Asrin forged ahead despite recession

The main factors differentiating those SA residential property developers who have remained active through the downturn from those who have temporarily or permanently retired from the property scene, says Shiraaz Hassan, commercial director of Asrin Property Developers are that the former were sufficiently well resourced to see them through, were able to forecast, identify and move with market trends and could find new opportunities – while others, often sticking to tried and traditional formulae, could not.

“We never for one moment allowed the recession to make us negative,” said Hassan. “Right now we are still marketing new projects.”

“It is true,” he added, “that sales at certain of the older developments have slowed but Asrin is having considerable success with its new schemes designed and priced for today’s buyer.”

Hassan quoted three examples: the first is Melkbosch Village, near Melkbosstrand, where 90% of the total of 468 homes developed over the last three years are now sold. The latest projects here are Camphor Close for two and three bedroom homes sold under separate title (at R589 000 to R629 000) and Coral Heights sectional title apartments (sold at the ultra low price of from R389 000 to R479 000).

The second is Nuutgevonden Village at Stellenbosch comprising 192 sectional title and freestanding units priced from R689 000 and R899 000 respectively.

At this scheme, said Hassan, within one month of the launch 65% of the 115 units in phases one and two have been sold.

The third is Somerset Country Estate where a re-launch of erven priced from R439 000 and plot and plan packages from R1 090 000 is also bringing in new buyers at the rate of three to four a month.

Success, said Hassan, is also likely to be seen at “Azure on the Bay”, the 83 unit luxury lifestyle apartment block about to be launched at Big Bay.

The units at this development will be coming on the market priced from R899 000 including VAT and transfer costs.

“This,” he said, “is an exceptionally low price for the Big Bay village where the average price for a two bedroom apartment is R1,8 million.”

Also likely to prove popular, said Hassan, is Asrin’s new Corndene on the Lake development at Albert Falls Dam near Pietermaritzburg.

The 151ha estate is the only one located within the Albert Falls reserve. It comprises of 150 plots ranging between 3 000 and 5 000m² in size. Prime waterfront sites will be on offer from R890 000 to R1,3 million including VAT and transfer costs.

The estate includes 29ha of private open space as well as a 32ha wetland area which forms a buffer along the boundary of the estate.

Public amenities at Corndene on the Lake will include a cricket oval, walking and cycling trails, two boat slipways, boat lockers, tennis courts and a gymnasium.

Article by: www.asrin.co.za