19 October 2006

Atlantic Seaboard property prices still reaching record highs

Submitted by: Dogon Group
[Pressportal.co.za] Every time properties are sold for record prices on Cape Town’s Atlantic Seaboard, it appears that these exceptional prices can’t be achieved again, yet they are exceeded within a relatively short time. This comment from Denise Dogon, CEO of Dogon Group Properties, is supported by recent deals that her company has concluded in the area, including the sale of a home for R15-million, inclusive of VAT, in Higgovale, far exceeding the previous highest price of R10,9-million in the suburb.
 
The company’s other record-breaking sales include that of a newly-built beach cottage on Camps Bay beach, which went for R21-million; and a family home, formerly run as a guesthouse, in Camps Bay which fetched R15-million.All three properties were sold to South Africans, two being expatriates living in the United Kingdom. 'South Africans are recognising that property in Cape Town still offers exceptional value,' says Dogon, adding that despite the recent escalation, prices are still a fraction of what you would pay for comparable properties in the South of France, which she recently visited.

'To achieve the top prices, however, all the indicators have to be in place: for example, the property must be in a rarely offered position and have superb views,' she says.Bridge House, the Higgovale property sold, is a very modern, cubed home that stands on about 2 000m², an unusually large plot in the City Bowl area. It was designed around an indigenous garden that the former owners, top modern furniture manufacturers from Europe, wished to preserve.

The architects, Van der Merwe-Miszewski, who received an award for the design, created a modern retreat on a challenging site on the slopes of Table Mountain. 'Rather than level the site, they built on the perimeters to retain the feeling of a long-lost garden with mossy rocks and mature trees,' says Dogon.

The house comprises three separate buildings, linked by walkway 'bridges'. The main section, a glass and steel rectangle, is perched on concrete pillars towering above the lush garden and commands magnificent views. The accommodation includes a open-plan lounge/dining room with central fireplace, indoor bar, family room, and three air-conditioned en-suite bedrooms, one with its own lounge. There is also a two-bedroomed guest house with lounge, kitchen; two en-suite bathrooms, and guest toilet.

A rim-flow pool cascades into a natural stream running into a pond at the bottom of the garden. 'The peace and quiet make it hard to believe that you are only five minutes away from the city centre,' Denise says.

The second property, the modern beach bungalow, has a different kind of charm. Sold for R21-million, despite having no parking, it straddles two beaches, Camps Bay and Glen Beach. 'The sellers recently built it to replace their former home, an older bungalow, on the site,' says Careen Bernstein, who manages Dogon’s Camps Bay branch.

The architect-designed new property, which has 360º views of mountains and ocean, has a downstairs living room leading to a rim-flow pool. On the top floor there is another living/dining room, a Italian kitchen, an indoor bar leading onto a deck, four-bedrooms, two en-suite, a third bathroom, a guest cloakroom, and also a guest suite, says Careen, adding that beach properties appeal to a niche market.

The third property, the R15-million family home surrounded by trees on the mountainside of The Glen, also offers magnificent views.
The buyer was initially looking for a lock-up-and-go unit at half the price,' says Careen. 'But when he saw the beauty and privacy of this house, reminiscent of an estate in France or Italy, he fell in love with it.'

The wind-sheltered property has five suites upstairs, and boasts state-of-the-art finishes throughout the house. Downstairs, the entrance hall leads to a formal lounge/dining area and galley kitchen. There is another informal lounge/eating area; and a gentleman’s study or smoking room. The pool area has its own gym, sauna and barbecue area.

All three properties were sold very quickly: the Higgovale villa in less than one month; the beach bungalow within two weeks, and the guesthouse within a week of being listed by Denise’s company.

Camps Bay holds such appeal for buyers that families unable to obtain the accommodation they require in their price range are buying properties and demolishing them to build new homes more suited to their needs, as there are so few plots available, says Careen.

'People enjoy Camps Bay because it still has a slightly ‘village’ feel and is less built up than other Seaboard suburbs,' she says. 'The beachfront strip, with its café society vibe, is also similar to South Beach in Miami, and the restaurants, clubs and shopping facilities are all within walking distance.'

Contact Details:
17 Regent Road
Sea Point, Cape Town
South Africa
Tel: +27 21 433 2580
Web: www.dogongroup.com
Total Words: 818

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