Strong demand boosts price growth in Somerset West

Foreign nationals and residents from other provinces in South Africa are increasingly looking to buy luxury homes in Somerset West, says Louise Varga, Pam Golding Properties area manager for Somerset West, Stellenbosch, Strand and Gordon’s Bay.

The result is that more properties in the R20 million plus price bracket are being sold in Somerset West than ever before. Now on the market exclusively through Pam Golding Properties is a remarkable eight-bedroom home with all conceivable conveniences, priced at R58 million. The property is in Spanish Farm, one of Somerset West’s most elite suburbs on the slopes of the Helderberg, where almost every property has spectacular views of the sea and surrounding mountains.

The innovative design of this landmark residence celebrates magnificent Helderberg mountain and False Bay views, blending indoor spaces with the natural beauty of the surroundings.

A state-of-the-art kitchen flows into the dining and living areas, leading to a covered balcony. Upstairs, a luxurious main suite complements the four en-suite bedrooms downstairs. Notable amenities include 2 cottages, a double garage with hydraulic lift, sauna, home theatre and a 10kw inverter system powered by 42 solar panels.

“Apart from local buyers and semigrants from other provinces and areas, foreigners – particularly those from Europe and the UK – have always been attracted to Somerset West. There are many German, Swiss and Dutch nationals living here with a number of shops now catering specifically for their tastes,” says Varga.

“They tend to look for luxury properties in secure estates and the increasing number of golf estates and eco estates which have been established in the Helderberg basin over the past few decades. However, Spanish Farm is still one of the most prestigious established suburbs – comparable to upmarket Bishopscourt in Cape Town.”

Somerset West is regarded as the business and residential hub of Helderberg, with its historic buildings, renowned wine estates like Vergelegen and Lourensford, some of the best shopping facilities in the Cape metropole, and excellent medical facilities.

Buyers are understandably attracted by the idyllic Somerset West lifestyle, with its mild climate and magnificent views of nearby beaches and mountains from many high end properties. Business commuters appreciate the proximity of Cape Town International Airport and many elect to spend the working week in Gauteng and weekends with their families, who are settled in Somerset West, which is well-supplied with top schools as well as sports and recreation amenities.

With 73.1% freehold homes and 34.5% located within residential estates, a recent Lightstone report reflects a consistently strong property market in Somerset West, says Varga.

“This certainly bears out our view of the market. Somerset West’s combination of natural beauty, excellent value for money and attractive property options makes it a compelling choice with broad appeal for home buyers,” says Varga.

Notably, freehold sales activity in Somerset West has been extremely strong post-Covid, close to levels last seen in 2014, with no sign of a slowdown.

Posted by The Know - Pam Golding Properties