the old village are selling for close to R2m. This is according to Errol King, franchisee for Rawson Property Group’s Muizenberg office, who says homeowners in Muizenberg’s old village have found themselves in a seller’s market where demand exceeds supply. Prices have been rising at a rate of 8% to 10% a year. Says King: “It is now more appreciated by investors that Muizenberg really does offer good value, but that fact is still not fully grasped by the majority of Capetonians, who are inclined to see Muizenberg as rather far away, when it is in fact conveniently positioned for most of the Cape Peninsula and for Cape Town.”

“Muizenberg really does offer good value, but that fact is still not fully grasped by the majority of Capetonians” Errol King, franchisee, Rawson Property Group

Low income areas outperform high end “While the difference between segments is not yet that big on an annual basis, examining the growth rates on a quarter-onquarter basis it becomes far more significant, with the low income segment having accelerated to 3% quarter on quarter by the fourth quarter of 2014, well higher than the middle income area’s 2%” John Loos

JOHN LOOS, HOUSEHOLD AND PROPERTY SECTOR STRATEGIST, FNB

or 2014 as a whole, the FNB House Price Indices by Area Value Band show the low income metro areas (average 2014 price of R448,6596) averaging 8.6% house price inflation. This was followed by the middle income area segment (average 2014 price of R1.315m) with 7.7% and upper income areas (average

2014 price of R2.192m) with 6.6%, while the lower middle income areas (average 2014 price of R834,064) showed the slowest average price inflation of 6.3%. “While the difference between segments is not yet that big on an annual basis, examining the growth rates on a quarter-on-quarter basis it becomes far more significant, with the low income segment having accelerated to 3% quarter on quarter by the fourth quarter of 2014, well higher than the middle income area’s 2%, the next highest area value band,” says John Loos, household and property sector strategist at First National Bank. “What’s changed in 2014 is that first-time buyers appear to have gained renewed confidence during 2014. After what appeared to be the start of a declining trend around 2012-13, first-time buyers expressed as a percentage of total homebuyers started to increase once more in 2014 to levels above 25%, according to the FNB Estate Agent Survey.”

Additional affordable housing in KZN

here is higher demand than supply in just about all property classes across the country, and none more so than the middle market, according to Brendan Cullingworth, divisional manager of Urban Housing. “This is particularly true for the country’s emergent middle class, where the lack of stock continues to influence prices,” he says, noting that the premise of entry-level housing is to service the section of the market which doesn’t qualify for a government subsidy but which also does not earn enough to qualify for a bond at the higher end of the market.

Says Cullingworth: “The entry-level housing market in SA is defined as households earning between R3,500 and R25,000, a sector which makes up just more than 30% of the entire home loan market.” The Standard Bank Group has, in conjunction with the KwaZulu-Natal provincial government, agreed on a series of measures to identify and develop affordable housing projects in the province. One such project, named Woodmead, is situated in Shakaskraal, a town in the Kwadukuza municipality on

the north coast of KwaZuluNatal. Set on about 400ha, Woodmead will comprise three development nodes: 3,400 residential stands, 50,000m2 of retail space and a 150,000m2 serviced industrial area. Woodmead will also house a transport hub, including a taxi rank. “Phase 1 will offer entrylevel buyers a selection of homes ranging in price from R340,000 to R450,000,” says Cullingworth. “The municipality has allocated more than R45m to the scheme, which has been used to develop a taxi rank in the area.”

PROPERTY January 23 2015

Bye-bye crowds It is with good reason that SA’s beach resort towns draw holidaymakers from across the world. But now that the crowds have returned to their desk jobs, it’s the perfect time to book a break in these top-five seaside escapes WORDS: RICHARD HOLMES :: IMAGES: SUPPLIED

Old-school Wild Coast The historic hotels of the Wild Coast have survived for generations, and with good reason: they provide a hassle-free coastal holiday and are usually favoured by those with kids in tow. You will find the grand old ladies

of the Wild Coast stretching from Morgan Bay outside East London all the way up to Umngazi River Bungalows and Spa, and Mbotyi. Take your pick — you won’t be disappointed, anywhere along this coast.

Paternoster An overdose of quaint on the West Coast of SA, this quiet holiday village, two hours north of Cape Town, is superb once the crowds have left. There is plenty of self-catering and guesthouse accommodation on offer and a handful of truly great restaurants to enjoy. Work up an appetite with a long walk on a deserted beach. For a splurge, book a bed at Abalone House, and don’t miss out on the innovative West Coast cuisine at chef Kobus van der Merwe’s low-key eatery, Oep ve Koep.

For a splurge, book a bed at Abalone House, and don’t miss out on the innovative West Coast cuisine at chef Kobus van der Merwe’s low-key eatery, Oep ve Koep

INVESTIGATIVE January 23 2015

Ramsgate

This KwaZulu-Natal South Coast town throngs with sunseeking Gautengers in the summer season, but now that they’ve trekked back north the Blue Flag beach at Ramsgate is yours for the taking.

If you fancy getting active, there is great fishing and surfing all along this coastline. Aliwal Shoal and Protea Banks are also in striking distance for keen divers.

