Mid-range stock thin in Gordon's Bay

25 Jan 2010

Gordon's Bay residential properties in the R600k to R800k price range have been few and far between since October last year.

So says Jan de Villiers, principal of Re/Max of Southern Africa, who adds that families still comprise the bulk of the buyers' pool in this Western Cape coastal town.

"We're really short of stock in this price range right now. There's been a definite uptick in the level of interest and amount of sales since October. Prices haven't risen significantly since then, but the sales volumes have definitely increased."

He says an increasing number of people are looking at properties above R2m. "We've had a number of sales for R1,5m and R1,6m and buyers are regaining their confidence in the property market, the economy and property as an asset class."

During November and December alone, Pam Golding Properties' (PGP) agents concluded R12,5m in sales in the town, including two upmarket mountainside and waterfront homes, priced at R3m and R3,5m respectively.

PGP's area manager, Linda Killick, says the company now has over 50 exclusive mandates on its books in Gordon's Bay, ranging from apartments priced at just R365k to luxury top-end homes around the R16m mark. "We also have a number of homes ideal for family buyers, priced from around R1,5m and upwards," says Killick.

"This means that families can acquire decent-sized homes and gardens at a very competitive price, and raise their children in a secure and serene environment, close to the sea, with a friendly small-town atmosphere and ample schooling and sports facilities close by.

"The famed Bikini Beach offers safe swimming in warm waters, and has enjoyed Blue Flag status for 3 consecutive years now. There are also ample opportunities to get out into nature, from gentle hikes in the surrounding mountains to more strenuous excursions like kloofing in the Steenbras River Gorge, paragliding or quad-biking."

PGP's MD for the Boland and Overberg regions, Annien Borg, says the company's recent sales have included some returning expatriates as well as a number of investment buyers.

"Gordon's Bay lies in an ideal position, close to work opportunities in Somerset West and Stellenbosch, which are under 20 minutes away, close to the airport, and even within easy reach of Kuils River and its surrounding industrial areas. Yet at the same time it is perfectly positioned for weekend getaways to Betty's Bay, Pringle Bay, Hermanus and the like."

De Villiers says even though no overseas buyers have recently bought in Gordon's Bay, investors are making their presence felt. "We are seeing a lot of speculators who want to buy, let the property for a year or two and then sell again."

PGP's current mandates in the town include a luxurious beachfront home situated in a secure complex, with over 750sqm of living space. Priced at R12m, the home offers four large en suite bedrooms and expansive living areas, a private courtyard pool and a bar leading onto a rooftop patio.

Another notable property for sale is a spacious family home ideal for an extended family or even dual living. The main house offers three en suite bedrooms, while a further two en suite rooms can be found in a separate private apartment with its own kitchen. The property is on the market at R3,4m.

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