24 Jul 2012
While the recent Billabong Pro surfing contest has focused the spotlight on ‘surf city’, Jeffreys Bay home buyers from Pretoria, Bloemfontein and Cape Town are finding this coastal town an attractive option for relocation. Agents report that home buyers from Pretoria, Bloemfontein and Cape Town find the coastal town of Jeffreys Bay an attractive relocation option.
According to Keimpe Weistra, area principal for Pam Golding Properties (PGP), three bedroom, two bathroom homes in Jeffreys Bay are priced from R550 000 and buyers from upcountry and the Cape are finding this an affordable and appealing location for permanent residence.
Weistra says this includes retirement buyers, the bulk of whom they find are moving from Bloemfontein.
“We find that home purchasers between 40 and 50 years of age are enquiring about good buying opportunities with a long term view to retire here. For a home with a sea view, double-storey houses with four bedrooms are priced from R1.6 million,” he says.
Weistra says they are noticing more and more interest from buyers in Gauteng who relocate to Jeffreys Bay so that the family can enjoy a quality lifestyle while the breadwinner commutes weekly to Gauteng.
Some of them are also planning for their retirement years living on the coast.
For those with families, there are good public and private schools in the area, amenities such as the new Fountains Shopping Mall and a 24 hour Polyclinic medical facility, while the Port Elizabeth airport is a 45 minute drive, making it easier for professionals, executives and entrepreneurs commuting to Gauteng, he says.
Weistra says properties also in demand include beachfront homes, with market-related prices in the R4 to R5 million price bracket.
They recently listed a beachfront home with four bedrooms – three en suite and a flatlet priced at R5.9 million, says Weistra, the large open plan home has an enclosed deck with Jacuzzi.
Beachfront properties such as this don’t come onto the market often and the demand exceeds the supply, he says.
Other properties that are sought after are those on retirement estates, such as Eedenglen Retirement Estate, which offers excellent security and frail care facilities and one can buy a three bedroom home with scenic ocean views priced at R1.85 million , he says.He says buyers are also looking at properties that fit into the distressed bank sales category, and as with any property on the market, those that are realistically priced sell fast.
Examples of bank repo properties sold by PGP include lock-up-and-go apartments at R690 000, three bedroom homes at R540 000 as well as a four bedroom home with open plan living areas and a sea view which sold for R1.68 million.
Buyers recognise the value in any price range, not only in the lower price brackets.
Weistra says a misconception has been created by those whose properties are listed on the market at unrealistic prices.
The fact that there are numerous properties on the market is not a true reflection of the market as many of these are overpriced and have been on the market for long periods, many of them for over two years, he says.
These have become ‘stale’ as potential buyers realise they are overpriced, he says.
“Probably less than 10 percent of these are instances where the sellers are really serious about selling or have to sell.
“When we are approached by sellers to list properties that are overpriced, we advise them not to go onto the market if they have unrealistic expectations and to back this up we provide market related valuations and advise on a marketing plan for the property.”
Weistra says as a result they are successful in selling properties in price ranges from R550 000 for three bedroom homes in Wavecrest up to R4 million for beachfront properties.
“We advise sellers to approach a reputable agent with local market knowledge.”
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