Neighbourhood CT - 27 September 2020 by Your Neighbourhood

Neighbourhood 27 SEPTEMBER 2020

PROPERTY & LIFESTYLE

Cutting edge High-end buyers who act fast can secure one of only four designer homes in an exclusive boutique estate now being constructed in Hohenort, page 7

ESTATES TO INVEST IN

yourneighbourhood.co.za

SPRING INTO YOUR GARDEN

Connecting homeowners with great communities

PROPERTY NEWS

MY PROPERTY WORLD

27 SEPTEMBER 2020

Property focus

Quality residential investments

Take advantage of positive market conditions and reap the rewards later, is the advice. Where are the best performing developments and locations in 2020? WORDS: KIM MAXWELL

IMAGES: SUPPLIED

THE REID AT LIMBROPARK, JOBURG

ELLIPSE WATERFALL IN WATERFALL CITY, MIDRAND

ales of residential property may have endured a few hiccups during 2020, but the category seems to be weathering the storm. The general market sentiment is that low interest rates are too good an opportunity to pass on. Property investors and homeowners are buying into quality developments now to benefit when the market recovers.

OLIVE PLACE AT KLIPFONTEIN FARM, MALMESBURY

PUBLISHED BY TIMES MEDIA PROPERTY PUBLISHING

“The recent resurgence in market activity is fuelled by an substantially lower interest rate, lower prices in some affluent suburbs and lower transfer duties,” says FNB senior economist Siphamandla Mkhwanazi. While there may still be uncertainty about the lasting impact of the pandemic, a historically low interest rate and lower transfer duties, particularly in the mid-priced sector, are a big incentive. FNB’s prediction is that current levels of buyer activity should continue in the short term.

Pam Golding Property group chief executive Andrew Golding says there’s a marked trend towards buying in gated communities. “In fact, residential estate living has been attracting interest for many years.”

Holistic lifestyle

“The best performing developments are ones that offer residents a convenient, holistic lifestyle,” says Rabie Property Developers director Miguel Rodrigues. “Great security and nearby facilities have become important factors in buyers’ decision-making processes. “You could buy in an urban neighbourhood with no security assurance, where you might not even be able to walk outside safely. Or you could buy an apartment in say, Century City, where the precinct is pristinely managed and has a central security

system and team at work 24/7. Plus you’d have shops, restaurants and offices on your doorstep.” Rabie’s Bridgewater One apartments, currently under construction in this precinct, appeal to buyers looking for this type of lifestyle offering in a fairly central Cape Town location. More than 85% of units have sold since November last year.

Green lung

Steyn City marketing and events group head Zoe van Onselen says the lockdown introduced a greater emphasis on security and lifestyle for property owners and investors. “Although buyers still favour the convenience of city living, there’s a shift to less density – ideally with the presence of a green lung and space to

EDITORIAL TEAM

ADVERTISING SALES

Editor: Marana Brand marana@yourneighbourhood.co.za Subeditor: Desirée Tesner-Smith Designers: Peter Batistich & Samantha Durand Visit yourneighbourhood.co.za

Call us for advertising opportunities on 087 828 0423 Production (Editorial & Property Advertising): Lucea Goosen jhb@yourneighbourhood.co.za Online coordinator: Chantelle Balsdon chantelle@augmentcreative.com

27 SEPTEMBER 2020

MY PROPERTY WORLD

breathe. They still want to be able to do it all but new work-from-home conditions mean they’re no longer bound to an address close to their work premises.” Despite what the data says, she believes the move away from city living postCovid-19 could be permanent. “This is an interesting trend because at present, 55% of the world’s population lives in cities and forecasts suggest that figure will be closer to 70% by 2050, across both developed and developing nations.” As the largest residential estate in the country, Steyn City certainly ticks the boxes as a “top performer”. “Although the South African property market has shown a downturn, Steyn City stands out for resisting this trend,” says Van Onselen. “We’re in front when it comes to retaining and growing investment value at the high end. It’s a sound investment, regardless of economic conditions – and this is what buyers are looking for. Purchasers who bought at the time of our launch are already seeing a return on their investment.”

