Record selling price raises the bar in Klein Wassenaar area of Kirstenhof

Property sales in Kirstenhof increasing

Over the past twelve months, there’s been a massive upswing for property sales revenue and selling prices in Kirstenhof, according to Mike Greeff, CEO of Greeff Properties. According to Greeff, Propstats figures reflect a 21% increase in the average selling price for a free-standing home over the past twelve months from R1 668 182 – the average selling price for a free-standing home during the preceding twelve month period, measured from March 31, 2013 to March 31, 2014 – to R2 025 594.

The total sales revenue for the past twelve months, according to Propstats, was R64 819 000, compared to total sales revenue of only R36 700 000 recorded for the previous twelve-month period.

Record selling prices

“The upswing in activity can be attributed to an increase in sellers responding to the very real and high demand for Kirstenhof properties,” says Greeff, whose agent in Kirstenhof has just achieved a record price of R2.15 million in the Klein Wassenaar area of the suburb. The three-bedroom, two-bathroom home, which includes study and bar room, on a plot of 325m2, with a pool and a single garage, was an incredible sale. “This was the full asking price and sets a new ceiling for the area,” says Greeff, adding that the property was sold in less than 24 hours of being listed. “The previous top selling price for this type of dwelling and plot size within a 400m radius, according to CMA, was R1.775 million,” says Greeff.

“Kirstenhof homes offer excellent value for money, and are in high demand among families with school-going children, as well as among young professionals. The proximity of schools, as well as the growing business hubs of Retreat, Westlake and Tokai, with the revamped Blue Route Mall have increased demand for real estate in the area, and more often than not, properties do go for the full asking price and within a matter of days of listing,” says Greeff.

Other sales

Recent sales by Greeff in Kirstenhof include a three-bedroom, two-bathroom home, with a separate one-bedroom, one-bathroom flatlet on a 748m2 plot in Idalia Road, which fetched R2.35 million. Prior to that, the full asking price of R2.45 million for a three-bedroom, two-bathroom home in East Light Road on a 764m2plot was achieved. Currently for sale by Greeff is a four-bedroom, two-bathroom home in Kirstenhof on a 709m2 plot, with swimming pool and a bar cum braai room. Asking price: R2.85 million.