|
 In
a softer property market cluster homes stand out as arguably the most
solid choice for buyers right now.
Gerhard Kotzé, CEO of the ERA South Africa property group, notes
that there is no separation of statistics on residential property sales
to support the view that clusters are the strongest selling niche in
the property market.
“However, anecdotal evidence from our agents suggests that demand
and values in this niche are indeed the most robust at the moment.
“The reasons for this are fairly easy to identify. Probably top
of mind is security coupled with affordability and lock-up-and-leave
convenience.”
Cluster homes have become universally popular.
He adds that clusters readily meet the needs of different demographic
sectors from the lower end of the market across the spectrum to the
ultra luxurious. Accordingly, this category of property, which initially
catered for the lower end of the market, has become universally popular.
Other factors driving this sector have to do with the trend towards
greater densification by municipalities to facilitate services and the
scarcity of affordable development land, which obliges developers to
maximise available space. Also, ownership is via freehold which is arguably
less restrictive than sectional title.
“A health warning however — some newer cluster home developments
are not always of good quality and buyers should be selective in their
choice of developer and development.
“Check the financial soundness of the cluster developer, particularly
if buying off-plan and do your homework on future infrastructure plans
for the area you are keen on — new highways or the potential for
land invasion and low cost housing development can impact on values.
“Other aspects are levies, which are generally quite moderate
in cluster developments and the other conventional buying ‘hot
buttons’ such as access to amenities.
“I feel it’s important to buy into a community with which
you identify. Cluster living, by definition, involves concentrating
a greater number of people in a given area and friction can occur where
your fellow residents are not in keeping with your desired lifestyle.”
|
