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The Covid-19 pandemic has been a boon for the super luxury housing markets worldwide according to a recent article on mansionglobal.com.
It shows that global luxury home markets achieved record transactions during 2021 as HNWI (high-net-worth) buyers reaffirmed their confidence in bricks and mortar, says Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl.
South Africa’s premier housing market, the Atlantic Seaboard and City Bowl mirrored that with a dramatic bounce-back last year, reaching some of the highest sales volumes in five years.
We are particularly pleased to see that the City Bowl’s top end suburbs such as Tamboerskloof, Oranjezicht and Higgovale are attracting more HNWI buyers who are investing millions in homes in this new luxury enclave, he adds.
These are some of the fastest growing suburbs in the country. Propstats data shows that property transactions worth over R2 billion have been concluded over the last year. Around 20% of sales have been above the R5 million price mark.
At The Ridge Estate in Tamboerskloof, 1000sqm vacant plots have reached prices over R16 million and demand has been such that the estate is nearly 50% sold out.
Not only has the estate attracted the highest values ever, but Levin says purchasers are showing massive confidence in the development, area and country and are constructing substantial houses, ensuring that this development is going to truly be a leading estate.
The Ridge Estate is set to further lift the top end super luxury price ceiling, he says. It is one of only three luxury housing estates available to buyers in the Atlantic Seaboard and City Bowl. Three houses are currently being designed by some of SA’s top architects and are set to be worth upwards of R50 million.
The advantage of getting in early is that you can benefit from tremendous growth likely to be associated with property in the estate, says Levin.
The estate is attracting local and international buyers with a lot of interest from Johannesburg. It occupies a prime location, elevated on the slopes of Lion’s Head. There are 25 plots, all of which enjoy spectacular views of the city, harbour and surrounding mountains. It offers quick access to the CBD, Waterfront and Atlantic Seaboard, great schools and is close to the University of Cape Town. There is also easy access to the Table Mountain nature reserve for biking and hiking.
The architectural guidelines set up for the estate are not overreaching and have been adopted to ensure harmony among the homes and protect the view lines of each plot.
One of the key trends to emerge from the pandemic according to an article in financialexpress.com, is that luxury buyers now look for a healthy lifestyle and closeness to nature. Here too, The Ridge Estate delivers as it boasts eco-sensitive building and indigenous landscaping to complement the top class design of the estate guided by one of the country’s top architectural firms, SAOTA (Stefan Antoni).
There is no doubt that a completed and established Ridge Estate will become one of the most sought after addresses in Cape Town, concludes Levin.
For more information, visit https://theridgeestate.com/.
Syndicated content from Everything Property