 Feel the passion I can legit feel the the luxury passion coming from you And I want I want us to talk now a little bit about the smaller developments that offer these luxurious services and and even Opportunities for people for younger people for middle-class people who to move into lifestyle estates even that provide some of these things that become communal, you know Are you seeing a rise of this happening in terms of? Luxury being broken down into smaller more affordable Compartments for for for the market to say and this is a luxury apartment. It's a two-bedroom apartment. It's a studio apartment What is happening in terms of that in the in the in the market currently? You are definitely going to have fun if you if you are property avid In or have interest in property. You are absolutely going to have fun on this part So tonight I'm talking to a Nasserine Musa who is the managing director at legendary investment properties We're going to be talking about the evolution of luxury property The luxury property market in South Africa and what lies ahead Nasserine. Good evening and thank you so much for joining us Thank you to Mo. It's lovely to be here today Thank you so much. You know, we are we talking luxury property and when I think my dream home It's definitely in the luxury property market there and maybe in a couple of years But it's it's it's one of those things that everyone wants to know and know about so that as they are planning their future as they're looking at these These these properties they know how to go into the market and how to potentially Invest in it. So let's talk luxury property market. How do we measure it? How do we know that this this particular property isn't the luxury property market or isn't the normal mainstream market? How do we differentiate? Legendary investments we believe that Luxury is subjective. It's a matter of opinion so imagine walking into a spa like bathroom or even a Dressing room that's as big as a shop. It makes you feel so loud. It's like a design of room Shopping tape a shopping room or imagine sitting in the hot huts enjoying the stars at night Enjoying a glass of champagne with friends round a firebird that for us is luxury At Legendary Investments we believe in curating a lifestyle that you desire That brings you opulence and international standards and that we don't see here in South Africa and For us bringing new things that are luxurious that we haven't got here Is what Legendary Investments is all about? We bring you we bring you the Experience of investing and enjoying that investment Nice and but particularly looking at These properties are this is it something that you can quantify according to price because I like the fact that you said Luxury is subjective, you know, but when we are talking benchmarking and we are talking Specifics is their price tag? That's that's attached to luxury to say the market begins at 17 million for example or at at 15 million Well, it would depend where it is. I mean if you're talking campspey. Yes, definitely if you're talking Up a claim on I mean, yeah, the prices are really expensive down here because it's a price of land But if you're talking the middle-class suburbs, no, you're not talking that expensive You're talking about 5 million. It's talking about 7 million You're talking about 10 million No, definitely and you already mentioned something there that that triggers my next question to say And is it based on location is luxury based on location when we are looking at how the market has been performing People think location is is important and we believe location is important in the property industry is is the location of luxury property important or Can you just look at it in terms of wherever the property is you can upscale it and maybe renovate it to make it the luxury property Absolutely not location is not important You Can have the most expensive location like in campspey, but you can have a home that is run down But you can have a home that's in the suburbs or in you know One of the outer areas, but it's actually luxurious It just means that it increases the price as it goes on Whatever you do to your home Increases you the price We don't believe location, you know plays a part in luxury No, I actually I love that because One of the other questions that I had was was you turning a home into a luxury luxurious apartment or luxurious property So from from what you just said now, I'm seeing that it's possible You know that you whoever you are wherever you are because one of those pertinent questions was and can you change it? Township property even in a city Property and turn it into luxury and from what you've been saying in terms of it's about the features of the home and not necessarily It's location or the price is the features that equate that that make The property luxury because it plays with the valuation of the property and what you have done to it That really just extended. So let's talk a bit on The trends that you guys have seen over the past to ten over the past five to ten years That have happened in this space. What are the like the pertinent? Trends that you guys are seeing that are upcoming that are notable to say in the luxury Target market or even in the markets. This is what is currently happening Well, we're seeing More people are investing in luxury property in the US It's gone from ten percent to thirty six percent and with an amount later. It went to fifty five percent In the UK, the stats have gone up. It's increased to about by about fifty nine percent nine percent of that is the countryside where people just want the kids to run around enjoy the greenery Have the home office as well as spend time with their kids at the same time and So and They've had 237 deals during covered alone for homes over five million pounds And that's what we're talking in the UK in South Africa. We're seeing 80% of us being South African buying into you know living here and 20% Non furnace but because of the luxury market here, which is slowly starting to rise We're seeing it go from 80 to 60% South Africa and 40% non-South African residents And does it depend on the style of the house because you know people have different styles and as you said like luxury is very subjective Does it is it dependent on the styles of of the individual because some people will go Like extreme Tuscany or some people will go very modern in terms of adding very technological improvements to their home, you know, does it that it's is it dependent on the style as well? Yes, it does And If the home looks Tuscany on the outside You don't want to walk in and see a home that looks absolutely modern on the inside You want to see it still bring about the features from the Tuscany era If the house looks, you know Victorian on the outside you want to still have certain features that bring in the Victorian Elements into it or if it has this Parisian look, you know, you want to walk into the