select
|

Mossel Bay property market on the ‘up-and-up’

The bustling coastal town of Mossel Bay is currently welcoming at least 30 new families to its environs every month, leading estate agents to predict that the population will double within the next few years and further increase the demand for homes that suit both the needs and the pockets of permanent residents.


The Mossel Bay Golf Estate offers sectional title townhouses at prices from R2m to R3m and large executive homes at R4m to R6m.

“Mossel Bay’s population growth continually exceeds the average national population growth, but this is good news for us,” says Japie van Zyl, owner of the RealNet Mosselbaai franchise. “The town is experiencing a dramatic growth spurt due to the expansion of the oil and gas industry, the influx of ‘semigrants’ from other provinces and foreigners who stay for six months of the year.

“This has brought about a turnaround in the local housing market and significantly boosted the commercial property market as well. We are bursting at the seams and urgently need new shopping centres and high schools now.”

Mossel Bay has traditionally been a holiday destination, he notes, and while there are many spectacular properties on the market, some are really not practical for families. “Some buyers are being forced to look in the older parts of town now for freehold homes because the estates don’t allow pets, for example. But the consolation is that one can buy a very large older home with four or more bedrooms in the suburbs around the city centre for around R3m.”

Van Zyl says property demand is greatest in the under-R2m price range and that there is a shortage of stock in this category. “There is however a wide choice of modern homes in the Mossel Bay Golf Estate (see photo), where sectional title townhouses are priced at R2m to R3m and large executive homes at R4m to R6m.

“The estate offers both security and convenience and is sought-after by investors as prices have trended substantially upwards in the past couple of years.”

Sales in the ultra-luxury Pinnacle Point Golf Estate are understandably slower, he says, with high-end, architect-designed villas here being priced at R10m to R15m. “However, they are sought-after by investors from Europe, and represent exceptional value for money, despite their price tags.”

Meanwhile Village-on-Sea, which is part of the St Blaize Conservancy, has proved popular with buyers, says Van Zyl. “Here vacant stands of around 980sqm are available at prices from R450 000 and finished homes for R2m to R2,4m. These homes have been superbly built, and are snapped up whenever they come on to the market.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
        
    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