Faced with recent setbacks to the economic recovery and with inflation hovering close to the mid-point range of the inflation target, as widely anticipated, the Monetary Policy Committee’s stance remains supportive of the economy by keeping the repo rate at near five-decade lows (3.5%). This means the prime interest rate holds steady at 7%, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

“Given the underlying weakness and uneven recovery in the economy, market commentators ahead of today’s announcement included a call for the first hike to be delayed for as long as possible – even until 2023, depending on inflationary pressures and any potential shift in the inflation target.

“From a housing perspective, the prevailing low interest rates have undoubtedly bolstered market confidence, coupled with favourable lending conditions seeing both average (trailing effective) and first-time buyer approval rates rising further in August (2021), increasing to 82.6% and 81.2% respectively, according to ooba.

“Moreover, after increasing in Q4 2020 and Q1 2021, deposits as a percentage of purchase price are again declining, with average and first-time home buyer deposit rates converging at around 7% in August, while the overall approval rate for 100% home loans rose marginally in the same month to 82.8%. (Source: ooba)

“According to the Pam Golding Residential Property Index, while national house price inflation continues to lose momentum as economic growth slows in Q3 2021, easing from a peak of 5.2% in May to 5% in August, the sub-R1 million price band continues to enjoy uninterrupted growth, averaging at 5.8% for the year to date (to August 2021).”

“Bucking the national trend, the Western Cape is the only major regional market in which house price inflation continues to accelerate, with house price inflation averaging 5.8% during the year to date, compared to 4.7% in both Gauteng and KwaZulu-Natal.

“In addition, according to Lightstone, the coastal price premium versus non-coastal homes continues to widen, reaching 2.9% in May 2021 (latest data) and averaging at 2.2% for the year to date, compared to just 0.2% in 2020.

“According to ooba, the average price of homes sold rebounded in August, rising to R1.4 million overall and R1.13 million for first-time buyers – the latter approaching January 2021’s record high.

“Notably, at R113 billion, the total value of residential property transfers in South Africa during the first half (H1) of 2021 was 35.4% above H1 2019, while units were 12.3% higher at approximately 114 000 (Lightstone data). This robust improvement from pre-Covid levels of activity underlines the ongoing resilience of the country’s housing market, underpinned by consistent demand for correctly priced homes across all price bands, particularly the sub-R5 million category – but also including luxury residences,” concludes Dr Golding.

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The Cape lifestyle with its natural scenic attractions, wide open spaces and good schooling, retains an emphatic stamp of approval from ‘semigrators’ seeking a more appealing and healthy way of life, which this region offers in spades, says Annien Borg, MD of Pam Golding Properties in the Boland and Overberg.

Says Borg: “Home buyers who are semigrating here tend to emanate mainly from Gauteng and KwaZulu-Natal, but also from the Eastern Cape and elsewhere in the Western Cape, with a smattering from other provinces such as Limpopo.

“There is no doubt that the lockdowns have contributed to this ongoing trend, as many have re-evaluated their lifestyles, and, further enabled by the ability to work from home, have prompted them to make the move. Here they can step out for a hike or if a coastal town, go to the beach, with easy access to cycling routes, good restaurants and wine farms which offer open air dining, food markets and plenty of children’s activities. They can also enjoy the benefits of living in a close-knit community, with lots of activities for a newbie to join in and feel they belong.

“People semigrating here may currently reside in areas with high walls where neighbours are hardly visible, whereas in a smaller area like Onrus the little coffee truck is where everyone gets together after a morning walk, and on the cliff path neighbours stop to chat or go for a walk together. Children can cycle or walk down the road to friends or meet each other on the beach for a quick game of touch rugby, swim in one of the pools or walk the dogs. There are many social clubs including quiz night at a local restaurant, art classes, book clubs or sports clubs like golf, hiking and tennis, to name a few.”

Borg says lifestyle and affordability play a significant role when it comes to outlying areas such as Robertson and Montagu. “Here we find an older age group looking to retire – either now, or as a leisure getaway with a view to retiring here in the future, and therefore seeking good amenities, a reputable hospital – such as the highly-rated hospital in Robertson, and affordable homes where the cost of living is lower. They also want to be part of a smaller community where they can enjoy the natural surroundings, but still be accessibly situated within two hours of Cape Town. These areas offer good value for money where you can still purchase a three-bedroom home on a 1 071sqm plot for around R1.5 million and a vacant stand in Silwerstrand Golf & Lifestyle Estate just outside Robertson for R370 000. In Robertson a three-bedroom home can be acquired for under R2 million.

“Similarly, on the renowned Whale Coast, Hermanus and Onrus are attracting a range of home buyers from young families to those wanting to retire along this beautiful coast, close enough to Cape Town for adult children to visit for weekends and holidays, and with medical facilities, like the new oncology unit in Hermanus, as well as good schools such as Curro, just some of the major attractions. Hermanus and Onrus offer a selection of properties from well-run secure estates, like Hemel-en-Aarde and Fernkloof Golf Estates, to sectional title units and homes with sea or mountain views. Vacant land can start from R600 000 in the Onrus/Vermont area and can range up to R10 million for a seafront location – versus Hermanus where a 2000 sqm seafront plot recently sold for just over R24 million. In Hermanus sectional title homes start at R800 000 going up to R16 million for seafront apartments, while freestanding homes can start at around R2.5 million and range up to R50 million,” adds Borg.

Commenting on the peaceful villages of Betty’s Bay, Kleinmond, Pringle Bay and Rooi Els, which are all situated in the heart of the Kogelberg Nature Reserve – a UNESCO-proclaimed World Heritage Site, Pam Golding Properties area manager, Nicola Lloyd, says the UNESCO status prevents the expansion of the village boundaries. “The villages have ‘hard’ boundaries beyond which no residential development is permitted, which means that new development can only be infill, with vacant land becoming increasingly difficult to acquire as prices rise. Simultaneously, the urban environments form part of the Kogelberg Biosphere urban conservancy which means certain guidelines exist to encourage residents to develop with sensitivity – planting indigenous plants and grasses, limited subdivision, no street lights and limited tarring of residential roads to protect the environmental quality of the towns. This means we have a limited supply of homes, and quality control in the environment, setting us apart from other coastal villages on the west coast and further north on the east coast.”

Lloyd says there is high interest in seafront property, which, ranging from R7 million up to R18 million, is more competitively priced than comparable frontline Garden Route homes. “There is also a high demand for established homes in the R3 million price range. In Kleinmond our sales are mainly in the R1.5 million to R2.5 million price band, while high end sales in Bettys Bay and Pringle Bay range from R4.5 million to R7 million. In Pringle Bay – with its vibrant village centre, and in Bettys Bay we are also seeing high interest in vacant land, which is increasing in price as the supply of available stock decreases.

