The latest data by the Seef Property Group indicates significant price increases in golf estate homes, especially in Cape Town, following the COVID-induced property boom.
Also read: Cape Town property value outperforms the rest of South Africa
Golf estates have seen an average of between 8% and 10% growth following the pandemic-induced property boom, with some estates’ values doubling over the last five to eight years, Bizcommunity reports.
In Cape Town, the highest volume of golf estate sales has been in the R3 million to R14 million range, while high-end estates ranged between R6 million and R18 million – a few exceptional sales made it past R20 million.
Even rentals skyrocketed in high-end areas such as Constantia or the Winelands, where some golf estate homes raked in more between R60 000 and R100 000 per month.
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According to Bizcommunity, golf estates have become prime second-home destinations for both local and international buyers, including semigration buyers. These properties are reportedly achieving some of the highest prices in the country.
For example, Steenberg in Constantia now features a median price of R13.9 million as of this year, while the current average for Fancourt in George is about R8.4 million.
Estates such as Boschnmeer in Paarl and De Zalze in Stellenbosch have also seen prices doubling over the last decade. Most notable is a substantial number of sales above R20 million in the De Zalze Golf Estate last year. Now, the estate boasts a median value of R12.7 million, ranking it among the top golf estates in the country.
Furthermore, Sunset Links on the Blueberg side of Cape Town has a median price of R7.45 million, while Atlantic Beach Golf Estate features R6.1 million, placing both estates among the top in the country as well.
Among the most popular to date are Garden Route golf estates, including Fancourt. Although the estate has been regarded as the top of its kind in the country for quite some time, it only achieved a median price of R8.4 million over the past year.
Kingswood is reportedly attracting semigration buyers, boasting a median price of R4.65 million. According to Herman Spies, sales manager of Seef Mossel Bay, Pinnacle Point remains the most sought-after and scenic. With a median price of R4.1 million, the estate concluded deals of between R7 million and R9 million last year.
Following closely is Knysna’s Pezula with an average price of R5.5 million and Simola with R4.4 million – also top contenders with sales between R7 million and R11 million.
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