The two small coastal villages of Pringle Bay and Rooi Els, located in the popular Overstrand area just 90 minutes from Cape Town, continue to attract interest from across the Cape and especially upcountry areas such as Johannesburg and Pretoria as well as foreign buyers.
According to John du Toit, Seeff’s licensee for the Overstrand, these villages are amongst the last unspoilt areas where you can buy so close to the beach, which is a major attraction.
The villages are popular for second homes and retirement, especially due to the close proximity to the city and Cape Town International Airport. They are also close to Kleinmond, Betty’s Bay and Hermanus for other necessities.
Du Toit says the region has gained in popularity over the last two years due to the short travelling time and distance from Cape Town, and there is no sign of the interest dropping off. He expects this to continue and even pick up as the summer approaches.
Deeds Office data shows that activity in the villages have remained steady over the last three years. There is a shortage of stock below R2.5 million, making this sector still a seller’s market. The luxury homes' sector above R3.5 million, however, is more of a buyer’s market.
“It is always a challenge to get owners to sell. There are no water shortage problems here and owners do not want to sell and move to Cape Town where they will experience these problems. We are seeing many Cape owners heading here more often over the weekends to escape the water restrictions. This has created a big stock shortage and there are less properties on the market than there have been for the past 10 years. In Rooi Els there are, for example, only 11 properties on the market,” says Du Toit.
Seafront property is particularly sought after. The shortage of homes for sale has also boosted the sale of vacant plots, with many deciding to build as they cannot find something on the market. There is also a shortage of long-term rental properties.
Du Toit says there is also always high demand for holiday rentals and the villages are popular Airbnb destinations, which means there is always the opportunity to earn some rental income on your holiday home. Many buyers and investors are buying with this in mind.
Du Toit says this is one of the most beautiful parts of the Cape.
“With mountains to the rear and kilometres of fynbos as the area falls within the Kogelberg Biosphere, the lifestyle is almost unbeatable for holidaymakers and retirees. Quaint little roads wind through the villages which are fronted by a rocky coastline and beautiful beaches. The area is an all-you-can-want buffet for water and beach lovers and nature enthusiasts alike.”
Du Toit says Rooi Els, in particular, has no street lights or shops, and although there is a small local centre in Pringle Bay with basic essentials and eateries, it is very laidback. "At any time, you can find people strolling around. The villages are also very secure, each with a single, controlled and manned entrance and security cameras."
Both Rooi Els and Pringle Bay offer a diverse range of properties, from luxury houses against the mountain slopes with spectacular vistas to village homes and luxury villas on the water with direct beach access.
He says prices in Pringle Bay range from R350 000 to R950 000 for vacant plots and upwards of R1.85 million for houses. The value on offer is well illustrated by a stunning architectural villa, designed by award-winning architect, Malcolm Gordon, which is on the market for R6.8 million - considerably less than what you would expect to pay for seafront property.
The property has its own private access path over the dunes to the beach. It offers wraparound sea and mountain views, and is one of the most popular Airbnb holiday rental homes, generating substantial rental income.
Du Toit says the home is spread over three levels with five bedrooms, generous living areas and access to two separate sea-facing lookout decks to enjoy the spectacular sunsets. The finishes are modern and include a fireplace in the lounge. There is also a separate games room on the ground floor opening out into a private courtyard. Other features include a double garage, outdoor shower and a security system including perimeter beams, amongst others.
In neighbouring Rooi Els, you can expect to pay upwards of R700 000 for vacant land while houses range from R3.2 million to R9.8 million. Here too, you can still find excellent value.
Du Toit says one of the most recognisable homes in the village is on the market for R6.5 million. It is located on a large elevated plot below the mountain, just two roads from the beach. It is west facing with unobstructed sea views across False Bay, from Cape Point to Table Mountain in the distance.
He says this unique architectural home comes with beautiful stone cladding, hand-crafted bathrooms, double-volume ceilings, custom doors and other customised features. It offers three bedrooms, two living rooms, an open-plan kitchen with a pantry and scullery, dining area with indoor braai opening out onto the front sea-facing veranda, a small wine cellar, automated double garage with plumbing for a laundry, outdoor showers and more.
Both properties are in pristine condition and du Toit says there is not a thing to be done, but move in and enjoy the lifestyle.