“A better-quality lifestyle, access to open space or more spacious homes, plus the ability to work from home are the main reasons for home buyers relocating to these villages, coupled with the fact that proximity to Somerset West and Hermanus allows many who work in offices to commute, with school buses to Hermanus catering for children’s education.”

In the heart of the Cape Winelands, the character-filled towns of Paarl and Franschhoek attract a number of buyers from Gauteng and KwaZulu-Natal, says Surina du Toit, Pam Golding Properties area principal for Paarl, Franschhoek, Wellington and Grabouw. “A lot of home buyers move to Paarl and surrounds for the excellent schools, while others are drawn by the secure estates and the great lifestyle, as well as the easy access to Cape Town. Buying across all price ranges for relocation or purchasing an investment property to rent out and relocate to later, or buying a plot to build on in the future, some of these semigrators have businesses elsewhere and also look to open a branch in our areas as well, or even start a new business.”

Louise Varga, Pam Golding Properties area manager in Stellenbosch, Somerset West, Gordon’s Bay and Strand, also notes increasing enquiries from semigrators relocating to these towns from major cities such as Pretoria, Johannesburg, East London and Cape Town. “While this has been an ongoing trend as the Covid-19 pandemic has drawn attention to the benefits of coastal living, combined with the ability to work from home, security is high on their list of priorities. Sound investment, beautiful surrounds, convenient amenities and for the younger families, excellent schools, are all factors taken into account by our home buyers. It’s also generally more affordable here than Cape Town, with secure property options across a wide range in Somerset West, Gordons Bay and Strand.

“For a sense of small-town community, big city convenience, and the attractions of the Cape Winelands on tap, and with schooling and proximity to Stellenbosch University, Somerset West has it all, while offering better value for money than comparable homes in Cape Town. For Gordon’s Bay home buyers, the mesmerizing views to Simons Town and panoramic mountain backdrop are simply the icing on the cake. In Stellenbosch, the value lies in the beautiful setting, outdoor living, recreational activities offered and quality lifestyle.”

Adds Varga: “Most of our enquiries are from new families looking to relocate for a better standard of living or for business purposes, as well as singles and couples, while we also have buyers acquiring student apartments in Stellenbosch and retired couples who want to be near grandchildren or buy a home with sufficient space for visitors. Security estates are popular, and generally we find our enquiries and sales are from around R2.5 million to R4.5 million and upwards.

“As a student town, Stellenbosch has over the years proven a sought-after destination, with a residential property market which has shown ongoing resilience to price fluctuations. It offers the best of both worlds – country living, but close to the city and all its amenities, while excellent schools and student accommodation in a stable environment are further drawcards. A broad variety of quality properties are available, catering to all requirements from retirement villages and an array of security estates to established, peaceful suburban areas with larger erven and a wide variety of new developments and student accommodation attractive to investors and for students to occupy – being priced mainly between R2 million and R3.3 million.”

Varga says there’s a broad price range catering for residential property buyers in Stellenbosch, Somerset West, Gordon’s Bay and Strand, ranging from R800 000 to R2 million for sectional title units and between R3 million and R5 million for houses – with the most popular price range for standalone suburban homes from R4 million to R7 million, to security estates, where popular price ranges are for homes from R3 million to R4 million, and from R8 million for more upmarket homes.”

Further afield in the scenic Overberg, Pam Golding Properties area principal Le Roux van der Merwe says this region, which hosts well-frequented holiday towns like Gansbaai, Greyton, Witsand, Swellendam and the Garden Route towns along the N2 around Stilbaai, offers semigrants exceptional value.

Says van der Merwe: “In Gansbaai we are seeing semigrants from all over the country who perceive that this area offers good value for money and is a great place to live, while enjoying the benefits of working from home in a safe environment with good, well-maintained infrastructure, numerous attractions, clean air and great beaches. Such is the demand that we are experiencing unprecedented growth in this town, with an increasing shortage of vacant stands to build on.

“We believe this ‘zoom town’ is about to become a boom town as homes are being renovated and the municipality and private investors are busy with the final planning for a new hospital and additional retirement accommodation in the town. While a private hospital, it will also have government beds and be accessible to all, and it is also anticipated that this hospital development will have facilities for post operative recovery in the form of sub-acute accommodation and potentially, frail care facilities on site. This development will add around R100 million to the local economy.”

Approximately 30 minutes from Hermanus and two hours from Cape Town, renowned for its whale watching and pristine beaches and home to the southernmost golf course in Africa, Gansbaai already has quality shops, restaurants and service offerings, and the increased activity is driving more businesses, says van der Merwe. The scenic route via road between Hermanus and Gansbaai is currently being improved to cater for the already increased traffic flow and also to improve safety.

Pam Golding Properties markets homes and commercial properties in Gansbaai across all price ranges, from R1.6 million to R1.8 million for an average family home, to an average of approximately R4.5 million to R7 million for a seafront home. Says van der Merwe: “Our listings including seafront properties which offer sound value, especially when compared with Cape Town and the larger, better known coastal towns. Recreational activities are many and varied, from fishing and bird watching to horse trails, dune rides, MTB routes and shark diving boats to even wine routes.”

For further information visit www.pamgolding.co.za or email headoffice@pamgolding.co.za

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On the back of recent events, which have shown how ordinary citizens from all walks of life and entire communities have rallied and come together in an exceptional way to clean up and assist individuals and businesses in need, positive potential lies ahead for Durban, says Mohammed Amra, Pam Golding Properties area principal in Durban.

“We are seeing the public and private sector working together to help stimulate economic recovery and growth in Durban and the province, while Transnet is planning a R100 billion expansion and upgrading of the Durban Port, and Phase 2 of Dube TradePort is already well under way.

“From a property perspective, the central city area – particularly in the City Hall and Samora Machel Street (formerly Aliwal Street) area is rapidly becoming a student hub, with large office buildings being converted and reconfigured into sectional title residential apartments particularly well suited to student accommodation.”

Amra says this is underpinned by the fact that the city of Durban has an abundance of educational institutions such as MANCOSA, Damelin, Damelin Correspondence College Campus, University of KZN, Durban University of Technology, Central Tech College, MSC College, Durban City College and Thekwini College, among others.

However, there are still many people, including a younger generation, who work in the city for the likes of government departments such as the police services and hospitals, or recruitment, transport, clinics and call centres.

Says Amra: “With many people now working from home or relocating to smaller offices in areas such as uMhlanga, this has opened up redevelopment and investment opportunities to take up the vacuum. In addition, some residents have moved from the CBD to acquire homes in the Essenwood/Musgrave areas.

“While most of the owners and operators of these conversions are major investors who charge a rental of around R3 000 per student, providing the bed and study table plus communal dining room, TV room and laundry facilities according to university specifications, there remains a market for individual investors who acquire one to three-bedroom flats to let out to students.”

