Business Day Home Front 25 September 2015

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FRIDAY, SEPTEMBER 25 2015

HOMEFRONT PAGE 2

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WORKPLACE WELLNESS

BY DESIGN

A LOOK AT PET-FRIENDLY POLICIES

PAGE 16

PAGE 12

ANALJIT SINGH ON HIS LEEU COLLECTION

THE MODERN FACE OF MEXICO CITY

Chasing China

CONTINUED ON PAGE 6

Construction is well underway on Zendai’s R84bn city in Modderfontein, eastern Johannesburg. Is this just the start of substantial Chinese ventures into the SA property market and business?

WORDS: ANDRÉ FIORE :: PHOTOS: SUPPLIED

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LIFESTYLE

LIFESTYLE

Friday September 25 2015

WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED

Why an office redesign is worth the investment More than just a space to impress clients, the modern office reflects a company’s ethos and is an opportunity to engage with more contented and productive employees

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“The modern workspace is about finding solutions to the paradoxes of the open-plan office. We all want staff collaboration, but the openplan layout can also inhibit personal bonding for fear of being overheard” Osorio Ramos, MD, Giant Leap

ore local companies are noticing that an improved workplace positively affects productivity, and therefore the bottom line.

According to Giant Leap, SA’s largest workspace specialist, the average South African employee spends more than 2,000 hours in an office a year.

So when organisations create more engaging places to work, it generally results in greater staff retention and more productive, satisfied employees.

Giant Leap is an interior architecture-workplace specialist practice that uses project managers, space planners, architects and research teams to implement workspace briefs on commercial projects.

“The most obvious differentiator of a workplace designed for wellbeing is that it provides different spaces to support the different kinds of work performed during the course of the day,” says Linda Trim, sales and marketing director at Giant Leap.

Companies aren’t sufficiently “wellbeing compliant”, according to Giant Leap’s workspace intelligence arm, Know More SA. “Our research showed that 41% of South African employees feel their buildings support workplace wellbeing, yet so few of these buildings actually do,” says Peter Townshend, MD, Know More SA. Travis Imbrailo, Giant Leap’s operations director

says, “Unlike other resources, such as buildings, technology and investments, people have a choice about who they work for, how much they give to their job and how they influence the staff and employees around them.

Wellbeing is fast gaining attention, for good reason.”

Giant Leap has implemented six workspace principles in various local offices.

TEAR DOWN WALLS Collaboration encourages more minds to think about a problem and can be a fun, social experience. Cement manufacturer PPC briefed Giant Leap to provide a “transparent environment that allows people to work how and where they want to”. Cement was used to construct a 6,000m² four-star green-rated office building in Johanneburg with no internal doors, allowing for transparency between management and the various departments.

For investment management firm Convergence Partners in Rosebank, stackable doors created flexible spaces so that internal meeting areas can be used as workstations, the coffee station becomes a canteen and bar, and the boardroom converts into a formal dining area.

GO GREEN Few people want to spend their time inside artificial building environments. Volkswagen SA’s Sandton offices integrate eco-friendly features into the building design, including recyclable materials, motionsensor lighting, energyefficient air conditioning and thick, tinted glass for maximising natural light and insulation. Giant Leap also created an indoor hydroponic garden for staff and visitors to enjoy.

LIVE THE BRAND BUT HAVE FUN Designed around its people and the brand, Red Bull’s Cape Town office gives its employees wings by providing a 1,600m² space at the V&A Waterfront’s harbour edge. Good views aside, the interior is decorated with surfboards and adventure sports memorabilia. There is also a games room for staff and “war rooms” for strategising.

The modern, high-energy design represents Red Bull’s standing as a global brand while creating a fun space for employees to perform at their best. It also encourages staff to

CHECKLIST FOR OFFICE WELLBEING: A great workspace should stimulate mind and body.

“Wellbeing” means different things to different people in different situations. What suits one office isn’t necessarily right for another working group.

Clever design allows employees to take control of their sensory stimulation rather than being victims of sensory overload through privacy invasion, noise or disruption.

Flexible, adjustable furniture is a trend in SA — heightadjustable desks are one example.

Most millennials employees want a work experience, not a strict, task-oriented workplace.

move between floors without any hierarchical structures.

PROVIDE NATURAL LIGHT AND OUTDOOR VIEWS It sounds obvious yet is easily overlooked. Alleviate eyestrain and increase employee comfort by incorporating nature and natural light. Grant Thornton SA’s 10,800m² three-storey building at Wanderers Office Park houses more than 470 employees in an open-plan space filled with natural sunlight. A building with natural light improves employee wellbeing and attentiveness, and reduces absenteeism.

CREATE BREAKAWAY AREAS However small the workspace, make sure staff have somewhere to go for a break.

Osorio Ramos, MD at Giant Leap, says a new type of open-plan workspace creates a “middle ground where both introverts and extroverts can work and play”. Grant Thornton’s offices include open-plan areas, private breakaway zones, quiet rooms and “phone booths”.

Says Ramos: “The modern workspace is about finding solutions to the paradoxes of the open-plan office. We all want staff collaboration, but the open-plan layout can also inhibit personal bonding for fear of being overheard.”

USE COLOUR Giant Leap created “colourproductive showroom offices” for Dulux that use spaces to educate employees while creating an environment that enhances productivity. Guided by colour trend forecasts, the interior is used to illustrate the brand’s product range. Key furniture is updated with the season’s colours. Boardrooms display product colours while educating staff about the brand offering. In shared spaces, colours are strategically used to promote interaction or relaxation.

LIFESTYLE Friday September 25 2015

DESIGN

Making it mine As technology catches up with customers’ desires to be individual through customised details, more brands will allow consumers to make their mark on their homeware WORDS: CHRIS REID :: PHOTOS: AMOQ AND TOG

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ass personalisation has been a growing trend for many years. As consumers become more aware of their options and more specific in their tastes, they are no longer content with buying the same five items that are available to everyone else.

There is a desire for objects and pieces that speak to the owner’s individuality, but at the same time people are less and less likely to make things themselves. Despite a resurgence in heritage crafts such as crochet, sewing and even taxidermy, few people are able or willing to make their own furniture.

In a recent Bain & Company survey, respondents stated

that they were willing to pay 20% more for products that were customised to meet their tastes. And as online retail becomes more and more popular, the trend towards such customisation is growing. International furniture brand TOG, for example, was launched with exactly this in mind. It creates “naked” products and then allows buyers to customise them online or select a

professional customiser to do it on their behalf.

In SA, Amoq Furniture is on a similar track with its open-top table legs. This set of legs strapped on with belts allows consumers to take any flat table-like surface and turn it into a bespoke table. Why just keep up with the Joneses when it is as easy, and infinitely more interesting, to set yourself apart from them?

There is a desire for objects and pieces that speak to the owner’s individuality, but at the same time people are less and less likely to make things themselves

Leafy Linden is Joburg’s underrated food destination

FOOD

Fancy a coffee meeting or a quick stop for quality cheeses, meats and pastries? Linden has this and more WORDS: CATHERINE BLACK :: PHOTOS: SUPPLIED

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WHERE TO SHOP: Cheese Gourmet 011 888 5384 The Argentinean 011 888 9759 Rembrandt’s Butchery 011 888 4663 The Whippet Coffee 011 782 7310 thewhippetcoffee.com

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: Catherine Davis Creative Director: Mark Peddle

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lthough it is still quietly understated when compared with its trendier Parkhurst and Greenside neighbours, Linden is starting to make its mark on the Joburg foodie scene. Besides its cafes and restaurants, there is a slew of quality bakeries and ingredient shops that attract loyal customers from all over the city. Here is a pick of the best: FOR CHEESE: CHEESE GOURMET From rare Cheddars to creamy Bries, Cheese Gourmet showcases hundreds of locally sourced cheeses from top cheese farms around SA, along with locally made preserves, olives, rusks and cured meats. Part of this speciality cheese shop is a cafe — a great spot for a casual breakfast meeting or for

BusinessDay PUBLICATION

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

sampling a platter of cheese and cured meats for lunch.

