The suburb of Big Bay, located on the northern edge of Bloubergstrand on Cape Town’s Western Seaboard, is seeing unprecedented demand for residential property.
This two bedroom, one bathroom apartment offers an open plan lounge, balcony and secure parking plus communal swimming pool, tennis court, squash court and club house. It is on the market for R890 000 - click here to view.
Pam Golding Properties’ (PGP) principal for the area, Emarie Campbell says agents in the area have sold 44 properties in the ten month period from January to October 2013, to a total value of over R88 million. That’s already well above their total sales for the whole of 2012 (31 properties at a total value of close to R68 million).
The demand continued unabated throughout winter, despite the fact that such coastal suburbs typically see a drop-off in sales during this period.
Campbell says demand is emanating from a mix of buyers, including investors looking to capitalise on rental opportunities and upcountry residents relocating from Gauteng who are attracted to the secure lifestyle offering. Interest from international buyers has strengthened on the back of the weak rand, while existing Cape Town residents who appreciate the laid-back seaside lifestyle also find the area appealing – especially those involved in water sports.
Big Bay remains one the most sought-after destinations for surfers, kite-surfers and wind-surfers and is also a family-friendly environment, with access to a good network of nearby private and government schools, medical care and shopping, she says. Recent upgrades in transport infrastructure have also improved access to the whole Western Seaboard area, reducing commuting times and alleviating some of the traffic congestion, she explains.
This apartment has two bedrooms, two bathrooms, an outdoor patio and a double garage. It is priced at R2 million - click here to view.
While Big Bay is a relatively new suburb, Campbell says it is maturing rapidly, with its numerous secure developments becoming more established, while vacant stands are being developed and the population is starting to see a shift towards more permanent residents.
She says while this shift has resulted in a decrease in available rental units, it is good news for the area overall, increasing property values in some developments and contributing to the sense of community.
“The area is now so popular that we have clients phoning ahead from Johannesburg to book their viewings even before they arrive in Cape Town, as well as increased website enquiries. And while in 2012 the most sought-after properties were apartments in the R1 million to R1.5 million price bracket, that range has shifted upward of R2 million this year.”
The area’s secure estates remain the most popular choice for many buyers, with particularly strong demand for three bedroom townhouses at present. Campbell says the Kingshaven development is popular, with many clients specifically requesting this estate above all others. She says the result is a shortage of stock – they simply cannot keep up with the demand in this estate.
This home offers three bedrooms, two bathrooms, an open plan entertainment area, access to a tennis court, club house, swimming pool and double garage. It is on the market for R1.85 million - click here to view.
Campbell says in the past year, PGP has also achieved the highest prices yet secured in Kingshaven – a R2.6 million sale in December 2012 and R2.5 million in August 2013, topping the previous record of R2.1 million.
PGP agents also sold all but one of the 28 units in Ocean Mist, which is now proving popular for holiday rentals and re-sales, with buyers attracted to its spacious open plan interiors and north-facing aspect. Eden on the Bay remains popular with young professionals who want to live right on the beachfront with easy access to shops and restaurants, while its upmarket penthouses appeal tohigher-end buyers, thanks to their good size, secure underground parking and excellent value for money, as well as unmatched views – prices for these units start from around R3.5 million.
The Big Bay Beach Club holds particular appeal for Gauteng buyers wanting a lock-up-and-go holiday pad close to the beach. Campbell says the range of facilities on offer at this development ensures consistent rental returns and its apartments are affordably priced between R1 million and R2.5 million.
“Another well-liked development is the upmarket Water’s Edge, which has just four vacant developer’s stands still available from R1.9 million. We expect these to sell by the end of the peak summer season.”
Those seeking larger family homes tend to favour estates such as Sandown Estate, Blouberg Hills and Dune Ridge, which offer sizable stands, spacious homes with good finishes and excellent security. Prices range from around R2.9 million to R5 million.
These estates are among the most popular with international buyers, with clients coming mainly from the UK and Germany as well as a few from Dubai.
Print
