Sunset Beach property values rise substantially year-on-year

The average value of homes sold in the upmarket Western Seaboard enclave of Sunset Beach has increased nearly R1 million year-on-year.

That’s according to Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty, who says the suburb, which is idyllically situated along the pristine Table Bay shoreline and offers an exclusive oceanfront lifestyle as well as a host of amenities, is emerging as the jewel of the Western Seaboard.

Geffen says: “There has been a notable increase in investor interest over the past couple of years and this is evident in the substantial rise in property values.

“Sunset Beach is just over 10km from the CBD and with the improved transport links offered by the MyCiTi bus service, commuting time has dwindled to just about nothing. This makes it the ideal location for anyone who loves the ocean and particularly watersports,” he says.

”Property owners there can live in absolute luxury, and not battle the traffic as they would going into town from the northern or southern suburbs of Cape Town every day.”

Geffen says that Propstats figures reveal that while the average selling price of a house in 2013 was R2.7m, the 2014 figures show an exponential increase in just a year with average house values leaping to around R3.5m.

“This firmly places Sunset Beach at the upper end of the property market along this coastal stretch, which falls predominantly in the mid-market sector.

“Last year the average sale price was just over 9% below the asking price, and it’s clear from an analysis of the sales figures that correctly priced properties sell faster and tend to obtain sale prices much closer to their asking prices.”

Flanked by the Atlantic Ocean, protected Rietvlei wetland and Milnerton Golf Course, this secure and upmarket area is the perfect choice for those wanting to live their passion without basing themselves too far from the city.

A residential area of about 250 houses, Sunset Beach offers investors a variety of property choices within its confines, including very few pieces of vacant land.

Sunset Links, an extension of Sunset Beach, is a luxurious golf estate situated right on the beachfront within the Milnerton Golf Course. Offering property owners unsurpassed views of Cape Town, Table Mountain and Robben Island, properties within its confines are sought after by both local and foreign investors, with the average sale price of houses in the first quarter of 2015 being R7.4m.
Geffen says: “Sunset Links was voted the best suburb in South Africa in 2012. It offers not only a secure and exclusive lifestyle, but also offers sports enthusiasts myriad activities including golf, kiteboarding, windsurfing and cycling.”

Investors can also choose to purchase property in Sunset Village, a gated development inside the confines of Sunset Beach, which gives buyers not only the convenience of lock up-and-go modern double storey homes, but also secure estate living.

Properties in the Village do not often come onto the market, but the few that changed hands in the past year had an average sale price of around the R4m mark.

Geffen says although average sale prices in Sunset Beach do fall in the higher end bracket, there are still a few accessible entry-level properties to be found starting at around R2.7m but these are quickly snapped up.

Contributing to its popularity is the fact that the Sunset Beach area boasts more than its fair share of appeal factors, including security, upmarket amenities, proximity to the city and Canal walk as well as surrounding natural beauty and a healthy outdoor lifestyle.

Acknowledged as one of the finest kite and windsurfing locations in the world, the sandy, white 10km stretch of beach is also legendary amongst water sports enthusiasts around the world.

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