Century City is tops among 'new urban' buyers

Taken from the Canal Walk shopping centre, this picture shows the Grand Canal with The Island Club and the Protea Hotel in the background.The penthouse that is lit up with green light is one of the few domed penthouses in The Island Club. The bridge on the left links the homes in this development to the world-class retail and entertainment facilities in the shopping centre.

Cape Town's Century City has become a top choice for homebuyers in the market for the "new urban" lifestyle in a secure precinct that meets all their residential, retail, work and entertainment needs.

The area is rapidly becoming Cape Town's answer to Johannesburg's upmarket Melrose Arch, says Dante Fratti, area specialist for Chas Everitt International, who with partner Hilda Visagie has sold more than 125 homes in Century City in the past two years.

"This has grown into a real 'city within a city'," says Fratti, "offering residents a dazzling choice of shops and restaurants in the Canal Walk shopping centre, as well as a vibrant nightlife, recreation and workplaces right on their doorsteps.

"What is more, the area offers newly-built, luxury homes at prices that compare very favourably to those for the apartments in refurbished buildings in the CBD of Cape Town - which is seen to offer a similar 'new urban'lifestyle.

"One-bedroom apartments in Century City can be bought for around R750 000 while two-bedroom units cost from R950 000 upwards."

There is also strong demand, he says, for free-standing homes in Century City, but these are in relatively short supply. Prices vary according to size and location but a three-bedroom home in the ritzy Water's Edge development would cost in the region of R2,5m.

The 250ha Century City is bordered by Milnerton and Montagu Gardens, and contains several residential developments all designed to make the most of stunning views over the Intaka Island wetland, the sea or Table Mountain.

Fratti says there are now only scattered pockets of development land left and that most of these have been earmarked for mixed-use projects.

He and Visagie both joined Chas Everitt International in September last year, he notes, when they realised they needed the strong marketing reach of a top real estate company to expose their clients' properties to a wider national and international audience.

Article by: www.chaseveritt.com