FOR PASTRIES: THE ARGENTINEAN Home to arguably the “best croissant in Africa”, this unassuming bakery and cafe also bakes a huge variety of sweet and savoury pastries and cakes. Take your pick from Danishes, croissants, chocolate tarts and cookies, as well as breads (including gluten-free versions) and, of course, filled pastry empanadas. As the cherry on top, the bakery also supplies made-to-order birthday and wedding cakes.

FOR MEAT: REMBRANDT’S BUTCHERY Best known for their spit-braai home catering, this muchloved family butchery can cook an entire spit at your house

for up to 200 people. If you want to buy meat, you will be treated to a unique shopping experience including rugby on the TV screens and lively banter with the owners. You will also find the best grades of meat around, including boerewors, sosaties, spare ribs and sought-after biltong.

FOR COFFEE: THE WHIPPET A popular coffee destination, Whippets has developed its own blend of creamy Costa Rican and rich chocolatey Malawian beans. Sit down and enjoy a “whippeccino” or buy beans to take home.

This fully licensed, café-style restaurant is popular for quick meetings, breakfast and lunch. Whippets celebrates its suburb by sourcing ingredients from local neighbourhood suppliers wherever possible.

ADVERTISING SALES Michèle Jones Susan Erwee Ian Pepler Bradley Sparks

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

bradley.sparks@ thecreativegroup.info

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

CHASING CHINA Friday 25 September 2015

Chasing China WORDS: ANDRÉ FIORE :: PHOTOS: SUPPLIED

“The Chinese market, with their huge appetite for international real estate, has a Chineselanguage website that advertises only international property. Called Juwai, it offers international real estate listings relevant to Chinese buyers and assists them in the purchase process” Simon Bray, CEO, Private Property

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otwithstanding fluctuations in the yuan, there have been whisperings, fuelled by recent Chinese investment, of substantial ventures into the South African property market.

SA’s most significant Chinese investment is probably Hong Kong-listed Shanghai Zendai’s planned R84bn Modderfontein mixed-city development.

The Financial Mail recently reported that China’s slowdown would not affect Modderfontein’s construction rollout.

Alongside Chinese purchases of wine and lifestyle farms in the Cape in recent years, these projects represent a shift from traditional Chinese involvement in the mining and manufacturing industries. Is it a precursor of things to come and is SA soon to see massive Chinese investment?

We are two-thirds of the way through the Year of China 2015 in SA and hot on the heels of 2014’s Year of South Africa in China. So with Mandarin scheduled for the local curriculum at select schools from 2016, it would be logical to answer a resounding yes.

But it is not all that simple.

Although China is SA’s largest trading partner, the country is fifth in terms of foreign direct investment (FDI) into SA, according to the 2014 Stander Tradeportal, and seventh in terms of FDI into the continent in Ernst & Young’s Africa attractiveness survey 2015. This is despite showing a 166.7% increase in FDI projects from 2013 to 2014. Nearly a third of these projects were in the technology, media and telecommunications sector.

Real estate, hospitality and construction ranked fourth.

BARRIERS TO INVESTMENT “The real capital generation in our lifetime is coming out of China,” says Martyn Davies of Frontier Advisory. “The

Chinese are the single largest purchasers of private property in the US and are now the highest-spending tourists globally. Close to 120-million Chinese are travelling abroad this year. Yet Chinese tourism to SA is down 32% in 2015 and ludicrous visa regulations are keeping them away. It would be fantastic to see high-net-worth Chinese buying property here. Cape Town could even become the next Vancouver in terms of attracting Chinese capital and spend. SA desperately needs foreign investment, yet we have so much legislation preventing it. Add to this our crime issues, and the government not doing much to encourage private capital into SA.” Jessica Han, who heads up Ocean Echo Properties, has lived and invested in SA for 24 years. “There are many good reasons to stay, but the government laws for immigration, visas and work permits are destructive. I want to grow my business, but I can’t find enough staff members who speak Mandarin,” she says.

Putting her money where her mouth is, Han owns South African Chinese news website www.sa2cn.com, plans to open a Chinese private school in Johannesburg, and is currently investing in her R500m, 8.3ha Xavier Junction/Ormonde Mall redevelopment.

RESIDENTIAL INVESTMENT ACTIVITY The Western Cape residential market reports more activity.

Says Surina du Toit of PGP Paarl, Wellington and Franschhoek: “We have constant interest in wine estates and lifestyle farms from Chinese buyers.”

Pierre Nel of PGP Plattekloof is also seeing movement. “We have noted quite a few Chinese developers moving into the residential development and

Friday September 25 2015

rental investment markets.

Some of my Chinese clients are developing estates in the Parklands area. I have others who are constantly looking for investment opportunities in this sector. Some Chinese clients don’t live in SA, but invest through their local companies. They are prepared to spend up to R600m if they find a good opportunity.”

Ian Slot of Seeff Atlantic Seaboard/City Bowl agrees: “Across the Cape metro, some R165m in real estate has been sold to Chinese buyers over the past three years. The bulk have been below the R10m price band. They range from apartments in the Cape Town CBD and in seaside areas such as Mouille Point, to villas in Camps Bay and Fresnaye, along with homes in areas such as Newlands.”

In KZN, things are not dissimilar. “We have seen an increase in Chinese buyers in Durban North, an area popular with Chinese residents. We are seeing more Chinese clients buying homes and offices here, as well as an increase in Chinese products,” says Michelle Veneruso of Soukop Property Group, Durban North.

Private Property’s Simon Bray sees the Chinese property market as one to be addressed. “The Chinese market, with its appetite for international real estate, has a Chinese-language website that

advertises only international property. Called Juwai, it offers international real estate listings and assists buyers in the purchase process. Private Property loves this approach to property marketing and will be looking into the option of adding SA real estate to the Juwai platform.”

Currently in China the construction sector is facing problems — a housing bubble in big cities and excess capacity,” he says. “In future, I think more Chinese companies in construction will enter the African continent, partly because of this and

BIGGER THINGS TO COME Is the increase in smaller investments a forerunner of bigger things? Reading between the lines of a comment from Dr Yejoo Kim of the Centre for Chinese Studies, Stellenbosch, it might well be. “The service sector in SA (especially telecom) has attracted Chinese investment.

“It would be fantastic to see high-net-worth Chinese buying property here.

Cape Town could even become the next Vancouver in terms of attracting Chinese capital and spend” Martyn Davies, Frontier Advisory

A one-bed loft apartment in The Glen, Camps Bay, recently sold to a Chinese buyer for the full asking price of R3.85m

because of the Chinese government’s drive to help developing countries through infrastructure development projects such as ‘three networks’ — the high-speed rail network, highway network and regional aviation network initiatives.”

“Some Chinese clients don’t live in SA but invest through their local companies. They are prepared to spend up to R600m if they find a good opportunity” Pierre Nel, PGP Plattekloof

FOCUS ON THE CENTENARY September 25 2015

GET IN TOUCH

For more information, call 061 408 3298, email info@thecentenary.joburg, or visit thecentenary.joburg.

The Centenary – 10 out of 10 living

Zendai’s The Centenary lends itself to the exclusive life of attainable opulence in every possible way

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endai’s The Centenary in Modderfontein is exemplary in the manner in which it lets design shape comfort and redefine modern luxury living. The Centenary is your chance to take residence in one of the country’s most historic places, surrounded by iconic landmarks and heritage buildings that take you back to an era when life was all about living.

Inspired and built to desired high standards, no detail has been overlooked in ensuring that this luxury residence is one that speaks volumes on quality.

Contemporary design combined with classic finishes and modern fittings creates a living environment that offers the perfect balance of space and privacy.

Featuring modern architecture inspired by the very nature it is nestled in, the one-, two- and three-bedroom apartments overlook Flamingo Dam, which plays host to an extraordinary variety of birdlife. Prices range from R1.15m for a one-bedroom apartment to R2.2m for a two-bedroom unit and R2.8m for a threebedroom unit.

