The Cape's West Coast appeals to a cross spectrum of buyers, with its residential and retirement investment properties, not forgetting is dreamy holiday homes on offer.
Dominick Lodewick, Broker/Owner of RE/MAX Lagoon Estates says there’s been a boom in sales along the coast particularly in Langebaan as it offers all the things that buyers are looking for following the lockdown.
Situated on one of only two natural lagoons in South Africa, Langebaan is a perennial favourite with water-sport-loving Capetonians. It's a world-famous kitesurfing destination, offering close proximity to the West Coast National Park which draws visitors from around the globe during spring time. This diversity drives a bustling market for both holiday homes and short-term rentals.
“The majority of buyers in the area are looking for safety and security and homes that facilitate a lock-up-and-go or work-from-home lifestyle. Buyers also want to escape the busy city life and urban lockdown. They want a better quality of life and many are either semigrating or retiring to the area,” he explains.
SEE | West Coast’s Langebaan sees 'property boom' - Here's what you can expect to pay
However, according to local property expert and franchisee for the new Rawson Properties Langebaan office, Dirk Joubert, this little town is much more than just a holiday destination.
'One of SA's fastest growing metropoles'
“Langebaan is one of the fastest growing metropoles in South Africa,” he says. “We have all the modern amenities you could hope for, including a new hospital under construction, well-maintained public infrastructure, excellent schools, great restaurants and spotless beaches. This has driven solid property appreciation over the years – something we expect to see more of quite soon.”
According to Joubert, there are strong indications that the Cape Town cargo port will soon be expanding into Saldanha Bay Harbour. This, he says, would trigger substantial development in the region, providing a notable boost to the local economy and increasing demand for property in neighbouring towns like Langebaan.
“House price growth in Langebaan has been sluggish lately, most likely because of COVID-19 and the resulting decrease in tourism and general recession,” he says. “New development in Saldanha would go a long way towards restarting market momentum and getting appreciation back to the kind of levels we’ve seen in previous years – particularly when paired with COVID recovery and the return of international travellers.”
New construction already taking place in Langebaan suggests investors have caught wind of the town’s bright future. In the meantime, however, buyers can still find compact two- to three-bedroomed homes, townhouses and apartments for as little as R1.2 million. Mid-range properties with no sea views sell for between R1.8 million and R2.6 million. Those with views cost anywhere from R3 million to R15 million depending on size, features, luxuriousness, and the quality of their ocean vistas.
Most homes are spacious, with typical erven of 950m2, but more compact lock-and-goes are also widely available. Popular features include wind-sheltered braai rooms and double garages.
“As a general rule of thumb, the better the sea view, the more expensive the property,” says Joubert, “but we have gorgeous homes of all types in Langebaan, from bachelor apartments to small-holdings complete with stables.”
As for investment potential, Joubert says buy-to-let in Langebaan is a popular and often profitable option, with current low interest rates reducing the time it takes to achieve a positive cash-flow.
“Our properties offer excellent value for money, particularly for buyers from Cape Town and surrounding towns like Stellenbosch, Paarl and Wellington where properties are comparatively expensive,” he says.
Joubert does caution buyers and sellers to avoid “fly-by-night” agents, however, stressing the importance of using an established agency in a market still experiencing a noticeable oversupply.
SEE | Here’s why you should buy holiday property in Cape’s Langebaan
“Towns with a significant holiday-home market, like Langebaan, also benefit from an agency with access to a national network,” he adds, “as buyers come from all over, not just the local community. At the same time, you want to work with someone with hands-on local experience who can help you understand the macro and micro influences affecting your property’s sale. We are very proud to be able to offer both at our new Rawson Properties Langebaan franchise.”
Want all the latest property news and curated hot property listings sent directly to your inbox? Register for Property24’s Hot Properties, Lifestyle and Weekly Property Trends newsletters or follow us on Twitter, Instagram or Facebook.
Print
