Property Market in Greenways Golf Estate in Strand
Property Market in Greenways Golf Estate in Strand
With False Bay bordering the Greenways Golf Estate along the most peaceful section of the Strand beach area and framed by Hottentots Holland and Helderberg mountains on the other side, every real estate option within Greenways offers some of the most spectacular views in the Cape. The carefully maintained private 9-hole golf course and garden areas provide residents with ample open public spaces, whilst still offering a sense of community. Greenways Golf Estate is monitored by 24-hour integrated state-of-the-art security, giving residents and their guests the freedom of enjoying the facilities as well as swimming, walking, jogging or cycling around the estate with total peace of mind. Facilities include a Clubhouse with a swimming pool and tennis courts, a restaurant and bar area, as well as conference facilities. During the whale season, from June to November, residents can watch the antics of these gentle giants from their own balconies.
Greenways Golf Estate also benefits from its ideal positioning close to two of the best golf courses in South Africa, Erinvale (10 kms) and De Zalze (20 kms). It is located within 20 minutes of a plethora of wine farms, where one can enjoy wine tasting or sample food at gourmet restaurants. It is also less than 10 minutes from a regional shopping centre and 45 minutes from some of the best universities (Cape Town and Stellenbosch) and restaurants (Cape Town and Franschoek) in South Africa. Nearby Strand also boasts an Olympic sized, centrally heated swimming pool, which is open all year round. For those who enjoy hiking, the Helderberg Nature Reserve can be explored and enjoyed regularly, being only 10 km away.
Over the last four years, there has been a steadily growing interest in the lifestyle Greenways offers. The fact that, in 2014, the average sale price for freehold properties within Greenways was R2,9 million and that this year people can buy two of the very last vacant beachfront erfs in a golf estate within the Cape Town metropole for R2,5 mil and R2,6 mil, makes this one of the best value-for-money secure seafront lifestyle opportunities available in the Western Cape.
There are 240 houses in Greenways Golf Estate and 518 apartments in 4 sectional title complexes. Property sales in Greenways Golf Estate have been showing a steady increase, with 40 registered sales in 2014 (about 3,5 sales per month) compared to the 18 registered sales achieved during 2010. The registered sales for the first quarter of 2015 had been 8 transactions - 2 apartments in Golf Beach (R740 000 and R980 000), 3 own title homes (between R2,4 mil and R3,45 mil) , 1 apartment in Bermuda Beach (R820 000), 2 apartments in Emerald Bay (R1,32 mil and R1,65 mil) and a aprtment in Laguna Beach for R750 000.
The number of apartments sold in 2014 was double the number of sales achieved at the height of the property cycle in 2007, when 13 apartments were sold in Greenways Golf Estate. What is also interesting is that sectional title sales within Greenways have increased by 73% between 2013 and 2014. All of these facts testify to Greenways being an increasingly sought after lifestyle Estate.
CCH resident agents, Johan Botma and Cynthia Fowles, held a 30% market share of all transfers in Greenways during 2014 - selling 12 of the 40 transfers (including non-sales) in Greenways during the year.
For those looking at purchasing property in Greenways Estate, it is of interest to look at the age demographics of people living within the immediate surroundings! 73% of stable owners within the estate are under the age of 50 but 49% of buyers in 2014 were over the age 50, with the majority in the pre-retirement category. This is evidence that more people are looking for property that will provide an excellent lifestyle during their most active and productive years, but also provide what they are looking for as they move toward retirement. Of those people resident within the estate, 24% have owned their properties for more than 8 years. When looking at the sale of properties during 2014, 32% of sellers were under the age of 35 and in comparison, only 16% of people who sold and moved out of Greenways fell in the 50-64 age group.
House prices achieved during the last year varied between R1,8 million (smaller Victorian themed houses in Village Green) and R5,9 million in St Andrews Drive. According to Lightstone, the average prices achieved in Greenways in 2014 were R1 167 191 (apartments) and R3 032 617 (houses), making it the 307th most expensive suburb in South Africa and placing it shoulder to shoulder in national ranking for freehold titles with Zevenwacht Country Estate and Golden Acre, in Somerset West, and Val De Vie in Paarl. The average household income of owners in this Estate is in the range of R43 000 to R51 000 and there were no sales in execution in Greenways in 2014.
This top quality location makes Greenways a lifestyle choice which will, in the near future, only be available to the most affluent. The lowest priced house available at present is in Village Green at R 1.599 million and the bigger houses are being marketed at between R2,245 million for a 4 bedroom/ 3 bathroom house to R9,9 million for a house of 527 sq.m.
The apartment complexes in Greenways offer a much more affordable choice, the most economically priced apartment available in Greenways selling for a price of R549 000. At the other end of the scale is an executive apartment in the prestigious Emerald Bay block, available for R4,5 million. Greenways is, therefore, one of the best value-for-money suburbs or secure estates in the Western Cape.
Whether looking for an estate in which to raise a young family, or searching for property with a view to later retirement, Greenways Estate in Strand ticks all the boxes. Offering high-tech security yet preserving a feeling of space and connection with the beautiful surrounding scenery, it will no doubt continue to grow in popularity as a preferred location of property purchase during 2015 and beyond.
If you are looking to buy in Greenways or would like to sell your property in the estate, please contact our accredited sales agents, Cynthia Fowles (cynthia@cch.co.za / 083 207 6233), Johan Botma ( johan@hightideprop@cch.co.za / 083 448 1376).