As Amra elaborates: “We are currently marketing a prominent commercial property in Durban – the 19-storey Escoval House, which is completely vacant and ideal for conversion to student accommodation. We are currently marketing Escoval House, together with two other adjacent buildings, for a combined price of R160 million, which adds to the potential for redevelopment. Another well-known landmark building, 320 West Street (Dr Pixley Kaseme Street), has already been converted to residential use.

“In Saxony House in Samora Machel Street, we are also currently marketing a bulk unit of 19 separate flats, comprising 10 one-bedroom and nine bachelor units, for R6.5 million. The building includes an elevator, 24-hour manned security including burglar bars and security gates, and cellular coverage.”

Sectional title dominates

Over the past 10 years, the central Durban area, which comprises mainly sectional title units (97.5%), has achieved price growth of 51.1% – comfortably beating Durban’s overall average price growth of 40.2%. Prime positioned North Beach, which comprises almost entirely sectional title units (99%), slightly outperforms the central city, with growth in prices over the past decade of 57.6%.

Says Sandra Gordon, Pam Golding Properties senior research analyst: “The median price of sectional title homes in central Durban has risen steadily over the past decade, currently averaging R420 000 for units sold across the market in 2021 to date. Both activity levels and prices in the inner city housing market remained resilient despite the pandemic and the repeated lockdowns.

“Notably, with just over 40% of all recent buyers being young adults, this age profile suggests that many first-time buyers have purchased homes in the area during the past 12 months (August 2020 to July 2021).

“In the Point area, where 98.3% are sectional title homes, the age profile of existing homeowners and recent buyers is very similar to the pattern seen in Durban Central, with 46% of recent buyers aged between 18 and 35 years.”

Adds Gordon: “In both areas, a quarter of existing owners are retirees, while the largest cohort of new buyers are young adults, suggesting that there is a clear demographic shift in the housing market in Durban Central and surrounds as students and first-time homeowners take advantage of the new residential units released onto the market as a result of the ‘post-Covid’ redevelopment.”

Amra says for savvy investors, prices of apartments in the central city offer good value for money. “For example, near the City Hall, you’re looking at between R250 000 and R400 000 for a bachelor unit, while in Samora Machel Street which runs into the Esplanade, a one-bedroom unit without parking can fetch approximately R450 000 to R500 000. In Prince Street, Pam Golding Properties recently sold a 95sqm, two-bedroom sectional title apartment for R575 000 for cash to an investor who renovates and resells units. Meanwhile, on the Esplanade itself, for a bachelor unit you’d pay R300 000 to R400 000, between R500 000 and R800 000 for two bedrooms, and from about R800 000 for three bedrooms.

“Investors who buy to let often achieve sound returns of 7-9% per annum, with one-bedroom units generally renting for between R5 000 and R7 500 per month, two-bedrooms between R6 000 and R10 000, and three bedrooms from R7 000 to R13 000, depending on the location.”

Says Elizabeth Daniel, Pam Golding Properties agent in central Durban: “As conversions become more common and the demographic in the central city changes, with more young people moving there, the commercial element of the city will also change, with takeaways, entertainment venues and small shops superseding large department stores and sit-down restaurants – naturally once the lockdown regulations ease.

“Most of this rejuvenation is taking place as a result of confidence in the city centre by private investors, who are not only improving the buildings but also the surrounding areas in order to make them more attractive as residential destinations.”

Says Amra: “In the Point Waterfront area, which is an ideal ‘zoom’ location, being a secure, self-contained village with a clean beach, promenade and restaurants, there is good value available, with one-bedroom apartments priced from just under R1 million/R1.2 million to R1.6 million, two bedrooms from R1.9 million to R2.5/R2.6 million, and three bedrooms from R3 million to R9 million.

“The Point Waterfront attracts a range of home buyers from young professionals and investors for holiday letting to leisure buyers seeking holiday homes, including those from further inland in KwaZulu-Natal.”

Unlike Durban Central and The Point, in the North Beach area mature buyers accounted for the largest percentage of recent buyers (38%), as well as existing homeowners (38%), while a further 26% are pensioners. Gordon says price performance in North Beach has been relatively strong, with increases of 15.3% over the past five years and 50.8% over the past decade. The median price of R890 000 recorded in 2021 to date is the highest seen over the past 10 years.

Says Amra: “North Beach is home to some highly sought after and prestigious apartment blocks, such as Malington and Maluti, good examples where a two or three-bedroom unit can sell for as high as R3.5 million in the former and R5 million in the latter. These apartment blocks are also in demand among Gauteng buyers seeking second or leisure homes. Currently, we are marketing a couple of apartments in Maluti with sweeping ocean views, each priced at R5 million.”

In the upmarket Musgrave/Essenwood areas, while sectional title units dominate the market (78.4%), there are more freehold homes compared to the above areas and although young adults are not the dominant age group among recent buyers, they do account for almost a third of recent buyers, says Gordon. “Prices have performed well over the past decade, with freehold properties gaining 72.8% over the past 10 years and sectional title homes increasing by 36.4%.”

Amra says prices of apartments in these areas can range from around R1.2 million to R1.7 million for two bedrooms and houses from R2.5 million or R3 million up to R10 million. “At present we are marketing two brand new, fully-fitted apartments each priced at R5.5 million, well situated just off Musgrave Road in Springfield Road.

“In addition, we are marketing a brand new 24-unit residential development, 748 on Musgrave, with spacious three-bedroom units priced from R5.85 million and R7.35 million, with double garage included.

“Over and above this, we are experiencing a high demand for homes in Cowey and St Thomas Roads, while oher sought-after areas include the trendy and vibrant Florida Road hub, with its eclectic mix of buildings and array of eateries and entertainment, and nearby Innes Road.”

Adds Amra: “Another trend we are seeing in relation to the smaller student housing market is for investors acquiring large, old houses and garden cottages for conversion to student accommodation. These may be situated in areas such as Glenmore, Umbilo, Carrington Heights, Glenwood and Bulwer.

“These areas also tend to be popular among young families because of the size and value for money on offer as well as access to good schools. In upper Glenwood where homes are immaculate and huge, there is also good value to be had with three to four-bedroom houses often selling for approximately R2.5 million.”

For further information contact Pam Golding Properties 031 3086700 or email durban@pamgolding.co.za.

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Multinational companies moving into Nairobi’s new Garden City Business Park

With its modern, flexible workspaces and landscaped courtyard areas, the newly completed, Grade A ‘Garden City Business Park’ in central Nairobi, Kenya, is attracting large multinational companies, including the likes of East African Breweries which is a subsidiary of Diageo, one of the world’s largest producers of spirits and beer, says Kunaal Samani, MD of Pam Golding Properties Kenya.