Green homes

For sectional title developer Balwin Properties, creating a pipeline of certified green homes is attracting apartment buyers looking for sustainable home features at an affordable price. Balwin and Absa recently co-created a green mortgage product that offers customers a competitive finance rate. The first Absa Eco Home Loans are now being granted. Qualifying buyers will benefit from a reduced interest rate on their mortgages for homes with green Edge certification at Balwin Properties’ Gauteng residential estates The Reid, Polofields and The Blyde, and De Zicht in Cape Town. In June 2019 Balwin registered 16,000 apartment units with the Green Building Council South Africa’s (GBCSA) Edge certification across seven of its built-to-sell developments as well as three green developments. The homes are clustered around lifestyle centres that achieved the highest six-star GBCSA rating. With planning, green buildings can be developed at scale without much additional expense. “Extra building costs are minute if you’re an astute developer,” says Balwin Properties CEO Steve Brookes. “We should strive to get a financial benefit for our customers. And I’m passionate about green buildings. We’re also keeping the architects on their toes,” adds Brookes. “They need to put their energy into making a better living environment.”

Gamechanger

Kent Gush describes 2020 as a challenging property space for highend luxury apartments but says a significant drop in the interest rate has been a game-changer. “It’s almost cheaper to buy than to rent at the moment. If you’d told me at the beginning of the lockdown that we’d be enjoying these sorts of good residential sales now, I never would have believed you,” he says. “At 7%, this is the lowest

HAZELWOOD ESTATE IN BURGUNDY ESTATE, CAPE TOWN

rate in decades. That’s the fundamental driver of the market, in my opinion.” Luxury apartments at Ellipse Waterfall start from R1,6m and penthouses sell in the R14m to R20m range. “The end user is saying, ‘I’d rather buy than rent’. The savvy investor is saying, ‘For the first time I’m getting yields of 8.5% to 9%plus, which hasn’t been seen for some time’. Suddenly the yields are looking very attractive.” It’s also about location, says Gush. “If you look at the quality of the build and other factors, many investors believe this mixed-use Waterfall precinct is the new growth hub in Gauteng. Developers are pinning their hopes on good capital growth, with Waterfall as the new Sandton.”

Rural offering

With 34 sales valued at almost R50m at Olive Place since the March 2019 release to market, developer Multi Spectrum Properties (MSP) appears to be doing something right. Olive Place is part of Klipfontein Farm lifestyle estate in Malmesbury. It offers rural homes at an accessible price point, appealing especially to young professionals who have flexible work routines.

The future

Successful residential developments of the future will be those offering flexibility and a mix of price points. Rodrigues says it’s not just about the inside of your home – your broader environment will count too. That’s why Rabie’s residential developments all appeal to multigenerational and multi-income residents. For instance, Burgundy Estate north of Cape Town has three schools, a convenience shopping centre and a restaurant. Although it’s not a gated precinct, each complex within the estate is separately secured, with central estate patrols. Homes range from single-level townhouses for families to low-rise apartments and erven with standalone homes. “You can buy an apartment at R995,000 or a standalone home at R3,2m, in addition to a variety of rental options,” says Rodrigues. “Our most recent development, Hazelwood, consists of lowrise apartments, a communal swimming pool and a clubhouse, with manned security.” The units are sold out.

A new Olive Place starter home with two bedrooms, one bathroom and a carport is priced from R1,049,900. “The monthly repayments are lower than many rental options available and will see you owning a home in a family-friendly, perimeter walled and access-controlled estate,” says MSP project liaison manager Werner Scheffer. “Olive Place brings a completely new option for family living to Malmesbury –literally a breath of fresh air. Some residents work in Cape Town and many remark on what a pleasure it is to commute from Malmesbury instead of sitting in traffic in the city,” says MSP estate agent Arno van der Merwe. “It feels like living on a farm, without the risks. The tranquil atmosphere and the fact that you can go for walks in the countryside are a great plus.”

OASIS IN STEYN CITY, JOBURG

THE REID AT LIMBROPARK, JOBURG

The best performing developments are ones that offer residents a convenient, holistic lifestyle MIGUEL RODRIGUES, DIRECTOR, RABIE PROPERTY DEVELOPERS

Scan QR code for a free tax consultation.

12 J Property

GET MONEY IN YOUR POCKET AND A PROPERTY IN YOUR FUTURE Invest in our Eaton Square development and get a

100% tax break

Our Flyt Select Fund gives you a massive tax break and makes you the owner of a preapproved investment apartment. Finance it yourself or get up to 100% funding upon approval. We use a section 12J company for your investment and you can get up to 45% tax back.