Going home to the tranquil environs that lie just beyond your doorstep is a breakaway that doesn’t take time off.

Complete with wildlife, walking and bicycling trails, fishing dams, lush flora as well as Val Bonne Country Estate, the life you deserve awaits you in your very own backyard.

The Centenary intelligently mixes the metro’s natural setting with privacy and luxury to recalibrate our expectations of homes. The layout of each residential unit is family oriented and lays the greatest emphasis on usability and functionality. The sweeping swathes of open spaces inside the home welcomes natural light in abundance, which adds to the enhanced sense of spaciousness.

The main living area is deliberately open-plan to allow families the flexible use of space, while the en-suite bedrooms are aesthetically designed and well appointed.

The kitchen, usually the dealmaker, is furnished with top-of-the-line and tasteful Miele appliances.

The apartments feature large windows that sport acoustic glass to keep out the unwanted noises to ensure distraction-free conversations

with loved ones and peaceful nights.

Well positioned with a north-facing aspect, some of the other features that every apartment will boast include designer kitchens and sanitaryware, high-speed fibre internet connectivity and energy-efficient heat pump geysers.

The Centenary’s state-ofthe-art security is six-layered and complemented by 24/7 biometric and CCTV access control as well as basement parking with elevator access to each apartment floor, offering complete peace of mind.

These features alone enhance the sense of ownership. On site you’ll also find a clubhouse, pool, kids’ play parks and an outdoor gym.

A marriage of serenity and modernity, The Centenary features openspace courtyards between apartment blocks lined with trees and seating to encourage residents to interact with neighbours. A new benchmark for “staying arrived”, it creates an environment where people can go back to social life rather than social media.

Life in Modderfontein comes with unprecedented

benefits and easy access to Sandton and the OR Tambo International Airport. The Centenary is strategically located away from the metro’s hustle and bustle and has congestion-free connectivity afforded by the recent expansion of Centenary Road.

Only a short distance away, an abundance of fine-dining restaurants and outdoor activities are easily accessible, as is a lush golf course and sports complex with facilities for football, tennis, squash and bowls.

The Centenary’s location will appeal to families looking for cosmopolitan living that is close to a range of schools.

Other development in the area includes the expansion of existing schools, a private hospital, additional access roads and infrastructure.

Future development plans incorporate an educational precinct that will accommodate all levels of schooling, from preprimary to tertiary, a financial and commercial district, a leisure district, residential and retirement communities and light industrial and logistic parks among others.

The picture-postcard life of The Centenary awaits.

FOCUS ON THE CENTENARY

September 25 2015

“The Centenary is strategically located away from the metro’s hustle and bustle and has congestion-free connectivity afforded by the recent expansion of Centenary Road”

INVESTIGATION Friday September 25 2015

Must love dogs If demand for pet-friendly accommodation is increasing, will a no-pet policy hurt landlords across all property markets?

WORDS: DAVID A STEYNBERG :: PHOTOS: ISTOCK

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ecent reports indicate that tenants are willing to pay up to 10% more for pet-friendly accommodation in cities and towns, suggesting that landlords and body corporates not offering this option to prospective tenants may soon be forced to reconsider. But does this affect all property classes equally, and to what extent? Most in the industry agree that the perceived need for pet-friendly accommodation is real, and the increased demand is most noticeable in the sectional title market.

According to Sherry Moldenhauer, rental manager for Sotheby’s International Realty Joburg North, landlords are primarily driven by the need to secure a long-term, reliable tenant, and they cannot be too concerned about refusing to let to pet owners. Garden units are most in demand.

“Some townhouses have good sized gardens, however, the trustees are the ones who decide on the pet policy,” says Moldenhauer.

Carl Smit, MD of SandakLewin Property Trust, says pet owners are generally responsible tenants who understand that pet ownership in sectional title schemes typically comes with rules. They also accept that it is their responsibility to manage the behaviour of their pets.

NO PETS PLEASE A no-pet policy has always been a significant dealbreaker for some tenants, according to Harry Meyburgh, director at Etchells & Young property brokers. Meyburgh says townhouses and clusters are expected to be petfriendly, with sectional titles increasingly adjusting their previously stringent no-pet rules. “More sectional title units are allowing small dogs in the garden units and cats in the upper levels.”

PG van der Linde, rental manager for Seeff Pretoria East, says that if the body corporate rules allow, most landlords are happy to let to pet owners, provided that the

GET IN TOUCH Sales information: Norman Mohr 082 903 7502 norman@century.co.za Jessica van der Walt 082 937 4760 jessica@century.co.za

property is left in the same condition once the contract ends. This usually entails having the carpets cleaned and even fumigation of the property to get rid of pet pests such as fleas.

There are landlords who will not allow pets in their units, even if body corporate rules allow it. This is usually because the landlord does not want to risk having carpets or gardens ruined, or neighbours disturbed, according to Meyburgh.

Moldenhauer says that “even when the landlord allows pets initially, the estate or complex could request that a pet be removed, leaving the tenant, potentially a family with children, in a difficult position.” She says in most cases though, the increased demand for petfriendly accommodation is not altering the rules of body corporates. “The market in Joburg is saturated with complexes. Some older complexes do permit a small dog or a cat, but the tenant would need to obtain permission from the landlord to keep a pet in the unit.”

NARROWING THE MARKET Carol Reynolds, area principal for Pam Golding Properties in the Durban coastal area, warns that a no-pet policy could potentially decrease the tenant pool significantly.

“Complexes that don’t allow pets miss out on a large chunk of the market — approximately 40% of our tenants require pet-friendly accommodation,” she says.

“If a tenant finds the perfect home that meets his needs, he may be willing to pay rental above marketrelated prices,” says Van der Linde. But the fact that some tenants may be desperate for suitable, pet-friendly accommodation does not give landlords free rein with rental prices, as this should always be demand driven.

Van der Linde cautions that concerned owners may choose to increase the required damage deposit if it is believed that pets could potentially damage the property.

“Complexes that don’t allow pets miss out on a large chunk of the market — approximately 40% of our tenants require pet-friendly accommodation” Carol Reynolds, area principal, Pam Golding Properties, Durban coastal area

INVESTIGATION Friday September 25 2015

Analyse it WORDS: PATRICK CAIRNS

Income is not wealth

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Pet-friendly places AREA

Top 10 pet-friendly sales listings areas as percentage of total listings per area

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Top 10 pet-friendly rental listings areas as percentage of total listings per area

PET FRIENDLY LISTINGS (%)

EDENVALE

53%

MIDDELBURG

40%

TONGAAT

40%

SOSHANGUVE

39%

PRETORIA EAST (SOUTH)

38%

WESTVILLE

38%

MOOT

37%

PRETORIA WEST

37%

BLYTHEDALE TO ZINKWAZI

37%

ROODEPOORT

36%

AREA NORTHERN PRETORIA (FAR NORTH)

PET FRIENDLY LISTINGS (%) 54%

HILLCREST

41%

KLOOF AND GILLITTS

40%

BRONKHORSTSPRUIT

39%

RUSTENBURG

35%

KUILSRIVER

33%

VEREENIGING

32%

SILVERLAKES SURROUNDINGS

32%

VANDERBIJLPARK

29%

CENTURION WEST

29%

Prices affecting pet-friendly policies PRICE INTERVAL

Percentage of pet-friendly sales listings per price interval

R999,999 AND LESS

13%

R1M TO R1,999,999

26%

R2M TO R2,999,999

29%

R3M TO R3,999,999

29%

R4M TO R4,999,999

28%

R5M AND MORE

21%

PRICE INTERVAL

Percentage of pet-friendly rental listings per price interval

PET-FRIENDLY LISTINGS PER PRICE INTERVAL (%)

PET-FRIENDLY LISTINGS PER PRICE INTERVAL (%)

R4,999 AND LESS

3%

R5,000 TO R9,999

12%

R10,000 TO R14,999

17%

R15,000 TO R19,999

18%

R20,000 TO R24,999

21%

R25,000 AND MORE

22%

Most in the industry agree that the perceived need for pet-friendly accommodation is real, and the increased demand is most noticeable in the sectional title market

t is difficult not to feel fortunate that we live in a modern world where healthcare is sophisticated, travel is easy and technology simplifies so much. We are a long way from just 150 years ago when penicillin did not exist, overseas travel meant spending months on a ship, and Thomas Edison had not yet invented the electric light bulb.

