A bumper summer tourist season in Mossel Bay has had a definite knock-on effect in the local real estate market, bringing a slew of enquiries for both holiday and permanent homes and boosting sales activity.
This fully furnished apartment in De Bakke, Mossel Bay, has two bedrooms, two reception rooms and a patio. It is priced at R799 000 - click here to view.This is according to Chantelle Grard, principal of the Chas Everitt International franchise in Mossel Bay, who says the tourist attractions, especially the Blue Flag beaches, attracted huge numbers of visitors over the season, with tourism authorities reporting a 160% increase in visitor numbers in the most popular spots.
“We experienced a similar increase in the number of property enquiries and viewings hosted during this period, a strong indication that the local market has recovered from a 2013 slump which saw many investors looking to sell up and get out of real estate in this area.”
She says although Mossel Bay is primarily a holiday town, it is also home to many industrial and commercial companies whose employees need longer-term accommodation.
“Consequently, both our long-term and short-term rental markets are booming and because the 2008 oversupply, has mostly been absorbed and there is currently no new development, there are some good opportunities for buy-to-let investors.”
This three bedroom house in Heiderand, Mossel Bay, offers four reception rooms, a study area and a patio. It is on the market for R995 000 - click here to view.Grard says two bedroom apartments can now be bought for around R650 000 and three bedroom units for around R800 000, while prices for three bedroom freestanding units start at around R900 000.
“We are also finding that more managers in the 35-plus age group are being relocated to Mossel Bay by the big corporations that have offices in this area, and this is creating a healthy turnover in the freehold sector, where prices are higher.”
They have plenty of stands available at prices from R200 000, which represents really good value for people who want to build their own homes, or developers who see opportunities in providing homes that are affordable for first-time buyers.
She says Mossel Bay is also a sought-after retirement destination thanks to its excellent climate and good medical facilities. There is now an acute shortage of retirement villages with frailcare facilities.
“Although the Monte Christo village in nearby Hartenbos is relieving the pressure somewhat, there is a waiting list of 800 people for one of the Rotary retirement homes, so there is certainly also opportunity in this type of development,” says Grard.
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