Lanseria Smart City prompts Jo'burg luxury buyers to go North
Category News
A major shift is taking place in Johannesburg's luxury property market, with many affluent homeowners now leaving traditional high-end suburbs such as Hyde Park, Sandhurst and Westcliff and moving to estates in the Fourways and Lanseria areas to the north and north-west of the city.
"This trend has definitely gained impetus since President Ramaphosa's announcement earlier this year of the government's intention to go ahead with the multi-billion rand Lanseria Smart City development over the next few years," says Rory O'Hagan, head of the Luxury Portfolio® division at Chas Everitt International.
(See https://bit.ly/39E6TRZ for more about the Lanseria Smart City)
"However, it is also a reaction to the steep increases in municipal property taxes and utility charges over the past few years and the declining rate of service delivery in return for those charges. Many of the city's most affluent homeowners just don't want to deal with these problems anymore and are choosing to move to high-end estates, which often have their own backup water supply and power plants as well as a host of other luxury facilities, and of course also offer excellent security systems for residents.
"The rapid uptake of remote working since the onset of the Covid-19 pandemic last year has also boosted this trend, with many Johannesburg business owners and executives realizing that they no longer need to live close to offices in Sandton and other commercial hubs. In this they are in tune with high net-worth individuals (HNWIs) all over the world who are now increasingly turning to estate living to ensure their privacy, safety and exclusive access to luxury facilities."
For high-end buyers from the Johannesburg's northern suburbs, the most popular estate choices at the moment include tried-and-tested options such as Dainfern and Fourways Gardens in Fourways, and a cluster of newer luxury developments around the Lanseria International Airport such as Blair Atholl Golf and Equestrian Estate, Monaghan Farm and Stonehaven, he says.
"Blair Atholl, located 3km to the north-west of the Lanseria airport, is especially sought-after at the moment, and we have sold R52m worth of stands and homes there since the start of this year. Dainfern is also still highly-regarded, and despite a shortage of stock, our team there has sold R36m worth of homes in the past few months."
The main attraction of Blair Atholl currently is that it offers proximity to the planned Lanseria Smart City combined with low-density, luxury living around its Gary Player signature golf course and beautiful equestrian centre, says local Chas Everitt International agent Alexandra Bentley. "We have had a surge of enquiries and sales here since plans for the Smart City were confirmed."
However, buyers also like the fact that stand sizes at Blair Atholl range from 3000sqm to 5000sqm, so they can still enjoy a large measure of privacy while being part of a secure, established community that offers many exclusive facilities such as a clubhouse, pro-shop, wellness centre with gym, pilates studio, squash court and Urban Savannah Spa and a family lifestyle centre with a pool, tennis courts and cricket pitch, she says. The estate also has two restaurants run by the owners of the fabulous Pigalle restaurants in Sandton and Melrose Arch.
"There are also miles of private bridle, cycling, running and walking trails within a lush, green environment that is crossed by the Crocodile River, and is home to a wide variety of antelope, birds and fish as well as warthogs and otters. Several private schools within easy reach include Heronbridge and Pecanwood.
"The estate is also attracting an increasing number of foreign HNWIs, who often own multiple luxury homes in different locations, and for these buyers as well as local business owners, executives and professionals, the estate also has two helipads, its own conference facilities and a high-speed fibre internet network."
Stand prices in Blair Atholl average range from about R1,8 to R2m, and those for existing homes currently start at around R7,5m - which represents excellent value since prices generally range from R12m to R15m and several homes here have recently been sold for R16m to R17m, says Bentley. New builds on the estate are currently going up for between R10m and R30m.
Brian Falconer and Richard Miller, the resident Chas Everitt International team in Dainfern, say new builds are now also quite common in this sought-after estate - despite the fact that it is fully developed, with no empty stands available for some years.
"Dainfern has been popular since its inception with corporate buyers and business 'swallows' from Europe as well as local top executives," they say, "but with the increased convergence of the trends towards remote working and estate living, there has been renewed recognition over the past year of the excellent value it offers.
"Consequently, we have seen a significant number of sales in recent months to affluent buyers who plan to substantially renovate an existing home in Dainfern, or even demolish it completely to make way for a new one, at many times the cost of the original.
"The current entry-level for Dainfern is just over R4m, with most homes here selling in the R8m to R12m range, but we know of one buyer who recently spent more than R4m just on a new kitchen - and of several who are building new homes on the sites of demolished ones for more than R30m."
Issued by
Chas Everitt International
For more details call
Rory O'Hagan on
083 328 8888
Alexandra Bentley on
074 208 8800
Brian Falconer on
082 651 7890
Or visit www.chaseveritt.co.za
About Luxury Portfolio International®
Chas Everitt International is the SA affiliate of LPI, which is the leading global network of luxury real estate brokerages and their top agents, and offers clients unparalleled property marketing and intelligence services. LPI is part of Leading Real Estate Companies of the World, which encompasses 550 premier independent real estate companies with 4300 offices and 135 000 sales associates in 70 countries.
Caption:
Blair Atholl Golf and Equestrian Estate is just 3km from the new Lanseria Smart City but offers luxury buyers space and privacy as well as many exclusive facilities, beautiful nature trails and spectacular views across the Gary Player signature golf course. Stands in the estate range from 3000sqm to 5000sqm and are on sale through Chas Everitt International at prices from R1,8m.
Author: Chas Everitt