This is a world in which having even a little bit of money gives us access to a lot more than anybody could have dreamed of before the turn of the last century. That is a great blessing, but it also brings with it a very large challenge.

Having access to so much means that there is no end to the things on which we can spend our money. We are a world of consumers and we are encouraged to consume more at almost every turn.

The result is that we believe that the more we are able to buy, the richer we are.

And so we equate income with wealth. But the truth is that being wealthy is not about how much you spend.

It is rather about how much you are able to save.

South Africans are not good at saving. Our savings rate at 15,4% of GDP is among the worst in the world.

This is not because we don’t earn enough or our cost of living is too high. In China, earnings are lower, but the savings rate is 50% of GDP. In Australia, where the cost of living is much higher, the savings rate is 22,5% of GDP. A big part of the South African problem is that we are too easily seduced into debt. Household debt as a percentage of household income in SA is now at 80%.

We are borrowing more than we are saving. That may mean we have money to spend in the short term, but in the long term, we will be far poorer for it. Generally speaking, we are making the wrong choices with our money.

In the book The Millionaire Next Door, by Thomas J Stanley and William D Danko, the point is made that wealthy people are not the ones who make fancy lifestyle choices and spend on assets that don’t appreciate.

They are people who spend less than they earn and get more pleasure from owning assets that grow in value such as stocks, property and private businesses, than from displaying a highconsumption lifestyle.

That does not mean that life should not be enjoyed, but that you should spend only what you can afford, and save for yourself first. Anything else is really just stealing from the future you to pay for your current pleasure.

But the truth is that being wealthy is not about how much you spend. It is rather about how much you are able to save

PERSONALITY PROFILE Friday 25 September 2015

The lion’s share WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED

One of India’s most successful entrepreneurial businessmen, Analjit Singh, is betting on Franschhoek providing ‘pleasure returns’ through a considerable investment in property there

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naljit Singh, 61, describes himself as “a self-made entrepreneur and industrialist”. The founding chairman of Max India, Singh has significant financial interests in life and health insurance, healthcare and senior living in various countries, including SA. He is also the nonexecutive chairman of Vodafone India and the recipient of international awards for business and entrepreneurship. The Indian billionaire was ranked 87th in Forbes magazine’s 2014 India’s Richest list and owns homes in Delhi, London and Koh Samui, Thailand.

In 2012 Singh made his maiden investment in South African property. Says Singh: “My first trip to Cape Town was a day after the Fifa World Cup final in Johannesburg in 2010. The World Cup is what brought us here. My eldest daughter, Piya, is a sports fiend.

“I’d never been to this continent and, I must confess my ignorance, my first impressions of Johannesburg were, well, pretty shabby. The next morning we arrived in Cape Town and I wondered whether I was in Europe. Our hotel driver collected us in a Bentley and I thought: ‘This is Africa?’”

During an excursion, the driver made a brunch stop at Grande Provence Heritage Wine Estate outside Franschhoek. Says Singh: “I felt so attracted to this place that I told my wife I had to come back here.” He later returned to the town three

times,to scout around for a private retreat.

FRANSCHHOEK FARMING In August 2012 Singh found his retreat at Klein Dassenberg farm, which abuts the back of Grande Provence. “My son was with me,” he says. “We had just landed from Dubai. We went to see Klein Dassenberg and I told my son, in Hindi, this was the place.

“My changes to Klein Dassenberg were six to eight months from completion.

I was done,” says Singh.

But then the neighbouring Von Ortloff farm went on the market, and at a good price. Singh couldn’t resist.

“So now the game started to change. We had the winery and enough hectares to justify doing our own farming instead of having the grapes managed for us.” The purchase of Dieu Donné soon followed.

The three adjoining farms now form Leeu Estates, SA’s first wine tourism initiative by an Indian investor. When it opens in mid-2016, the 22-suite hotel will include a world-class gym and spa designed by Spanish architects, luxury cottages and a restored Cape Dutch manor house. Garden designer Franchesca Watson is landscaping the gardens

and designing a dedicated indigenous garden. The on-site winery will produce a premium range of Leeu wines. In an August 2015 article, Forbes Asia estimated the total investment in Leeu Estates at $35m (about R483m).

WINEMAKING VENTURE Other property purchases followed. In October 2013, a joint venture was signed with winemaking couple Chris and Andrea Mullineux for 50:50 ownership of their Platterawarded Riebeek-Kasteel winery. “The winery was rechristened Mullineux-Leeu Family Wines out of respect for what they had achieved.

It was the first time I had ever agreed to put another name before ‘Leeu’ on one of my companies,” says Singh.

Leeu is also an Afrikaans reference, “lion”, as is “singh” in Sanskrit.

Leeu House opens in December 2015 as a 12-room boutique hotel. Adjoining properties on either side were purchased to provide “elbow room” to expand the hotel’s garden, pool and parking. The Heritage Square property opposite was also purchased and an Indian restaurant, bar and microbrewery will be operational there in 2016.

In September 2015, Singh’s company took full ownership

“In terms of investor stability, there’s no perfect place. There is complexity everywhere. But a lot of this level of comfort is a mind-set. What is an Indian doing investing in SA? There is a market here, there are people here, there is nature here” Analjit Singh, owner, Leeu Collection

PERSONALITY PROFILE Friday 25 September 2015

ADVERTORIAL

The Wealth Movement Conference Explore why it is important to create and preserve wealth at this conference, being held on 8 and 9 October in Johannesburg “What started off as a retreat has now become a proper business. I believe it’s the biggest investment in the Western Cape. But I’ve been advised not to talk numbers” Analjit Singh, owner, Leeu Collection

of Franschhoek boutique hotel Le Quartier Français, including chef Margot Janse’s leading South African restaurant, The Tasting Room. “And now we are complete,” says Singh. “That’s the Leeu Collection today.”

INVESTMENT RETURNS Why would an international businessman invest so heavily in South African property?

Says Singh: “What started off as a retreat has become a proper business. I believe it’s the biggest investment in the Western Cape. But I’ve been advised not to talk numbers.

“I’ve stepped outside a busy international business life to

1

Analjit Singh’s Leeu Collection in numbers 2012

2

— first Franschhoek property investment

68 — Leeu Estates

property in hectares

3

4,600m2

— Leeu House and adjoining erven

300

— people working on the Leeu Collection Franschhoek project

4

WHO’S WHO AT THE WEALTH MOVEMENT 2015 CONFERENCE

60 — Leeu Collection

keys: 26 for Le Quartier Français, 12 for Leeu House and 22 for Leeu Estate’s luxury suites/cottages

find succour in this part of the world, to renew myself in this time of my life,” says Singh. “I have succeeded in a succession plan to fire myself from my own company as CEO, to make time for what I’m doing here.”

Singh is gradually involving his children in the business.

“I’m hot on impermanence and therefore succession, so I always have a succession plan in management. This is a family business so if I’m ever on the wrong bus it will be business as usual. My point is that it started out more as a hobby, but with this level of investment, I have not left it to chance.”

But is this investor’s confidence in SA warranted?

“In terms of investor stability, there’s no perfect place,” says Singh. “There is complexity everywhere. But a lot of this level of comfort is a mindset. What is an Indian doing investing in SA? There is a market here, there are people here, there is nature here.

“For me, property has always been a good investment, anywhere in the world. At different stages of your life your return criteria change: financial returns, security returns and pleasure returns. I feel my soul is happy here. After that, I’ll take my chances.”

Book now for the two-day Wealth Movement 2015 Conference at The Forum in Bryanston.

