Modern country lifestyle in Val de Vie Estate, Paarl

Of the 552 residential stands comprising 220ha brought to market to date in phase one of the sought-after Val de Vie Estate in the Boland region of the Western Cape, 545 have been sold and over 400 homes already completed.

This eco-friendly three bedroom house in Val De Vie Estate, Paarl, has an open-plan living area with high ceilings, a study, air conditioning and undercover braai area. It is on sale for R5.5 million - click here to view.

This is according to Dr Andrew Golding, chief executive of the Pam Golding Property group, who says bordering the Berg River in the scenic Paarl-Franschhoek Valley in the heart of the Cape Winelands, the second phase comprising a further 330ha is well under way, including the sale of stands in the Gentleman’s Estates, River Reserves, Le Domaine and La Vue.

Dr Golding says such is the demand that 40% of the stands released in phase two have sold within a month. Final phases on the estate will incorporate a retirement village, further residential stands and additional stables.

He says when completed, close to 50% of the entire 550ha estate will remain green or open space, while maintaining a maximum density of approximately three homes per 10 000 square metres.

“Originally launched in 2006, with the first transfers taking place that same year, property prices of vacant land on the estate have almost doubled since 2010. This is despite the economic recession, which saw the residential property market in South Africa severely impacted during 2008 and 2009,” he says.

“Notably, in 2012, a completed home in Polo Village sold for a Cape Winelands record of R22 500 per square metre.”

Dr Golding says the most significant capital growth has been experienced over the last two years, with land prices increasing by 50% and house prices by 2%.

This 891sqm vacant land in Val De Vie Estate is selling for R1.75 million - click here to view.

“In 2012, vacant stands were selling at an average of R1 500 per square metre compared to a current average in 2015 of R2 100 per square metre. In 2012, the average per square metre price of a home was R12 000, which has escalated to R18 000 in 2015,” says Dr Golding.

Today, he says resale house prices of R4 million to R5.5 million are not uncommon, as well as prices up to R7 million to R9 million for resale homes fronting onto the river or lakes. To date the highest price achieved for a home on the estate is R12 million.

“In addition, recent buyers of vacant land are investing sizeable amounts in building luxurious homes catering for their every need. The rental market is also strong, with no stock currently available,” he says.

Val de Vie Estate is perhaps unique in that the developers have sought to incorporate homes that cater for every different kind of buyer requirement, with an entry level of R1.8 million for apartments in Polo Village, and prices from R2.8 million to R5 million for homes in The Vines. Residential stands are selling from R1.4 million to R4 million, and more recently from R7.5 million to R10.5 million for exclusive smallholdings in Gentleman’s Estates and up to R12.5 million for River Reserves.

Dr Golding says buyers on the estate comprise a mix of locals from the Paarl and other areas of the Western Cape, but recent statistics reveal that some 75% of buyers are those relocating fromGauteng and KwaZulu-Natal, as well as expatriates returning to South Africa from abroad.

This fully furnished home in Val De Vie Estate, Paarl, offers six en suite bedrooms, an open-plan lounge with high ceilings, a study, air conditioning, braai room and wooden deck. It is on the market for R9.5 million - click here to view.

Surina du Toit, Pam Golding Properties area manager in Paarl, Franschhoek and Wellington, says an important part of the success of the estate is its high appeal for young family buyers, who are increasingly turning to secure residential estate living with easy access to good schooling.

“According to Lightstone Statistics, just over half the recent buyers in Val de Vie are in the age group from 36 to 49 years and 23% from 18 to 35 years. These two age brackets also represent a total of 69% of existing owners who have owned their properties for more than 12 months.”

Val de Vie offers a wide range of leisure and sports activities, including a 25m heated indoor pool, squash courts and two gyms, as well as stables, polo fields and clubhouse, parks, vineyards, lakes and olive groves, game reserve, even a restaurant. And with Bridge House private school in Franschhoek just 16km away and five primary and four high schools in the Paarl area within a radius of about 10km or 11km, it has everything any family could ask for and more.

Du Toit says a further important drawcard for family buyers is the established Kinder Ark Farm pre-school. With Paarl on its doorstep, a provincial hospital, Mediclinic and extensive shopping facilities, including Paarl Mall, are readily accessible.

“It’s a village in itself, offering a tranquil yet modern country lifestyle with every possible convenience, including state of the art security features, green environmental practices and fibre-optic high-speed connectivity,” says Du Toit.

This two bedroom house in Val De Vie Estate offers an open-plan living area. It is priced at R3.95 million - click here to view.

“Family buyers of primary residences today are looking for that perfect balance between nature and authentic world-class living, which accounts for the majority of residents being in their early 40s, with young children.”

Du Toit says the uptake of the most recent residential property launched at Val de Vie is indicative of the ongoing demand from home buyers and strong investment confidence in the estate.

Brought to market in June this year, only three out of a total of 13 Gentleman’s Estates remain available for purchase, priced between R10 million and R10.5 million for stands between 2.9ha and 3.13ha.

One of the four River Reserves has sold, with remaining stands from 2.56ha and 5.83ha in size priced between R8.995 million and R10.5 million. Construction of the roads and services will begin in September 2015, with transfer planned for early 2016.

“Interestingly, two of the Gentleman’s Estates were acquired by existing homeowners on the estate, one of whom owns race horses and will now have a property with a barn and stables, while the other buyer wanted a more spacious property and a home with an indoor swimming pool and total privacy.

“Other buyers of the Gentleman’s Estates are planning to grow vegetables, nut trees and the like, and all plan on living permanently on the estate,” says Du Toit.

“The uptake for these properties has been exceptional, however, it is a unique offering with nothing comparable within a secure estate, and you simply can’t buy a smallholding with this kind of security and lifestyle.”

This property in Val De Vie Estate, Paarl, is available for R2.86 million - click here to view.

At The Vines, launched in March, where 142 plot and plan homes will be set on 12ha of prime land with views of the Paarl Mountains and four scenic lakes, 47 units have sold to date. Buyers have a choice of modern homes, ranging from single storey 172sqm to 188sqm homes to double storey residences of 248sqm to 264sqm and double storey, premium homes of 290sqm.

Du Toit says the homes are designed exclusively for this development by one of South Africa’s most well-known architects, Stefan Antoni of Antoni Associates. Construction of roads and services are well underway, with the building of homes to commence in January 2016.

Being well-priced with most homes in the R3 million to R5 million price range and with the potential for attractive rental yields, a number of these homes have been acquired as buy-to-let investment properties.

At Polo Village, with only five units out of a total of 60 one and two bedroom apartments still available for purchase at R2.85 million, construction began on site in May this year.

Buyers are a combination of end users and investors planning to capitalise on rental opportunities for polo players and other visitors attending events held at Val de Vie. Once all the units are sold, one lucky buyer will be the winner of a Ferrari, courtesy of Val de Vie Estate.

Du Toit says further sales of vacant erven are progressing in Le Domaine and La Vue in phase two of the estate, with only 12 of the total of 33 stands available for purchase in La Domaine at prices ranging from R1.425 million to R1.595 million for 675 to 773sqm. In La Vue, 10 of the total of 33 stands have already sold, priced from R1.75 million to R4.3 million for 891sqm to 2 058sqm.