{"id":555464,"date":"2022-02-05T08:30:02","date_gmt":"2022-02-05T06:30:02","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=555464"},"modified":"2022-02-04T15:03:02","modified_gmt":"2022-02-04T13:03:02","slug":"10-luxury-estates-in-umhlanga-cape-town-and-pretoria-selling-for-higher-average-prices-than-their-surrounds","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/555464\/10-luxury-estates-in-umhlanga-cape-town-and-pretoria-selling-for-higher-average-prices-than-their-surrounds\/","title":{"rendered":"10 luxury estates in Umhlanga, Cape Town and Pretoria selling for higher average prices than their surrounds"},"content":{"rendered":"

Estate living is the fastest-growing luxury property trend in South Africa, and it is not uncommon for estates to achieve higher average selling prices compared to their surrounding neighbourhoods, says the Seeff Property Group.<\/p>\n

Luxury buyers continue migrating to luxury gated estates, driving property values ever higher, said Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl.<\/p>\n

“We have seen strong international demand, along with Johannesburg buyers who are used to secure estate living. We have also had local Capetonians buying as the estate is ideal for families who want space for their kids to play.”<\/p>\n

In the Cape, three of the top five neighbourhoods are gated estates which clocked up growth of 16% to 25% over five years. That is four to five times faster than the national average house price and CPI growth in 2017 to 2021. National growth for 2021 averaged just 4.6% according to Lightstone.<\/p>\n

Levin said this reflects the high demand for luxury security estates now evident in the market. Initially, the demand was driven primarily by the desire for security, but the pandemic has brought a major shift to lifestyle and access to safe open spaces.<\/p>\n

Estates have been among the best performing neighbourhoods with average price growth of up to 25% over the last five years. The latest Financial Mail Top Suburbs Survey also listed a number of luxury estates among their choice of best growth neighbourhoods over a one, three and five-year period.<\/p>\n

While the Cape (25% of estates) has fewer housing estates compared to Gauteng (over 50%), those located in the Cape, especially around the Cape Town metro seem to attract the highest average price growth.<\/p>\n

Cape estates also tend to achieve the highest rental rates. Seeff for example concluded a rental of R390,000 per month (paid in advance for the year), in a joint-deal in Val de Vie estates over the last year.<\/p>\n

Seeff looked at 10 top estates to invest in right now. These are based on outstanding price growth along with top-class security, leisure and amenities on offer, and proximity to urban and business centres.<\/p>\n

Most of the estates offer\u00a0lifestyle benefits such as open areas with hiking and cycling, leisure activities such as golf, tennis and squash and access to top schools making them popular with family buyers. Lifestyle estates are also popular for second homes, especially in coastal areas according to Seeff.<\/p>\n

10 top estates to invest in now include:<\/strong><\/p>\n

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