The event kicks off with a VIP breakfast from 7.30am to 10am, with a short keynote address and panel discussion on strategies for investing overseas. An inspirational lineup of speakers follows, including Roger Hamilton, Billy Selekane, Hilda Lunderstedt, Dolf de Roos, Scott Picken, Hennie Bezuidenhout, Kura Chihota and Joy Schoffler.

Panel topics include debates on crowdfunding versus syndication versus listed sector (Reits and funds): returns, safety and the pros and cons; the best places to invest and the best structures; how to get a first world passport; pros and cons of local versus offshore investment; and how technology is disrupting real estate. On the second day delegates can choose from at least 40 relevant discussion topics, as well as a Women’s Forum from 12.30pm to 3.15pm, facilitated by Hilda Lunderstedt on the topic Success, Life and Money.

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1 Roger Hamilton is a worldrenowned futurist and social entrepreneur. He is the founder of Entrepreneurs Institute and the creator of the Wealth Dynamics and Talent Dynamics profiling systems.

Scott Picken is the author of Property Going Global and the co-founder and CEO of Wealth Migrate, an online global real estate investment marketplace.

2

6

Hilda Lunderstedt is one of few South African female entrepreneurs who managed to grow a self-starter business to a nine-figure turnover in less than 10 years, before stepping into the international business arena as an entrepreneur.

3

7

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4 Billy Selekane is a best-selling author and an internationally acclaimed keynote and inspirational speaker. The executive chairman

of Billy Selekane International, he is also a personal, team and organisational effectiveness specialist.

5 Hennie Bezuidenhoudt is the co-founder and chairman of Wealth Migrate, an online global real estate investment marketplace. He has more than 35 years of experience in the healthcare and real estate industries.

6 Dolf de Roos is the president of Wealth Migrate.

The international best-selling author has 15 titles to his name and more than 2-million books in print. He is a sought-after speaker on how crowdfunding is revolutionising real estate and adding value for investors and developers.

7 Kura Chihota is the host of SA’s premier property talk show Ask The Property Experts on BusinessDay TV. He is a director of property companies Fortress Income Fund and Putprop Limited, and chairman of the investment committee for the Johannesburg Housing Company.

8 Joy Schoffler is a Texasbased author and speaker in the field of innovative financial services marketing and communications. Schoffler sits on the board of the Crowdfund Intermediary Regulatory Advocates.

Visit the website for more information and to book: wealthmovement.com

Panel topics include debates on the best places to invest; the pros and cons of local versus offshore investment; and how technology is disrupting real estate

FOCUS ON WATERFALL ESTATE Friday September 25, 2015

Build your dream home in Waterfall Estate

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

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

J

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

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

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

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

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

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

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

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

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

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

FOCUS ON WATERFALL ESTATE Friday September 25, 2015

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

INTERNATIONAL Friday September 25 2015

Youthful demand for old Mexico City

O

ne of the biggest cities in the world, Mexico City, is undergoing rapid and exciting commercial and residential development.

In the first half of this decade, a number of the city’s older character homes have been repurposed into corporate headquarters for companies such as Heineken.

Other companies that have followed suit include publisher Grupo Expansión, creative agency Makken and The Colosio Foundation. This is despite large-scale highway construction to help reduce city traffic congestion, and new skyscrapers in the central business district.

Space in the city’s skyscrapers comes at a cost: $25/m2 to $35/m2 in Paseo de la Reforma and Lomas de Chapultepec, and more than $30/m2 in Polanco, according to real estate advisory firm JLL. “The rental rate can drop as low as 20% less than a standard Class A skyscraper,” says Hector Klerian, international director of JLL for Mexico.

MODERNISING THE CITY Mexico City is undergoing a facelift to modernity, where European-inspired skyscrapers have been rising past the previously restricted line at the top of the city’s palm trees since the 1950s.

But a number of old mansions have been retained among the shiny glass facades of corporate headquarters — especially along the wide avenue Paseo de la Reforma, the capital’s most sought-after business address.

The residential market continues to perform, hitting a monthly rental rate of $477 for one-bedroom apartments in the city centre; outside the city this amount nearly halves to

Mexico’s capital is a good bet for foreign investment, with economic reform and a young population making it one of the fastest growing emerging markets

In the first half of this decade, a number of the city’s older character homes have been repurposed into corporate headquarters for companies such as Heineken

WORDS: DAVID A STEYNBERG :: PHOTOS: ISTOCK

$286 a month. Similarly, threebedroom city apartments average $1,000 a month, while moving from the CBD they let from only $600.

For those with equity and the ability to obtain mortgage financing, apartments in the city centre sell for an average of $1,800/m², while outside the centre prices drop to $1,100/m². The annual average mortgage lending rate currently sits at more than 11%. This recent move to modernity has seen a spill over into the city’s residential stock too, with many young professionals demanding similar amenities to those supplied in their offices.

MIMICKING THE MEXICAN MIRACLE Paladin-3Mil II is a joint venture formed in February this year, currently developing off-plan housing projects that target middle-income homebuyers and investors, to help fill the void for contemporary real estate in the central districts of Mexico City.

“The new joint venture will capitalise on the burgeoning demand for modern housing in Mexico City,” said Manuel Campos, CFO of developer 3Mil SA de CV. He notes that favourable mortgage programmes provided by large private banks support middleclass home ownership.

Business collaborator Santiago Gil, head of Paladin Realty Partners, backs this view. “Mexico’s middle-class population is expected to swell in the coming years,” he says. “This growth in incomes, amid a slowing oil sector and global energy constraints, may largely be thanks to President Enrique Peña Nieto’s reforms, which aim to mimic the socalled ‘Mexican Miracle’ that

modernised the economy between the 1950s and 1980s — and saw GDP increase by a 6.5% annual average. At the time, productivity improved by a 4.3% annual average, according to McKinsey, which hailed the country ‘a model for economic development around the world’.”

Mexico’s demographics are interesting: more than half its huge population is younger than 30, which spells opportunities for the real estate market. This demographic is mirrored on online real estate portals — Lamudi, a buying and renting portal, reports that 52% of its users are aged between 18 and 35 years old.

“Young Mexicans without the capacity to purchase property, but who want to move out of their childhood homes, are driving the rental market. Those recently married or looking to settle down are taking steps to buy their first properties,” says Vera Makarov, Lamudi’s former CEO for Latin America.

Property investors would be silly to ignore this market: it’s big and young, and has a growing income base of people who are searching for quality.

Mexico’s demographics are interesting: more than half its huge population is younger than 30, which spells opportunities for the real estate market

The cost of Mexico City living 11% — approximate

annual average mortgage lending rate

City centre $477 — one-bedroom

apartment rentals

$1,000

— threebedroom apartment rentals

Outside the CBD $286 — one-bedroom

apartment rentals

$600

— three-bedroom apartment rentals

INTERNATIONAL Friday September 25 2015

The country is attracting a number of high-end overseas investors, including an American billionaire who paid €26.5m for an estate in county Kildare

Irish property market booming

Property prices on the Emerald Isle are increasing at unprecedented rates.

Although still lower than before the crash, it’s a trend that is unlikely to last WORDS: LEA JACOBS :: PHOTOS: ISTOCK

I

reland's property market has been on a bit of a roller-coaster ride over the past eight years. In 2008 the market was down: the residential property price index dropped by 12.4%. In 2009, it was really down: prices of homes decreased by 18.6%. By 2010, property prices dropped by 10.5%, before plunging by 16.7% in 2011.

The picture started to change in 2012 when prices decreased by only a moderate 4.5%. The market started to recover in 2013, with prices increasing by 6.4%. In 2014 house prices increased nationally by 13%, while demand for property in Dublin led to a 22% gain.

It's been widely acknowledged that Ireland suffered one of the most severe property crashes among developed economies during the downturn.

According to the Organisation for Economic Co-operation and Development (OECD), Ireland didn't only experience a sharper price decline (property prices dropped by an average of 53% compared to a typical OECD fall of 23%), but house prices continued to drop for the next five years, compared to the typical housing bust duration of four and a half years.