Now Pam Golding Properties has concluded the lease for an entire block comprising 105 163 square feet of office space with CCI Kenya, which is part of the global CCI Group – providers of business process outsourcing in the mobile technology, telecommunications, financial services, retail, and leisure sectors.

Says Shaif Sharif, head of sales for Pam Golding Properties Kenya: “CCI needed a large expanse of space for their regional headquarters and this was ideal, custom-fit, all in one building, complete with high-speed elevators. Their representatives from the US and South Africa came to view the property to ensure the brand fit was right, and they liked the building aesthetics with generous floor to ceiling height, high quality finishes, technological systems and natural lighting and ventilation as well as good parking ratios. They also favoured the surrounding supply of residential properties for staff to reside in, catering for varied budgets.”

Conveniently located off the Thika Superhighway, only 20 minutes from the city’s CBD and easily accessible from Jomo Kenyatta International Airport, another plus for tenants is the quick five-minute walk to Garden City Mall, with over 100 shops including restaurants, bars, cafes and entertainment facilities, including a cinema. For those who live at Garden City Residences, you can walk to work and pop home for lunch or visit the gym.

Says Sharif: “Currently comprising two office blocks, with potential for further development to meet future demand, only 10% of space remains available in Garden City Business Park.

“Notably, Covid-19 has not impacted the demand for office space in this upmarket new development, which is the only Grade A commercial property in the environs. As a result, enquiries are brisk on the remaining available space as tenants are seeking a better fit-out than the average in the area. The adjacent Mall and residences are a plus and highly appealing for those setting up shop in the business park, which is also facility-managed by Pam Golding Properties.”

Commenting on the market in general, Shaif says: “A trend we are seeing in the marketplace in Nairobi is the conversion of standalone residential units to commercial spaces. There is a big uptake of serviced offices, the supply of which has also increased, catering for the high demand. This is due to the new trend towards working in smaller silos, with business owners appreciating the benefits of using a fully fitted, serviced office with all amenities, especially if they are working in smaller groups and mostly online. They can rent per desk space and have monthly or even weekly contracts.”

For further information contact Shaif Sharif, head of sales for Pam Golding Properties Kenya on +254 20 2370090 or email shaif.sharif@pamgolding.co.ke .

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One of the noticeable trends in the residential property market this year has been a discernible uptick in demand for luxury homes in the R10 million plus price band – a sector where freehold properties have enjoyed an increase in demand, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

“Much of this demand has been driven by local buyers who have identified specific areas of interest and understand that the current market, characterised generally by motivated sellers and well-priced stock, presents opportunities which offer exceptional value for money.

“In regard to freehold homes, these have clearly benefited from lockdowns and the shift to remote working, experiencing 6% price appreciation since the start of the year (Jan – April 2021) compared to 3% for sectional title homes. (Source: Lightstone).

“That aside, generally we find that in the apartment living genre, penthouses are highly sought after and due to their nature, limited in supply and as a result yield very good returns on investment, in our experience enjoying a premium of some 20-25% over other apartments in the same building. They are luxurious and spacious – usually with the very best finishes and features such as large windows with abundant natural light, expansive patio and private swimming pool and importantly, offer privacy, often with their own elevator and entrance. Penthouses, such as those in Cape Town’s V&A Waterfront, can fetch up to R40 million and above.”

Dr Golding adds: “Apart from local purchasers, in Cape Town’s sought-after, conveniently located Southern Suburbs, for the year to date the buoyant Constantia high-end market, with its open space, sprawling wine farms and close proximity to private and government schools, has been mainly driven by buyers from Gauteng and KwaZulu-Natal.  We’ve also seen a notable increase in demand for properties listed above R10 million on the Cape’s globally renowned Atlantic Seaboard, particularly prime real estate in upmarket Camps Bay and Clifton, where recent high-end transactions concluded by our agents extend to homes achieving individual prices of R70 million.”

In Plattekloof in Cape Town’s Northern Suburbs, Pam Golding Properties area principal Pierre Nel concurs: “Typically, luxury residences recently sold include freehold houses in security and lifestyle estates or more spacious homes in areas such as Plattekloof, where upmarket Baronetcy Estate with its modern, new-build homes in a secure, gated community is proving popular. Prices of sales which we’ve concluded in Baronetcy Estate range from around R10.5 million to in excess of R60 million. Interestingly, we’ve also noted an increase in demand from UK and American buyers in our area.”

Secure estate living ticks all the boxes for many home buyers on the Cape’s Western Seaboard, where Emarie Campbell, Pam Golding Properties area principal, cites Atlantic Beach, Water’s Edge Estate, Waterstone Isle and Sunset Links as popular among such buyers, offering highly appealing, luxury living in a secure environment.

Says Campbell: “Atlantic Beach Estate with its links golf course and relaxed lifestyle, and Water’s Edge Estate with modern architecture and a convenient lock-up-and-go lifestyle right on the beach with magnificent views of Table Mountain and Table Bay, resonate with family and other buyers seeking a secure way of life in attractive surrounds. Noteworthy sales in the R10 million+ price band include three between R12.5 million and R15 million in Atlantic Beach Estate, three in Water’s Edge Estate between R11 million and R16.5 million, three in Bloubergstrand for R15 million, as well as a home right on the beach in Melkbosstrand which was purchased for R15.5 million. We have recently brought in new inventory and the enquiries have been most encouraging in the price range hugging R10 million.

“On the Western Seaboard, secure estate living in this price range is sought after and very limited the closer you get to the beach, with no further land available for new developments, so the sooner you secure your home the better.”

In Gauteng, Lambert Bezuidenhout, Pam Golding Properties area principal in Steyn City, says heightened activity in the upper price band has been more of a catch-up than a recovery, having been stifled by the stringent lockdown measures. “The majority of our sales are around the R20 million mark for completed houses, with sales of over R35 million and upwards not uncommon. However, while land is still available from just over R3 million, many purchasers then make a further capital investment in luxurious high-end homes which may ultimately enjoy a market value of up to and in excess of R60 million. Of our 14 highest recent sales, all except one were to South African buyers.

“Covid-19 has brought with it the notion that we might be living with it for some time to come, which implies that lockdowns and ‘work from home’ will affect a significant portion of the high-end buyer population. As a result, we’ve seen a trend towards larger properties – even in apartment sales – to accommodate the work from home way of life. Lifestyle estates such as Steyn City, with its diversity of homes, offer an abundance of outdoor space, facilities and activities, which also greatly enhances apartment living. Buyers believe that if they are going to be in lockdown, it should be in a space that facilitates some form of normality.”

In Johannesburg’s exclusive Northern Suburbs such as Sandton, Richard Smith, Pam Golding Properties area manager based in Hyde Park, says sales transactions for freehold, primary residences above R10 million up to R30 million and above have been achieved in Sandton suburbs such as Sandhurst, Westcliff, Bryanston, Morningside and Hyde Park.