Kenton-on-Sea

Big manufacturers keep wheels turning in Vereeniging market The Vaal River, good educational facilities and large industrial corporations continue to attract buyers to Vereeniging. The only issue is that new stock is slow out of the blocks WORDS: GRAHAM WOOD :: IMAGES: SUPPLIED

S What’s not to love about a region that bills itself as the Sunshine Coast? From Boknes Strand to Port Alfred, there are plenty of great holiday options on this stretch to the east of Port Elizabeth, but Kenton

remains a firm favourite. Cast a line in the river, let your kids paddle in the lagoon, take a canoe upstream or just work on your tan on Kariega Beach — all the while chuckling at the thought of your colleagues stuck in the office, of course.

Sedgefield

This Garden Route town used to live in the shadow of its more glamorous cousins, Knysna and Plettenberg Bay, but it is fast becoming a popular getaway on this scenic stretch of coastline. The weekly farmers’ market is a

good place to stock up on local produce to take back to your cottage on the edge of the Swartvlei Lagoon. Pack your clubs too, as the top-notch golf courses near George are just a 30-minute drive away.

et on the northern bank of the Vaal River, where it divides Gauteng from the Free State, Vereeniging is recognised as one of SA’s most important industrial and manufacturing centres, and its residential property market is largely dependent on purchases by the managers and employees of large local companies. Its most active property market segment is homes in the R500,000 to R700,000 price range in established suburbs such as the Three Rivers extensions, Arcon Park, Waldrift, Sonlandpark, Falcon Ridge and Duncanville, as well as the Vereeniging CBD. Large concerns include Anglo Coal, ArcelorMittal Steel (formerly Iscor), CBI-electric,

“Another big market driver at the moment is downsizing, with many older homeowners wanting to sell their family homes and move to a ‘lock-upand-go’ home in a secure complex or on an estate” Cotie Tyson, area specialist Sotheby’s International Realty

DCD-Dorbyl Ringrollers, Dixon Batteries, M-Tec, Rand Water and Vereeniging Refractories. They have in recent years generated many new jobs and in turn increased the demand for accommodation. “Unfortunately there is a shortage of homes in Vereeniging that are affordable for first-time buyers,” says Donovan Melville, a long-time resident of the town and the local Chas Everitt International Notebook licensee, “and this has boosted the rental market as well as the demand from buy-to-let investors. “There was very little new residential development here for several years, but recently there have been some new developments of sectional title apartments priced at around R500,000 for a two-bedroom unit. Many of these flats have been bought by investors, who can expect rentals of about R4,500 a month for such units, and although there is plenty of room in the market for similar projects, a lack of infrastructure capacity is a big constraint at the moment.” Another big market driver is downsizing, with many older homeowners wanting to sell their family homes and move to a lock-up-and-go home in a secure complex or on an estate, says Cotie Tyson, the area specialist for Sotheby’s International Realty. To accommodate this demand, developers have recently delivered some new townhouses in the R900,000 to R1m range in Three Rivers, and several new estates such as Riverspray in Bedworth Park,

which offers sectional title homes from about R720,000 as well as stands at from about R195,000 and new freehold homes from about R1.5m. Such developments are also popular with an increasing number of non-local retirees and families relocating to Vereeniging in the wake of the development of a new industrial corridor along the upgraded R29 arterial. Major attractions for such buyers are good medical facilities, including a Medicross centre, the Midvaal Private Hospital and a provincial hospital, easy access to large shopping malls such as River Square and River Walk, and excellent public and private

schools as well as proximity to the Vaal campus of Northwest University and the Vaal University of Technology in nearby Vanderbijlpark. “And, of course, the Vaal River itself is a big drawcard, not only for residents but for increasing numbers of weekend tourists and secondhome buyers who revel in activities such as boating, canoeing, waterskiing and fishing,” says Melville. “Indeed, there has definitely been an increase in demand in recent months for luxury riverside homes at prices upwards of R3m, especially those located in gated estates such as Sugarbush and Summerview in the Three Rivers area.”

INVESTMENT January 23 2015

Atlantic Seaboard turns over R4bn in 2014 The Western Cape’s gem, the Atlantic Seaboard, clocked in close to R4bn in sales last year. Here is why this stretch of coastline is so popular and so profitable WORDS: DAVID A STEYNBERG :: IMAGES: SUPPLIED

roperties to the value of just less than R4bn changed hands on Cape Town’s Atlantic Seaboard in 2014, making this stretch of coastline, less than 20km in length, by far the richest real estate market in SA. This is according to Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty, who says that while top prices per square metre in Johannesburg tend to be about R30,000, on the Atlantic Seaboard buyers are willing to pay more than R100,000 a square metre. Geffen’s opinion is shared by Seeff chairman Samuel Seeff and Pam Golding Property Group CEO Andrew Golding. According to research

company Lightstone, sectional title properties worth more than R1.8bn were sold in the suburbs between the V&A Waterfront and Llandudno in 2014. Freehold property sales for the same area amounted to just less than R2bn. This is significantly less than the R6.233bn in sales accrued in 2013, but the decrease was entirely the result of stock shortages rather than a lack of appetite for the area, says Brendan Miller, Atlantic Seaboard CEO at Lew Geffen Sotheby’s. “We simply don’t have enough residential property to sell, especially in the sectional title bracket under R6m,” says Miller. “Most properties in that range don’t even

