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Why now is the time to invest in Cape Town’s False Bay

25 Jan 2019

There has been growing awareness of False Bay’s unique charm and the excellent lifestyle and value offered on this scenic coastal strip, but outdated infrastructure and a lack of key amenities, especially in areas like Kommetjie and Noordhoek, has often discouraged many prospective buyers.

This two bedroom, one bathroom apartment in Costa Da Gama, Muizenberg, has a sunny lounge, and is on the market for R929 000 - click here to view.

However, the opening of a new school and significant infrastructural upgrades that are currently under way are poised to spur demand as well as price growth this year.

“There has been substantial investment in the area, from improved roads and connectivity to shopping malls, galleries, restaurants, retirement homes and residential developments, but the real game-changer is the Generation School which opened in Imhoff on 23 January,” says Steve Thomas, Lew Geffen Sotheby’s International Realty Franchise Manager in False Bay and Noordhoek.

This two bedroom, two bathroom garden cottage-style home in Capri, Fish Hoek, has a verandah and landscaped garden. It is selling for R1.67 million - click here to view.

“It will eventually accommodate close to a thousand learners from early learning to tertiary entry so, for the first time, residents in the southern peninsula, and particularly the more remote parts of the southwestern areas toward Scarborough and Cape Point, will have easy access to schooling.”

Thomas says this will significantly impact the desirability of the area as an attractive place to live, and will drive property growth upwards.

In a secure and well-managed complex in Kommetjie, this home has three bedrooms, two-and-a-half bathrooms and open-plan living areas. It is on the market for R2.195 million - click here to view.

Natalie Cooper and Trish Bichener, Area Specialists for the group in the Kommetjie, Blue Water and Imhoff’s Gift region, agree that the addition of a school, along with major road improvements, will perceptibly bolster the market which already offers a wide variety of property options across all price bands.

“Buyers have their choice of plots, apartments, townhouses, clusters, estates and freestanding homes starting at around R1 million all the way up to R20 million, many of which have stunning sea views. However, this node has never had a comprehensive schooling option and families have always faced a considerable daily commute which has discouraged a number of prospective investors.

In popular Melrose Village in Muizenberg, this three bedroom, two bathroom apartment has been restored, but still has numerous original features. It is selling for R3.7 million - click here to view.

“We have already had a number of queries from people looking to buy or rent in the area as they have already enrolled their children in Generations or are considering moving their children to the school in the future.”

It’s therefore unsurprising that December was their best month last year, with sales to a wide demographic, including upcountry buyers.

This three bedroom, two-and-a-half seaside home in Mount Pleasant, Simons Town, has a big verandah, as well as a separate two bedroom cottage and one bedroom flatlet. It is selling for R3.8 million - click here to view.

“It was encouraging to note the increased interest from serious Gauteng investors and the number of Kommetjie residents looking to upscale within the area. However, the watchword was 'value-for-money', and buyers were especially looking for good value at the upper end of the market,” say the agents.

“And the properties that sold had one thing in common - serious sellers who understood the current market conditions and were open to negotiation.”

This three bedroom, two-and-a-half bathroom home in Lake Michelle Security and Eco Estate, Noordhoek, has a pool, flowing entertainment areas, fireplace and more. It is on the market for R6.35 million - click here to view.

They add that although they have seen an increase in the number of sellers who are either emigrating or are already overseas, they are also receiving an encouraging number of queries from foreign buyers who are considering investing in the area.

This designer home in Lake Michelle Security and Eco Estate, Noordhoek, has five bedrooms, four-and-a-half bathrooms, spacious indoor and outdoor entertainment areas with two braais, a pool and more. It is selling for R11.5 million - click here to view.

“Unlike most comparable areas in Cape Town, the False Bay and Noordhoek region still offers first-time buyers a very accessible entry into the Cape Town property market, especially in and around Muizenberg and Fish Hoek, where one can buy a three bedroom house from around R1.7 million,” says Thomas.

“Currently the highest demand is for properties priced below R2.5 million, and apartment living is becoming an increasingly popular lifestyle choice and new developments with added security and easy, low-maintenance lifestyles are always in demand.”

This historic home in Kommetjie is on a large ocean-fronting stand and has three bedrooms and three-and-a-half bathrooms.It is on the market for R15 million - click here to view.

In addition to the new school, there is also a light mixed-use development with a residential component already on the cards for Kommetjie, and the partners say the demand for commercial space in the area has steadily increased during the past 12 months.

 “Over and above the value and solid returns to be found the region, it offers an excellent quality of life in characterful, often historic villages and suburbs, most of which have strong sense of community,” says Thomas.

On the beach in Chapman’s Peak, Noordhoek, this five bedroom, seven-and-a-half bathroom home offers versatile living, expansive entertainment areas, a deck and pool. It is selling for R25 million - click here to view.

“The area is now well supplied with amenities like shopping centres and medical services, as well as key services, including a driving test station and municipal offices in Fish Hoek, so with the addition of a school and the vastly improved infrastructure, I expect the False Bay market to continue to hold its own.”

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