08 Jul 2013
Imagine living as if you are on vacation every day. That is exactly what the coastal suburb of Camps Bay and its modern resort-style residences are all about.
This is according to Seeff agents, Rochelle Serman and Lyn Pope, who say a sought-after seaside location, sea views, indoor and outdoor living spaces and a laidback lifestyle is what is luring local and foreign buyers to the suburb.
While it has always ranked amongst the top neighbourhoods of the Atlantic Seaboard, the last two years has seen a noteworthy uptick in buyer activity and average prices as residential, holiday and foreign buyers invest their money in property, say Serman and Pope.
While many of the country’s primary property markets continue to grapple with subdued activity, sales in the suburb for 2012 were up by just over 40 percent in Rand-value terms over the previous year. A total of 95 property transactions worth almost R695 million were concluded in the suburb compared to 78 sales to the value of R496.3 million in 2011.
Market activity for this year is already off to a positive start with about 49 property sales to the value of R351.8 million already reported. The suburb ranks tops with foreign buyers with around 16 properties worth almost R150 million already bought by buyers from across the globe including the UK, Europe, USA, Middle and Far East and the African oil-rich countries such as Nigeria, Angola and Congo.
The average freehold house price has strengthened by just over 17 percent in the last year to around R8.556 million, up from R7.3 million in 2011 and better than the national average house price growth of around 5-6 percent reported by FNB.
Strength of the market is evidenced by the continued strengthening of buying activity at the top end, say the agents. While around 8 properties above the R10 million price mark have sold in the suburbs of Clifton, Bantry Bay and Fresnaye respectively, 9 have already sold in Camps Bay. Comparatively, only 10 properties priced above R10 million sold for the whole of 2012 in Camps Bay, say Serman and Pope.
The suburb’s resort-style homes continue to sell for prices that range from R12.75 million at The Grange to R18.5 million for a villa in Woodford Avenue sold by the agents. The lifestyle is well-illustrated by a listing that is on the market for R18.95 million, say the agents. Located in Shanklin Crescent where a home sold for R20.4 million, the home is fronted by covered terraces that overlook the Palm-fringed Camps Bay Promenade and the ocean. High-set windows provide views of the Twelve Apostles mountain range to the rear of the property and indoor and outdoor living spaces connect seamlessly for the ultimate resort-lifestyle.
Finishes include air-conditioning, underfloor heating in the living areas and bathrooms and a mix of porcelain floor tiles and coir carpeting. Half of the home’s electricity needs are provided by solar power.
The residence offers around 430 square metres in floor space set over two levels on a stand of 1 021 square metres with a swimming pool. It has a lounge with a wood burning fireplace, family room with a library corner, dining room, kitchen, study and gymnasium with an en suite shower room (that could serve as a fourth bedroom), three bedroom suites and a staff suite with a kitchenette.
Stack back doors open the living areas to the entertainment terraces and the property includes a double garage and secure parking for a further five vehicles. The state-of-the-art security includes an electrified perimeter, CCTV and alarms.
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