News
2014

Mossel Bay market stages a great comeback

Published: Tue 24th February 2015
Author: Barry Davies

 

A bumper summer tourist season in Mossel Bay has had a definite knock-on effect in the local real estate market, bringing a slew of enquiries for both holiday and permanent homes in Mossel Bay and boosting sales activity.
 
So says Chantelle Grard, principal of the Chas Everitt International franchise in Mossel Bay. “Our tourist attractions, especially our Blue Flag beaches, attracted huge numbers of visitors over the season, with tourism authorities reporting a 160% increase in visitor numbers in the most popular spots.
 
“And we experienced a similar increase in the number of property enquiries and viewings hosted during this period – a strong indication that the local market has recovered from a 2013 slump which saw many investors looking to sell up and get out of real estate here.”
 
Although Mossel Bay is primarily a holiday town, she points out; it is also home to a lot of industrial and commercial companies whose employees need longer-term accommodation. “Consequently, both our long-term and short-term rental markets are booming and because the 2008 oversupply has mostly been absorbed and there is currently no new development, there are some very good opportunities now for buy-to-let investors.”
 
Two-bedroom Mossel Bay apartments can be bought now for around R650 000, Grard says, and three-bedroom units for around R800 000, while prices for three-bedroom freestanding units start at around R900 000.
 
“We are also finding that more managers in the 35-plus age-group are being relocated to Mossel Bay by the big corporations that have offices here, and this is creating a healthy turnover now in the freehold sector, where prices are higher.
 
“We also have plenty of stands available at prices from as low as R200 000 which represents really good value for people who want to build their own homes, or developers who see opportunities in providing homes that are affordable for first-time buyers.”
 
Mossel Bay is also sought-after retirement destination thanks to its excellent climate and good medical facilities, she says, and there is now an acute shortage of retirement villages with frail care. “Although the Monte Christo village in nearby Hartenbos is relieving the pressure somewhat, there is a waiting list of 800 people for one of the Rotary retirement homes here, so there is certainly also opportunity in this type of development.”
  
Issued by Chas Everitt International
For more information contact
Chantelle Grard on 082 422 1252
Or chantelle.g@everitt.co.za
Or visit www.chaseveritt.co.za
 

 
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