W Cape luxury estate sales booming despite tough economic times
Sales of homes and offices in the state have exceeded R2.4 billion in the past 12 months.
Despite the realities of an increasingly constrained economy, sales of residential and commercial property at a Western Cape residential estate have been booming.
New data from the estate reveals a dramatic increase in demand for residential offerings at the Val de Vie Estate in what they are calling a "semigration boom."
"The sudden home confinement caused by the Covid-19 pandemic lockdowns including in South Africa occasioned an immediate reconsideration of the way people live and work.," says Ryk Neethling, marketing director at Val de Vie Estate.
He adds: "Since the recent unrest in Gauteng and Kwa-Zulu Natal, many families and retirees are carefully considering where the most secure environment is to invest in their homes, businesses, and healthy lifestyles."
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According to Neethling, sales of homes and offices in the state have exceeded R2.4 billion in the past 12 months.
"Nearly 300 properties, consisting of homes, offices, and stands, were sold in the past year, and 1 500 families now live across the greater estate," he says.