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Steyn City’s City Centre recorded outstanding sales during the fourth quarter of 2021, with more than a quarter of the first phase units (187) including a penthouse selling in the three months since the development’s launch in October.
Steyn City Properties CEO Giuseppe Plumari informs that sales across all properties – freehold stands, cluster homes and apartments – totalling a quarter of a billion rand – helped Steyn City secure the best performance in 2021’s quarter four since its launch in 2015. This achievement was made possible because the parkland residence offers a full spectrum of homes, positioning it to appeal to a broad market, with different lifestyle needs and price points.
Andrew Golding, Chief Executive of Pam Golding Properties, notes that the economy has also played a key role in driving sales to this extent. “In many cases, people have disposable income which they would, in other times, spent elsewhere. Since the lockdown affected spending patterns dramatically, many have been able to change their living environment for the better.”
Of course, the impact of interest rates cannot be ignored: at a record 25-year low, 2021 was one of the busiest years experienced by the residential property market.
Plumari, meanwhile, is pleased by the market’s response to the new City Centre development: “When we started planning the City Centre, our intention was to create a very special way of life, facilitated by a development that offered facilities of a standard as yet unseen – our recently launched Ultimate Helistop and 300m beach-style lagoon are both cases in point. The unparalleled calibre of the development explains the rapid uptake of the homes – but I think that a large degree of the City Centre’s success may also be attributed to the new lifestyle ushered in by the Covid-19 pandemic.”
Plumari is, of course, referring to the ‘semigration’ trend and the rise of Zoom towns. Although these are most commonly located in quiet villages – often in picturesque areas like the coast – Steyn City’s location speaks directly to the common desire to live somewhere peaceful and scenic. Unlike many other Zoom towns, it has the added benefit of offering proximity to key urban infrastructure, such as the Fourways super-regional mall, Lanseria International Airport, and midway between Sandton, Midrand and Pretoria. Says Plumari, “The fact that we no longer have to commute into work is a significant driver in this regard. It’s changed the way we think about where – and how – we want to live.”
In pandemic times, that ‘how’ most often means feeling safe. Obviously, it helps to have a comfortable – in fact, downright luxurious – home, and the City Centre certainly fits this bill, with one-, two-, three- and four-bedroom homes, a selection of double storey three and four bedroom homes including features like private study, separate TV lounge, guest cloakroom, internal private lift and butler’s entrance and homes in the sky (penthouses). It all adds up to a cocooning environment, with ‘home’ becoming a pure pleasure – and the fact that it can be enjoyed with complete peace of mind enhances that ambience. The City Centre’s security measures include triple biometric access, which is additional to Steyn City’s round the clock foot patrols and 24/7 nerve security hub. Throw in the fact that each home is maintenance free, and it’s easy to understand the appeal.
Plumari adds that, long before Covid lockdowns and the advent of remote work, Steyn City had already put in place infrastructure that negated the need for long periods in the traffic. The AAA-grade offices at Capital Park and the Steyn City School campus are a case in point. The existence of other outstanding recreation facilities speak further to another trend brought about by the pandemic: When you are living and working in the same space, convenience is critical; as is efficiency. Features like fibre to homes answer the latter, while the extensive parkland on which the City Centre is located means that residents have 2 000 acres of space to wander and explore. This sense of space has been highly valued by residents, Plumari observes, as the feeling of restrictedness has played a large role in the development of issues around mental wellness. “Our homemakers appreciate being able to roam in a place where they know they are safe and can breathe – a priceless asset in today’s times,” he says.
Golding is confident that property industry’s upswing will continue into 2022, and remains optimistic about the outlook for the future of both the country and the property industry.
Plumari shares his positive attitude. “I think that our offering plays directly into what people are looking for – our extensive security measures are a case in point. But so too is the City Centre way of life. Our beautiful homes at City Centre can be compared to the condominiums so popular in the United States: although they have the maintenance-free appeal of a small home, they are exceptionally spacious, with their exteriors belying the size and volume of what you’ll find beyond the front door. This is precisely what our market is looking for.
“We are excited to see what this year brings following the success of the launch of Phase 1 of our City Centre and the confidence in South Africa: construction of phases two and three has already commenced and is expected to be complete by the end of 2024,” he concludes.
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