In Durban North in KwaZulu-Natal, Pam Golding Properties area principal for Durban Coastal, Carol Reynolds says some buyers who are seeking privacy and palatial homes prefer freestanding mansions because they are not governed by the restrictions that arise in gated communities. “For this reason, half our sales concluded with high net-worth buyers comprise large freestanding mansions. As the suburb itself is secured by multiple security patrols, with large homes and expansive gardens, upper Durban North continues to attract affluent purchasers who seek privacy above all else. Estates are always popular, but often size and height restrictions limit options for the mega-wealthy who prefer to have freedom of choice in terms of size and design.”

In uMhlanga, Gareth Bailey, also a Pam Golding Properties area principal for Durban Coastal, says movement in this upper price bracket has been split equally between sectional title schemes on the beachfront or within gated estates, and freestanding homes not within estates.

Says Bailey: “Certainly the trend is towards gated estates and sectional title, especially on the front line of the beachfront. It really comes down to a lifestyle choice for buyers. Areas where homes in this price segment are particularly appealing are Izinga Estates on uMhlanga Ridge, Signature Estate in Sibaya and Hawaan Forest Estate.”

Further north in the Ballito area, in Zimbali Coastal Estate and Simbithi Eco Estate, homes frequently change hands for well in excess of R10 million and even north of R18 million, says Farrah Williamson, the company’s area principal. “Some of our recent transactions include homes sold for R19 million in Zimbali and R22 million in Simbithi.”

In Kloof, in Durban Metro’s Upper Highway area, a recent sale by Pam Golding Properties was a home in the sought after Kloof Golf Course area, which was acquired for R10.5 million.

According to Gordon Shutte, Pam Golding Properties area principal in Knysna and Plettenberg Bay, activity in the upper end of the market remains robust, with higher demand particularly in the ‘sweet spot’ between R10 million and R15 million. “Factors contributing to the ongoing demand include semigration from the major metros, as well as the high scenic and lifestyle appeal in our towns. In this regard the demand is for freehold properties, especially for security estates where the price is consistently higher. While most of our buyers are South Africans, we are seeing the return of overseas purchasers for retirement or second homes, most recently from Germany and Israel.”

Stephen Murray, area principal for the company’s Mossel Bay office says: “We have seen sustained growth in residential property investments exceeding R10 million in a number of areas, which in turn continues to further stimulate investor confidence in the area as a whole, as well as specific estates and suburbs. Activity in the higher price brackets has definitely been busier than the previous five years, with prices creeping up steadily and investor confidence resulting in bigger homes being built in a number of estates in the area, investing R10 million and more over and above the plot purchase price.”

Adds Murray: “Mossel Bay’s high-end market – and especially lifestyle estates and other freehold homes with open space around them – is attracting a balanced mix of buyers purchasing for primary residence, some for leisure and others buy-to-let. Of great appeal are Pinnacle Point Estate, Village-on-Sea, Mossel Bay Golf Estate, Springerbaai Coastal Eco-Estate and Gondwana Game Reserve.”

For further information visit www.pamgolding.co.za or email headoffice@pamgolding.co.za

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If there is one insect on the planet that needs an ambassador, it is the honeybee. And just in time. As their numbers are threatened across the planet and their foraging fields shrink in the face of rampant development, they are desperately in need of a voice, a champion.

Farai Chinomwe is a Rasta, a Zimbawean musician and long-distance runner. It was highly unlikely that their paths would ever converge but for one serendipitous night. In a break in a concert, Farai’s band discovered a swarm in one of their drums. ‘A bad omen,’ they said, ‘This is surely a sign we will be prevented from prospering…’ But Farai saw it differently. ‘Better to have the bees and honey,’ he argued.

The overwhelming sense that he needed to save this small colony came from deep within him. ‘I grew up in the rural village of Masvingo near the Great Zimbabwe ruins. My parents were very traditional and saw so much of our culture disappearing. They danced for tourists to keep awareness of traditions alive and taught me about why we should learn from people of various cultures.’

‘We walk everywhere, you know, us Zimbaweans. To make fire men must walk to find wood and sweat to cut it down … and so you learn about survival. We are also taught that Nature has a spirit. When I saw those bees… I thought they needed to live just as we do. I asked for their protection, their guidance.’

The band never got their drum back but Apis mellifera, the honey bee got their wingman.

While Farai makes music with nimble fingers, he is blessed with the sleek frame of a runner. He’s completed several Comrades Marathons and the Two Oceans Marathon but needed to draw attention to the plight of his adopted species. That took a chance incident and a little reverse engineering.

‘My car broke down in Johannesburg one day and I could not push it up a hill with all my strength. As a last resort, I turned around and found that I could push the car if I faced backwards. I began to work on my quads and strengthened them enough to run a Comrades backwards to raise awareness of the plight of bees.’

He plunged himself into learning about their habits, their life cycle, and what pesticides and predators were killing them off. If we were to thrive, they needed to live.

It was the beginning of a remarkable journey.

Today Farai runs through the streets of Johannesburg and rather than the runner checking his Fitbit for performance, Farai watches out for water metres where bees cluster or for the swarms that are often exterminated as a nuisance. Having founded Blessed Bees Africa, he now has people saving single bees from their swimming pools rather than killing them as ‘stingers’ or indiscriminately raiding their hives for honey. He intervenes. He speaks. He spreads a narrative of respecting what Nature gives us without reserve – and that it is time that we returned the gift.

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If Hanli Prinsloo dived from the rocks wearing her customary long-blade fins and blue close-fitting neoprene a few thousand years ago, ancient mariners would have living proof of mermaids. They would see a dark-haired siren, beautiful, lythe and who in a nano second was gone from their sight, leaving only a ripple in her wake. And they would wait. It might be as much as six minutes before she playfully surfaced and by then, convinced she was half fish, half woman, they would be bewitched. As we are today for other reasons by this formidable woman.

For 20 years, Hanlie has free dived, training her body to fight the impulse to breathe at depths of up to 64 metres.

The answer to why she does it, is not what you might hear from many professional sportsmen and women who run solo across a desert, climb Everest with no oxygen, or walk a tightrope over a 450 m canyon. Extreme sports can often be solitary pursuits perhaps to conquer fear, create a super-human brand or for the thrill, the showmanship, the dare.

For Hanli, it is different, and she shares this with a handful of men and women who push their personal limits for a greater cause.

She is an ocean conservationist and dives underwater to make a critical and remarkable connection with aquatic wildlife, draw our attention to the fragility of our blue planet.

In one blog she says ‘How long do you need to be down for an oceanic manta ray in Ecuador to start accepting your presence? How many turns and twirls and shimmies before a dolphin wants to play at depth?’ These are questions only she can answer and is what draws audience after audience to her inspirational talks.

