A stylish new sectional title development is planned for Cape Town’s Vredehoek.
Units at The Belair are currently priced from R2.65 million for a one bedroom, one bathroom, to R8.995 million for a three bedroom, three bathroom penthouse - click here to view.This is according to Ryan Greeff, director of Greeff Christie’s International Real Estate City Bowl, who says hot on the heels of The Bradwell, where eight out of nine units were sold within the first seven weeks of launching, The Belair is developer Mason’s latest boutique development offering.
Comprising nine luxury units, Greeff says The Belair will offer residents contemporary design and luxurious finishes.
Specifications include engineered wooden floors, Nobilia Line-N German imported kitchen cabinetry, Ceasarstone countertops and Miele hobs, ovens and extractors. Solar panels, air-conditioning and heated towel rails will also be included.
“The views will be spectacular, thanks to the location on the lower slopes of Devil’s Peak,” says Greeff.
“Residents will enjoy easy access to the city’s exceptional amenities and attractions, be able to dine at sought-after restaurants and cafés, shop at the V&A Waterfront, and relax at world-renowned beaches, all a few minutes from their doorstep.”
“The views will be spectacular, thanks to the location on the lower slopes of Devil’s Peak,” says Greeff.He says Vredehoek is currently enjoying a healthy demand, with many of the suburb’s older buildings receiving a facelift in recent years.
“The suburb has received a boost with the restoring of several of the older blocks to their former glory,” says Greeff’s co-director, Marthinus Botha, adding that Vredehoek is perfectly located for those wanting or needing to be close to the city - without being right on top of the hustle and bustle.
“According to Propstats, the average selling price of sectional title apartments in the R3 million and above category has grown by 14% over the past twelve months when compared to the twelve-month period preceding that,” says Botha.
He says high demand has also shortened the average time spent on the market from 33 days, (the average listing time between August 2014 and August 2015) to only 20 days - the average listing period recorded by Propstats for sectional title apartments in the Vredehoek area over past twelve months.
Specifications include engineered wooden floors.“The past twelve months have also seen an increase in serious buyers,” says Greeff.
He says this is reflected in the narrowing of the differential between the average asking price and the average selling price of properties, which is down to only -2.2% from -5%, recorded in the 2014 to 2015 period.
Botha says there is also a very high demand for rentals in Vredehoek, and luxury apartments in the vicinity have been known to achieve yields of between 5% and 7% of the purchase price.
“This makes The Belair a particularly notable investment opportunity,” he says.
Comprising nine luxury units, Greeff says The Belair will offer residents contemporary design and luxurious finishes.Units at The Belair are priced from R2.65 million for a one bedroom, one bathroom with open-plan kitchen and living area, totaling 58sqm, with two allocated parking bays.
The top asking price is R8.995 million for a three bedroom, three bathroom 173sqm penthouse with three parking bays.
Other options include two bedroom, two bathroom units and two bedroom, two bathroom units with an additional guest toilet and balcony, priced from R3.995 million.
No transfer duty is payable.
To view the development, click here.