make it to market. When we get them on our books we contact our buyers’ lists and generally sell them straight away without actually listing. Several apartments have in fact been sold for more than their list price because there is such fierce competition for Atlantic Seaboard property in this price bracket.” Across price brackets, from about R1m to nearly R100m, the average listing period for flats and houses on the Atlantic Seaboard in 2014 was less than three months, according to Lightstone. “While you expect the higher-priced properties to take longer to sell, that’s not always the case. In 2014 in Clifton a property was sold for R55.86m just five days after listing, and another in Fresnaye sold for R64.8m in the same amount of time,” says Geffen. The richest markets per square metre on the Atlantic Seaboard, though, are undoubtedly the front yacht basin at the V&A Waterfront, and Clifton. According to online sales database Propstats, the highest price per square metre achieved at the Waterfront last year was R97,262 for a 252m² flat in Dock Road. “We recorded the highest individual sale in the Waterfront for the year, though, which was a penthouse that sold for R38.5m, at R78,411 per square metre,” says Geffen. But in

Clifton, sale prices exceeded R100,000 a square metre on several properties in 2014, continuing a trend that has lasted at least three years. “The very top end of the market really doesn’t seem to feel the same impact of an economic downturn or even a global recession,” Geffen says. “Properties in Clifton were selling at more than R100,000 per square metre in 2011 at the height of the world economic crisis, and they still are today. “Only seven houses were sold in Clifton in 2014, according to the deeds office, but they had a remarkable combined value of R158m. “And in April 2014 two garages in Clifton were sold for R1.6m and R2m respectively. That’s with no property attached — just two single garages each measuring no more than 20m². There is no residential market in SA that can begin to compare to Clifton.” Although prices weren’t close to those achieved on the Atlantic Seaboard, the Johannesburg metro was up by 11% last year, according to Seeff. “Standout areas include Sandton, where Seeff sold two Bryanston homes at R30m each towards the end of 2014 — quite significant, given that very few properties sell for more than R20m in Joburg,” he says, noting that coastal areas have seen renewed interest in holiday villages, such as Jeffreys Bay and Kenton-on-

Sea, the Garden Route and especially Plettenberg Bay, the Cape Southern Coast areas such as Witsand, and the Cape West Coast, such as Langebaan and Paternoster. “Hermanus and the Overstrand (Pringle Bay) has seen its turnover boosted significantly on the back of an overall improved sentiment in the market. The countryside and winelands areas have also performed well, with Seeff’s turnover up by more than 20%.” Geffen says that since 2008 Clifton houses on the Atlantic Seaboard have shown the highest year-on-year price percentage growth at 11% a year, followed by Sea Point at 10% and Camps Bay at 7%. In terms of year-on-year sectional title sales over the same six-year period, Bantry Bay performed the best, with an average price percentage increase of 15% a year, followed by Sea Point at 7% and the Waterfront at 6%. Geffen expects the market to remain buoyant in 2015 — so long as there is stock to sell. “The Atlantic Seaboard is very much at odds with the rest of SA in that the market is far less dependent on interest rate fluctuations. In our experience more than 80% of sales are cash deals rather than bonded homes,” says Geffen. “The only thing that could derail the upward trajectory of the property market there in the medium term would be a drastic

INVESTMENT January 23 2015

“No more than 30% of properties in Clifton are owneroccupied full time” Lew Geffen, chairman, Lew Geffen Sotheby’s International Realty

national economic downturn, such as the country formally moving into a recession.” He says much of the value of property on the Atlantic Seaboard is derived from the investment value of the area as an international tourist destination. “No more than 30% of properties in Clifton are owner-occupied full time. The remainder are investments that are used as holiday homes and rented out on short lets when the owners aren’t in residence,” he says. “Prime beachfront homes and the large hillside villas in Clifton can achieve rental rates of up to R90,000 a day in peak season, but the average is about R30,000. Even onebedroom flats in Sea Point can be let for up to R2,000 a day. That presents a substantial return on investment to owners over a few years.” Geffen has no doubt the Atlantic Seaboard will remain an attractive property investment location for buyers in the coming year, with sales numbers easily exceeding 2014. “Prices on the Atlantic Seaboard will categorically not be going down. If people are considering buying in the area they shouldn’t wait, especially if the aim is getting a foothold on the lower end of the market, because next year that lowest rung will most likely be out of reach.” He says the best areas to find properties for below the R5m mark are Sea Point, Green Point and Three

Slices of the pie

R1.5bn —

Pam Golding Properties’ total market value on the Atlantic Seaboard for 2014

R1.7bn —

Seeff’s total market value on the Atlantic Seaboard for 2014

“The countryside and winelands areas have also performed well, with Seeff’s turnover up by more than 20%” Samuel Seeff, chairman, Seeff

Anchor Bay, where owners can expect a nominal return on investment of about 17% a year over eight years. “On the Atlantic Seaboard as a whole, there’s also no reason for sellers to wait for the market to rise if they’re upgrading, because their new properties will deliver a greater return on investment on a proportionally higher scale — all markets are relative to one another,” Geffen says. “If you’re serious about buying on the Atlantic Seaboard, list with agents to get access to the full range of what little stock is available, and if needs be, get bond pre-approval. The reality is that if you don’t move fast on a purchase, you’ll lose out.” General market sentiment looks set to remain positive. “All things being equal, the residential property environment that prevailed over most of last year looks set to remain in place for this year,” says Golding. “Last year’s market was characterised by a shortage of stock in most metropolitan areas in the country, an oversupply of well-qualified buyers, and as a consequence of real house price growth, probably in low double-digit numbers. “The market is also characterised by a very strong rental market and rising rental yields as a consequence of renter demand, and the re-emergence of the coastal and second-home markets.”