And then there are sharks, and the primordial fear we have of them. The odds are astronomical. Years after Jaws became a blockbuster, author Peter Benchley expressed his deep regret at how sharks were portrayed largely as a result of the movie. Today between 50 and 100 million of them killed every year. ‘No-one appreciates how vulnerable they are to destruction,’ says Benchley.

One freediver does.

Hanli writes about her dive off Aliwel Shoal on the East Coast of South Africa: ‘I took a final big breath and kicked down, hanging suspended at depth I waited and watched, when suddenly there she was. Seven meters of pure muscle, graphic stripes running down her sides and a square jaw. A large tiger shark. With slow swishes of her long tail fin she slowly cruised over…’

Hanli becomes our braver alter ego as she comes face to face with the ocean’s most successful predators but as she writes about the experience, and the shark’s calm curiosity, we feel the first signs of unease. It is the creature who is at risk, not us. We continue to misread behaviour and it is the Hanli’s of our world who strive to correct our course.

From a young girl who swam with her sister on their farm dam and played at being mermaids, she left for Sweden after school and grew to love the sport of free diving. Today, she has become an aqua-ambassador of the deep with her I AM WATER Foundation, and has been selected as one of the World Economic Forum’s Young Global Leaders.

‘Freediving is so much more than a sport, she told journalist Martinique Stilwell, ‘it is a lifestyle – an approach to living on this planet.’

Fifty years ago, scientists believed the human body could not survive a dive beyond 48 metres. Hanli regularly dives deeper but it is not a race to the bottom for her. It is a journey to bring two worlds together.

The ancient sailors may have been right. There is something tempting about a ‘lady of the sea’ and slipping into the magical world she can share with marine creatures. It just takes that first deep breath…

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The only way to grasp the magnitude of Dr Emmanuel Taban’s contribution to our lives and to do justice to his remarkable journey in this short blog article, is to create a script for a documentary condensed into a series of visual frames. It would make no sense at all to simply show a snapshot of a boy of 16-years-old fleeing for his life from civil war in South Sudan, and then cut to a tall, smiling man in cap and gown graduating with top honours as a medical doctor and who is now a leading pulmonologist in South Africa. It is too much of a stretch, too wide a chasm without a mosaic of images.

Our first scene opens with the image of a bright, energetic boy with an enquiring mind, from the small village of Loka Round in South Sudan. We see him foraging in the bush for flying ants and locusts mashed with the ashes of pumpkin leaves and eaten with relish, a much-loved grandmother guiding his survival skills. We cut to his mother, divorced, raising Emmanuel and his siblings with every ounce of her strength and ingenuity. They are subsisting, this small family, but there is a peace to the scene. The soundtrack is laughter, his mother’s chiding at his antics, the bleating of goats and running feet in the dust. They are Emmanuel’s feet. He runs errands. Runs to school. Runs to play soccer with a makeshift ball. Runs to buy bread and return with his cache. He has a kinetic energy, coiled and released on everything he tackles.

He pours over schoolbooks with intensity, sucking up knowledge as if it was his very lifeblood. This is a scene that hints at the future. A glimmer of the scholar and medical specialist he will one day become, but as in all films, there is foreboding to the scene. His path from village to international recognition as a doctor cannot be smooth. No script will allow a story to unfold without conflict. And it comes. The scene shifts to destruction, opposing military forces, Sundanese against Sundanese, child soldiers, the burning of huts, the greed of politicians.

The boy Emmanuel is barely in his teens when we see him detained and tortured, bamboo wedged between his fingers, which are crushed until he cries out … but he will not confess to their accusations that he is a spy. In his flight away from his torturers and conflict, we see Emmanuel alone on the road, walking up to 40 km per day, using the bush lore he learnt as a young boy to survive off the land and escape wild animals. But as we see in scenes to come, it is not the bush predator he should fear, but his fellow humans.

This is an ingenious boy, a dragonfly flitting from one opportunity to another, making just enough to survive and move on. He has no papers, a boy stripped down to his will to survive and his quest for knowledge. He is hungry for days at a time, a step away from death. In a single spoken sentence, we hear why he is so driven. What if, like so many of the boys who were sent to fight and never returned, he was to die at the roadside, discarded, perhaps given only a makeshift grave or eaten by hyenas and his bones scattered? He will not accept this obscure fate. It is this indomitable spirit that will carry him thousands of kilometres south, closer and closer to the final scene at the height of a global pandemic where he will make his mark.

Emmanuel meets strangers who rob him of his last pennies. He meets strangers and finds kindness and shelter. He finds rejection in family who might have eased his way, but acceptance, compassion and generosity in the Catholic missionaries who see in this bright spirit what could be.

In this broken journey, Emmanuel remains true to his single most powerful belief; that education is the only way forward, the only way upwards.

From his home in South Sudan to South Africa, an 18-month journey through the borders of six countries, he is at times a ghost of a boy whose family were to discover only much later that he’d survived and thrived. He would ultimately return to South Sudan to introduce them to his bride-to-be and their first-born child.

There are moments at every stage of Dr Emmanuel Taban’s journey that are heart-stopping. There are moments so near to disaster that it seems impossible he would escape unscathed.

But for now, there is one more chapter.

At the height of the Covid-19 pandemic and as a leading pulmonologist, he performed bronchoscopies on patients who were hanging by a thread to their lives. Dr Taban believed his intervention would work, controversial, and against the usual ‘protocol’ that it was. To date dozens of patients owe their lives to him, this driven man who walked Africa to save them, a man who believes that passion, determination and education underpins his success. To that we may add what all doctors swear to uphold: ‘to respect the hard-won scientific gains of those physicians in whose steps I walk, and gladly share such knowledge as is mine with those who are to follow.’ This is his gift to us all.

Dr Taban’s book The Boy Who Never Gave Up: a refugee’s epic journey to triumph. (Jonathan Ball Publishers) has been republished twice this year.

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While correctly-priced homes in the lower price bands in sought after Cape Town suburbs such as Plattekloof and Edgemead in the Northern Suburbs, and Western Seaboard areas of Blouberg and Big Bay continue to sell rapidly, strong demand is now also fuelling robust activity in the middle price range in these areas, says Pam Golding Properties.

Says Pierre Nel, Pam Golding Properties area principal in Plattekloof and Edgemead: “In Plattekloof, while the demand is greatest between R3.5 million and R5 million, the market up to R8 million is active, with buyers still making reasonable offers, and mostly comprising families who are selling their existing properties below the R3 million mark and upscaling to more spacious accommodation as they are now working from home.

“Notably, prices have stabilised and need to be market-related in order to sell because if the property is over-priced, purchasers are hesitant to enter offers. The bulk of our buyers are locals, many relocating to the suburbs from sectional title apartments in more built-up areas or moving and settling in Cape Town from other surrounding areas and provinces as they are able to work remotely.