FLYT PROPERTY INVESTMENT

ANUVA INVESTMENTS

Zane (079) 525-1045 Darryn (083) 258-6316 Ryan (079) 487-1953 invest@flytproperty.co.za www.flytproperty.co.za

1st floor, Constantia Emporium M39 Ladies Mile Road Belle Constantia 7806 P.O. Box 44764, Claremont 7735 T: +27 (21) 683 0500

27 SEPTEMBER 2020

ADVERTORIAL

It’s so easy to invest in Cyprus Buy directly from Aristo Developers, the leading property developer in Cyprus, and save thousands on your investment

any South Africans are looking to invest in overseas properties, most of them seeking a Plan B as well as an investment opportunity. The island of Cyprus, a full European Union (EU) member state, is definitely an attractive choice, largely thanks to the plentiful advantages this European country has over other property destinations. A thriving real estate industry, a favourable tax system, fast and efficient immigration programmes through property investment, a safe environment and a strategic geographic location are some of the reasons property investors are drawn to Cyprus. This country has long established itself as a thriving business hub, with a vast array of investment opportunities in key growth sectors of the economy. The island’s advanced infrastructure, high quality of life and low cost of living are not only key reasons to live there but also support a choice to invest in Cyprus. The country is an ideal investment gateway to the EU and a portal for investment outside this zone too. It’s an

option that ensures safety and stability for investors, as well as market access to the EU. Cyprus has a simple and transparent tax system with multiple exemptions for both corporates and individuals. Benefits include: • Zero property tax • Zero transfer fees • 5% reduced VAT on first property purchase (standard VAT rate: 19%) • Zero inheritance tax • Low capital gains tax (20%) • Non-domicile tax incentive • A corporate tax rate of 12.5% As the preferred property developer in Cyprus, Aristo Developers is recognised by a plethora of local and international organisations for its high-quality product. It is one of the few property developers in Cyprus to offer a variety of freehold properties at the most exclusive locations. The group’s diverse range, including boutique apartments, townhouses, plots, luxury villas, golf properties and beachfront residences, suits every taste and budget.

As a key partner in establishing Cyprus as a world-class investment destination, Aristo Developers has been a popular choice among investors seeking Cypriot citizenship or permanent residency through property investment.

Cypriot permanent residency

• Issued within two months • Minimum property investment: €300,000 (±R6m) + VAT • Covers the whole family, including dependents up to the age of 25 and the parents of both the main applicant and their spouse • Easy access to all of the EU • No residency requirements, besides visiting Cyprus every two years • Valid for life

Cypriot citizenship

• Examined within six to eight months • Minimum property investment: €2m (±R40m) plus VAT, part of which (€1,5m) can be sold after five years or let in the meantime • Government donation €200,000 (±R4m) • Covers the whole family, including dependents up to the age of 28 as well as the main applicant’s parents • The spouse’s parents can also be included on the Cypriot citizenship with an additional property investment of €500,000 (± R9,9m) per family • Visa-free travel to over 160 countries • Freedom to live, work and travel within the EU • Valid for life • Dual citizenship allowed • No residency requirements (no need to visit or live in Cyprus)

SEE FOR YOURSELF Aristo Developers +357 26 841 800 sa@aristodevelopers.com aristodevelopers.com

HOMEOWNERS

27 SEPTEMBER 2020

Let your spring garden blossom Spring is all about flowers, green grass and the humming of bees – what better time to be in the garden? WORDS: ALICE SPENSER-HIGGS

IMAGES: SUPPLIED

SPRING GARDEN TIPS • Always renew the soil before planting. Dig in fresh compost, bonemeal, and an organic fertiliser to replace lost nutrients. • In the absence of rain, water once a week. • Lift and divide summer flowering perennials. • Add compost to the soil and fertilise flowering shrubs and perennials with 8:1:5 or 5:1:5 organic fertiliser.

SPRING LAWN CARE

Bees love these

Salvia Salmia is a shrubby upright perennial producing endless spikes of large dark purple, pink, or orange red blooms that attract bees and stand out against the dark green leaves. Plants flower from spring onwards, needing only moderate watering. It does well in sunny beds or as a feature in a large container. For strong growth, cut back in spring, fertilise and water well.

