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Staff Writer

Western Cape town a hotspot for foreign investors



Foreign nationals and residents from other provinces in South Africa are increasingly looking to buy luxury homes in Somerset West, says Louise Varga, Pam Golding Properties area manager for Somerset West, Stellenbosch, Strand and Gordon’s Bay.


The result is that more properties in the R20 million plus price bracket are being sold in Somerset West than ever before. Now on the market exclusively through Pam Golding Properties is a remarkable eight-bedroom home with all conceivable conveniences, priced at R58 million.


The property is in Spanish Farm, one of Somerset West’s most elite suburbs on the slopes of the Helderberg, where almost every property has spectacular views of the sea and surrounding mountains.


A state-of-the-art kitchen flows into the dining and living areas, leading to a covered balcony. Upstairs, a luxurious main suite complements the four en-suite bedrooms downstairs.


Notable amenities include 2 cottages, a double garage with hydraulic lift, sauna, home theatre and a 10kw inverter system powered by 42 solar panels.


“Apart from local buyers and semigrants from other provinces and areas, foreigners – particularly those from Europe and the UK – have always been attracted to Somerset West. There are many German, Swiss and Dutch nationals living here with a number of shops now catering specifically for their tastes,” said Varga.


“They tend to look for luxury properties in secure estates and the increasing number of golf estates and eco estates which have been established in the Helderberg basin over the past few decades. However, Spanish Farm is still one of the most prestigious established suburbs – comparable to upmarket Bishopscourt in Cape Town.”


Somerset West is regarded as the business and residential hub of Helderberg, with its historic buildings, renowned wine estates like Vergelegen and Lourensford, some of the best shopping facilities in the Cape metropole, and excellent medical facilities.


With 73.1% freehold homes and 34.5% located within residential estates, a recent Lightstone report reflects a consistently strong property market in Somerset West, said Varga.





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