“Those semigrating move to the Western Cape for its appealing lifestyle, and our Northern Suburbs offer a family-oriented lifestyle with excellent amenities and are easily accessible to Cape Town central city. These areas are ideal for working remotely, with sunny, family homes affording peace and quiet.”

Nel says areas which offer excellent value and potential for sound capital growth include Edgemead, Bothasig, Welgelegen, Panorama and Plattekloof.

“In value-for-money Edgemead, sales are brisk mainly between R2.3 million and R3 million. Between R2.3 million and R2.5 million you can acquire a three-bedroom home with two bathrooms, while from R2.5 million upwards you are looking at three to four bedrooms with a study, double garage, swimming pool and entertainment areas.

“At the higher end of the market, we’ve sold a few properties above the R7 million mark in Plattekloof and upmarket, sought-after Baronetcy Estate.”

On the Western Seaboard, Pam Golding Properties area principal Emarie Campbell says correctly priced properties under R3 million sell within 30 days.

“We’ve experienced a stock shortage since we came out of the hard lockdown in June 2020. The laid-back lifestyle, scenic views, access to beaches and recreational locations, feeling of space, minimal traffic and good infrastructure, all make the Western Seaboard a very inviting permanent residential destination.

“The stock shortage experienced is a result of a diminished flow of homes coming onto the market, however, as the third wave of Covid-19 recedes and international travel resumes, we anticipate more inventory becoming available to purchase. From a supply and demand perspective, now is the time to put your home on the market as it’s currently a seller’s market. That said, buyers reject over-priced properties and snap up correctly-priced homes.”

Campbell says with their magnificent views of Table Bay and Table Mountain and access to the beaches, both Blouberg and Big Bay apartments are always in demand. “In these prime locations, beachfront apartments with views, two bedrooms, and two bathrooms trade well up to R2.5 million and can comfortably reach R3.7 million, sought after by investors, single owner occupiers and those seeking holiday homes. Some of the older apartments needing refurbishment can be picked up at around R2 million.”

In Parklands, apartments with two bedrooms and one bathroom enjoy good activity up to R1 million, taken up by owner-occupier, first-time buyers.

Adds Campbell: “There’s also a high demand for homes within security and lifestyle estates, where homes with three to four bedrooms and three reception rooms with good entertainment space, fetch between R4.5 million and R7.5 million. The old adage of ‘buy the worst home in the best area’ applies here – when you find the extra funds, make the improvements and you will certainly achieve a good return.

“Although most of our home buyers are from the Western Cape, security estates and apartments are in demand among upcountry buyers, with Pretoria being the dominant semigration source. Approximately 60% of our purchasers are buying for a lifestyle change, 20% for pure investment, and those buying for retirement and other reasons 20%.

“At the top end of the market, Atlantic Beach Estate remains highly sought after with sales priced between R6 million and R10 million taking place as the stock becomes available.”

For further information contact Pierre Nel on 076 967 3766 and email pierre.nel@pamgolding.co.za or Emarie Campbell on 083 601 0822 and email emarie.campbell@pamgolding.co.za .

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Launched in mid-June (2021), over half the homes in the brand-new, boutique luxury residential development, Olde Cork Farm in the exclusive neighbourhood of Upper Constantia, Cape Town, have already been sold by Pam Golding Properties. The spacious, freestanding, four-bedroom homes are priced from R8.5 million, including VAT, with no transfer duty payable.

“Exceptionally well-priced for this prime, sought-after location in Klein Constantia Road, surrounded by vineyards, fields and forests, we have already sold seven of the 12 luxurious homes – with ongoing interest for the balance being received on a daily basis,” says Arie Kadé, Pam Golding Properties agent in the area.

Situated in Cape Town’s Southern Suburbs, Constantia is an affluent suburb renowned for its beautifully appointed and gracious homes and expansive gardens surrounded by nature walks and vineyards, making it an ideal, tranquil location for raising a family away from the congestion of the city.

Says Kadé: “A new development of this size has not been launched in the Constantia Valley for many years, which is one of the reasons it is proving to be so popular. This is coupled with the appealing design and prime location, within walking distance of vineyards, green belts and wine farms. The development was also carefully and correctly priced to meet market demand.

“Properties in Constantia have historically held their value because of all it has to offer – its open spaces, country lifestyle and ambience, all which create ongoing demand for the area. The value offered and being close to excellent schools and all amenities add to the appeal and as a result, Constantia is one of the more desirable suburbs in South Africa in terms of price appreciation .

Adds Pam Golding Properties agent in Upper Constantia, Kim Tresfon: “Purchasers to date are local cash buyers from Cape Town, as well as Johannesburg, from 30 upwards and spanning the generations. We have seen a marked increase in buyers looking for estate living with 24-hour security in beautiful surroundings – basically all that Olde Cork Farm has to offer. I think people appreciate the quality, the design and the value it offers.

“Developed by Mason, who brought to market landmark, ‘The Glengariff’ in Sea Point, these contemporary, curated homes celebrate elegant living, with close attention paid to the unexpected detail that makes a home beautiful as well as timeless.

“The developers have chosen an architectural design that not only embraces the spectacularly scenic landscape, they have also created interiors which trigger an immediate emotional connection to the home.”

Kadé says one of the key advantages of Olde Cork Farm is that there is no requirement from the developer for a specified sell-out value for the project when you purchase, which means no delay in commencement of construction, so you could see your house completed in less than a year.

Some of the features include Oggie flooring throughout the living areas, a wood-burning fireplace, ceiling fans, Hansgrohe mixers, marble countertops and splashbacks, carpeted bedrooms, borehole and irrigation, solar heat pump hot water system, built-in gas braai, 24-hour security plus guardhouse, electric fence and alarm system, among others. Optional extras are a salt-chlorinated swimming pool and battery back-up system.

For further information contact Pam Golding Properties’ Arie Kadé on 083 448 0488 or Kim Tresfon on 079 881 5105.

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Given the vulnerability of South Africa’s economy in the wake of last week’s unrest, as anticipated, the Monetary Policy Committee adopted an accommodative approach by deciding to keep the repo rate steady at 3.5%, which leaves the prime rate at 7%, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

“That said, a reduction in the repo rate would have provided some relief to individuals and businesses impacted not only by the effects of the lockdown and recent events, but also the increases in fuel and electricity costs and other utility tariffs.

“Against a backdrop of a weaker rand and upside risks to inflation, it is widely anticipated that the next move in interest rates will be a hike. While some analysts believe interest rates will begin to rise later this year, the consensus view is that the current economic headwinds will delay the first hike until early-2022.

