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Pretoria East lifestyle estate homes now hot property

30 Aug 2016

Pretoria East has become one of the city’s most sought-after residential destinations, offering buyers increasingly solid investment and rental returns across the board. However, the sector seeing the most growth is the estate market, which is booming as demand for secure properties climbs.

Situated in Silver Stream Estate, this home offers five bedrooms, four bathrooms, open-plan living areas, modern kitchen, built-in bar, a lounge with fireplace, swimming pool and garaging for four vehicles. It is on the market for R5.55 million - click here to view.

This is according to Juanita du Plessis, Estate Specialist for Lew Geffen Sotheby’s International Realty in Pretoria East, who says estate property values have shown steady growth since around 2010, but they rose substantially during the past year.

As a result, she says the median price in some estates is now double that of just five years ago.

Du Plessis says they’re also beginning to experience stock shortages, especially in developments offering excellent security coupled with first-class lifestyle amenities like Silver Lakes Golf Estate, where 115 sales were recorded in the 12 months between 1 July 2015 and 30 June this year.

Du Plessis says although the greatest demand is for estate homes in the R1.5 million to R2.8 million price band, these are now becoming increasingly scarce and buyers are willing to pay a premium for the added benefits of estate living.

“At Silver Lakes, investors can expect to pay around R2.5 mllions for a three bedroom sectional title unit, and while the average house price is between R3.5 million and R4 million, there are many properties priced between R4.5 million and R6 million. There are also homes in the ultra-luxurious R10 million-plus bracket.”

According to Du Plessis, location is a key pricing factor on estates, where the most sought-after properties are those nearest golf courses overlooking the fairways or in the most scenic natural settings.

This Stone Ridge Country Estate house has four bedrooms, five-and-a-half bathrooms, open-plan living, modern kitchen, pyjama lounge, study and double garage. It is priced at R4.35 million - click here to view.

She says they’re currently marketing three prime properties at Silver Lakes, two with fantastic views of the fairway as well as a luxurious house in the heart of the nature reserve.

While security continues to top the list of reasons that people choose to buy homes on estates, it’s not the only factor.

Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty, says lifestyle is also a significant drawcard and the most popular estates are those with recreational features on site, such as golf courses, gyms, tennis courts, restaurants, walking trails and parks where families can safely enjoy outdoor activities.

He says the most exclusive and sought-after developments are literally self-sustaining villages. Lombardy Estate, for example, not only offers beautiful surrounds with greenbelts, streams and wetlands that teem with birdlife, but also has a boutique hotel, a spa and an office park.

He says residents in these estates enjoy an exclusive lifestyle in an environment that gives respite from fast-paced city living, along with the peace of mind of controlled access.

Geffen says the prestige of an enviable address is also appealing to many investors, especially upwardly-mobile professionals.

This Silver Lakes Golf Estate property has three bedrooms, two bathrooms, open-plan spaces, fully-fitted kitchen, undercover patio, swimming pool and garaging for two cars. It is selling for R3 million - click here to view.

According to Du Plessis, there has been a marked increase in the number of buyers in the 35 to 45 age group who are more likely to be able to spend R3 million-plus on a home.

Conversely, she says there has been a drop in first-time buyers as the market boom has now placed most estate properties out of the reach of younger investors whose budgets seldom extend beyond R2 million, and they also require a substantial deposit and spotless credit record to be successful with their finance applications.

The exponential residential growth in Pretoria East in recent years has also spurred commercial and retail development to meet the demands of the rapidly growing population.

“Everything residents in the area need is now on their doorsteps, including new schools that were built to support the population expansion, and neighbourhoods attract a good mixture of young professionals and young families, with kid-friendly activities widely available.”

Additionally, Du Plessis says two major highways are only a stone’s throw away, allowing for easy commutes to Witbank, Johannesburg and Pretoria’s CBD.

This property offers four bedrooms, two-and-a-half bathrooms, open-plan living, country-style kitchen, study, garden with water feature and garaging for three cars. It is on the market for R5.6 million - click here to view.

She says a new R44 billion ‘nodal development’ is soon set to change the face of Pretoria East even more dramatically. Dubbed ‘the East City’, the Hazeldean Development master plan includes a residential area and 100 000sqm mall, as well as hospitals, a business park and hospitality and tourism components.

With several phases already complete, the suburban precinct also includes the construction of a new R90 million road, the PWV17, which will link the N4 and the R21.

Du Plessis says demand for security lifestyle accommodation is at its peak and, with housing shortages looming, this development offers buyers an ideal solution as a future investment.

She says the versatile housing options cater for everyone from young professionals to diplomats, including investment buyers seeking good rental returns and families.

And lifestyle quality will further be enhanced by Hazeldean’s focus on energy-saving mechanisms, greener ways of building and a high-tech communication infrastructure, she says.
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