“All things being equal, the residential property environment that prevailed over most of last year looks set to remain in place for this year” Andrew Golding, CEO, Pam Golding Properties

INTERNATIONAL January 23 2015

Paris is outperforming France by 66.8%, and London is outperforming the UK by 72%, having shown unprecedented rental growth of more than 50% in some districts since 2011

Shoestring stays What R10,000 gets you in key cities around the world WORDS: ANNA-MARIE SMITH :: IMAGES: KNIGHT FRANK; HARCOURTS, ISTOCK

he rand’s limited buying power against strong currencies means that budget-conscious South Africans have little choice but to opt for shorter stays when traveling overseas. According to the Knight Frank Global Cities Index 2015, high rentals are directly related to the GDP per capita in large cities, owing to the outperformance of national economies. Paris is outperforming France by 66.8%, and London is outperforming the UK by 72%, having shown unprecedented rental growth of more than 50% in some districts since 2011. The key driver behind high rentals in the world’s leading cities is their location within a 50km radius of top schools. The best options for short city stays, according to Knight Frank International, are away from prime locations, financial hubs, and high-brow academic institutions. The sum of R10,000, excluding public transport from the city outskirts, will cover visits of varying duration for couples and small families. During the off season, comfortable accommodation in self-catering, non-serviced flats and family homes usually afford longer rentals of five to 10 nights.

The key driver behind high rentals in the world’s leading cities is their location within a 50km radius of top schools

London Rentals for one-bedroom flats in the city centre vary from £632 a week to about £285 (just under R5,000) in Wimbledon, outside Central London.

Paris According to the Knight Frank Prime Outer London Index, residential property prices dipped in the third quarter of 2014 — the first fall registered since May 2011.

Paris lodgings close to tourist attractions is a prime commodity during all seasons. A one-night stay in semiluxury accommodation for two, in a romantic city setting, amounts to R10,000. The same budget will cover three to four nights in elegantly

furnished and serviced onebedroom flats just a few blocks away on the Left Bank. Ultra-modern facilities with panoramic views along Rue du Cherche-Midi, priced at about €220 a night, will buy a South African couple the luxury of a three-night stay in Paris.

Zurich

Wimbledon Village has quaint character cottages on the edge of Wimbledon Common and offers easy access to Central London.

Westbourne Grove is a trendy area to visit. It is close to the famous Portobello Road market and boutique shops, cafes and restaurants, and it provides easy access to the West End transport links.

This modern furnished high-rise unit in West India Quay is located close to Canary Wharf, where average weekly rentals stand at about £700, or R12,000, though you can find a flat for as little £425.

Switzerland’s exceptional standards of living and high earnings have resulted in a competitive rental market. Proximity to Zurich’s financial centre and English language schools drives exclusive rental prices in return for convenience and lakeside frontage. Great value just 15 minutes away, close to transport and public amenities for

a family of four, buys furnished accommodation for five nights at Sf165 (about R2,000 a night.) Privately rented rooms with separate entrances in local homes offer affordable seasonal choices in elegant flats. An eight-day rental near the Swiss Alps at R10,000 can be extended for about Sf100 a night in outlying areas such as Baden.

INTERNATIONAL January 23 2015

Los Angeles

Melbourne Melbourne is considered an investment hotspot. Its high living costs and an oversupply of new flats have come about through population growth and the city’s three universities. Median weekly rentals are A$365 (R3,500) in Melbourne, A$270 in Regional Victoria and A$350 in Victoria. Newly built flat measuring 45m2 fetch A$400 a week. Buildings older than 15 years are competitively priced, and R10,000 should cover a two- to three-week stay for two or four people.

For A$490 a week you can rent a serviceable flat in Australia.

Average flat rentals within 16km of Los Angeles are about $2,068 (R24,000) a month. High demand for central locations in Los Angeles is pushing up the cost of housing rentals, according to the University of South Carolina’s

Centre for Real Estate’s 2014 study. Predictions for average price growth of more than 8% of monthly flat rentals in Los Angeles in the next two years are based on the rental growth seen since 2007, which has beaten inflation by more than 2.3%.

South African families will find excellent value in the outlying leafy suburb of Woodland Hills, where daily rentals ranging from $105 to $250 a night afford a four- to seven-day stay for a small family in a comfortable mountainside condominium.