WAY ABOVE AVERAGE The tide has, however, turned in dramatic fashion. In July this year, the Irish Times reported that property prices in the country had increased by more than six times the EU average in the first three months of 2015. The national average increased by 16.8% during the first quarter of 2015, whereas Sweden saw an increase of 11.6%, Hungary had an increase of 9.7% and UK prices reportedly increased by 8.5% during the same period.

Concerns about a property bubble led to Ireland's Central Bank imposing a mortgage cap early this year.

The measures, which were amended amid political pressure to assist firsttime buyers, call for bigger deposits and loan-to-income requirements. As things stand, first-time buyers can secure a 90% mortgage loan for the first €220,000 of the value of the mortgage.

Seasoned and investment buyers are, however, required to put down a 20% deposit.

It appears that lending restrictions are starting to have the desired effect as it has been reported that house prices are beginning to drop.

Wealthy buyers in general have not been affected by the

cap, and the sale of homes above the €1m mark jumped by 41% during the first four months of 2015. The country is attracting a number of highend investors, including an American billionaire who paid €26.5m for an estate in County Kildare.

Christie’s International Real Estate recently released a report highlighting the starting prices of luxury properties around the world.

Although Irish property doesn't feature in the report, wealthy buyers can expect to pay from approximately €3m for an entry level luxury home in Sydney to €5.4m in London, and about €7m in Los Angeles.

BUYING A HOME AND HISTORY The Irish luxury property market was hard hit by the recession. As such, high-end homes are still relatively inexpensive compared to the rest of the world. Upmarket five-bedroom, three-bathroom homes in Thormanby Hill, an exclusive development

in Howth (a fishing village outside Dublin) are selling for about €1.5m.

For those looking for something with a bit more history, a six-bedroom property in Dalkey suburb outside Dublin, built in 1845, is on the market for €3.5m.

Likewise a Victorian mansion in the same area, complete with its own private harbour, is on the market for €10.5m.

Originally built in 1847,the home has welcomed the likes of King Edward VII and George V of England.

Now is a good time to buy property in Ireland — while prices are still way below levels seen before the economic downturn. A prime example of how prices have dropped is the sale of a property in Dublin’s embassy district Ballsbridge, which changed hands in April this year. The seller bought the property shortly before the crash, paying €12.5m for the privilege. This year, the home sold for €4.8m — the same price at which it sold in 2004.

In July, the Irish Times reported that prices had increased by more than six times the EU average in the first three months of 2015

Rise and fall of house prices

2009

— residential property price index decreased by 18.6%

2014

— residential property price index increased by 6.4%

41%

— increase in sales of homes above €1m in Q1 of 2015

€26.5m

— recent selling price of a County Kildare estate

FOCUS ON WESTLAKE ECO-ESTATE September 25 2015

Beautiful living at Westlake Eco-Estate Situated near the Westlake wetland with its diverse birdlife and animal life, Westlake Eco-Estate offers the practicality of urban living at the edge of nature WORDS AND IMAGES: SUPPLIED

GET IN TOUCH

Contact Balwin Properties development executive Slade Brookes on 083 612 2515 or slade@balwin.co.za, or visit him on site on show days – Wednesdays, Saturdays and Sundays from 2-6pm. For more information and to see construction updates, visit www.balwin.co.za.

FOCUS ON WESTLAKE ECO-ESTATE September 25 2015

M

aya Angelou said: “I’ve learnt that making a living is not the same thing as making a life.” But it can be difficult to find time to do both; what we have to do, and what we want to do.

Balwin Properties’ latest Gauteng development, Westlake in Modderfontein allows for this balance: not only is it the perfect environment for beautiful living, but also it is conveniently located and enjoys easy accessibility to business centres, schools, shopping centres and healthcare. It offers residents access to a wide range of world-class on-site leisure, sporting and entertainment facilities too.

For those who need to get their heart rate up, Westlake offers a squash court, fitness track and a Discovery Vitality gym.

For residents who wish to unwind, Westlake has an onsite spa, green walkways and

picnic pockets.

Enjoying quality time with friends and family is easy in the Westlake Lifestyle Centre, with its restaurant, entertainment centre, braai area, children’s play area and swimming pool – all in the 24/7 physical safety of the estate and its electronic security systems.

The one-, two- and three-bedroom apartments are stylish, spacious and beautifully finished and Wi-Fi ready. They come standard with eco-friendly appliances and are fitted with smart meters, for practical, convenient green living.

The development of this 790-unit complex has started and the show unit is expected to be ready next month.

Already proving popular with homebuyers and investors, Westlake Eco-Estate offers young men and women, single professionals, couples and small families the perfect opportunity to make theirs a beautiful life.

PROPERTY NEWS Friday September 25 2015

Proposed Gautrain extension could benefit property owners

T

he Gautrain is Gauteng’s golden child when it comes to job creation and economic development.

This state-of-the-art public transport system reduces traffic congestion and time, and makes commuting more enjoyable for consumers.

Gautrain’s airport service was awarded an international Global AirRail Alliance award in 2014. This international award recognises best industry practice for customer service excellence in the air-rail industry.

But it’s not only commuters who are benefiting from the Gautrain. Property owners close to the stations have experienced substantial returns on their investments, with values increasing compared to surrounding areas, according to recent information released by Gautrain. Rental prices in areas such as Rosebank have seen massive appreciation in some cases.

Ingrid Jensen of the Gautrain Management Agency says they are conducting a feasibility study to determine the future of the rapid-rail network extension.

“The study will examine the entire rapid-rail network

extension for Gauteng, not just the Gautrain, and will assess economic feasibility and transport demand,” she says.

The study’s suggested routes include extending the Gautrain route from Hatfield, Pretoria, and OR Tambo International Airport beyond Park Station to Westgate, south of Johannesburg. The second proposed extension will travel between Naledi and Mamelodi, stopping off at Roodepoort, Ruimsig, Honeydew, Cosmo, Fourways, Sunninghill, Blue Hills, Samrand, Irene and Tshwane East along the way. The third extension would run from Honeydew to Sandton, with the fourth extension to run from the existing Rhodesfield station through to Boksburg.

Findings will be presented once the study is complete in the middle of 2016. Jensen says the Treasury will then make decisions to approve or reject certain routes. So while the proposed new routes have not been confirmed, investors looking to buy property should take note, as houses or apartments with easy access to Gautrain or other rapid-rail stations could prove to be a golden investment.

SA’s FLOURISHING FIRST-TIME HOME MARKET Despite the uncertainty of the Eskom crisis, increasing interest rates and the depreciating rand, the market for first-time home buyers appears to be thriving in SA. Chris Tyson, CEO of Tyson Properties, says: “We’ve seen no slowdown in the housing market for first-time buyers this year — overall we’re experiencing the best year since our inception in 2005.”

Tyson attributes part of the reason to a shortage of quality homes to buy as a result of the 2008 market downturn.

Kevin Penwarden, CEO of SA Home Loans, agrees that from a mortgage perspective, the biggest growth is at the lower end of the property price market. “But at a consumer level, new buyers are still facing affordability challenges that are tempering the market’s growth,” he says.

Shaun Rademeyer, CEO of BetterLife Home Loans, says that because the average deposit requirements for first-time buyers are now 8%-10%, this affects the types of properties that are being bought and sold in this segment. “Many first-time buyers are in their thirties when they can afford a deposit,” he says. “They’re usually married with kids, so things such as schooling, transport and lifestyle are important considerations for them when

deciding what and where to buy.”

Rhys Dyer, CEO of ooba, says the average age for first-time home buyers is 34.

“More than half the bond applications received by ooba are for first-time home buyers, and more than seven of 10 applications we receive are approved. Indicators of continued lender confidence include a 4% improvement in the year-on-year bond approval rates in July, as well as further improvements in pricing from banks. The average cost of homes purchased by firsttime home buyers has also increased from R731,651 in July 2014, to R764,317 in July 2015.”

For home loans, Penwarden is cautiously optimistic about the next three to five years.

“While interest rate increases and other economic factors may impact affordability, we expect demand to outweigh supply in the residential sector and for it to continue to perform well.”

