12 Apr 2013
Cape Town’s South Peninsula, including coastal towns such as Muizenberg, Fish Hoek, Noordhoek and Kommetjie, has been sought after for its relaxed coastal lifestyle, value-for-money homes and healthy outdoor environment.
This combination attracts a mix of local, upcountry and international buyers, for full time residence and for holiday or retirement purposes. Pam Golding Properties (PGP) reports that its South Peninsula agents had a busy peak summer season (December 2012 to February 2013), with the towns of Noordhoek and Scarborough seeing high levels of sales activity.
PGP’s area manager for the South Peninsula, Sandi Gildenhuys, says the area offers a home to suit nearly every taste and pocket, from entry level apartments and cottages to family homes, retirement villages, luxury mansions and sprawling smallholdings. She says that different nodes attract different types of buyers. For example, Noordhoek is popular with equestrians and artists, Fish Hoek tends to be a sought after home for retirees, and areas like Capri and Faerie Knowe attract young families.
She says the local infrastructure offers anything one could need in the way of schooling, shopping, medical care and restaurants, without compromising the sense of peace and laid-back coastal living. Affordability is another factor drawing buyers to the area as there are property options available for under R3 million, and Gildenhuys says this is where they are seeing the most demand at present, with many properties in this price range selling within their first week of listing.
One of the areas seeing a run of popularity is Noordhoek, where PGP agents sold residential property to a total value of over R43 million in a 10 week period ending in late February (2013). These included a R16.5 million sale to a Capetonian, as well as a number of homes sold to buyers relocating within the village. There was also significant interest from buyers from Johannesburg, Pretoria and Nelspruit.
Gildenhuys says while activity levels have been highest in the lower price bands, there has been a notable upturn in enquiries above R3 million. She says they have a number of prime top-end properties on the market at present, including an elevated five bedroom home with panoramic views which is on the market at R11.995 million, and several plots in the Chapman’s Peak Estate, where prices start from R3.5 million.
She adds that many residents choose to spend their whole adult lives in the Noordhoek valley. They may start with their first purchase of a modest apartment, or a small cottage, then upgrade to a larger home on more sizable grounds as their family grows. She says as they establish their careers, some may upgrade to agricultural smallholdings where they can keep their own horses, or large villas with panoramic views and extensive grounds. There are two retirement villages to choose from in the valley, both offering a healthy lifestyle with a wide variety of hobbies and communal activities, and frail care facilities. "Once you fall in love with the Noordhoek lifestyle, you never have to leave,” Gildenhuys says.
For those who want a remote location in a non-commercialised environment, the village of Scarborough remains popular. Once dominated by retirees and holidaymakers, it now has a substantial permanent population, including a number of young families who have gone there for a wholesome environment for their children. Scarborough has 650 properties and can't expand beyond this, due to its natural boundaries – the Cape Peninsula National Park, Baskloof Nature Reserve, mountains and ocean. The village has a friendly community atmosphere with a strong emphasis on living close to nature.
Gildenhuys says during the peak summer period PGP agent Marianne Furlong sold over R13 million in residential property in Scarborough. The bulk of these were sales to South Africans, with just one international buyer.
Prices in Scarborough start from around R650 000 for vacant erven, while small bungalow style homes are priced from R1.5 million to R2.5 million and larger family homes from R2.5 to R4 million. There are also top-end homes priced from R6 million to over R14 million.
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