Despite the fact that residential property prices are often appreciating annually by over 10% in the more sought-after areas of South Africa’s high density precincts, in the rural and outlying areas the growth rate, if there has been any growth at all, sunk to below 5% in 2015.
Lotze says what really attracts people to Langebaan is that it has retained its warm, friendly village atmosphere.This is particularly the case when many of the properties in the outlying towns are second homes bought for holiday use and possibly for eventual retirement.
This is according to Sandra-Lee Lotze and Lana Auer from Rawson, who say the Cape West Coast town of Langebaan, located roughly 150km from Cape Town, is definitely such a town.
They say it has been estimated that over 30% of the properties here are second homes, and residential price rises are still a long way off the boom which it experienced in the pre-2009 era.
As a result, they say there is absolutely no shortage of stock, with over 1 000 homes for sale in Langebaan.
“Price stability has been the norm for at least three years now,” says Lotze.
“What this means for buyers is that Langebaan, although thought by some to be high priced by West Coast standards, in fact offers really amazing value.”
This five bedroom, four bathroom home for sale is situated in The Cove Langebaan. The home offers direct access to the beach, expansive living areas and a built-in braai. It is selling for R4.8 million - click here to view.She says the homes here are usually priced at roughly half of what similar quality properties would cost in the Cape Peninsula's central Southern Suburbs.
In general, Auer says freehold homes in Langebaan itself can sell at anything from R600 000 to R6 million, the more expensive units being on the beachfront. The bulk of the demand, however, is in the R1.2 million to R1.5 million category, she says.
For sectional title units, the demand is from R750 000 to R1.2 million, although here again certain units can be priced up to R5 million.
Considerable publicity has over the last three years been given to the initiation of the Saldahna Industrial Development Zone, but as yet its impact on Langebaan house prices has been fairly limited, says Lotze.
The new zone has, however, had its effect on rentals, and in this field she says they are now signing one to two long-term leases per month.
A fairly conventional two or three bedroom home on a long-term lease will attract rentals of R5 500 to R17 000 per month.
This three bedroom, three-and-a-half bathroom home selling in Langebaan has a lounge with a fireplace, covered patio and braai area and balconies with sea views. It is selling for R1.75 million - click here to view.Lotze says buyers in Langebaan come not only from Cape Town, but from fairly far afield through the whole of South Africa.
She says the factors which have over the years always made Langebaan so popular “are very much in place and still apply”.
“We have the finest winter climate in the Western Cape, our fishing, boating, sailing, kite surfing and lagoon kayaking are second to none and we have a wonderful range of restaurants, bistros and retail centres,” says Lotze.
“Over and above all this, however, what really attracts people to Langebaan is that it has retained its warm, friendly village atmosphere. This is something which immediately strikes those coming here from busier centres.”
She says their residents are always reluctant to leave, and those that do almost invariably later return.
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