JSE-listed national property developer, Balwin Properties, has earmarked the Western Cape as a future region of growth and expansion, having already developed and sold more than 2,200 apartments within the Western Cape; its vision is to deliver 1,000 more homes each year. This will be achieved through developments planned for Gordon’s Bay, Somerset West and Sandown.
“The Western Cape is a phenomenal location in South Africa and continues to be one of the leading destinations for semigration, migration and foreign investment,” said Steve Brookes, CEO of Balwin Properties. “This year alone saw around 488 apartment sales in the Somerset West area with a large influx of owners between the ages of 18 to 35 years. StatsSA recently revealed that between 2016 to 2021‚ the Western Cape will in all likelihood be one of the main provinces to see the largest influx of international residents, with an expected increase of 311‚004.”
Balwin’s strategic focus will be on the Paardevlei Precinct within the Somerset West region.
“We have identified the Paardevlei Precinct as one of the prominent and affluent areas within Western Cape as it offers easy access to world-famous wine farms, top-quality schools, it’s merely minutes away from Cape Town International Airport and the University of Cape Town,” said Brookes. “With the property prices exploding in the centre of Cape Town where apartments go from R2m to R15m, we understand that families and students in Cape Town and outside, as well as international investors, are looking for something more affordable, yet close to all the popular and necessary amenities.”
Paardevlei Lifestyle Estate offers 3-bedroom, 2-bathroom modern apartments from R1,899,900, boasting elevators, basement parking and private gym, concierge, laundromat, restaurant and swimming pool.