Sandton is decidedly home to some of the most glamorous and sensational property the African continent has to offer, as the luxury property market grows in this area.
Charles Vining, Seeff’s Managing Director in Sandton, says the Sandton suburbs and immediate surrounds have generated an estimated R8 billion in residential sales in the last 18 months and a fair amount of these sales have either been cash deals and/or in the R5 million plus price range.
“About 10 sales per year are made in the R20 million plus price range in Sandton and we are seeing more activity in this segment of the market than we had in the prior 18 months. To date the highest price our branch has achieved in 2016 has been R26 million for a mansion in Sandhurst.
The highest asking prices are generally in the mid R20 million ranges. These homes are located in the most desirable suburbs like especially Sandhurst and Hyde Park, but occasionally homes here can also be as high as R60 million - R80 million.
Vining says even in this super expensive price range buyers are not overpaying or indulging outrageous price tags in the slightest and it is more important than ever for sellers to correctly price their property whether it is in the sub R1 million or above R50 million price range.
Vining continues that they currently have three properties priced in the R60 million to R75 million price range and six homes priced in the R32 million to R40 million bracket. These homes are located in different areas like Sandhurst, Hyde Park, Morningside and Bryanston, but are all considered to be in Sandton.
One of the most lavish homes Seeff Sandton currently has on its books is a R60 million home reminiscent of the Southfork Ranch made famous years ago by the Erwing Family in the television series “Dallas”.
The size of the erf of this home is 5776 m2 and there are five bedrooms and five bathrooms. Luxuries include a gym, a hotel-type spa, fully fitted cinema, private library, cigar bar and a separate entertainment summerhouse with pizza oven, billiard room and dining area overlooking the pool, pool deck and floodlit tennis court amongst others.
Another memorable home that boasts characteristics of the iconic Tuscan Villa, “Villa Gamberaia” on the hills of Florence is on the market for R25 750 000. This home is located on an erf of 8600 m2, has five bedrooms, five bathrooms, a Slavin kitchen with integrated appliances, Italian garden and lighting, built in pub and wine tasting room, a gym, Mahogony units throughout, gas and wood fireplaces, Rhodesian Teak Floors and a sparkling pool surrounded by Zimbabean Teak deck.
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