London on R1,000 a week

Fancy living in a period home at one of London’s top addresses? Or how about residing in an old school building? There are affordable ways to exist in London WORDS: LEA JACOBS :: IMAGE: ISTOCK

iving in London is always going to be an expensive exercise, right? Actually no — there are ways to live at the right address in the right part of town for a minimum amount of money. Britain’s property owners have been at loggerheads with squatters for years, and people who own property at some of the best addresses in the world have become victims of Britain’s squatter laws. Anyone who allows a property to stand empty while the home is on the market or while permission is sought for renovations stands a good chance of being targeted, because in the UK it is not a crime to squat in a property, provided the squatters do not break into the home. The costs associated with removing these unwanted guests is high, and property owners often call on the services of “property guardians” to prevent squatters invading their homes. This is good news for those looking for affordable accommodation. There are many companies that specialise in this area of real estate and, according to one agency, tenants could find themselves living in all sorts of accommodation, from a historical mansion

in trendy Chelsea to an old fire station or school. The website of Guardians of London (www. guardiansoflondon.com), an agency that sources property guardians for its clients, notes that rooms inclusive of all utilities are available from £60 (about R1,000) a week and that rooms can be “licensed” for periods of a month to three years. Anyone who wishes to become a property guardian has to undergo an extensive vetting process before being considered. All applicants, including students, have to have some sort of employment. Properties, particularly large commercial buildings, are generally “leased out” to more than one person, and there are strict rules pertaining to the number of visitors allowed. Those living in the property may not throw parties and are subjected to ongoing, rigorous inspections to ensure that the rules are being obeyed. There have also been reports in the British press on the dismal state of some of the properties that property guardians are expected to occupy. However, by the looks of things these stories are few and far between and, given

the number of properties “leased” according to this method, most, it would seem, are more than happy with the living arrangements. The initiative offers seriously affordable accommodation in a city famous for its high property prices and rentals. It may not be suitable for everyone; however, it could be viewed as a temporary solution for those who want to live closer to work but cannot afford to do so.

Anyone who wishes to become a property guardian has to undergo an extensive vetting process before being considered. All applicants, including students, have to have some sort of employment

News (TO BE FILLED IN BY Bday) January 23 2015

Southern Suburbs hit double-digit increases

ith stock shortages still prevalent, prices have risen in Cape Town’s Southern Suburbs, peaking at two or three times their previous rates. This is according to Craig Gilfillan, Rawson Property Group franchisee for Observatory, who also operates in Woodstock and Pinelands. He estimates that on the homes he and his team sold last year, the average

Simply the best

ust Property Group was recently named the number one letting agency in Africa at the Arabia/Africa Property Awards in Dubai. As the highest-scoring regional winner, it was automatically entered into the international awards, where it was placed in the top five within the lettings agency category. “This award, coming on the back of the International Star for Quality in Geneva, cements our position and SA’s role within the international property market,” says Paul Stevens, COO of the Port Elizabeth-based firm. Describing 2014 as “a year of growth”, Stevens said the firm will build on its success by streamlining processes and improving its efficiency in 2015. Just Property Group is looking to expand beyond Africa.

year-on-year value increase was 15% to 20%. “Value increases of the size we have been seeing should, however, not deter those who have the resources to buy here and who are prepared to wait patiently for opportunities,” he says. “As I see it, the bubble will not burst so long as the stock shortages continue — and I can see no single factor which can change that situation.”

Pretoria landmark on the market

“This award, coming on the back of the International Star for Quality in Geneva, cements our position and South Africa’s role within the international property market” Paul Stevens, COO, Just Property Group

well-known residence on Waterkloof Ridge has come onto the market for the first time in its 50-year history. Says Retha Schutte, Pam Golding Properties regional executive for Pretoria and Centurion: “Karl Jooste, one of SA’s most outstanding architects of the 1960s,

designed the home for himself. The house, which was one of his last projects, is an excellent example of modernist architecture and is widely considered to be one of Pretoria’s most groundbreaking designs.” The four-bedroom home, which was designed in 1965 and completed in 1967, could

serve as a house or as a place of business. Situated on 3,679m2 of prime land in one of Pretoria’s most soughtafter suburbs, it is listed for R18m. The property can be subdivided and it retains guesthouse rights. Today it houses the awardwinning five-star Diners Club restaurant Brasserie de Paris.

Situated on 3,679m2 of prime land in one of Pretoria’s most sought-after suburbs, it is listed for R18m

The entrepreneur always searches for change, responds to it, and exploits it as an opportunity Peter Drucker — writer, professor, management consultant and self-described “social ecologist”

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B O U T I Q U E

E S T A T E

The exclusive Uitgezocht Estate development offers vineyard country living at its best, bordering Winelands Estate, which ensures breathtaking views of the Simonsberg, du Toitskloof Mountains and Berg River Valley. • 4 km out of Paarl • Close to schools • Build within 3 years after transfer

• 25 Stands from 701m2 to 1182m2 • Low levies – R900 p/m • Secure living

Hayley vd Merwe 082 926 8587, hayleyvandermerwe@pamgolding.co.za Lana du Toit 083 407 9659, lana.dutoit@pamgolding.co.za www.pamgolding.co.za/uitgezocht

An International Associate of Savills

Cape Winelands to Whale Coast

FRANSCHHOEK

R9.8 million FRANSCHHOEK

Classic sophistication. This beautiful thatch home is located in the secure, vineyard estate of La Ferme Chantelle. Beds: 5 Baths: 5 Garage: 2 Web Access FWI1127343 Doug Gurr 072 610 7208, Office 021 876 2100

BOSCHENMEER

R3.45 million HERMANUS - KWAAIWATER

Perfect lock-up-and-go or for the smaller family. French doors leading to braai patio, direct access to the splash pool. Beds: 3 Baths: 2 Garages: 2 Web Access TK1194750 Igna De Villiers 082 884 8492, Hayley van der Merwe 082 926 8587

