British villa ‘Love Island’ in South Africa is on sale for a cool R105m
Cape Town’s exquisite landscapes and world-class real estate have served as the backdrop for many international films, high fashion photo ops and reality TV shows for years.
Since then, the demand for owning these properties has increased. One of these properties currently on the market is the highly regarded UK. Island of love villa, perched on top of a hill in the leafy suburb of Constantia.
The island of love‘ villa in South Africa
At 14,500 square feet, the villa boasts a four-person pool and hot tub, not to mention the stunning views, as reported Property24.
The current Italian owners have enlisted the help of prominent Cape-based architect Jon Jacobson of Metropolis Design to transform it into a gorgeous and glamorous sprawling mansion. Constantia is one of the more expensive suburbs in Cape Town and South Africa and is a popular area for celebrities, politicians and royals who have in the past rented vacation homes or owned property. here.
The most famous has to be Earl Spencer’s House which is located just down the road from the Love Island Villa. This is where his sister, Princess Diana, visited often and which sold in 2020 for over 53 million rand.
The Love Island villa is listed for R105m and is part of the recently launched portfolio, Amazing Spaces Lifestyle Investments.
Co-founder, Julia Finnis-Bedford has specialized in film houses for over 20 years and has a keen eye on what makes a property amazing by pairing some of the world’s best directors and photographers with homes that match.
The value of prestige
“Across the world, real estate, previously owned or rented by celebrities, royals, politicians or industry moguls, is often more expensive per square foot due to the luxurious interiors and the attention to detail that you will often find there. The mere fact that they belong to someone famous can influence the price, ”says Finnis-Bedford
“However, while the prestige of owning such a home may cause some investors to spend more, it is also possible that you could get a good deal, depending on the market value. Homes owned by famous owners are also known to influence the prices of neighboring homes and in Hollywood this has long been a strategy for investors looking to rent or remodel homes adjacent to one of these famous homes.
The Love Island villa was not only the home of the heroes of the hit reality TV series, but Miley Cyrus was filmed in the house for an episode of Black mirror. Other movies to use this amazing house include the Netflix TV series Kissing cabin, resident Evil and Origin.
Art and architecture
Finnis-Bedford says investing in designer and celebrity real estate is very similar to investing in rare works of art.
“The two share a deep connection in that they are united by design, their designers and their individual meanings. Just as artists fashion an object to visually express a complex set of ideas, which the audience interprets, an architect creates spaces that are important beyond their functionality.
“So important historic and architectural houses attract more than your real estate market, they also pique the interest of the design crowd. These types of investors carefully consider the architect, the heritage of the house, the importance of its location, the scarcity of architectural elements present, and the rare materials used in its construction. Property types are definitely not average and will hold and increase in value over time.
Global post-pandemic real estate trends
“There is a growing trend for properties that can improve quality of life. Buyers are looking for high-end designs with open spaces that bring the outdoors in, custom kitchens fit for a queen with high-end appliances, huge floor-to-ceiling windows with stunning views and smart technology. », Adds Finnis-Bedford.