A Cape Town property company called Amazing Spaces Developments has launched its first residential property development in the luxury lifestyle estate, Sillery Oaks in Constantia, Cape Town.
This property located at 4A Sillery Avenue, is a 406m2 double storey home that was built on an 850m2 erf, and consists of four bedrooms and three bathrooms, with a separate one bedroom flat above a garage. The style is contemporary farmhouse incorporating a classic mix of old and new with a modern twist and is selling for R 13 995 000 excluding VAT. Luxury properties priced around R15m and above are making a comeback in the Western Cape after the residential property bubble burst there amid the pandemic and a weak South African economy.
Amazing Spaces was formed as a company that found locations for film productions but now a development company has been spun out of it.
Properties in Upper Constantia, an upmarket suburb of Cape Town, South Africa have been experiencing a boom since 2021 with semigrators and international buyers driving much of the demand. Wealthy boomers and millennials are also snapping up properties but appear to be moving away from over-sized houses with sprawling lawns or older properties that require updating. Buyers want move-in-ready homes.
According to the Coldwell Banker Luxury Report 2022, the global affluent are opting for newly constructed homes that are modern and fully kitted with appliances, and sometimes even with furniture.
Julia Finnis-Bedford, founder of Amazing Spaces Developments, said creating a development arm was a natural step for her business.
“Having worked with international film crews and some of the world’s top photographers through my locations company, Amazing Spaces, I have 22 years’ worth of experience knowing what people want in the high-end luxury property sector. While we are spoilt for choice here in Cape Town, I can see that properties are becoming outdated. The demand for new builds is increasing so it made perfect sense to launch Amazing Spaces Developments and seek out beautiful properties upon which we can build brand new homes,” she said.