EXECUTIVE UPDATE | March 2013



Dear Subscriber,

“It’s heartening to see that the green shoots of recovery in the Cape Town property market that we observed last year have strengthened their roots and are growing faster than ever.

“No where is this more obvious than on the Mother City’s Atlantic Seaboard, where we have seen unprecedented pre-launch sales at Signatura’s first Sea Point development, Azzurri. In fact, four out of seven of these magnificent apartments have sold off plan – long before we have launched any formal advertising!

“At the same time, reports from the second-hand house market indicate that properties are trading much more quickly than they have for a long time, which is a good sign for the market as a whole.

“With confirmation that interest rates are set to remain at their historical low for the time being, and positive signs that house price growth is starting to gather momentum, I am confident that we are set for a period of steady growth in the mid-term – which makes this an excellent time for investors to get back into the market.”


John Rabie

AZZURRI PRE-SALES PROVE SEA POINT IS ON THE RISE!
The upgrading of Sea Point’s commercial precinct is having a positive effect on its residential market as it once again becomes a sought-after area for affluent buyers, says John Edgar of Signatura, which is developing a luxurious apartment block in Calais Road, Sea Point.

Named Azzurri after the azure sea views its elevated position offers, the block features six two- bedroomed apartments with spacious terraces, two of which also have indigenous gardens. The top two floors of the development comprise a duplex penthouse with three bedrooms and 343 square metres of overall living space. Each apartment comes with two secure basement parking bays and is accessed by a private lift from the parking area.

“Buyer interest has been phenomenal,” commented Edgar, “with four of the seven apartments having been sold before we even started work on the foundations! And the very first to go was the expansive penthouse, which is exactly what happened at Horizons in Vredehoek as well. Clearly, for a certain class of buyer, size, position and quality far outweigh the premium price tag!” Azzurri is expected to be complete in February 2014.
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FRANK KNIGHT GLOBAL HOUSE PRICE INDEX CONFIRMS SA RECOVERY
The highly respected Frank Knight Global House Price Index results for the fourth quarter 2012 have just been released, and confirm that the South African property market is performing well on the global stage. South Africa ranked 11th out of the 55 countries studied, with a 7,4% year-on-year increase, just above the United States in 12th position, and well ahead of countries such as Australia,Israel, Germany and the United Kingdom.
FOR THE FULL FRANK KNIGHT REPORT, CLICK HERE
ROBYNDALE PHASE 2 FORGES AHEAD
One of Kenilworth’s iconic apartment blocks, Robyndale, is undergoing further renovations and upgrades courtesy of new developers, Signatura.

With the Maynard Mall being revamped, Robyndale – which is a stone’s throw from the mall – is also undergoing the second phase of a major renovation. A new block of five apartments with its own lift is being planned, a swimming pool and gazebo are being installed for residents, and the ground-floor units are being given private landscaped gardens.

“In addition,” says Signatura project manager Bradley Parker, “the existing lift is being replaced with a new high-tech one, all apartments are getting new front doors and the old steel windows, which needed lots of maintenance, are being replaced with modern aluminium ones. Security is being improved with the installation of a state-of-the-art Mercom intercom system so that residents have complete control over who can enter the premises. The entire fa├žade of the building is being uplifted – we’re working hard to modernise this beautiful old lady!”
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For sales enquiries, email Anton McElhone or phone him on 083 506 7829.

For development opportunities, email John Edgar or phone him on 083 270 2434.