Plettenberg Bay has experienced a dramatic improvement in its economic fortunes in recent months, and a positive spin-off for its real estate market.
This 1 307sqm vacant stand in Schoongezicht Country Estate offers elevated views of the Bay. It is on the market for R880 000 – click here to view.This is according to John Fuller, owner of the local Chas Everitt International franchise, who says the profile of the town has been lifted recently with four of its beaches being awarded Blue Flag status, the local airport having been reopened and some spectacular new developments being brought to market.
He says the demand for homes is now at its best since 2005, and they are expecting real price growth for the first time in years in the wake of the current influx of semigrants and retirees.
Buyers are looking to relocate to Plett from other provinces because it has a rare combination of small town values and big city standards. It is also a popular choice for European buyers who visit between October and March each year to enjoy the wonderful climate and huge range of natural attractions that the area has to offer.
Traditionally, Fuller says Plett has been the top holiday destination for captains of industry, international entrepreneurs and the polo set, as there are 13 polo fields in the area. However, it has now become much more accessible with almost daily CemAir flights to the OR Tambo International and Cape Town International airports.
This home offers four bedrooms, four bathrooms, a fitted kitchen, fireplace, underfloor heating, a wraparound patio and garaging for two cars. It is priced at R3.95 million – click here to view.“In fact, one of our clients is an actuary who commutes between here and London.”
Fuller says at the moment most buying activity is taking place in the R1 million to R2.5 million price range. He says above that there are buyers, but their interest is largely focused on the newer areas and estates that offer secure living and contemporary home designs, and not on ‘old Plett’, except for homes in prime locations with outstanding views.
“And security and convenience, laced with luxury, are what’s on offer now at Lynnwood, the latest development in the Goose Valley Golf Estate,” he says. “This estate is a financial success story like no other on the Garden Route, and Lynnwood is a great addition to the popular Turtle Creek and Fairway Close developments.”
Building your own home in Plett is also still affordable due to relatively low local building costs, says Fuller.
Vacant stands priced at between R350 000 and R750 000 are available at the established Schoongezicht Country Estate, and you can build for between R8 000 and R12 000 per square metre if you choose the right builder.
There are also stands available at Whale Rock from around R450 000, and 1 500sqm stands in Brackenbridge at prices from around R1.3 million, he says.
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