Rademeyer feels that the market will continue to realise slow growth, with some of the higher-end properties absorbing most of this slowdown. “First-time buyers would probably feel the negativity in the market and be resistant to buy,” he says. “But they could benefit most by being better able to negotiate the best deal because of this.”

New luxury homes near Menlyn

P

retoria East’s new luxury housing developments are targeting home buyers keen to invest in an upmarket lifestyle. One of these is the new Alpine Village development, an upmarket sectional title complex.

Harcourts area property agent Elna Barnard says it can cost R2m for a north-facing, 120m2 two-bedroom and R2.5m for a 153m2 threebedroom property. These luxury homes are sold directly from the developer, which means no further duties are payable on the property.

The development is also a good investment opportunity in high-end living for a metropolitan lifestyle. Barnard says that interest in these properties has been high, with most of the two-bedroomed homes already sold. The still-tobe-built Alpine Village complex (occupation is estimated to

be on 1 June 2016) is situated inside The Hillside Village, a 24-hour security estate adjacent to Menlyn Maine.

Menlyn Maine is SA’s first green, mixed-use city.

Many of these buildings have been awarded top honours for being environmentally friendly, located in a cluster of luxury with sustainable spaces between the buildings – from sidewalks and streets to parks and squares.

The Menlyn Maine development is already home to companies such as BMW, Nedbank and Sage VIP. It has good shopping spots in its new Central Square, which will expand with a 30,000m2 boutique shopping mall, a piazza, a 213-room apartment building and conferencing hotel. Other additions include a 14,500m2 office tower, a 4,000m2 Virgin Active Classic gym, and a public park.

owners’ association that looks after common interests such as security and the upkeep of the area. This inclusive approach ensures sustained demand for the area and above-average capital gains for our buyers. And that is the real driver of demand for our new developments.

higher the costs of providing services. Africa’s population growth is tremendous and there is a strong sense that the continent is gearing up for economic emancipation.

These two factors will drive demand for housing and the expansion of the urban edge, so I am not sure if we will ever reach saturation. I do believe that inflationary pressures could lead to a situation where home ownership may become unaffordable. And then I expect residential funds will build up vast holdings that will capitalise on an ever-increasing demand for rental stock.

My advice to people is to buy while you can.

The rise and rise of residential developments WHERE ARE ALL THE BUYERS COMING FROM? 40% of our buyers are investors who see the opportunity that the strong rental demands holds for them, and the other 60% are owner-occupiers. Young families from the Southern Suburbs are buying because there is little affordable stock in that area. And many buyers were renting in the Northern Suburbs but wish to escape the rental trap by securing their own home. We are also seeing strong demand from “semigrants” — those relocating to the Western Cape from up north.

WORDS: CATHERINE DAVIS PHOTOS: SUPPLIED

D

evelopments seem to be under construction at the edges of suburbs everywhere you look. But MSP Developments CEO Riaan Roos says the success of these developments is about meeting community needs.

BUH-REIN ESTATE IN CAPE TOWN’S NORTHERN SUBURBS WILL CONSIST OF 3,500 HOMES. IS THE DEMAND REALLY THAT HIGH? Population growth is the

strongest driver of demand for housing, because everyone needs a place to live. In the Western Cape, the geography of the peninsula dictates that current and future expansion of the urban edge will take place in the northern suburbs.

That is why the Cape Metro’s Spatial Development Plan provides for up to 40,000 new homes to be developed in this area over the next two decades.

We are well positioned to capitalise on this.

WHY SUCH AN INCREASE IN DEMAND FOR THESE NEW DEVELOPMENTS? New developments are attractive to first time buyers since typically no deposit is required and all costs are included. There are also many buyers who simply wish to scale down. Regardless of their motivation, security remains a primary driver of consumer demand and this pushed us to reinvent how we approach new housing developments.

We strive to create a secure estate environment that binds the community into a collective through the establishment of a home

DO YOU EVER SEE A SATURATION POINT? Densification is the only counter measure to an everexpanding urban edge, but there is only so much that can be done. Urban sprawl is a reality with which local authorities must contend — the further it spans out, the

“We developed a secure estate enviroment and established a home owners association that serves to bind the community into a collective” RIAAN ROOS, CEO, MSP DEVELOPMENTS

H

HOMEFRONT

Coastal Property Looking for the perfect property? Whether you’re relocating to the coast and buying a new house, or after a lock-up-and-go holiday home, find your ideal investment opportunity here

HIGGOVALE

R19 750 000 PRIME LOCATION Bedrooms 3 Bathrooms 3 Garages 2

WEB 355733 The location of this property is the ‘be-all and end-all’ of prime addresses in this sought-after suburb. With the cable station almost behind the home and panoramic views in front, this is south-entry, north-facing at its best.

[O] 021 423 9146 MICHAEL HAUSER 082 888 0970 DORIS RICKETTS 082 898 0519

TAMBOERSKLOOF

R18 500 000 A 'TOP BILLING' PROPERTY Bedrooms 5 Bathrooms 4 Garages 2

WEB 360287 Designed by a top designer for his own use, this exquisite property, beautifully located, has been featured on ‘Top Billing’. The timeless elegance is ideal for the owner to entertain the African royalty and New York executives.

[O] 021 423 9146 MICHAEL HAUSER 082 888 0970 DORIS RICKETTS 082 898 0519

HOUT BAY | LLANDUDNO | ATLANTIC SEABOARD 30 YEARS EXPERIENCE AND RECORD SALES

HOUT BAY

Lola Kramer

Shaun Kramer

PROFESSIONAL SERVICE | PERSONAL TOUCH

28M

AN OASIS OF NATURAL SERENITY

CONTEMPORARY COUNTRY LIVING - FAMILY FANTASY - Youtube link: https://youtu.be/DtgacFKHDdE WEB: 2765 Few homes enjoy such a privileged position with river frontage on 2 acres of amazing landscaped garden. Countless shades of green countryside enhance the majestic mountain views, while high ceilings with full glazing ensure the view can be enjoyed from every angle. The easy-flowing sun-filled interiors awash with northern light creating a superb interplay of light & space in this impeccably presented chic country home.

House size: 790 sqm• 5 Bedrooms• 6 Bathrooms• Study• Wine cellar •Aircon• Guest wing• Cinema room• Childrens TV room• Family TV room• Pool 12 x 4m• State-of-the-art security system• Solar power back-up • Automated irrigation• Borehole 4000 litre per hour• Lutron lighting system• Surround sound throughout the house & patio• Cottage: 161 sqm• 2 bedrooms• 2 bathrooms. Staff accommodation: 30sqm . Triple garage, guard house! Walking distance to some of the finest restaurants & shops in the cape. Please call for private viewing & invest in your future paradise now!

SHAUN KRAMER: 079 520 9769 - LOLA KRAMER: 083 252 1023

HOUT BAY VICTORSKLOOF

24M

4 BEDS / 4 BATHS / POOL / DOUBLE GAR / 5-10 PARKING

WEB 2273

PARADISE FOUND, DOWN A QUIET COUNTRY LANE Set on 1 Acre encompassing outdoor living in a unique luxury setting with spectacular mountain & bay views. Entertain al-fresco on a large covered patio with breathtaking views.

The property is walled, electrified & has a guard house at the gate. Indigenous, secluded garden borders 2 Estates, Ruyteplaats & Avignon. Gracious reception room, with high beamed ceiling is flanked by dual court yards. Steam room flows to outside pool with shower & toilet.

Separate guest room/staff quarters, wine cellar. Magnificent finishes throughout. A must view!

FRESNAYE

18M

WEB 3487

5 BEDS / 3 BATHS / POOL / 3 GAR / STUDY / GARDEN

PERFECTLY EDGED & EYE CAPTIVATING IN A PARAMOUNT POSITION! DUAL LIVING Grand, elegant and majestic, this is truly the height sophisticated grandeur. “Escape” the concrete-jungle & ease into the elements of a quintessence lifestyle designed for the elite.

