Housing in Southern Africa January 2016

Housing

A zure on the Bay at Big Bay on the west coast of Cape Town is due for completion by May 2016. The well positioned residential development will offer 83 apartments, with most sold already, according to Shiraaz Hassan, Asrin Commercial Director. Pam Golding Properties are posi- tive that they will achieve full sell out of the units by the end of February 2016. Hassan says, “In terms of timing and placement of this development, we feel that these units have been well received because there is a scar- city of beachfront units.” He adds, “Buyers in the scheme have been attracted by the richly landscaped, sheltered communal courtyard area with pool,” he said. In addition, being close to the ocean and a stone’s throw from the Eden on the Bay retail centre, allows the Azure on the Bay

discerning investor to enjoy the best that the West Coast has to offer without having to drive anywhere. This has enhanced the investment appeal of Azure. Hassan says, “The Big Bay Wa- terfront is definitely set apart from many others when it comes to offer- ings within walking distance. Those who live here have many world-class restaurants on their doorstep as well as convenience stores and a good selection of boutique stores.” The beach is a popular spot for many and becomes a hive of activity, particularly in the holiday season. “It

offers pretty much all the lifestyle at- tractions that the Atlantic Seaboard does, at a fraction of the price, and without the frustration of a shortage of parking or congestedopen spaces,” says Hassan. The design of the building has been well-conceived, with its single basement parking area allowing di- rect access to units via a lift, and view corridors strategically placed so that each unit enjoys a viewof either Table Bay, the courtyard or the sea. “Many of the units have already gained 11% in value since the launch,” concludes Hassan. ■

January 2016