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It's boom time for Hermanus sellers

Residential and holiday home buyers have again flocked in their droves to the seaside resort town of Hermanus

Hermanus.jpg
?A view of the Hermanus 

Almost R1.3 billion in property was transacted here last year, more than double that of five years ago. Sales volumes have also doubled to over 1200 registrations for the year according to Reon van der Merwe, Seeff’s licensee for the area.

The market remains active. In fact Seeff had its best month in May on top of 25 sales in just four months at Mariners Village alone as well as the sale of 24 vacant plots in just two months. The agency also clinched a top end sale of R21.25 million for a 400sqm house in Eastcliff right on the ocean sold by Jaco van der Merwe.

Stock levels are down by up to 30% and there is almost nothing to buy below the R1.5 million price mark, says van der Merwe. The busiest price band remains below the R3 million mark and there is still very low demand above R5 million.

Located just about one and a half hour’s drive from Cape Town and the airport, Hermanus is fast shedding its reputation as a hamlet. It is now home to well over 26 000 permanent residents with a thriving tourist infrastructure that attracts thousands here annually.

The town now boasts top retails brands, boutique stores and restaurants to satisfy just about every palate and progress continues. A new 30 000sqm shopping mall has just been approved, something that van der Merwe believes can only benefit the town and its economy.

Aside from residential, retirement and holiday home buyers, we are beginning to see growing numbers of commuter buyers investing, says the licensee. We now even have people settling their families here and commuting weekly and monthly to Gauteng and other provinces for business.

Developers are quite active and the need is largely for small lock up and go units selling off plan as demonstrated by the brisk sales at Mariner’s Village referred to above), says van der Merwe.

Retirement homes are also selling well, the new Negester development is for example seeing about three sales per month.

Gated villages are in great demand, but stock is in short supply, he adds.

There are still a few excellent buys on offer in Onrus and Vermont, priced to around R2.5 million, but stock is now in short supply in areas such as the Fernkloof Golf Estate.

The demand for vacant plots has taken off quite markedly, adds van der Merwe. There are though still good buying opportunities with prices ranging from just R200 000 to R1 million for a top end location. The best value is at Mariners Village, Sandbaai and Vermont and, with building costs at R6 500-R8 500/sqm, you can still build a nice 120sqm three-bedroomed home for about R1 million. For added convenience, Seeff also offers a number of plot-and-plan options, often a much easier choice for buyers, says the licensee.


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