Prices for some top of the range homes holding firm

30 November 2012

 Recent newspaper and radio commentary on the Cape Peninsula residential property scene have indicated that sales of top level homes in the traditionally sought after enclaves of Bishopscourt, Constantia, Upper Claremont and Kenilworth have slowed almost to a standstill - and the prices have dropped by as much as 40% on the highs of 2007/early 2008.

This gloomy picture, says Lanice Steward, MD of the Cape estate agency Anne Porter Knight Frank, is not wholly accurate.
“Our own figures show quite clearly that sales in these areas, particularly in the price range of R5 to R7,5 million, have been holding firm,” she said.  “It is also noteworthy that some homes above R10 million are still finding buyers, many from Gauteng.  The market is by no means completely moribund.”
Certain top-of-the-range homes, says Steward, have characteristics and qualities that appeal immediately to potential upcountry and international buyers - and these, she says, will usually be sold within six to twelve months of coming on the market.
One such, says Steward, is a R25 million seven bedroom six bathroom home set into a 1-in-4 slope on the hillside above Groot Constantia and bordering the Table Mountain reserve.
Marianne Price and Fleur Lee, the APKF agents handling the sale, say that in all their experience they have very seldom come across a home with more internal space.  The three level house, in fact, has no less than 800m2 of floor area and the erf on which it is sited measures 6 244m2.
The four north facing living, dining and reception rooms, says Price, have extensive aluminium framed side-sliding windows and glazed doors and these open out onto some 25 km of mountain and vineyard views.  Finishes in the home include semi-polished Italian porcelain tiles, beechwood cupboards and black granite tops in the kitchen, which is exceptionally spacious, says Price, and is probably the most upmarket feature of the entire home.  
Another very attractive feature of the home, says Lee, is that many of the rooms have their own private balcony or small courtyard.
“Most of the garden is lawned and where there are plants and shrubs they are usually indigenous,” says Price.
A large pool with a long water slide is situated on the northern side of the home.  The garages are big enough to take two or three motorcars and provide workshop space.
“This home epitomises everything that Constantia can offer the demanding buyer wanting to live and experience the vineyard/equestrian/mountain walking lifestyle,” says Price, “and the views from it are among the best of any in the entire Constantia precinct.  On a clear day you can see across to the Hottentots Holland mountains.”
For further information contact Marianne Price on 082 775 2777 or Fleur Lee on 082 443 9133.