house. It still has a farm style kitchen That's Parisian, you know You want to see all the different things that showcase so the outside should showcase the inside definitely Yeah, no, um, I see I think I think we had a poll just not too long ago on the podcast and we were asking people What kind of house and they would like and I think we're talking building and most people were like, oh I really would like the Tuscany or I would like the I would like the modern and um from what you were saying It really shows that you know taking out that a little bit of effort, you know in in putting those features in the house So also really um ups the ante when it comes to looking at your house and I wanted to really now talk about valuations in terms of how this changes your value and How how also investors can use this as as an investment strategy? So when we are looking at values of house and of properties and the homes How do we how do we ensure that? We we do improvements to the homes that will increase the value. What are some of those things that we can do? You can do absolutely anything to your home to increase value But the most important thing is maintaining your home because if you don't maintain your home You can you can decrease the value of your home um having a very good architect and interior designer can help you In a lot of ways because they would be able to come in and help you create A lot of different trends to kind of bring it through Through the house actually So, yeah, those are two people to actually look into I have A very good team behind me an architect who helps me a lot And I've got an interior decorator that helps me a lot And some of it just comes from my very own style So what you like is what you should put in your home because sometimes We find ourselves very uncertain about the things we add into our homes But the simplest things as doing something as a kitchen It does a lot to the house. Yeah If you just joined us We are talking the evolution of luxury prop of the of the luxury property market in South Africa and where it's possibly headed In the near future and i'm sitting with nesrin musa who's the managing director at legendary investment properties So nesrin just talk us through some of the projects that you've been working on recently and lately And what are some of the things that the people in the market are looking for if someone comes to you Or or maybe the past two or three projects that you've been working on. What are the clients looking for? What are the what are the things they constitute as luxury? So One of the projects that I was working on we're almost complete on it is an apacheal worth Um, it's six london townhouses. So it's other sweet stories But what we're doing is we're giving people more space Because that's where people went Um, they want the space to enjoy the living areas. They want the space to enjoy the outdoors The pool the splash pools in the summer So that was one of the projects that was more middle income Now I am doing currently i'm doing a luxury project in apatema Which showcases all the private schools here. I mean you have the best private schools here for for girls boys co-ed You know everything so um a 19 on 2k is a home that Each home is different to the other So if you walk into one home, you're actually showcasing a beautiful pantry that showcases your dinner Your dinnerware your champagne glasses your wine glasses your You know your dinner sets If you walk into the other room You have a controlled wine cellar where you can actually enjoy your expensive wines with friends and sample them with a cheeseboard Or even sit down there and have dinner You know a simple dinner with like a really elegant like romantic dinner um The third one would be you know a his and her walk in bathroom as well as closet and Let's admit it as for them. We all want our own closets Showcase Or just handbags and our sexy shoes and everything amazing and I see you are There are a lot of men that are Becoming more trend conscious in their dressing and want to showcase their designer belts or their designer cufflinks or Even their designer watches um And even a movie theater in the house So you can enjoy the movie theater as a family or even with friends with the numbers of covid rising You want to just have friends over and be normal and experience the normality of life And 19 on 2k brings you that with a security guard 24 7 brown the clock So lead at legendary investments. What our next one is going to be is showing you um Something different towards dieting on 2k We believe in curating the lifestyle that You can invest in and bringing you all the international standards That You watch on tv or instagram and you don't have them So something like nfl courts, obviously we don't do nfl. So I would say cricket, you know Simple thing as a small cricket pitch or a soccer pitch or Well tennis courts have been done in dusted for so many years Some of the tennis courts are even being dilapidated because no one's using them So things that people can use to create an atmosphere and a vibe That is what actually is for us Is just enjoying being together You know, as you're talking I can I can feel the passion I can legit feel the the luxury passion coming from you And I want I want us to talk now a little bit about the smaller developments that offer these luxurious services and and even opportunities for people for younger people for middle-class people who to move into lifestyle estates even that Provide some of these things that become communal, you know Are you seeing a rise of this happening in terms of Luxury being broken down into smaller more affordable Compartments for for for the market to say and this is a luxury apartment. It's a two bedroom apartment. It's a studio apartment What is happening in terms of that in the in the in the market currently? We're not seeing that in South Africa. We're not seeing it at all in South Africa We see it as in Maybe a pool in the complex or maybe a jump can there But it would depend on the price tag. Yes, so No, we're not seeing anything coming up in that sort of markets and and when we're talking when we're talking, um Luxury right a lot of people a lot of myths that that that That exists around here is that people They just inflate the prices so that you could get this very same thing In a different place and the prices just inflated What would you what would you say to nullify this myth and to actually just to to to show that This is is more than just a price tag that is attached to to you buying a rug or changing something And it's more of of you increasing value and increasing the opulence of this particular property so If you're talking about camp step Yes, I would say luxury is expensive there the land price to learn if you look at it is like Really exorbitant, but if you're looking at something as you know Ronda Bosch I'm talking in Cape Town. I'm not sure about the suburbs in