21 Nov 2012
If last year’s visitors statistics into Cape Town is anything to go by, then landlords looking to capitalise on the demand for short-term rentals is in for a bumper tourist season.
This is according to Seeff Atlantic Seaboard managing director, Ian Slot who says already, their holiday and luxury villa rental agents are inundated with enquiries and about 80% of the short-term rental properties on their books have already been let for the summer season.
There is a desperate shortage of leisure stock, especially in the luxury sector, he says.
According to Cape Town tourism, visitor arrivals into the Mother City over last year’s holiday season was up 17.1% in December 2011 with an overall increase of 14.5% in the last quarter of the year. More than 80% were holiday makers and about 4-5% business visitors. It also noted an increase in visitors to the city’s main tourist attractions including the V&A Waterfront.
The city is a favoured holiday destination not only for visitors from within the province itself and other inland provinces, but especially from the greater Johannesburg metropolitan area and from abroad, the largest numbers still coming from the UK and Europe, says Slot. The holiday and short-term rental market is consequently an important element of the city’s property market.
The lure of the city is obvious - some of the most beautiful Blue Flag beaches in the country, trendy cosmopolitan hot spots, water sport and adventure, culture and history, the surrounding coastal villages and the winelands for day visits.
While the majority of visitors opt for rentals in the more affordable sector at daily rates of between R2 000 and R2 500 per day, the Atlantic Seaboard is the main target for upper income and high net-worth visitors who are willing to pay rates of up to R15 000 per day for a luxury seaside apartment and R60 000 per day for a villa with a penthouse suite right on the ocean’s edge, say agents Bryan Ginsburg and Lior Witz.
If your primary residence is luxurious and private with all the luxuries you could want on hand, you would not expect anything less from your holiday home, say the agents. Opulent finishes and furnishings along with privacy, exclusivity and flexibility add to the attraction of these luxury apartments and villas. They are generally ultra-contemporary and beautifully furnished, popular for film and fashion shoots and sought-after by celebrities, elite travellers and families. They are fully serviced and there is a personalised welcome and check-in, but those who can afford to do so, can elect additional amenities such as a 24-hour concierge, luxury transfers, a chef, fitness instructor, personal shopper and more, say Ginsburg and Witz.
Property owners are set to achieve significant daily rates this summer, add the agents. New, one bedroom units in Green Point are fetching rates of between R2 000 and R2 500 per day. At the Waterfront, two bedroom units will set you back between R5 000 and R7 500 per day, and upwards of R4 500 per day in Clifton.
Luxury apartments in Bantry Bay complexes such as The Bantry and The President are yielding up to R15 000 per day. Camps Bay apartments are going for between R3 000 and R5 000 per day for a renovated unit while trendy villas are commanding rates of up to R14 000 per day. Clifton, Fresnaye and Bantry Bay’s luxury villas achieve up to R15 000 per day.
A villa with a penthouse and panoramic sea views in Bakoven, is getting R60 000 per day, say the agents. Ultra-modern and with luxurious furnishings and finishes including air-conditioning and 24-hour security, the villa offers five bedroom suites. Floor to ceiling glass windows and sliding doors open onto terraces that overlook the ocean. There is a large outdoor entertainment area with a rim-flow swimming pool. The beach is a short stroll away while the trendy Camps Bay Promenade and Clifton’s beaches are a short commute away.
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