South African buyers are taking a swing at this type of property
There has been a demand boom for homes on golf estates following the conclusion of the Covid-19 pandemic.
According to the Seeff Property Group, golf estates have seen growth of around 8% to 10% on average, with buyers mainly interested in the lifestyle rather than investment value.
Particularly in the Cape, the value of some estates has practically doubled over the last five to eight years.
The highest volume of golf estate sales have been in the R3 million to R14 million range, but there have been some sales above R20 million.
Rental rates for golf estate homes have also skyrocketed, with high-end areas, such as Constantia or the Winelands, seeing rental returns of above R60,000 to over R100,000 per month.
Golf estates are also popular for second-home purchases, whilst also being a favoured choice for semigration buyers.
However, not all buyers are moving to the Cape, with Centurion and Pretoria East, Zimbali and Hartbeespoort all seeing demand grow.
The high prices for golf estate properties come as no surprise, with the sport especially popular amongst the extremely rich.
New World Wealth said that golf is the most widespread activity for centi-millionaires – those worth $100 million (R1.9 billion), despite the sport’s popularity dropping slightly over the last ten years.
54% of the world’s centi-millionaires play golf, far higher than the 28% who collect art and the 20% who cycle.
Below are some properties currently on the market in golf estates:
- 7 Bedroom House for Sale in Fancourt, George
- Price: R24,500,000
- 4 Bedroom House in Zimbali Estate, Ballito
- Price: R16,950,000
- 4 Bedroom House in Steenberg Golf Estate, Cape Town
- Price: R10,120,000
- 4 Bedroom House for Sale in Silver Lakes Golf Estate
- Price: R6,800,000
- 2 Bedroom Townhouse in Eagle Canyon Golf Estate, Johannesburg
- Price: R1,250,000
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