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What does Cape Town offer semigrants in terms of current trends? Are buyers relocating from elsewhere in SA more interested in renting or purchasing a property, and what kind of homes – gated estates, apartments, or free-standing units – are most in demand?
Claude McKirby, co-principal of Lew Geffen Sotheby’s International Realty in Cape Town’s Southern Suburbs and False Bay, says renting is often the first choice.
‘We are receiving enquiries for both sales and rental properties and often people looking to purchase will rent first whilst they search for a home to buy. Gauteng buyers are generally more interested in properties in secure estates but freestanding homes near good schools are also highly sought-after,’ says McKirby.
State of Cape report
 Key property findings were included in the latest edition of the State of Cape Town Central City Report 2021 – A Year in Review, published by the Cape Town Central City Improvement District. According to the report, residential property developments dominated the Cape Town CBD property sector in 2021, with several residential or mixed-use developments coming onstream.
The conversion of commercial office blocks into mixed-use developments with both a residential and commercial component provides flexible living options, while the optimisation of areas where residents can both work and live, is a prominent development trend.
When considering the current city scene, Estate Living asked whether clientele comprises mostly private buyers, including individuals and families, or whether a demand exists from the commercial/business sector for premises in and around the city.
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According to McKirby, semigration is not only driving the relocation of families but also businesses to the region. This has resulted in a spike in the demand for business premises, both to buy and to rent.
‘In fact, we are starting to see a very high buyer demand, with the total value of our current inquiries now standing at around a billion and, bucking the recent trend for industrial properties, most queries are for office space and retail premises.’
Location, location, location… stock?
He says that, as is in other Cape centre, the stock is becoming an issue, especially in the more sought-after areas with good schools. “We are currently experiencing shortages in the Southern Suburbs and the same is starting to happen in the Northern Suburbs.
‘There’s also been an uptick in enquiries across the Cape Peninsula from Muizenberg to Noordhoek since mid-2021 as it not only offers the quintessential seaside village and outdoor lifestyle but does so at more accessible pricing than most comparative coastal areas. It also offers a very broad selection of properties.
‘There has also been a notable increase in the development of estates along the coastline during the past couple of years,’ says McKirby.
Noteworthy new developments
According to McKirby, these new property options are adding to the Mother City’s attraction for semigrating people or companies:
* Constantia Nek, a secure, residential mountain village comprising 40 opportunities to build your dream home in an idyllic rural ambiance attracted a lot of attention from upcountry and local buyers and is now sold out. (constantianekestate.co.za)
* Botanica Constantia is an upscale boutique estate, nestled in the Constantia Valley across from the Hohenort Hotel, and designed as a haven of privacy, security, and tranquillity. (botanicaconstantia.co.za)
* Riverside Village in Kommetjie is a new development to cater to the growing demand for estate homes along this coastal strip traditionally dominated by freestanding homes. Another beauty on this side of the mountain is Chapmans Bay Estate with sweeping views and is surrounded by fynbos. It’s 80% sold out. (chapmansbay.co.za)
McKirby concludes: ‘All residential development along the False Bay coastline has also precipitated commercial development in the area, and there are now a growing number of amenities including retail centres, medical facilities, and schools.’
