Eco-friendly, affordable apartments now on sale in Parklands
High demand, supported by easier lending conditions, is driving the entry-level housing market in Cape Town with developers unable to keep up, according to property expert, Toni Enderli.
Echoing reports of buoyancy in the lower end of the property market in 2019 (property priced below R1.5m), Enderli predicts this trend will continue, adding that there is simply not enough stock to match the growth in this sector.
He said this demand was behind the launch of Ihlathi, the ninth entry-level gated community by International Housing Solutions (IHS), a global private equity fund focussed on affordable housing and offering one bedroom apartments from R689 999 to penthouse units at R1.2-million — including transfer costs.
Ihlathi (forest or greenbelt in Nguni languages), is located in Parklands, which Enderli says is one of the country’s most popular, integrated, well positioned and affordable suburbs.
Situated around a park and bordering a nature reserve, Ihlathi offers environmentally-friendly technologies which use 20% less electricity and water, excellent security and up to 10 percent annual capital growth.
IHS’s SA MD, Rob Wesselo, predicts the affordable housing market will continue to soar in popularity, particularly in Parklands which is less than 20km from the CBD and which offers easy access to schools, shops, work opportunities and some of the country’s most beautiful beaches.
Enderli, who heads up Realtor of Excellence, said Ihlathi is due to launch the first phase (60 apartments) of a total 381 units soon, available for occupation early 2021.