select
|

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.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Jun 2018
      The rental market in many Johannesburg suburbs has shown encouraging signs of revival this year but it remains a competitive market and landlords who best cater to their market’s needs will reap the healthiest returns.
    • 22 Jun 2018
      Home design is constantly evolving to reflect the changing needs of society. We look at some of the ways in which our use of space is changing.
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK