Plattekloof cornering the market for self-made professionals

Plattekloof cornering the market for self-made professionals

Plattekloof is popular with entrepreneurs and young professionals.

Local experts say Plattekloof on the slopes of the Tygerberg hills is fast becoming the place to be for those in the know.

“Plattekloof has caught the eye of South Africa’s self-made entrepreneurs and young professionals,” says Louis Taljaard, sales manager for Rawson Properties Plattekloof and Bothasig.

“We’re seeing a lot of very wealthy entrepreneurs and up-and-coming professionals opting out of the old-school southern suburbs in favour of the convenience, lifestyle and unparalleled views that we get here in Plattekloof.”

Views are certainly one of Plattekloof’s biggest selling points, with vistas stretching across False Bay all the way to Table Mountain and Robben Island from higher erven. Backing onto the Tygerberg Nature Reserve the suburb also offers an abundance of nature and outdoor activities, while its central location and direct freeway access put Plattekloof within easy reach of the airport and several thriving business hubs.

As for local amenities, Plattekloof is a short drive from many excellent public and private schools, including Edgemead Primary and High, Panorama Primary, Riverside College, Reddam House, Abbotts College and Curro. Between Durbanville and Century City, residents’ shopping, eating and entertainment options are also plentiful, while their healthcare needs are covered by the highly-rated Mediclinic Panorama and numerous local doctors.

It’s not just Plattekloof’s surroundings that make it such an attractive, luxury suburb, however. The homes themselves – most of which are less than 15 years old – are also a big draw to this increasingly popular neighbourhood.

“We have a wide range of properties in Plattekloof, but they all tend to be spacious, modern, well-maintained and attractive,” says Taljaard. “It’s unusual to find houses on less than 500m2, and most have four or more bedrooms with garaging for two to four vehicles. Indoor and outdoor living areas are generally large and well laid-out for entertaining, and we have plenty of mature trees to add shade and soften the skyline.”

Of course, Plattekloof’s growing reputation and increasing popularity means its properties aren’t going for a song these days. In fact, Taljaard’s franchise has reported a median sales price of R7 million in the area, since the beginning of 2019.

“On a wider scale, we’re seeing average freehold prices in Plattekloof ranging from R4.1m to R7m,” he says, “but the present median, after 18 sales so far this year, has been significantly higher. There are definitely more affordable options, particularly lower down on the slopes where the views are less spectacular.”

While strong appreciation has pushed Plattekloof’s prices into Cape Town’s mid to upper ranges, Taljaard says growth has now settled on par with inflation, and overly ambitious sellers are struggling to find buyers.

“I think buyers are being very cautious in the lead-up to the elections, and are holding off on large, lifestyle investments like luxury homes,” Taljaard says. “Those who are buying are typically well-informed people who are quick to spot overpriced properties and aren’t going to be fooled into overpaying for a home.”

Taljaard also reports increasing numbers of buyers choosing to consolidate several property investments into a single, high-value primary residence in Plattekloof.

“Several buyers have voiced concerns over the risks of owning secondary, under-utilised properties with expropriation talks still ongoing,” he says. “We’ve had a number of sales where buyers will offload two or three smaller, holiday or investment properties to buy a single, luxurious Plattekloof home.”

These buyers could soon have competition from upcountry, however, as Taljaard predicts an increase in people moving from Gauteng towards the end of this year.

“We already have a steady stream of professionals moving down to the Western Cape from Gauteng, and I think that’s going to increase in the wake of the general elections,” he says. “Plattekloof’s appeal among entrepreneurs and self-made businesspeople puts it in a good position to capture that affluent, upcountry market.”