R3.8 million FRANSCHHOEK

Laurel Cottage. This well appointed cottage is just minutes from the village centre. Beds: 3 Baths: 2 Parking: 2 Web Access FWI1198710 Shelly Schoeman 083 301 8833, Office 021 876 2100

R14.9 million PEARL VALLEY

Boschendal Wine Estate. Of the few remaining opportunities to own a property on the historical Boschendal Wine Estate. Beds: 4 Baths: 4 Garages: 2 Web Access FWI1147717 Jeanine Allen 082 410 6837, Office 021 876 2100

R5.4 million HERMANUS - FERNKLOOF ESTATE R7.95 million HERMANUS HEIGHTS

Situated on famous Mossel River Drive. Sunny north facing family home with easy open plan living areas. Beds: 4 Baths: 3 Garages: 4 Web Access HF1190102 Rose-Marie Marais 082 877 6160, Office 028 312 1110

Golfing lifestyle. Well designed, modern home in sought after Lakewood Village has beautiful views of the fairways. Beds: 4 Baths: 4 Garages: 2 Web Access HF1200407 Lee Ryall 082 457 4619, 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

R8 million

Spacious home in a prime position. Uninterrupted views of golf course and the majestic Simonsberg Mountains. Beds: 4 Baths: 4 Garages: 3 Web Access TK1114494 Jordan Greenhalgh 083 298 1481, Ronel Pienaar 082 556 2433

R8.9 million

Architectural masterpiece. Terraces overlooking the golf estate and the sea. Enclosed barbecue room. Beds: 5 Baths: 5 Garages: 4 Web Access HF1189889 Santa Bedeker 082 772 7052, Office 028 312 1110

Plattekloof BARONETCY SECURITY ESTATE R17.995 million Ultimate luxury nestled on the slopes of the Tygerberg Hills. This exquisite modern home has elegant features, superb finishes and a welcoming ambience. Additional features include a fully fitted cinema room and bar, heated pool and a green irrigation system. A stylish open-plan kitchen opens onto the dining area with a separate scullery and laundry. The professionally landscaped garden is the ideal platform from which to enjoy the uninterrupted panoramic views of the Table Mountain, Atlantic Seaboard, city skyline and the picturesque Baronetcy Estate dam. This signature home is in a prime position of Baronetcy Estate, offering privacy, views and nature at its very best. Designed by the well-known architect Adrian Weyer, Casa de Vidro, which translates as “House of Glass”, is undoubtedly an apt description for this modern home. Bedrooms: 6 Bathrooms: 6 Garages: 4 Web Access 1PLA1174919 Pierre Nel 076 967 3766 Tonja Ellman 082 978 3576

PLATTEKLOOF R5.495 million A rare find in Plattekloof. Situated in a prime upmarket area against the Tygerberg Nature Reserve overlooking the Cape Peninsula, Table Mountain, Table Bay and Robben Island. A gorgeous English-style colourful garden surrounds this modern, contemporary architect-designed home. Built with unique features ensuring that this is a one-of-a-kind property. It has a stunning gourmet kitchen with hob and double Siemen’s oven, pantry cupboard and breakfast nook. The main ensuite bedroom has lovely views and opens out onto a garden. Upstairs are 3 double en-suite bedrooms, 2 with sliding door onto a patio, with fabulous views over Cape Town. A fitted study and family TV room with sliding doors opens onto a large patio with automated awnings and once again, amazing views over Cape Town. Bedrooms: 4 Bathrooms: 5 Garages: 2 Web Access 1PLA1173289 Penny Petersen 083 261 7339 Riccardo Mascis 073 051 1100

www.pamgolding.co.za/plattekloof

Western Cape

RONDEBOSCH

R7.3 million

Magnificently restored in the beautiful Silwood area. Original features and pressed ceilings, on the doorstep of Bishops. Bedrooms: 4 Bathrooms: 2 Garages: 2 Web Access KW1126143

Pearl Sparks 083 626 0806, Robin Midgley 072 212 5714

MOUILLE POINT

R3.1 million

KENILWORTH UPPER

R6.9 million

CLIFTON

R7.5 million

Elegant Victorian residence. Beautifully maintained. Gracious and loved, this home epitomises the charm of a bygone era. The rooms are spacious with high ceilings and wood strip flooring. The eat-in kitchen, lounge and dining room, flow to the outside entertainment patio and garden. Bedrooms: 5 Bathrooms: 3 Garages: 2 Web Access KW1201774 Sole Agent: Sharon Ellis 082 467 9991

Best value in Clifton. Luxury apartment with large open balcony and spectacular views. Fully-furnished. 24-hour security plus 2 undercover parking bays. Bedrooms: 2 Bathrooms: 2 Parkings: 2 Web Access PR465720

ST JAMES

FISH HOEK

R19.5 million + VAT

Annette Hepburn 082 658 1116

R3.2 million

Perfectly positioned on Mouille Point’s beachfront. Sought-after and very spacious apartment in walking distance to the V&A Waterfront. Views of the mountain, stadium, Metropolitan Golf Course and the Urban Park. Secure parking bay. Bedrooms: 2 Bathrooms: 2 Parking: 1 Web Access AS1194441 Melanie 083 653 9297, Linda 082 556 9990, Jenny 082 808 9495

