22 Feb 2013
Fish Hoek has the added attraction of affordable prices at entry level, says Keith Searle of the RealNet Southern Peninsula franchise. He says prices in this quiet residential town start at about R450 000 for one bedroom apartments, which are popular among young entrants to the property market.
Family homes with three bedrooms in ‘the avenues’ average around R1 million but luxury homes with views of False Bay on what is fondly known as ‘millionaires' mile’ on the mountainside are selling at prices of up to R10 million.
Searle says Fish Hoek is also still popular among older buyers who are downscaling. For example, he says, older residents in Noordhoek, where stands are typically large, are selling up and buying comfortable homes on smaller stands of around 500 square metres because of easier maintenance, but without having to sacrifice a leisurely lifestyle.
Meanwhile, property in Noordhoek is particularly popular among high-income buyers with young families. The suburb is situated at the foot of the famous Chapman's Peak Drive and is bordered by one of the longest stretches of white sandy beach in the Mother City.
The large stands, ranging from about 1 500 square metres to several hectares, lend a rural atmosphere and most stands are large enough to keep horses. According to Searle, many residents stable their own horses and this makes the area sought-after among parents whose children want to keep ponies purely for recreational purposes or who compete in equestrian events.
Average three bedroom family homes on smaller stands sell at around R1.8 million, which is also the entry level for the area. Prices range up to about R16 million for luxury homes on large parcels of land.
Searle says buyers can expect double storey homes with five or six bedrooms, four bathrooms, large entertainment areas, sweeping views of Chapman's Peak, and perhaps stables, at this price level.
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