Opportunities for local buyers as they look further afield

Opportunities for local buyers as they look further afield

Category Property News

"Areas on the western seaboard will always see a steady increase in demand as one gets a lot more property for your money."

Rising prices in the Atlantic seaboard and the schooling areas in the southern suburbs are making more far-flung properties affordable for local buyers, says Greeff Christies International Real Estate's Mike Greeff. 

This means areas on their outskirts - such as Observatory, Century City and surrounds, Kirstenhof, Tokai and even those over the mountain in Noordhoek - are good bets for this year's buyers.

"These areas are showing good value and are attracting buyers who would have never normally looked there. This is helping grow the demand and pushing up prices," believes Greeff.

"The combination of good schools nearby, easy access to travel routes, and an excellent range of amenities makes these outer hub areas more attractive to buyers," he adds.

Another area Greeff says is expected to increase in demand in 2019 is Simon's Town, which is on the verge of major expansion with the opening of the Harbour Bay development.

"The development will allow people to visit in the area and shop conveniently with ease of access to a range of amenities such as the Harbour Bay Medical Centre and Shopping Centre."

Areas on the western seaboard will always see a steady increase in demand as one gets a lot more property for your money, says Nelio Mendes, marketing manager at SAProperty.com.

Many people relocating from other cities or even investing from abroad are attracted to the fact that the return on investment in the western seaboard is greater than that of the Atlantic seaboard.

"However, capital growth on Atlantic seaboard properties is generally greater because they start from a higher base."

There has and will always be a demand for rental properties in areas that feed the universities such as the University of Cape Town and University of the Western Cape, says the group's southern suburb agent Charia Thatcher.

Claremont, Newlands, and Rondebosch are sought-after but because pricing is not favourable in terms of renting a property for a single student, there is a lot of sharing.

"Student digs are becoming less popular. Parents are not always comfortable with having their children staying in varsity accommodation.

"These suburbs are pretty saturated," says Thatcher. She believes interest in these areas will dissipate as the new varsity intake for 2019 winds down." 

Suburbs offering residents a quick commute to work, access to a flourishing business hub, leisure activities and easy access to good schools are always in demand.

This will remain a trend in 2019, says Dogon's Denise Dogon. Houses in these areas - such as Constantia and Claremont - are able to command higher prices.

Further growth is also likely to be seen in several coastal regions due to semigration, says Yael Geffen of Lew Geffen Sotheby's International Realty. These areas include areas in KwaZulu-Natal, the Cape West Coast, the Eastern Cape and the Garden Route.

Author: Lew Geffen Sotheby's International Realty