“Encouragingly, as things generally settle down, and despite the more stringent lockdown regulations currently in place, we are seeing a continuance of activity for correctly priced homes across the various price bands – which naturally varies according to location and market demand – and which is hoped will gather momentum as economic sentiment improves in general. The ongoing demand for homes is particularly evident in the lower end of the market, with a roll-on effect upwards, and further fuelled by buyers capitalising on opportunities to make sound, value-for-money acquisitions.

“The resilience of South Africa’s residential property market continues to be illustrated in Gauteng, where activity remains robust. Undoubtedly, the Covid-19 third wave created an increasingly challenging trading environment, further exacerbated by the past week’s events, however, the market continues to respond well, especially to properties that are correctly priced – a trend evident across suburbs as well as in estates.

“In June (2021) we concluded a number of notable sales in the Johannesburg area, ending the month significantly ahead of a challenging budget. Furthermore, despite a slow start in July, we are seeing an increase in both enquiries and activity – including the sale of properties above the R10 million mark and across the various areas. This includes an offer to purchase a R17.5 million home in Bedfordview. In addition, what is positive to note is a general increase in enquiries for rental properties in this region.”

House price growth in June 2021

According to the latest Pam Golding Residential Property Index, national house price inflation accelerated to 5.2% in June. At +6.2%, the Western Cape is again the regional leader among the major provinces, followed by Gauteng at +5% and KwaZulu-Natal at +4.7%.

Says Sandra Gordon, Pam Golding Properties senior research analyst: “Growth in lower-end prices (below R1 million) continues to accelerate, reported at +7.6% in June. And although growth in freehold prices (+5.9% in the first half of 2021) continues to outperform sectional title (+3%), the gap has again narrowed as freehold price growth peaks and sectional title price growth continues to rise. Notably, the coastal house price premium widened to +2.5% in March 2021 after averaging at +0.3% in 2020.”

Adds Dr Golding: “According to ooba, the lending environment also improved in June, with higher approval rates and lower average deposits, while the average concession below prime declined to -­0.16%, which is the lowest registered since mid-2010. We have also seen evidence of two separate phases of demand for home loans during the pandemic – initially in the second half of 2020 from first-time home buyers – motivated by the low interest rates, and then later, in the first half of 2021, from older, repeat buyers responding to lifestyle changes amidst the ongoing pandemic and lockdown.”

For further information contact Pam Golding Properties on 021 7101700 or email headoffice@pamgolding.co.za or visit www.pamgolding.co.za

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By late-2020, activity in the residential property market in Nelson Mandela Bay Metropole had rebounded to around pre-Covid levels. According to Lightstone, strong house price inflation of 8% for January to February 2021 (latest available data) sees this city retain its place as the top performing metro housing market in South Africa. This even surpasses Gauteng East’s solid house price growth rate of 5.7% over the same period (graph attached).

Sandra Gordon, Pam Golding Properties senior research analyst says: “Since December 2019 NMB has outperformed relative to other metro housing markets. House prices in NMB rose by an average of 6.29% last year (2020), which is almost double the increase in eThekwini (at 3.26%) – the second strongest growth rate recorded last year, with robust growth in NMB house prices continuing into the new year.”

Says Justin Kreusch, Pam Golding Properties area principal in Gqeberha: “Notwithstanding the lockdown – including the initial hard lockdown – for the 12-month period from March 2020 to the end of February 2021, we’ve had our best financial year to date both in terms of sales turnover and volumes, namely units sold. This is despite the fact that due to the Covid-19 regulations we couldn’t trade during the latter part of March, April and May last year (2020).

“Some notable sales include a Summerstrand property that sold for R6 million cash prior to going to market, another Summerstrand home which fetched R10 million, and a home in Little Walmer Golf Estate which sold for R6.75 million. There has also been significant activity in the Beachview/Seaview area which is underpinned by a trend towards residing slightly further out of town, especially since it’s generally now widely accepted to work from home.

“That said, while we are active in the top end of the market, above R3 million, 86% of our sales are in the sub-R3 million price band.”

While residential property in NMB remains predominantly freehold, comprising 73.5% of total units, the composition of housing stock is experiencing a shift towards sectional title property and, to a lesser extent, estate homes, which comprise approximately 5.6% of the total. (The breakdown of home types within an estate is not available.)

To cater for the demand for affordably priced family homes ideal for work-from-home, a brand-new development, Mill Park Private Estate, conveniently situated in easy reach of Greenacres Mall, Greenacres Hospital, Collegiate Schools and Grey High School, has been launched. Says Kreusch: “Forty-five spacious, three and four-bedroom homes with open plan interiors and priced from R3.05 million offer the ideal option to work from home while children have their own space for homeschool or outside recreation – all in a secure environment and in close proximity to all amenities, including the Golf Club. To view visit: https://www.pamgolding.co.za/property-development/gqeberha-port-elizabeth/mill-park-private-estate

Adds Kreusch: “Over the past 12 months we’ve also seen an influx into the area of younger buyers, including young families and professionals, contributing to the fact that the majority of recent buyers were middle-aged or young adults.

“Areas which are most sought after among home buyers include Summerstrand, Walmer and Mill Park. On the other side of Cape Road, Mount Croix and Glendinningvale also remain popular as they offer similar convenience in terms of location, but in a more affordable price range.

“In the Western Suburbs, which offer easy access to the N2 and are in close proximity to Baywest Mall, the area of Lorraine, with homes priced up to about R1.65 million, is in demand among home buyers, with numerous businesses migrating here. A few years ago, Toyota relocated their main branch to Lorraine, with an investment of over R20 million, while Makro, which is already situated in the Western Suburbs, recently relocated their store further west to Bridgemead.”

Kreusch says all these areas are sought after due to their easy access to good schools and work precincts and, in the case of Summerstrand, proximity to the beachfront. For more accessibly priced areas it’s more about great value while not being too far from schools and shops.

“Currently, the market is experiencing a shortage of stock to meet the demand. This, coupled with the prevailing low interest rates, has created the perfect sellers’ market where buyers are competing for properties, which in turn has driven prices up.

“Furthermore, the low interest rates have resulted in plenty of activity from first-time buyers, especially in the sub-R1.2 million price range. With bond repayments on R1.2 million over 30 years being under R8 000 per month, it makes more sense to buy than pay a similar amount for rent.

“Positively, the city is seeing several key developments in Gqeberha, with the R500 million Boardwalk Mall extension having commenced, which should double the amount of retail space, and a further investment of some R200 million planned for a new hotel. In the old harbour, the decommissioning and moving of fuel tanks and manganese terminals to the Port of Ngqurha will make way for the much-anticipated Waterfront development. In addition, we note general improvements with roads being resurfaced and marked again, potholes filed and the backlog on the cutting and maintenance of municipal parks being attended to,” adds Kreusch.

For further information contact Pam Golding Properties in Gqeberha (formerly Port Elizabeth) on 041 373 9955 or email justin.kreusch@pamgolding.co.za.

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