Antoinette Clark, broker/owner of RE/MAX Border Professionals, has noticed a definite increase in sales activity in comparison to 2009.
“Generally prices in the Beacon Bay area range from R700k up to R7 million. Many buyers are still feeling the effects of tight lending conditions from the banks, but there has been an increase in cash buyers and those with substantial deposits.”
Beacon Bay’s property growth has been especially noticeable in the lifestyle development concept with the introduction of mixed-use developments where buyers can live, work and play.
Townhouses, she says, are still popular types of property in the area, and correctly priced properties are selling at a good pace. “Unfortunately, many sellers are still expecting to achieve prices that they would have in the boom times. Reality is that buyers are looking for quality properties that represent good value for money and are in line with current market prices.”
While there are a number of new developments in the pipeline for the area, Clark notes that many of the developers of existing projects are giving buyers incentives to purchase. “This is in line with the fact that buyers are looking to get a lot more value for money from their property purchases these days,” she concludes.
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