Where the mountains meet the sea. The St James landmark Spray Cottage has stood watch over False Bay since 1842 and has now been tastefully remodelled. Whilst the exterior retains links with its long history, the interior of this home offers a modern approach to seaside living. Bedrooms: 5 Bathrooms: 5 Parkings: 5 Web Access FH1203286 Sue 083 452 7990, Peter 072 713 4800, Christian 082 377 0022

2 In 1 well-built mountainside property with sea views. 2 Separate units each comprising of lounge, dining area, fitted kitchen, 3 en suite bedrooms. Good finishes throughout – ideal lock-up-and-go. Bedrooms: 6 Bathrooms: 6 Web Access FH1200676

BLOUBERGSTRAND

YZERFONTEIN

R12 million

A rare find. This stylish property with the waves at your doorstep is the epitome of luxury. 7 Year old architecturally-designed family home with internal elevator offers generous accommodation flowing onto sundrenched terraces overlooking the endless views of the Atlantic Ocean. Bedrooms: 4 Bathrooms: 4 Garages: 2 Web Access 1TV1191595 Lizzy Botha 083 300 0093, Emarie Campbell 083 601 0822

R6.9 million

Gracious family home with sea, mountain views and Robben Island. This large open-plan home offers everything that discerning owners would expect from a beach facing home in the Cape. Spectacular sunsets to be enjoyed from the pool patio and terraces. Bedrooms: 4 Bathrooms: 3 Garages: 3 Web Access 1TV1196069 Rosemary Louw 082 743 5915

Sandi Gildenhuys 083 409 3137

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

R8.5 million

Spectacular sea views. Positioned high this timber frame home built by Rustic home’s boasts 3 en suite bedrooms with free-flowing living space comprising of a sun room, kitchen, dining room, TV lounge, formal lounge with pub plus a Balau deck with rim-flow heated pool overlooking Pearl Bay beach. Bedrooms: 3 Bathrooms: 3 Garages: 2 Web Access LA1202785 Sheena Nutter 079 395 0842, Ilona du Toit 082 853 5983

WEB REF: 3234626

EAGLE CANYON • R11 500 000 CONTEMPORARY STYLE HOME Enter this magnificent home into double volume entrance hall and staircase. Gourmet designer kitchen plus scullery and laundry. Beautiful reception areas include a formal lounge, a TV room (separate children’s play room) and a formal dining room. The entertainer’s patio, leads on to the landscaped garden and pool. 4 Spacious bedrooms (all en-suite). A massive office, guest loo, staff quarters, underfloor heating and aircon. 4 Extra large garages, separate storeroom and workshop area. ROZ 083 755 8933 roze@everitt.co.za ZELDA 082 338 6219 zelda.reyneke@everitt.co.za 011 801 2500

WEB REF: 3246478

WEB WEBREF: REF:3140053 3245061

PLETTENBERG BAY • R5 500 000 TURTLE CREEK / GOOSE VALLEY SOLE MANDATE: Plett’s premier golf estate. Beautiful views, excellent build quality, in perfect condition, with 4 bedrooms and expansive entertainment areas. Fully furnished and equipped. Great security and leisure facilities. JOHN FULLER 082 905 1516 • johnf@everitt.co.za 044 533 5250

NORTHCLIFF • R3 850 000 OBVIOUSLY A SUPERIOR DOUBLE STOREY Upstrairs: 4 Bedrooms, 3 bathrooms (2 en-suite). Downstairs: Custom built-bar, private study, guest cloakroom, covered patio and built-in braai. Spacious kitchen and scullery. Triple garage, domestic accommodation and security features. Landscaped garden, and pool. ANDRE 082 377 6439 • andrej@everitt.co.za DEBBIE 072 225 3351• debbie.rosz@everitt.co.za • 011 801 2500

WEB REF: 3140053

WEB WEBREF: REF:3140053 3250958

PLETTENBERG BAY • R8 500 000 TURTLE CREEK / GOOSE VALLEY SOLE MANDATE: This Exceptional lock-up and go lifestyle! One of the very best sea facing homes on this stunning Golf Estate. Overlooking the 5th green, lagoon and sea. Private Pub room, large swimming pool, TV room, fully equipped gymnasium and much more. JOHN FULLER 082 905 1516 • johnf@everitt.co.za 044 533 5250

SEA POINT • R9 950 000 BREATHTAKINGLY BEAUTIFUL PENTHOUSE! This penthouse is a spacious splendor and welcomes you home with open arms. Your own private holiday escape. This 2 bedroom apartment has been designed for the person seeking an easy lifestyle living in one of the most beautiful cities in the world. PETRICK FOURIE • 083 443 1929 • petrick.fourie@everitt.co.za 021 434 8755

WEB WEBREF: REF:3140053 3236057

DOWERGLEN X3 • R2 700 000 IMMACULATE! This highly sought after and secure boomed off suburb of Dowerglen, lies a beautiful and bright home. 3 Bedrooms, 2 bathrooms (MES), open-plan living, 3 reception rooms, study, undercover patio, swimming pool, manicured garden double garage and more! LAWRENCE 083 234 8000 • lawrences@everitt.co.za 011 453 5599

