Value for money in Cape Towns north-eastern suburbs
The suburbs between the N1 and N7 to the north east of Cape Town have often flown under the radar for property buyers from outside the area, but the high demand being experienced at present could indicate that this is starting to change.
This four bedroom house in Bothasig,Milnerton, has an open-plan kitchen and lounge. It is selling for R1.795 million - click here to view.
This is according to Quinton Dawson, senior sales agent at the Rawson Property Group’s Bothasig franchise, who reveals a few of the factors that may be contributing to the increasing popularity of this part of Cape Town.
Dawson says Bothasig, Edgemead and Summer Greens are all family-oriented neighbourhoods, but they each cater to a slightly different market segment, which helps attract a variety of buyers to the area.
In general, he says they’re all considered relatively low crime areas, have good proximity to shopping centres and major highways, and are central to most of Cape Town and its surrounds.
Bothasig is the oldest of the three neighbourhoods, built on what was originally the Bosmansdam farm. Houses in the suburb can be up to 50 years old and are typically about 130sqm in size, with three bedrooms and a single garage on stands of around 600sqm.
“There are still some old ‘prefabs’ in Bothasig from back in the day, and they are an attractive option for buyers looking to add value through renovation. People who prefer more contemporary houses, however, will find plenty towards the southern side of Bothasig, near Edgemead, with prices ranging from R1.195 million to R 2.040 million depending on size, location and style,” he says.
This property in Summer Greens, Milnerton, has three bedrooms. It is priced at R1.35 million - click here to view.
Dawson says Edgemead itself is marginally younger than Bothasig, and the oldest properties here seldom exceed 40 years of age. The houses tend to be slightly more spacious as well, with three to four bedrooms and double garages, although the erven are a little smaller than those in Bothasig, sitting at an average of 500sqm.
“One of Edgemead’s main attractions is its green and leafy environment. It’s a garden suburb, and that’s one of the things buyers in the area look for, he says.
“However, we are seeing a decrease in the number of people wanting properties with swimming pools, probably because of the rising water and electricity rates and the amount of upkeep pools require.”
Dawson says lower-end prices in Edgemead are similar to those in Bothasig, starting at around R1.145 million. The ceiling price is a little higher, however, topping out at just under R3 million.
“Buyers in Bothasig and Edgemead tend to be quite similar on paper and the average household income of the two suburbs is the same. Edgemead is perceived as a slightly more affluent area, however.”
This home in Bothasig, Milnerton, has three bedrooms, an open-plan kitchen and a covered braai area. It is on the market for R1.795 million - click here to view.
He says on the other end of the scale is Summer Greens, the newest of the three suburbs and the result of several phases of development that have created a selection of compact and affordable homes.
“Summer Greens has the smallest properties in the area, but the affordable prices make it a great option for first-time buyers.”
Houses in Summer Greens have two to three bedrooms and are around 100sqm in size with a carport or single garage on about 300sqm of land. Prices start at R595 000 and peak at a reasonable R900 000.
“Between the three neighbourhoods, there’s something to suit almost everyone here, from a fixer-upper to a good old-fashioned family home, to a contemporary gem or a compact lock-up-and go,” says Dawson.
“It’s not surprising that we’re seeing such high demand given that we appeal to so many different types of people. It does make things tricky for buyers because of the shortage of stock, but the return on investment that we’ve been seeing, nearly in the double digit region, makes it worth the effort in the end,” says Dawson.