The Cape property market remains extremely attractive for high-net-worth buyers. Properties are relatively cheap by international standards and, with the City’s record of good governance, there is less concern in terms of currency stability, civil unrest and service delivery. As such, many are happy to spend up to R25m or beyond.
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Arnold Maritz, Co-Principal of Lew Geffen Sotheby’s International Realty, says that there has been a notable increase in the interest in lifestyle properties – from luxury holiday homes to small game or wine farms and exclusive estates which are often utilised for upmarket enterprises such as boutique hotels, spas and sanctuaries. This is despite economic and political challenges.
Overall, South Africa still boasts pockets of resilience and growth potential, and burgeoning sectors such as renewable energy and tourism offer ample opportunities for entrepreneurial ventures and career advancement. And, with lifestyle and climate being the cornerstones and key drivers of the most active sectors, many locals and foreigners consider the country to be an ideal destination for a holiday, a retreat, an adventure or even convalescence or medical treatment.
Maritz adds that Cape Town has also become a popular destination for digital nomads who earn foreign currency whilst enjoying the city’s lifestyle, especially during the summer months.
“Within the past year, our office has brokered numerous sales to HNWI foreign buyers who purchased homes in excess of R20 million, and we’re inundated with enquiries from upcountry buyers looking for residential and business premises, including lifestyle properties in areas like Constantiaberg.”
Verdant enclave
One such property is a stunning 14-bedroom manor situated in Zwaanswyk, a verdant enclave which consists of only 123 residential stands of up to 5 000m² and boasts great views over False Bay and the Hottentots’ Holland and Constantiaberg mountain ranges.
“This is a very special property comprising six north-east facing buildings set on four acres (16 180m²) of established gardens with three swimming pools,” says Dawn Bloch, Area Specialist for the group.
“It is currently being run as Stillness Manor Boutique Hotel & Spa but it’s also the ideal premises for a medical retreat, lifestyle sanctuary, retirement village or even as an expansive private residential estate.”
On the market for R85m, the property also boasts an array of features including a tennis court, a borehole, a new irrigation system, 10 geysers and 4 new heat pumps and parking for 22 cars.
“Properties like this seldom come onto the market and we’ve had enquiries from local and foreign buyers who have very innovative business ideas for such a unique offering,” says Bloch.
South Africa still offers an inimitable lifestyle and good value which is driving interest in lifestyle properties, such as this Zwaanswyk estate.
Tranquil country lifestyle
Constantiaberg has long been an aspirational residential and tourism area for locals and foreigners because it offers the best of both worlds – a tranquil country lifestyle with every modern convenience and a host of world-class amenities.
“The area offers something of interest to everyone, from award-winning wine estates and restaurants, spas and wellness centres to an array of experiences such as picnics, festivals, golf courses and greenbelts that have hiking, horse riding and mountain biking trails. And, of course, several stunning beaches including the renowned Boulders Beach, home to the African Penguin, are just a short drive away.”
The area is also very popular with local and international enthusiasts of The Cape Town Cycle Tour, The ABSA Cape Epic Cycle Tour and The Two Ocean’s Marathon.
