A look at the R16.5 million house in South Africa’s new estate hotspot

Update: The R16.5 million home in the Silwersteen Estate has been sold by Chas Everitt International.

A house in the popular Silwersteen Estate in the Constantiaberg area, which was on the market for R16,490,000, has sold.

The area is seeing interest from local and foreign buyers, with estate homes like the expansive estates being highly sought after.

The R16.5 million property was being sold by Lew Geffen Sotheby’s International Realty, Chas Everitt, Revo Property and Tyson Properties.

The property is set on a 2528 sqm erf, spans 484 sqm of beautifully designed living space, and has panoramic views over the Constantia Valley and the surrounding mountainside.

The open-plan living area is home to a double-sided wood-burning, while the hef-inspired kitchen is fitted with granite countertops, built-in cupboards, an under-counter oven, a gas hob, and an extractor fan.

Upstairs, the master bedroom has built-in cupboards, a dressing room, a full ensuite bathroom, and secure shutters for added privacy. Bedrooms 2 and 3 also have ensuite bathrooms and built-in cupboards.

The open-plan study with a balcony and built-in cabinetry that can be adapted to one’s needs. The home also includes a laundry room and a guest toilet for added practicality.

Outside, the property features a new saltwater solar-heated pool, landscaped gardens with floodlights, and a built-in braai area.

A store room provides space for garden tools and equipment, while the property also offers staff accommodation with a shower, bathroom, and kitchenette.

The property has a double garage with additional space for up to four cars.

When it comes to sustainability, the property has an off-grid solar system and borehole for reliable water supply.

Lew Geffen Sotheby’s International Realty said that Cape Town has become the preferred destination for country and foreign buyers with sales and property values surging since 2020.

However, it noted that the niche market capturing the most buyer attention is the secure lifestyle sector, especially in the Constantiaberg area, where record median prices are being seen.

“In 2020 our office saw a 40% year-on-year increase in sales, with a further 300% surge in 2021, a 200% increase in 2023 and this year is shaping up to be the same,” said David Burger and Stephan Thomas from Lew Geffen Sotheby’s International Realty.

“Demand has continued unabated since the end of lockdown when semigration resumed and more recently, with increasing political instability in Europe, there has been a surge in foreign buyers as well as returning South Africans and we’re also seeing more interest from American investors.

“Sotheby’s International Realty research has shown that at least 40% of the global workforce is now ‘location independent’ and the opportunity to live in harmony with the stunning natural environment offered by estates like Stonehurst, High Constantia and Silwersteen, is fueling keen local and foreign interest.”

The most active price band for properties on estates in the area is between R8 million and R12 million, and the most sought-after properties are those with additional accommodation for elderly parents or other family members, good views, and modern-quality finishes.

“Most buyers in our area are buying into the Cape Town lifestyle and the close proximity to a host of scenic amenities such as golf courses, mountain bike and hiking trails, beaches and sailing”

“They are also spoilt for choice as far as estates go as there are developments in the area to suit all lifestyle requirements.

“Estates such as Stonehurst Mountain Estate, where there are almost 300 homes on 100 hectares offer extended lifestyle facilities such as walking trails, mountain bike routes, gym, restaurant, swimming pool, bar, café, a children’s creche and meeting facilities for the community.

“These suit those with a busier, more energetic lifestyle and, although there is a greater security/access control burden, costs are shared more widely.”

With political stability since the general election and the suspension of load shedding for the future, Thomas and Burger expect this trend to continue unabated.

“The reality is that whilst South Africa has its problems, we seem to be turning a corner whilst people living in Europe are becoming more disenchanted every day with wars on their doorstep, uncontrolled immigration and cost of living increases.”

“And, with the lifestyle and comparative accessible pricing, it’s no surprise that South Africa, and Cape Town in particular, is becoming an increasingly attractive option.”

Images of the R16.5 million in the Silwersteen Estate property can be found below:

Read: Companies in South Africa waiting for ‘stars to align’