Gerhard van der Linde
Seeff Pretoria East
Managing Director
The shift to estate living has seen somewhat of a boom in Pretoria East, with prices upwards of R5 million to around R18 million paid this year, according to Gerhard van der Linde, MD of Seeff Pretoria East.
Despite the subdued economic climate, he says agents have largely just put their heads down and continued guiding buyers and sellers. Seeff sold a record 61 properties worth over R156 million over the last two months in Pretoria East alone.
Broader market trends on Lightstone show that for the year to the end of October, some 20,626 transactions worth over R25.3 billion have been concluded across the Tshwane Metro at an average price of R1.228 million. Some 4.056, comprising about 16% of all transactions, relate to estates (freehold and sectional title).
While the R3 million to R5 million price band is the most in demand for estates, a number of high-value estate homes sold for over R5 million, and the highest prices paid in Pretoria East were also mostly in estates.
Van der Linde says that aside from security, estates offer a well-managed environment and sense of community, along with access to amenities such as sports facilities, open spaces, and good schools.
The highest volumes of high-value sales were in Woodhill Golf Estate, with the highest price of R10.5 million, Silver Lakes Golf Estate, with several sales over R10 million to a highest price of R18 million, and Mooikloof Residential Estate, with the highest price of R16 million.
Other Pretoria East estates with notable prices paid include The Hills Game Reserve, with the highest price of R8.4 million; Silverwoods Country Estate, with the highest price of R7 million; the Wilds Estate, with the highest price of R9 million; Lombardy Estate, with the highest price of R10.5 million, and Mooikloof Heights Estate with the highest price of R7.75 million.
Pretoria is not only the capital city and seat of the national government but also a top business centre and a popular residential and investment market. Many foreign embassies and consulates are located in Pretoria East. According to a New World Wealth Report, Pretoria is one of the wealthiest cities on the African continent and home to some 2,100 high-net-worth individuals.
It notes the top suburbs, such as Waterkloof and Waterkloof Ridge, as well as luxury lifestyle estates such as Silver Lakes, Mooikloof Equestrian Estate, and Woodhill Estate.
Houses in estates are also in high demand for rentals, and PG van der Linde, rental manager for Seeff Pretoria East, says prices of up to nearly R80,000 per month is not unheard of.
Centurion is also home to several popular security, lifestyle, and golf estates, says Tiaan Pretorius, manager for Seeff Centurion. These are popular with buyers and tenants, and the R3 million to R4.5 million range tends to be the most popular.
Here, too, the highest prices achieved this year were mostly in estates, predominantly in the R5 million to R10 million range. The highest sales volume was in Southdowns Estate, Copper Leaf, Centurion Golf Estate, and Cornwall Hill, with sales also concluded in Blue Valley Golf Estate and Irene Farm Villages.
Top-end estates in Centurion include Blair Atholl Golf and Equestrian Estate, which boasts a Gary Player golf course. Prices range upwards of R6.5 million to as much as R67 million for a high-end home. New World Wealth ranks the estate among the top in the country.
Centurion Golf Estate sells around R2.3 million for a townhouse and R3.6 million to R18 million for houses. Blue Valley Golf Estate, also with a Gary Player golf course, is another popular choice for upper-income buyers. It’s priced from around R3.3 million to around R7 million. The estate was one of the top performers last year.
Midstream Estates is one of the largest and is like a suburb with various housing options, schools, shopping, medical care, and more. It appeals especially to families, and some 72% of all buyers tend to be younger, below 50 years. Prices range from around R3 million, says Pretorius.
Thatchfield Residential Estate is a great choice for middle-class buyers, offering three-bedroomed homes for just R1.5 million. The estate is great for families and first-time buyers, as it has a nine-hole golf course, driving range, tennis courts, other sports facilities, communal braai areas, jogging trails, and bird watching along the Rietspruit River.