Despite tough market conditions, the tranquil Western Cape Overberg hamlet of Betty's Bay is still showing an ongoing demand for homes.
A leading property group reports that its office in the town has closed 12 deals at a total sales value of over R13,3m already this year. The bulk of these transactions were cash sales.
The town of Betty's Bay lies along the coastal road towards Hermanus.
Pam Golding Properties' (PGP) managing director for the Boland and Overberg, Annien Borg, says the property market in Betty's Bay has remained surprisingly strong this year, weathering the storm of interest rate hikes and rising cost-of-living, despite the fact that it is largely a second-home market.
"With its position just 45 minutes from Somerset West and an hour and a quarter from Cape Town, Betty's Bay is an ideal weekend getaway spot," she says.
"It is also an attractive investment prospect due to the wide variety of plots and homes available, the diverse types of terrain, and the fact that there is no restriction on when one must commence building."
PGP's branch manager for the greater Hangklip-Kleinmond area, Mike Bisset, says local agents have sold six vacant plots this year, ranging in size from 600sq m to 3,000sq m, and priced from R350k to R3,5m, as well as six holiday homes priced between R900k and R1,7m. The biggest demand continues to be for three- or four-bedroomed homes with open-plan living spaces, offering either sea views or an easy walk to the beach.
For more information contact Mike Bisset on 082 889 5300 or send an email.
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