• Water once a week (if there is no rain) and fertilise once a month. • Spike compacted lawns by pushing a garden fork as deeply as possible into the soil and wiggling it to loosen the soil. Fertilise with 5:1:5 fertiliser and water well. • Don’t mow too low: this allows the lawn to develop deeper roots, making it drought tolerant. • Don’t dig out the clover. When the lawn is mown, the clippings add nitrogen to the lawn, which fixes nitrogen back into the soil without the need for fertiliser.

Made for shade

ith everything growing so easily, here’s how to add some spring magic to your Cape garden.

Nothing matches impatiens for masses of flowers in shady beds. Make space to plant Beacon once the weather warms. Available in rose pink, white, violet, red, orange, coral, and salmon, it’s disease resistant and will flourish in dappled sun. Plant in fertile soil and feed monthly with a liquid fertiliser.

Best for borders

Verbena Firehouse provides non-stop flowers for bed edgings and borders thanks to new flowers opening as the old ones die. The foliage is tough and disease resistant. It loves morning sun and afternoon shade.

True blue

Lobelia Curacao is a showy trailing lobelia that produces abundant deep blue flowers. It is heat tolerant and is available with trailing growth for baskets or mounded for garden beds and containers. The colours are brilliant blue, blue with a white eye and light blue. Plant in full sun or semi-shade and in loose, gritty soil.

Pink splash

Sunny side up

Osteospermum (Cape daisies) are a sure sign of spring with their bright, happy faces. Low growing and compact, they are versatile and water wise once established. Look out for the magic colours in the FlowerPower series that change as they age or the popular, heat tolerant Serenity that includes Blue Eyed Beauty.

Different shades of pink are a staple of spring. A dwarf variety growing to 40cm, gaura Belleza pink softens a spring border with its airy flower spikes. Plant it in full sun, in fertile soil that drains well. Once established it is drought tolerant. Bees love it.

Spectacular shrubs and creepers Heavenly scented

Fragrant nemesia Nesia pairs well with other perfumed spring annuals like pansies, alyssum, and stocks. With its open, semi-upright growth, it can be used as a soft border, in beds or in containers and hanging baskets. The Nesia range includes two-tone flowers; Banana Swirl (yellow/pink) and Fantasy Pink (dark/ light pink). Plant in full sun, in moist, well-drained soil. Regular watering and feeding encourages continuous blooms and will extend its flowering into summer.

These are the backbone of the garden and can also be a feature, especially those that flower in spring. Find a place for sun loving purple flowering Petrea that can be grown as a shrub or creeper, white-flowered Cape May bush, and mauve Wisteria creeper. Super-fragrant Yesterday, Today and Tomorrow (Brunfelsia) grows in sun or semi-shade, while azaleas, rhododendrons, and camellias grow best in the shade. For all of these, water regularly through winter, unless it rains, and fertilise monthly from midwinter until they start flowering. Trim after flowering.

EXPERIENCE IT FOR YOURSELF Plants available from the Cape Garden Centre, Stodels Garden Centres, independent garden centres and Builders Warehouse outlets. For more information, visit ballstraathof.co.za or call 011 794 2316.

27 SEPTEMBER 2020

NEWS FIX

Amdec to help alleviate housing shortage in CTN

mong the many socio-economic challenges faced by South Africa, the backlog in the provision of affordable housing for lower-income earners is particularly worrying. While estimates about the size of the backlog vary, it’s likely that more than two million homes are needed nationally, half a million of which are within the Western Cape, and more than 300,000 in the City of Cape Town. Government is challenged to meet the need for affordable housing delivery, which means that private property developers will increasingly need to step into the breach to deliver affordable housing projects. One such developer, the Amdec Group, recently demonstrated its commitment towards helping to alleviate the shortage of affordable housing in the province by announcing the development of a R500m affordable housing estate in Ottery, Cape Town.

Golden Grove Estate will be developed on an 11ha site formerly known as Golden Grove Poultry Farm, situated on the corner of De Wet Road and Elm Street in Ottery. It will offer 1,000 affordable residential apartments – one-bed units of 24m2, two-bed units of 36m2, and three-bed units of 54m2 – on a rental basis. They are targeted at households with an employment history and a joint household income not exceeding R22,000 per month. The rental cost will not exceed 30% of the tenants’ household income. Golden Grove Estate will include a convenience retail centre and onsite laundry; communal gardens and a children’s playground; crèche, day care and after-care or supervised homework facilities; a furniture workshop so that residents can build or assemble their own flat-pack furniture on site; five-aside soccer fields and basketball courts, and a communal recreational clubhouse for all the residents. “We’re acutely aware of the need for affordable housing, so we’re delighted that our recent planning application in respect of Golden Grove Estate was

