Well-priced homes on offer in Cape Town’s ‘coolest’ suburb - Market News, News
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Well-priced homes on offer in Cape Town’s ‘coolest’ suburb

12 Feb 2019

Cape Town’s Muizenberg with its fabulous surfing and seaside culture offers one of the best lifestyles in South Africa, and property that is still affordable for a prime coastal area.

This five bedroom, two-and-half bathroom house in Muizenberg, Cape Town, offers a built-in braai and herb garden, and is close to the Muizenberg Beach. It is on the market for R2.85 million - click here to view.

This is according to Bonita Lee, an agent with Seeff, who says that property values have grown very nicely and buyers are prepared to pay ever higher prices. The neighbourhood is also attracting a good contingent of investors looking for Airbnb properties or second homes.

Average property prices have more than doubled since 2011, increasing from R800 000 to around R1.8 million. In 2011, the highest sale value was R1.95 million, and in 2018 it had increased to R8.5 million.

Living here is like being on a year-round holiday, and the area attracts an eclectic mix of residential, investment and holiday home buyers, says Lee.

Muizenberg is renowned for its surfing heritage and culture and ranks amongst the most popular surfing hotspots in the world. Its famous landmark is Surfer’s Corner and many famous surfers hail from the village, such as Heather Price and Justin Strong.

This three bedroom, two bathroom apartment in Muizenberg, Cape Town, offers a free-flowing open-plan kitchen and large living area leading onto a lovely garden. It is selling for R1.18 million - click here to view.

Surfers Circle Walk commemorates famous surfers such as Heather Price, who, in 1919 was the first South African to be photographed standing on a board on the waves, an image made famous on postcards and reproductions thereof, says Lee.

The corner Surf Shop, owned by Peter Wright, has been in operation since 1971 and produced surfboards known as Wright’s Boards, and a surf wax called ‘Jenny Wax the Hot’ in the seventies. It is the oldest surf shop in Africa. ‘Adaptive Surfing’ is now in full operation on the Muizenberg beachfront, and has already seen locals travelling to complete internationally.

Lee says there is now a local beer unique to Muizenberg called ‘Striped Horse’ which comes with a venue where you can enjoy a good meal, dance to the vinyl on the decks and let yourself be transported back to anywhere between the 1960s to 1980s.

There are nearly 30 eateries, with close to 15 of these located on the Muizenberg beachfront. In the historical village, you will find Epsom butcher, the Killarney Road baker and the candlestick maker. Bean Dreaming Café offers a variety of dreamy delights and Joon is an old fashioned, big portion-sized place for the family. For shared office space for creatives, head to The Hive in the historical village.

The Muizenberg Festival is also an annual highlight for the community, says Lee.

This three bedroom, two bathroom townhouse in Fishermans Village, Muizenberg, offers ocean and mountain views and is close to amenities. It is on the market for R2.35 million - click here to view.

On the Muizenberg main road, you will find the landmark Sobeit Studio where collaborative artists showcase their designs and art. A new addition is the Hong Kong Charlie Sushi Bar which is fast becoming a favourite for sushi lovers and offers the best prices. Morning coffee specials are very popular at R15 for a large cuppa, says Lee.

Tucked away next door, you will find bbellamy & bbellamy which is owned by David Bellamy and where you can find unique environmentally ‘friendly’ hand-printed fabric.

Seeff is located right after, and is one of the oldest property agencies in the area. Lee has worked for Seeff Muizenberg for almost 18 years, and the office was already established by the time she joined.

Emerald Fox Tattoos is the oldest tattoo shop in Muizenberg, while Affrodizzy Act is ready with performers for any occasion and an outfit hire to match your party or function.

Despite the fabulous seaside location, Muizenberg still offers excellent value for money, says Lee. There is a diverse choice of property, from older to new apartments and fabulous houses, from historic homes in the village to houses located high up against the mountain slopes offering stunning views.

This two bedroom, two bathroom apartment in Muizenberg, Cape Town, is available to rent at R13 000 per month - click here to view.

Historic village property sells for upwards of R2.5 million for a semi and up to R3.5 million-plus for a house, generally with no garage or parking.

Beachfront property attracts young professionals and investors, with prices ranging from R1.5 million for a 50sqm one bedroom unit, and from about R3.5 million for a three bedroom sea-view unit.

Marine Estate, located across the Muizenberg Zandvlei Estuary, still offers excellent value in accommodation, parking, garden and home size, but most houses are older, says Lee.

Smaller three bedroom homes sell for around R1.6 million and large, dual dwellings for R2.2 million to R3.5 million, and in rare cases, the odd mansion will sell for R5.5 million.

Muizenberg is a popular holiday destination, offering the opportunity to invest in holiday rentals, and has enjoyed record occupancy rates. Rates range from around R1 500 per day for a one bedroom unit to R3 500 per day for three bedrooms, depending on the time of year. Holiday rentals in the Marine Estate are more affordable at R1 000 to R3 500 per day for large homes.

Long-term residential rentals average from R8 000 per month for a one bedroom unit and R15 000 to R25 000 per month for sea-view units. Houses range around R18 000 per month for three bedrooms.

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