Entry-level Property Boom in Cape Town’s “Most Integrated” Suburb

Entry-level Property Boom in Cape Town’s “Most Integrated” Suburb

Parklands is fast becoming Cape Town’s most racially and culturally integrated suburb as entry-level buyers clamour to snap up affordable housing in this rapidly growing area, according to property expert, Toni Enderli.

“Parklands is characterised by a mix of races and cultures living in harmony in this ideal location close to the city and the coast and featuring all the necessary amenities nearby,” said Enderli who heads up Realtor of Excellence, SA’s first cloud based real estate company.

Enderli said Parklands property agents were battling to keep up with entry-level demand, thanks to developers such as International Housing Solutions (IHS), a global private equity fund focussed on affordable housing in Sub-Saharan Africa which is developing four gated estates in Parklands.

IHS’s SA MD, Rob Wesselo, said the company’s energy efficient developments in communities such as Parklands had easy access to schools, shops and working opportunities. He added that IHS properties were certified by the Green Building Council’s “EDGE” (Excellence in Design for Greater Efficiencies) rating system which strives for more eco-friendly designs and systems.

Enderli said the first phase of one of IHS’s newly launched Parklands developments, The Courtyard – a secure, eco-friendly residential estate offering two-bedroom apartments from R729 000 – had sold out within 24-hours.

Another IHS development in Parklands launching soon also offered units at under R1-million and a five-year structural guarantee due to partnerships between IHS and builders, Group Five.

“This kind of value is unique to Parklands which is exploding in popularity due to affordability, its location, the MyCiti bus route, world-class shopping malls, hospitals, schools and its lifestyle attractions — not least beautiful beaches nearby, some of which are among the world’s best kite surfing destinations,” said Enderli.

“The Courtyard is particularly attractive because the unit selling price includes transfer costs. First-time buyers can access a 100% bond and need only R10 000 deposit to secure a unit,” he added.




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