Sales steady in Pringle Bay, Rooi Els

17 Aug 2009

Steady sales have been recorded in the Cape Overberg seaside towns of Pringle Bay and Rooi Els despite the tough market conditions.

So says Pam Golding Properties, whose office servicing the towns has sold over R21m since the start of March 2009.

PGP's area manager Mike Bisset says sales have been steady: "Recently, three seafront properties ranging in price from R3,4m to R5,6m, including a sought-after vacant beachfront stand in Rooi Els, were sold in the area. Other sales have included R1,1m for a Cape Cod-style home close to the beach, R1,9m for an elevated three-bedroomed home with magnificent ocean views, and R825k for a small wooden cottage.

"This steady turnover of homes is proof that realistically-priced properties are still selling, despite the difficult market conditions. Most of our recent buyers have been Capetonians and a few Gautengers, seeking second homes for weekend and holiday use, or taking a long-term investment stance."

Bisset adds that the banks' current rigid lending policies remain a barrier to sales, and says some buyers remain hesitant to put in offers subject to the sale of their own homes.

Rooi Els and Pringle Bay remain extremely popular with holiday-makers, but also boast a growing number of full-time residents. These include retirees as well as young professionals, some of whom commute into Cape Town or Somerset West, and some of whom work from home, conducting their business via ADSL.

PGP's MD for the Boland and Overberg regions, Annien Borg, says the amount of building activity is a sure indicator of the towns' growing popularity and prosperity. "During the months of March, April and May alone, building plans were approved to a total of nearly R10m per month in the three villages of Rooi Els, Pringle Bay and neighbouring Betty's Bay," she says.

Prices for houses in these villages range from around R800k for an older holiday cottage on 600sqm, going up to R6,4m for a modern four-bedroomed seafront home on 3,000sqm.

Image: This Cape Cod-style home in Pringle Bay was recently sold for R1,1m.

For more information contact Nicola Lloyd on 028 273 8326 or send an email.

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