Wide range of holiday homes on offer in the fairest Cape
The Western Cape is gearing up for an influx of upcountry holidaymakers - and local estate agencies are preparing to cater to the demands of visitors who want to invest in holiday homes.
Chas Everitt agencies in the province report that there is a wide selection on offer - and discernable demand trends in specific locations.
Dean Meijer of the new Chas Everitt International offices in Hermanus and Onrus
says buyers in the area come predominately form Cape Town and Johannesburg and
their main aim is buying as an investment. "Upmarket clusters are very
popular at the moment due to the dearth of available homes
on the beachfront - and the high price tags on those that do become available.
Buyers focus mostly on new properties with the Hemel and Aarde estate being
a frontrunner."
He notes that sea views are still high on buyers' agendas. Prices range from R800 000 for properties without sea views up to R4-million for properties right on the beach. "We have also seen a marked increase of overseas buyers again thanks to the exchange rates currently favouring them."
Kobus Potgieter of the Chas Everitt International chain of offices on the West Coast says the region is experiencing growth in the demand for properties priced at between R800 000 and R1,5-million.
"Some towns along the coast still offer properties at around the R500 000 mark, but these are relatively scarce," he says. "However, property in the new developments which are mushrooming up here can be bought at reasonable prices.
"The West Coast is, with the exception of the Wild Coast, the last piece of coastal real estate that offers development scope, and we expect a massive influx as other coastal areas become over-developed and expensive."
Elmarie van Huyssteen of Chas Everitt International in Stellenbosch notes that the student town is enjoying a noticeable growth in tourism. "Many of these tourists enquire about investment possibilities and interest is expressed across the board - from holiday units to wine farms." More.
However, visitors attracted by bright lights rather than country delights are finding Century City in Cape Town's northern suburbs irresistible, says Chris Cloete of the Chas Everitt International Northern Suburbs franchise. "Century City offers entertainment, specialised boutiques, boat trips, saunas and gyms, restaurants and cinemas.
"It is also only minutes away from some of the most pristine beaches in the world, including Camps Bay, Clifton and Bloubergstrand, and it borders the Canal Walk shopping centre.
Fanie Lategan of the Chas Everitt International Western Seaboard office reports that the holiday market has played a major role in demand for local property, particularly in the high-rise luxury apartment sector on Blouberg' s beachfront.
"But with building costs rising, fractional ownership is becoming a trend since it gives buyers access to upmarket properties they would not be able to afford on their own while sharing maintenance costs with joint owners."
Andre de Villiers of Chas Everitt International False Bay agrees that fractional ownership is gaining in popularity but cautions that investors should ensure that any second or investment home is located in an area with an established or potential rental market.
"Buying a second home on the coast or in the country where local demand for rental units is substantial, such as the False Bay towns of Glencairn, Fish Hoek, Muizenberg, Kalk Bay, Marina da Gama and others, gives you a great lifestyle investment and a seaside home that can easily be rented out at attractive rates.
"False Bay rentals are still on the way up with demand exceeding supply. These properties are achieving better returns than those in the southern suburbs as the capital investment is in the region of 35 percent less," he says.
Issued by Chas Everitt International
For more information call
Andre de Villiers at
Chas Everitt Southern Suburbs on
021 673 1520
Or visit www.chaseveritt.com