Nestled between Devil’s Peak and Oranjezicht is this trendy suburb, popular with younger and first time buyers, and especially with those of dual income but no kids yet (DINKY) status.
Vredehoek has undergone an urban revival since the settlement here of many European expatriates who discovered it after peace was declared at the end of the First World War. One of the oldest buildings in this area is Nazareth House, dating back to 1880 when the Bishop of Cape Town requested a safe environment where orphans, elderly and abandoned children could be cared for. This building has remained in the same caring hands ever since, as have many Nazareth homes the world over.
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Devils Peak with Vredehoek on the left at the base of the mountain.
Overlooking both Table Bay and Table Mountain from different vantage points, this city suburb attracts young professionals who work in the city, or commute short distances to business districts from there. Property professionals say that most of the original art deco apartment blocks here have been transformed into contemporary style properties, while large freestanding homes have been renovated into modern living spaces suited to young families. This established suburb, now one of the city’s most sought after addresses, offers a greater affordability factor compared to its well heeled neighbours in Oranjezicht, Higgovale and Devils Peak. A large selection of apartment blocks for rent in this area also attracts a younger professional and student rental clientele. This central location offers close proximity to several tertiary institutions including the Cape Town University of Technology, University of Cape Town’s Drama Faculty and several private culinary arts, advertising, copywriting and photographic schools.
When looking at property statistics of the area, Lightstone shows Vredehoek to have a greater component (58 percent) of sectional share properties compared to (42 percent) freehold, with the majority of existing owners as well as recent sellers having resided here for 11 years or more. Greater property sales activity in the sectional share component of this market is seen in Lightstone’s recorded sales for the past 12 months, of 78 properties at average prices of R1.2-million, compared to the lesser number of 46 freehold sales at average prices of R2.5-million. And during the past three months the total number of sectional share sales in Vredehoek came to 18, averaging out at R1.3-million, while only 13 freestanding sales at average prices of R2.2-million took place. Also notable are average prices showing growth and activity, as seen in freehold prices of R1.2-million in 2004, to have peaked at R2.68-million, currently standing at R1.99-million. Sectional share prices which stood at R527 000 in 2004, and peaked in 2006 at R2.68-million, are currently at R1.995-million.
In terms of public amenities this area has much to offer with at least five schools, five hospitals, three shopping centres and a number of places of historic and cultural interest. Vredehoek residents enjoy the pleasures of living within close proximity of the District Six Museum, the South African Museum as well as the SA National Art Gallery. The States President’s office at Tuynhuys is located in the same vicinity as the beautiful Company Gardens, facilitating easy walks from the top of the Gardens mixed use residential area, into the city centre.