If you don’t live in Cape Town or own a luxury home in one of the city’s affluent beachfront areas, it is very difficult to understand how a single parking bay can be on the market for R1,5 million – and have a very good chance of selling.
Perhaps this seemingly ‘rich people problem’ is actually just normal and the rest of us will never truly be able to fathom it.
Still, when you apply some sort of logic, it is mind-boggling that a single parking bay – even though it is situated in upmarket Clifton and offers easy access to the beach, can cost the same or even more than an upmarket studio apartment in the Mother City or a three-bedroom house in an estate in another part of the country.
The open-air parking bay, situated on the rooftop of the San Michele apartment building in Victoria Road, is selling at a market-related price considering it also has private security and offers access to Clifton's First Beach.
“With limited street parking in Clifton, a guaranteed parking bay like this one is highly sought-after especially during Cape Town's peak-season in summer when thousands flock to the beach,” says Knight Frank South Africa marketing agent Richard Olotu.
“Parking bays are priceless and they are in demand.”
Due to the properties in Clifton not having their own bays, buyers are always available. Thus, he says the “property” will definitely sell. Experience has shown that they usually get snapped up for R1m to R1,2m as buyers negotiate the price as they do with any property. But R1,5m is “more or less” the correct market value in the area.
Bearing in mind that the average price for a home you can actually live in is just over 1,4m in South Africa, the question, therefore, is whether most people could actually justify spending this much money on a parking space for your car, when it could put a roof over the heads of themselves and their families.
And for those wily South Africans who may be wondering whether they could buy this prime Clifton parking spot and then erect a caravan or mobile home on it, the short answer is that you cannot. Thus, this parking spot can literally only be used to park a vehicle.
To help put things into perspective, IOL took a snapshot of properties currently for sale for either the same price as this Clifton parking bay, or even less.
Studio apartment in Zonnebloem, Cape Town – R1,295m
This studio apartment is offers city living in a central location and easy access to various amenities. Measuring 24-square-metres, it has a fully equipped kitchenette with a two-plate hob, oven, fridge, and dishwasher. The mezzanine level is large enough to store overflow suitcases and extra items.
“On various floors in the building there are zoom meeting rooms, conferencing facilities, and a chill-out television room. For the energetic there is a gym. The on-site coin-op laundry room is an added bonus,” says Knight Frank South Africa marketing agent Corinne Ras.
To watch the sun set over the CBD and enjoy a sundowner, the rooftop deck also offers barbeque facilities. The 'hotel-feel' of the building and 24-hour security makes one relax and enjoy this modern apartment block.
2-bedroom, 2-bathroom home in Bedfordview, western Ekurhuleni – R1,45m
Nestled in the heart of Bedfordview, this 2-bedroom, 2-bathroom first-floor unit is the epitome of modern, secure, and convenient living, states the Seeff Property Group. It is situated in a well-maintained complex with 24-hour security, and is in pristine condition.
Marketing agent Cheree Montano says the open-plan kitchen, adorned with elegant granite countertops, boasts a breakfast nook, making it the ideal space to whip up your culinary masterpieces or simply enjoy a casual meal.
“The kitchen opens up into a spacious living area, making entertaining friends and family a breeze.”
There is also a private balcony which allow for an effortless indoor-outdoor flow.
3-bedroom house in Glenmore, Durban – R1,5m
This three-bedroom, 1,5 bathroom house has a single garage which can be transformed into a student granny flat, as well as off-road parking for at least three cars.
It also has a spacious verandah with beautiful views and a spacious semi-open-plan lounge which leads into the dining room and kitchen, says Acutts marketing agent Anne Couzens.
The kitchen has plenty of built-in cupboards, granite tops, and a gas hob with electric oven. The aircon in the lounge area keeps half of the house cool and there is also an aircon in the main bedroom.
The property boasts two wooden cottages at the back that could also be turned into granny flats.
3-bedroom, 2-bathroom house in Melodie, Hartbeespoort – R1,5m
This double story house in a peaceful estate in Hartbeespoort offers an open-plan kitchen, dining, and family room on the first floor, and a garden that includes a family-sized pool, patio, and built-in braai.
Chas Everitt International Property Group agent Jenine Viljoen says the three bedrooms are on the second floor and that the main room has a full en-suite bathroom and a spacious balcony overlooking the pool.
“The second bathroom leads out onto both the second and the third bedrooms. All the rooms have built-in cupboards and two bedrooms are equipped with air-conditioners.”
City legislation regarding parking bays
Eddie Andrews, deputy mayor and mayoral committee member for spatial planning and environment at the City of Cape Town, says parking can be owned and managed in many different ways. Parking spots can be:
- on public land to be used either free of charge or with a charge
- in a managed parking area
- privately owned and developed as a parking garage for the sole use of parking, and either rented for short or long term periods
- owned within a sectional title scheme and rented or sold
There are also ‘on-site’ parking areas as part of parking requirements for specific developments. Developers sometimes have an over-provision and may rent out parking bays.
With the increase in momentum for tiny homes and mobile living, one may be forgiven for wondering whether it is permissible to park a caravan or mobile home on this spot – after all, it is a prime piece of concrete with easy access to the beach on your doorstep. However, Andrews explains that the use of land is regulated in terms of the development management scheme and may only be used for the purposes provided for in the zoning. Conditions of approval or, for example, a site development plan, can also regulate the use of the land.
“In practice a parking area and bays are designated for parking of motor vehicles only and must be retained for that purpose to comply with the rules...
“The use of caravans is regulated differently and, in general, the zoning scheme does not permit them to be parked in parking bays for living purposes.”
He does note though, that his explanations only provide direction on the general regulations regarding parking bay use and mobile home living, and do not necessarily apply to this particular parking bay as he does not have all the facts of this case or any legal context.
IOL Business