The shift to estate living has seen somewhat of a boom in Pretoria East and Centurion with prices ranging from R5 million to around R18 million paid this year. This is according to Gerhard van der Linde, MD of Seeff Pretoria East.
Despite the subdued economic climate, he said agents have largely just put their heads down and continued guiding buyers and sellers, with Seeff selling 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 the estates.
Van der Linde said 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 a 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 to a highest price of R16 million.
Other Pretoria East estates with notable prices paid include The Hills Game Reserve with a highest price of R8.4 million, Silverwoods Country Estate with a highest price of R7 million.
The highest price paid for a property at the Wilds Estate during this time was R9 million, while Lombardy Estate’s highest price was R10.5 million. Mooikloof Heights Estate followed shortly on its heels, with a highest price of R7.75 million.
Pretoria is not just 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 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, said prices of up to nearly R80,000 per month are not unheard of.
Centurion is also home to a number of popular security, lifestyle, and golf estates, said Tiaan Pretorius, manager for Seeff Centurion. 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 volume of sales were 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 from around R2.3 million for a townhouse, and from 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 like a suburb on its own 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 from just R1.5 million. The estate is ideal 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.