28 Nov 2012
At the mouth of the Knysna river, where the sea flows into the lagoon are the Knysna Heads, two great sandstone cliffs. The Knysna Heads are renowned as one of the most striking features along the southern African coastline.
Knysna is well known for its oysters, which are rated as some of the most appetising in the world. The lagoon is one of a small number of places along the coast and in the world that supports an oyster hatchery.
The Knysna Forest, which is the largest indigenous forest in South Africa, is filled with a wide selection of established trees, ferns and wildflowers. The forest was once home to herds of Knysna Elephants and now it is believed that only one cow remains, however, there is still a large variety of birdlife, including the Knysna Loerie.
CEO of RE/MAX of Southern Africa, Adrian Goslett says the property portfolio is a mix of residential estates, sectional title apartments and freehold homes. Sectional title units make up the majority of properties, accounting for 43 percent, while freehold homes account for 35 percent and estates equate to 22 percent.
He says the buyers are mature, upcountry people looking for holiday homes. Lightstone data shows 45 percent of existing owners are aged 50 to 64 years, while 43 percent of recent buyers are the same age. The data also indicates that 42 percent of recent sellers were 36 to 49 years old.
Goslett says that an entry-level home would cost R1.2 million, which would buy a two-bedroom, two-bathroom home with open plan living areas, in a sought-after area close to the beach, while entry-level apartments in the CBD would be priced at R500 000.
Lightstone shows the average price of a sectional title property during 2012 is R720 000, while the average value of a freehold home is around R1.1 million.
Goslett says there has been movement in the property market between November 2011 and October 2012, with 63 property transfers having taken place. Lightstone data indicates 40 percent of existing owners have been in their properties for less than five years.
The strongest demand seems to be for properties priced between R400 000 and R800 000, which accounted for 26 of the 63 transfers. Properties priced between R800 000 and R1.5 million showed strong demand, accounting for 24 of the 63 transfers.
He adds that sectional title property is the most sought after, with 39 units sold, compared to the 15 freehold homes and 9 homes within estates that were sold.
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