Johannesburg. So um For me halton would be the most expensive Uh suburb. I'm not sure whether there's something more expensive than halton in Johannesburg But if you're looking at Cape Town, Ronda Bosch is the more simple um You know middle-class suburb that people live in And there you can add luxury, but the price tag would just be your home is valued at more not the land Whereas in camp space adding luxury also means the price tag of the land So there's a correlation between the the land price And luxury as well as the land price and your home Not definitely So let's let's let's give property investors inside now because we we're really talking in terms of you Buying and living in this property with property investors What strategies can they use in order to leverage off this luxury market? What what sort of things should they start looking out for if they haven't done so really that can help them increase their portfolios? And if they already have These properties pivot them to ensure that they make more money out of these portfolios With electric markets, you can you can never go wrong. So if you've got a swimming pool conversation put dinner, you know, um A theater movie theater actually is what I'm talking about um a conversation put uh Tennis courts These all are things that never goes wrong with the property and maintaining your property is the most expense The most important part of it because if you don't maintain your luxury property the rates for your property value Decreases it's like a Bentley You buy this car you scratch it You know The value decreases so it's the same with a home and a luxury home Sure And is is there specific strategies that they can use apart from maintaining it or In terms of putting it on the market are there specific services that Your your organization offers in order for them to be able to to to even let these properties out You know to increase the investment or to even Get get get the the property to grow in value that is Property always increases you don't need to do anything to your property as long as painted it always increases That's what I found. I mean I bought to home five years back and When I sold it I made a profit out of it simply because I maintain the home and Property always increases you can never go wrong with their selection of property or whether it's even a normal property You can never go wrong So in the next coming years 10 to 15 years from now even three What are we expecting to see in the market? What what new trends are coming up? Are there any technological advancements that This this particular segment in in the in the industry is now adopting in order to To really grow and to even pivot. What are some of those things that The luxury market is doing to ensure that it grows and it gets more people to to start buying these properties And buy or sell depending on what they would like to do Well, we're seeing that the more luxury houses have You know, they have roller blinds that are you know, you touch your phone and simply The roller blinds, you know pick up or drop as you needed to I mean, we're seeing that the lights in the house can be done simply by using your phone We're seeing security um for that matter on your phone And we'd like to take it even a step further We just need to see what america comes up with or uk comes up with or even the chinese because they're always technically advanced um And the ua e they have the most amazing properties design architecture Everything so we just have to watch what the trends are overseas to bring them down to us um And at legendary investments, that's what we leave and creating a lifestyle that brings you the international standards that you desire sure Got some questions that popped up from social media, which I think that we can take just before we close the conversation tonight um Anna Ahmed is asking does legendary um investment offer these services I'm guessing you speaking to the services that you were talking to earlier in terms of your your architect and your interior designer So does your organization um offer these services? We don't offer the architect and the interior decorator, but we do offer building from scratch all right Thank you so much for that and then any holds is asking While she's first commented and says love the different trends and our outdoor theaters becoming more popular in south africa From from the trends that you had you you have been seeing over the past couple of years Well, thank you any, um That is something that I want to do in my next development. Um, so I'm hoping fingers crossed None of the residential developers out there listening to those podcast But that's something I'd like to try and can't stay hopefully yeah sure and you know with with With luxury property like this. Well, what happens in the case where? You for example, I have an idea that you know that in the industry. This is how You pivot the house so you get it luxury and the client is not really inclined What are some of those things that you guys do and this is just by the way to to show them that this is the way To go in the in the luxury property market because I'm sure not everybody who wants to to improve their homes Comes with a really made plan, right? No, no one comes with a really made plan It's as you go along if you find that you and The buyer can't agree on things you've got to find the middle ground where you can find something that she'd want Um, it may be in another home and you could change it for her So that she could have what she wants at the end of the day because you always want the person that bought the home Enjoying the the process of creating this home their dream home I mean for me, I was looking for my dream home and I couldn't find it So I believe in creating my own dream home and I want to offer the same thing to people out there who Don't have the time to create their own dream home Not definitely so. Um any last words before we wrap up the conversation tonight Um, not really, but it's been really good talking to you to mo and I hope to get Chatting with you again soon Maybe not about the luxury market, but maybe I'm in a different market this time. Yeah, no, definitely Thank you so much for taking our time to talk to us and really appreciate it. Have a good night You too. Thank you so much. Good night And that is how we get to the end of the conversation tonight where we are talking the evolution of the luxury property market in South Africa And it's trends. So you see the trends are going more technological. They're going more technologically advanced You know being able to switch on your lights, you know, maybe even start warming your dinner before you get home Or maybe even put making sure that as you watch those podcasts You're watching it in a beautiful theater in your home with your friends and family Thank you so much for joining us tonight and have a beautiful evening till the next time we see you Have a good one