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Vacant land in Hout Bay now hot propertyLand for sale is running out on the desirable coastal strip along Cape Town’s Hout Bay, with a record price of R8.75m for a 1 387sqm plot in Tarragona.Hout Bay’s laid-back village homesHout Bay offers a wide range of property options, from start-up apartments to housing and equestrian estates, with entry-level starting at R700k. Luxury property market: What sets it apart is more than price What sets the luxury market apart is its independence from broader economic trends and understanding what drives this market requires looking beyond the numbers to the intangibles that define true luxury.