What R50 million buys in Joburg vs Cape Town vs Durban
Pam Golding says it has significantly increased sales volumes – units sold – in the R20 million to R50 million price band by 33% over the past year.
PGP said that sales in the R10 million to R20 million range increased by 13%, while in the R5 million to R10 million, sales were up 20%.
“In line with national demand, the bulk of our sales are in the price band up to R5 million, with 43.6% between R1 million and R3 million, the property group said.
In R3 million to R5 million range, it grew sales by 12%, and the price band from R1 million to R3 million was up 12%.
In the luxury market, during 2014 and based on a price band definition of R12 million and upwards on a sampling of some 130 such residential property transactions in areas around South Africa in which the group operates , Pam Golding said it sold more than a third.
With a surge in the top end range, BusinessTech identified three homes for sale on Pam Golding’s website in Gauteng, Cape Town and KwaZulu-Natal, which come close to R50 million.
There are several properties listed in Gauteng and in the Western Cape which are priced at around R50 million and above, however, in KwaZulu-Natal, the best priced properties are located on the North Coast, at around R40 million.
Cape Town
For R47 million, one can purchase a 6 bedroom home in Llandudno. The property includes 4 bathrooms, 3 garages, a brand new large double volume cellar | conference room and gym plus staff quarters. It also includes a hi-tech security system (alarm, perimiter beams, cameras and Verifier.
The size of the building is 1,425 m², and comes with R10,000 in rates and taxes, while your bond repayment is approximately R422,871 p/m
Gauteng
On can buy a swanky 3 bedroom apartment in Sandown for R49.8 million.
The penthouse suite has sweeping and uninterrupted views in the centre of Sandton CBD, and includes wireless internet, gym, heated indoor pool and outdoor pool, 3 storerooms, 1 lock-up garage with space for 6 cars. It also has state of the art security with 24 hour concierge.
At a size of 573 m², this apartment comes with rates and taxes of R10,500 per month, with levies priced at R37,000 per month.
KwaZulu-Natal
R38 million buys a 5 bedroom house in Zimbali, overlooking the Indian Ocean. While this house has no 24 hour concierge, it offers far more value for money per square metre:
2,918 m². Its rates and taxes and levies are far more manageable at R2,000 per month and
R5,184 per month respectively.
South Africans investing offshore
Pam Golding said that the past year has seen South Africans increasingly looking to diversify their investment portfolios through offshore property as well as capitalise on residency opportunities through Portugal’s Golden Visa Programme.
To date almost 100 South Africans have already bought a property through us in Portugal ranging from the required Golden Visa investment threshold of €500 000 to over €1.5 million.
Most buyers are looking to the sought after area of Cascais, referred to as the Portuguese Riviera, and Lisbon, due to the many regeneration projects transforming the city.
It noted strong sales in Seychelles and Mauritius too.
International Buyers
Pam Golding said that residential sales to international buyers remains low as a percentage of total sales – being approximately one percent for South Africa as a whole, and three percent for Pam Golding Properties for the past 12 months.
In order of priority the top 15 countries making property acquisitions in South Africa through PGP are the UK, Portugal, Germany, United Arab Emirates, Zimbabwe, Namibia, USA, Netherlands, China, Australia, France, Nigeria, Sweden, Belgium and Switzerland.
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