approved. We intend launching this scheme to market within the next month or two, and being in the ground before the end of the year,” said Amdec Group CEO James Wilson, at a sod-turning ceremony attended by the Executive Mayor of Cape Town, Alderman Dan Plato, earlier this month. “As the demand for housing in South African continues to grow, and our capacity to deliver housing is simply not able to meet that demand, I’m pleased to see the private sector playing their part and developing attractive affordable housing sites that also include a wide variety of attractive recreational spaces. I look forward to seeing the first of the 1,000 families move into their new homes soon,” Plato says. The Amdec Group isn’t new to the affordable housing sector. In 2007, it acquired 13 vacant office buildings in Doornfontein in Joburg, and redeveloped them to create an innovative and ground-breaking mixeduse precinct that provided affordable homes for 1,500 young families (or approximately 6,000 people). Wilson confirms that the Amdec Group will utilise its considerable skill and expertise acquired over 31 years in business to deliver an affordable housing estate that truly provides for the needs of the community. “Golden Grove Estate is exceptionally well-located within an established suburb, surrounded by residential homes and close to shops, schools and sports facilities, and transport nodes, making it easy to access on foot or via public and private transport. Golden Grove will also deliver exceptional safety and security, convenience, amenities, and energy efficiency, significantly enhancing the lives of those who live there,” he says. “As a proudly South African company, the Amdec Group is deeply committed to redressing the injustices of the past. To this end, we’ve established a fully-fledged Affordable Housing division which is going to be responsible for building, owning, operating, and managing our affordable housing stock in perpetuity to ensure that housing is made available to those who need it most,” says Wilson.

New estate for Constantia’s high-end buyers W

ith Constantia showing significant top-end buying activity, a new contemporary boutique estate in the sought-after Hohenort pocket in Cape Town is set to further pique the interest of local and foreign buyers.

According to Lew Geffen Sotheby’s International Realty’s Upper Constantia team, they have had keen interest in top-end properties from locals, foreigners who are mostly swallows, and investors who are already, or are looking to become, permanent residents. “Propstats data reveals that for the year to date, there have been five sales of homes priced above R20m in Constantia Upper, with the highest sale price being R53m for a home in Silverhurst Estate, which sold for 10.2% less than asking price,” says team member Jacque Fourie.

look forward to. But they have to hurry. This exclusive estate with 24-hour security, consists of only four doublestorey designer homes built to European specifications. Fellow team member Joanna Thomas, says: “Developments in Upper Constantia have always followed a more traditional architectural style, but the Belgian developers, Square Turn Developments, wanted to create something completely new and cutting edge with Botanica at Hohenort.” The homes’ light and bright contemporary design features are offset by natural wood and stone finishes with the ground floor living area opening up onto the expansive private outdoor entertainment area and plunge pool.

“There were also 12 sales in the R10m to R20m price band, two of which sold for full asking price while the others sold for an average of 7.9% below the marketed price.”

“Each fully-automated home also features top-of the-range security and easy-living technologies with energy-saving features throughout and landscaped, water-wise indigenous gardens,” says Thomas.

With construction about to start on Botanica at Hohenort, buyers in this category have a few more options to

The homes are fitted with many ecofriendly and sustainable features, including insulated roofs and ground

floor slabs, water-based under floor heating, intelligent lighting and energy control systems, grey and black water recycling, rain water harvesting and an integrated water heating system with solar supplementation. “Buyers continue to be attracted to Constantia as there are very few areas in the country which offer the same stability and unique drawcards,” says team member Rouvaun McKirby. “Although only 20 minutes from the city, the historic tree-lined suburb not only has gracious homes with large gardens but also offers country living in a setting of vineyards, wine estates and rolling hills against the backdrop of Table Mountain. Stretches of protected greenbelt and kilometres of biking and hiking trails as well as a number of well-maintained parks make the area a playground for the outdoor enthusiast. Botanica at Hohenort is marketed exclusively by Lew Geffen Sotheby’s International Realty with prices starting at R26m plus vat (no transfer duties apply).

GET MONEY IN YOUR POCKET AND A PROPERTY IN YOUR FUTURE

Scan QR code for a free tax consultation.

Invest in our Eaton Square development and get a

100% tax break

12 J Property