07 Jan 2013
The property adage “location, location, location” applies across the board - locally, regionally, nationally and internationally.
Therefore, the best locations in the best areas in the wealthiest countries grab the headlines and attract the highest prices.
Hein Pretorius, principal of Sotheby’s International Realty in Plettenberg Bay, says the same property in one location can be worth a fraction of the price in another location. – This fact opens up possibilities for those looking to spread internationally in their property search.
“For example, high-end properties in South Africa’s best locations generally compare very well in terms of finish, price and location with similar properties elsewhere in the world."
He says there are a few points regarding location that should be considered when buying property internationally. The correct location or positioning of the house on the site is a critical value-adding factor.
Aspects such as views, light and climatic conditions must be accounted for in design. In the southern hemisphere, homes should be north facing and vice versa in the northern hemisphere. Homes need to be cleverly designed so that views are not compromised and the design should also account for local social, weather, and soil conditions.
Pretorius says in Plettenberg Bay, maximum value comes from excellent sea views, direct beach access, a northerly aspect (which conflicts with the easterly sea view), sheltered outdoor entertaining areas to accommodate outdoor social lifestyle in all weather conditions, privacy, specialised foundations if located on sandy soil, good security and good damp proofing (to account for winter rainfall and coastal conditions).
A home that combines these requirements is a five bedroom mansion on Robberg Beach that is for sale for US$7.525 million.
Pretoruis says this home compares well in terms of value with similar properties in other sought-after beach resort community locations around the world, including those in the Caribbean, Florida and California in the US, Marbella and Majorca in Spain, and Bantry Bay, Camps Bay and Clifton on the Atlantic Seaboard of Cape Town.
The most expensive home currently for sale in SA is Enigma Mansion in Camps Bay, which is priced at R300 million or US$34.7 million.
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