Wynberg's rich heritage a massive drawcard for prospective home owners
The rich history of Wynberg is a massively attractive drawcard for prospective home owners, with most property sales in the area being recorded on the first day of sale. This, says one local property developer, is the reason why demand in the area is at such a high level.
“When we launched 21 on Wellington, we sold out almost immediately. The waiting list from prospective and interested home buyers for the area is also growing by the day,” says Mike Greeff, CEO of Greeff Properties.
Propstats figures, he explains, reflect that over the past 12 months the average selling price of sectional title apartments in Wynberg rose by 8.2% when compared to the average selling price for the 12 preceding months.
Four units have now been released at a new development in Wynberg, called The Chelsea. Greeff says more than half of the units were sold at the initial launch in June this year.
“The demand is so high for apartments in the Southern Suburbs that investors are keen to buy off plan which was the case here with our initial launch,” adds Greeff. “These last few units are, however, built and ready to move into.”
The Chelsea is located just around the corner from the characterful restaurants, coffee shops, galleries, antique and décor stores of Wynberg’s Chelsea area, not to mention the attraction of historic Maynardville.
“Wynberg, and in particular the Chelsea area, boasts one of Cape Town’s highest concentrations of surviving heritage buildings and homes,” says Greeff.
He says most of the buyers are couples and young professionals, along with some investors and down-scalers.
- The Chelsea is situated across the road from Wynberg Girls High School and will be on show this Sunday (27 November). Units are priced from R2,05m and there is no transfer duty.
