Lifestyle estates grow in popularity

30th Aug 2019Business

Prospective homeowners are increasingly looking to invest in secure lifestyle estates – for a number of reasons. This is a growth area across the entire South African property market, but there are also specific pockets that stand out. These include the Garden Route and Cape South coast areas, and parts of the Eastern Cape, with particular positivity regarding the Port Elizabeth housing market.

There has been sustained downward pressure on the national economy, but PE’s prospects have remained comparatively bright. Major investments, such as the mammoth Coega Industrial Development Zone, and its accompanying influx of workers, have seen to this. It has stimulated various areas of the local economy, including vehicle manufacturing and housing.

The desire for people to want to live and invest in secure lifestyle estates is driven in large part by wanting a sense of security and peace of mind – not only within their homes, but also in their immediate surroundings, when exploring local areas, and being able to spend time relaxing, exercising and socialising outdoors.

Growing awareness of the importance of work-life balance, and greater mindfulness of the importance of remaining in touch with nature, have led to a preference for access to beautiful landscapes and the outdoors. However, no-one wants to feel unsafe when they are in these areas, nor do they want to have to drive far to get there. This explains why lifestyle estates offer the best of all worlds because they can fulfil so many of these needs.

In PE, one such estate in particular, has proven exceedingly popular – Westbrook. Developed by the Amdec Group of property developers, who have a track record spanning more than 30 years, this brand-new suburb is already home to scores of happy families, with large swathes of it still to be built.

Westbrook brings to life many of the reasons why these estates are so popular – not only countrywide. Discreet round-the-clock security, plenty of open space with beautiful indigenous landscaping, an on-site Curro school, a cycle and running track, and a lot more. Married couples wanting to start a family, and young families with small children, make up the predominant number of buyers in this segment of the market.

The other reason why this formula is working so well in the PE market, is that properties prices are more affordable than in most other metropolitan areas in the country. Buyers can generally expect value for money and the potential for long-term growth. It follows that PE has a lot to offer the prospective property buyer – whether they are buying to live in the place, or planning on renting it out. While growth potential of properties may vary, they all provide buyers with favourable projections when it comes to return on investment. Clear to see why peace of mind forms an integral part of a desirable living space.

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