WEB WEBREF: REF:3140053 3244888

GREEN POINT • R6 500 000 CHARACTERFUL AND COZY VICTORIAN HOME North facing, freestanding, 3 bedroom home has a high-ceilinged lounge (with bay-window) and dining room, both still offer original fire places and Oregon pine floors. Bonus: possible 4th bedroom with en-suite downstairs. PETRICK FOURIE • 083 443 1929 • petrick.fourie@everitt.co.za 021 434 8755

WEB REF: 2544345

BRYANSTON • R 6 500 000 LODGE STYLE LIVING IN BRYANSTON This 620m² double storey thatch in central Bryanston has a wonderful ambiance. Open plan reception rooms with fireplaces, 4 bedrooms (2 en-suite), 4 bathrooms, guest cloakroom and up-to-date kitchen with granite tops. Upstairs: entertainment and games area, built-in bar and doors to balconies on both sides. Salt chlorinated pool, koi pond, staff quarters, triple garage and excellent security. Stand size 3880m². Subdivision for 2 stands totaling 1600m² approved. LUCIANA 082 653 9545 lucianas@everitt.co.za DON 082 652 4497 don.struthers@everitt.co.za 011 463 2033.

WEB REF: 3226481

WEB REF: 3250540

DOWERGLEN X3 • R 3 950 000 21ST CENTURY LUXURY! In this highly secure, sought after and boomed off suburb of Dowerglen lies a property with absolutely nothing to do. 4 Bedrooms, 3 bathrooms, guest toilet, pristine kitchen with built-in AEG appliances, home automation system, SQ, double garage and more! LAWRENCE 083 234 8000 • lawrences@everitt.co.za 011 453 5599

BEVERLEY • R 3 595 000 A CLASSIC TUSCAN VILLA Open plan formal lounge, large entertainment patio, manicured garden with auto irrigation system and pool. Dining room, family room and kitchen. Triple garage, staff accommodation. 3 Bedrooms, main bedroom en-suite. Ample visitor parking, alarm system. HELEEN NYSCHENS • 082 337 7755 • thenyschens@everitt.co.za 011 463 2033

3140053 WEB REF: 3247747

WEB REF: 3243025

BISHOPSCOURT • R 5 800 000 BISHOPSCOURT VILLAGE RESIDENCE This property has character and is central and spacious. The 3 reception rooms all open up to the terrace. Modern kitchen with scullery, 4 well sized bedrooms, 2 bathrooms plus guest loo. Views from terrace and pool! Double garage and excellent security. MIRIAM VAN MAASDIJK • 082 827 7727 • miriamvm@everitt.co.za 021 712 7002

NOORDHOEK • R6 900 000 ABUNDANT LIVING Set on 4000m² of spectacular indigenous garden, is this wonderful feel good home. 5 Bedrooms and 4 bathrooms. Kitchen, dining and living areas flow onto a gorgeous verandah and entertaining with legendary sunsets and views. There is also a separate (100m²) flat. GISELLE DONALDSON-CROSS 082 451 0890 LIZ RICHARD 084 900 0338 • 021 784 1630

WEB REF: 3250604

BEVERLEY • R 3 800 000 A HOME YOU WILL BE PROUD TO OWN Open plan formal lounge, study opening out onto the pool area, spacious dining room. Kitchen and separate scullery. 3 Bedrooms and 2 bathrooms. Large main bedroom with built-in cupboards, a spacious full en-suite modern bathroom leading out onto a balcony with a view. HELEEN NYSCHENS • 082 337 7755 • thenyschens@everitt.co.za 011 463 2033

WEB REF: 3162078

TOKAI STONEHURST ESTATE • R8 950 000 IN A CLASS OF IT’S OWN 5 Spacious bedrooms, 5 bathrooms, theatre room, built-in bar area and magnificent outdoor covered patio with huge fireplace. Indigenous garden, with pool. 24-hr security, Lifestyle Centre with lounge and gym, beautiful walks around this natural Mountain Estate. SALLY GRACIE 083 459 9523 • sally@everitt.co.za 021 712 5029

Upper Constantia – R29 million

French Provencal Masterpiece. Glorious, light reception areas feature, tall French doors and white washed wooden screed floors. Nicklewood gourmet kitchen features large middle island leading onto reception areas onto a generously proportioned wrap around entertainers patio. 7 bedrooms showcasing views plus media room and 2 studies. 4 garages and excellent security. Gregory Kruyer 071 477 0434 | Charne Shipper 083 274 6336 | Web Ref: 85005

Clifton – R12.5 million

Sophistication on the rocks! Exquisite, fully furnished, designer pad for the discerning buyer wanting tranquillity and perfection. Set on the rocks overlooking Moses Beach, this apartment was equipped by master craftsmen. Open plan lounge, dining room and study with spectacular views. Convenience of same level secure parking, communal pool and direct beach access. Glenn 083 658 3427 | Stacey 076 337 4888 | Sandra 083 456 2737 | Web Ref: 83577

Sandown – R6.8 million

Cluster. An opportunity to own a rare work of Art. This exclusive cluster is pristine and offers a spectacular canvas awaiting the discerning owner. Situated in the most remarkable position it offers 8 gorgeous rooms with features beyond imagining. Norma Robinson 082 554 7260 | 011 656 0888 | Web Ref: 85998

Contact: Liana Joubert: 083 411 4537 / 011 880 3550.

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