Exuding elegance & refinement coupled with upmarket, finishes throughout, this private & tranquil palatial retreat is ideal for the elite family. Offers lovely mountain & Sea Views, situated in a tranquil environment, close to private schools, the beaches & shops.

SHAUN KRAMER: 079 520 9769

SHAUN KRAMER: 079 520 9769 - LOLA KRAMER: 083 252 1023

HOUT BAY VALLEY

WEB 3244

13.9M

4 BEDS /4 BATHS / POOL / LAUNDRY / TENNIS COURT / TV ROOM / STABLES

LUXURY FARM HOUSE - CONTEMPORARY CAPE COD STYLE ON 2 STUNNING ACRES ( 8 542 SQM) + STABLES + COTTAGE + TENNIS COURT Majestic wraparound mountain views, Open-plan kitchen & dining areas flows to covered entertainment area - ideal for Al-fresco dining, relaxing and entertainment at its best.

Spacious main bedroom with luxury ensuite. Pool with extensive sun deck. Breathtaking views from every room.• Guest bedroom or suite with ensuite • Tennis / basketball Court with flood light • Large pantry/ laundry • Garaging for 4 cars • Versatile 1 bed & bath cottage or work from home • Excellent security + CCTV • Riparian rights.

SHAUN KRAMER: 079 520 9769 - LOLA KRAMER: 083 252 1023

HOUT BAY KENROCK ESTATE

WEB 3286

11.995M

4 BEDS/ 3 BATHS / 2 GAR / POOL

AN EXPRESSION OF ELEGANCE, STYLE AND SECURITY ON ONE OF THE LARGEST PLOTS Perched high up in Kenrock with magnificent mountain & valley views. The Entrance Hall with high ceiling faces one of the patios for outdoor dining or entertaining by the pool. 3 Bedrooms downstairs, extra spacious main en-suite opening to balcony, study with its own balcony, wine tasting/cigar room, powder room, exquisite eat-in kitchen with Aga stove, separate utility room, formal dining room, lounge & a sumptuous guest suite or second main bedroom upstairs. This immaculate home exudes sophistication. Staff quarters/ teenage pad, double garage & covered parking. Security beams & lighting, alarm & wonderful secluded garden.

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VANA WASSENAAR: 083 549 9044

www.asbp.co.za www.lolakramer.com

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PRIME GUEST HOUSE FOR SALE IN THE BOULDERS

R14 950 000

Own a part of Cape Town’s tourism circuit! This world renowned landmark, next to the Penguin reserve in The Boulders has now come on the market. This lodge offers not only magnificent views, but an excellent restaurant, 2 self catering 2-bedroom family suites, 10 double rooms and 2 twin rooms, all en-suite. The rooms offer a blend of unique character, rustic flair and finishing. Penguins can sometime be found nesting in the property.

Financials available to serious buyers. For more information and to arrange viewings, contact us today.

GAVIN DRAKE C: 078 019 1998 T: 021 975 3188 E: gavind@rigroup.co.za HERMAN BOK C: 082 807 1265 T: 021 975 3188 E: hermanb@rigroup.co.za

Realtors International Durbanville / www.durbanville-eiendomstrust.co.za 43 Main Road, Durbanville, 7550 / Principal – Leendert Hols

HOMEFRONT

Marketplace From sea to suburb to city, the8country’s most beautiful Chapter Home loan homes await you Home loan application process application process

Chapter 8

MAKE Home loan Chapter 8 Chapter 8

9168

application process Home loan

application process IN HOME LOANS SIX SIMPLE STEPS

Chapter 8

Home loan application process

HAPPEN

Chapter 8

Home loan application process

1. APPLY FOR YOUR HOME LOAN

2. GET A BOND APPROVAL

3. VALUATION OF YOUR DREAM HOME

4. LOAN IS APPROVED

5. BOND REGISTRATION

6. HOME OWNERSHIP

Go to nedbank.co.za/homeloans for all you need to know, from the loan application to moving in.

Whether you are a first-time buyer or not, we’ll make finding your home sweet home quick and easy with the Nedbank Home Buyer’s Guide. For the full guide and video visit Nedbank.co.za/Homeloans.

nedbank.co.za

Nedbank Limited Reg No 1951/000009/06. Authorised financial services and registered credit provider (NCRCP16).

Life is about more than just the 9 to 5

LIFESTYLE & RETIREMENT

St John’s Village is more than just a beautiful place to call home… It’s a perfectly placed slice of heaven, set on 190 hectares of rolling pastures, dams and plantations and close to many of KwaZulu/Natal’s finest private schools and the charming town of Howick. Whether you’re looking to get back to nature, longing for a vineyard view as the sun sets or hoping for a retirement village that’s much more about lifestyle than retirement, there’s a place for you.

ST JOHN’S LIFEST YLE & RETIREMENT ESTATE

KARKLOOF ROAD. HOWICK L U C Y: 082 547 8798 | l uc y@s tj oh n s v i l l ag e.c o.z a GERARD: 082 552 8622 | ger ar d @s tj oh n s v i l l a ge.c o.z a

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Others might call this the height of luxury.

You could call it home.

Visit our luxury residential apartments at The Houghton which offer stunning skyline views and leisure spaces like golf and running paths. The Houghton is a load sheddingfree zone, and will encompass The Houghton Hotel, a member of The Leading Hotels of the World, with its gym, spa, pools, deli, skybar lounge and restaurants.

LIMITED NUMBER OF APARTMENTS LEFT – DON’T LOSE OUT

ON SHOW DAILY – LIFESTYLE OPPORTUNITIES FROM R3,9 MILLION Visit the latest apartments on Saturday and Sunday.

SHOW APARTMENT Unit 12118, The Houghton on the 12th, 53 2nd Avenue, Houghton Office – 011 034 2201 || Alan Becker – 082 718 8100 Email – alan@thehoughton.com

WESTERN CAPE DRAMATIC 4 BEDROOM ARCHITECTUAL HOME SET IN FERNWOOD This home is an entertainer’s delight. Featuring 2 spacious living areas, with polished Palamino marble and Bamboo flooring, featuring a gourmet kitchen, main bedroom with a dressing room and ultra-modern bathroom featuring a backlight marble shower wall. 3 bedrooms and 3 fabulous bathrooms, a separate study, two gas fireplaces, separate scullery, double garage, a heated lap-pool with feature lighting, and a low maintenance garden designed

by Mary Maurell. The staff accommodation is finished to a high standard and can be used as a flatlet. Close to UCT and all top schools.

BEDROOMS 4 BATHROOMS 3

NEWLANDS R12.990 million

Tessa van Rensburg 079 434 6162 Web Ref: 92284

GAUTENG 4 BEDROOM CLUSTER FOR SALE IN BRYANSTON Exquisite split level cluster offering all you need and more. 4 en suite bedrooms. Expansive living areas, magnificent grand open plan kitchen leading onto TV room and decked patio, Jacuzzi and built in braai. Laundry and housekeepers suites, double lock up garages and excellent 24hr security.

BEDROOMS 4 BATHROOMS 4 Bev Feinblum 082 925 9245 Mark Chesler 082 765 3263 Web Ref: 94917

BRYANSTON R5 million

WESTERN CAPE TUCKED AWAY IN THE HEART OF BROOKWOOD,WITH THE MOST AMAZING VIEWS OF THE SEA AND MOUNTAINS, SITS THIS FAMILY HOME Lower level of the home consists of a the third bedroom and bathroom, a country-style kitchen, open plan lounge and dining area which flow onto the sea facing, sunny entertainment area and pool. Upstairs, the master suite is spacious and opens onto a wraparound balcony. The second bedroom, has its own en-suite bathroom and a mezzanine level for a teenage study area or extra beds. An additional living area and study with high ceilings shares the rest of the upper-level space. A secure, stylish and well-designed home for easy living with peace of mind.

BEDROOMS: 3 BATHROOMS: 3

NOORDHOEK R4.785 million

Belle Nel 084 469 9714 Mary-Anne Coates 082 950 8444 Web Ref: 94881

RESIDENTIAL SALES & MARKETING • RENTALS • DEVELOPMENTS • HOME LOANS