The property market in the Garden Route town of Knysna is clearly in recovery, with the number of home sales having increased by about 55 percent over the previous year.
This three bedroom, three bathroom home offers an outside dining area, a swimming pool, garden and two garages. It is on the market for R4.96 million - click here to view.
This is according to Peter Maré, Sotheby’s International Realty franchisee in Knysna, who says in the past four years, most sellers have adjusted to the new market realities, and buyers have responded positively to their lower asking prices.
At the moment, he says the majority of sales are not being made to buyers in search of second or holiday homes. They are being made to two main groups of new permanent residents – retirees who like the climate and the scenery and young families who are leaving the cities in search of a cleaner, safer and less stressful life in a smaller town.
Maré says demand among such buyers continues to rise as Knysna becomes increasingly self-sufficient, with its own large shopping mall, a private hospital and an excellent private school as well as a number of exclusive gated estates and marinas.
Nevertheless, he says the town has retained its allure as one of South Africa’s top holiday destinations, and with much of the surplus residential stock having been taken up by new permanent residents, there is a gap in the market for new developments to meet the needs of a new generation of holiday home buyers and investors.
This home has three bedrooms, two bathrooms and garaging for four cars. It is priced at R1.09 million - click here to view.
One such project is the Lake Brenton resort, situated between Knysna and Brenton, on the shore of the Knysna Lagoon and adjacent to the 150 hectare Featherbed Nature Reserve on the Western Head of Knysna.
“This is being developed as an eco-friendly holiday destination that combines sustainability, luxury and adventure, and where the buildings will have a minimal architectural and physical impact on the natural environment.” The resort will comprise a rehabilitated forest as well as a tennis court, clubhouse, games room, swimming pool and slipway into the Knysna Estuary, which is an ideal venue for many types of water sports.
The strength of interest in the resort is illustrated by the fact that more than 20 stands have already been sold. Prices range from R660 000 up to R3.38 million for waterfront stands. A show house has already been built to illustrate the architectural guidelines that have been set.
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