With financial markets and economies under pressure both nationally and internationally, in St Francis Bay in the Eastern Cape - at the gateway to the Garden Route - the residential property market remains relatively unscathed and "certainly in a far healthier situation than most," says Richard Arderne, Pam Golding Properties' area principal.
"Attracted by the secure and active lifestyle, an increasing number of families are choosing to relocate here. Many of the breadwinners then commute to places of employment – to nearby Port Elizabeth or as far afield as Johannesburg and Pretoria; some for a few days a month, some for longer periods," says Arderne. "A recent spate of sales has been concluded on behalf of buyers who realised they needed to make a purchase decision in order to take occupation before the December festive season.
"Greater St Francis Bay comprises approximately 5 000 erven, with only about 500 of these on the sought-after canals, where your boat is moored at the end of your garden. Of the latter, only 20 are located on an island in the most prestigious and secure enclave in the entire area – Marina Island. This island, which features an impressive gatehouse and private slipway for boats, is part of the very last extension to the marina. Eight luxury homes have already been constructed in Marina Island, the bulk of which each have a market value in the R10 million price bracket which indicates the high level of investor confidence in the area," says Arderne.
He says to give an idea of the value of erven in Marina Island, PGP is currently marketing a 1146sqm vacant stand for R4.3 million, while the company also recently concluded the sale of a canal home for R21 million, which they believe is a record for Eastern Cape residential property.
The St Francis Marina is one of the best in the country with a stable eco-system, excellent water quality and excellent security advantages, making it an ideal place for a family holiday or permanent home. Just a few minutes by boat is the magnificent Kromme River, navigable for 15ksm upstream, or through the river mouth, out into St Francis Bay.
On Marina Island PGP has been awarded a sole mandate to market two off-plan, luxury homes priced at R8.9 million each (including VAT), which will be built on adjacent north-facing plots. Arderne adds that the fact that these are north-facing adds approximately 30 percent to their value, as such plots are highly sought after. These will be 520sqm homes each featuring three entertainment rooms, five en suite bedrooms, indoor swimming pool and excellent finishes. However buyers may have input to the layout and finishes to suit their preferences.
In addition, these sumptuous waterfront homes will boast a media room, double volume entrance hall, roof terrace to enjoy sunrises and sunsets over the water, covered patio, double garage and off street parking for numerous cars and boats behind automatic gates.
The developer of these two homes is the successful Gauteng-based Mont Blanc Group and the builder is well-known local St Francis Bay builder, Peter Mitchley.
For more information contact 042 294 1188 or send an email.
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