Luxury market continues to flourish on the Garden Route

Despite the challenging economic conditions surrounding the property market over the past year, Broker/Manager of RE/MAX Coastal, Chris van der Merwe, says that in their area of operation there has been just as much movement in the luxury home segment as in the entry-level home segment.

Operating in the Knysna, Sedgefield and Wilderness areas, Van der Merwe says notes that over the last 12 months there has been a definite increase in both enquiries and sales in the higher end of the market. “We have experienced an uptick in sales activity in the region on the upper end the scale, predominantly in the R5 million to R7.5 million price bracket. This interest has mainly been for properties situated within gated estates such as Thesen Islands, Pezula Golf Estate and Pezula Private Estate in Knysna. There is also particularly high demand for luxury beach homes in Wilderness,” he says.

According to Van der Merwe the region attracts many buyers who are looking to purchase their retirement homes. “The average age of buyers who are purchasing homes in the region is around 60 years old. Most of the buyers in our areas range in age from 55 years old to 65 years old. The Garden Route is the ideal place to retire because of its lifestyle offering.

Considered to be one of the most scenic and beautiful regions in the country, it offers residents aesthetic surroundings and a change of pace from the hustle and bustle of city living. The region is home to beaches and lagoons, forests and mountains and provides the ultimate terrain for adventure trails and hiking, bird watching, canoeing and a host of water sports. The area is also renowned for its golf courses,” says Van der Merwe.

He adds with the area’s unique offering and a reputation for being one of the safest parts of the country, it is easy to see why so many buyers in the luxury segment of the market are choosing the Garden Route as their preferred region of investment when it comes to purchasing a luxury home – whether as a permanent residence, retirement investment or holiday home.

Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, says that although the luxury home market has slowed in recent years in many parts of the country, there are sought-after nodes that continually allure buyers due to the lifestyle and security offerings they provide - the Garden Route is one such area.

According to Van der Merwe around 10% of buyers in the region are foreign investors, 10% are expats returning to the South Africa from countries such as the United Arab Emirates and Panama City. He notes that the remaining 80% of buyers is split equally between corporates and people who are semigrating from Gauteng, KwaZulu-Natal and the Eastern Cape.

Van der Merwe reports that the price range of luxury property in the region starts at R5million and goes up to approximately R50million, depending on the location, whether or not the home is situated on a secure estate and what views and features the property offers. The kind of features luxury home buyers could expect within this price range would include floor space of 500m² upwards, four bedrooms with en-suite bathrooms, a heated pool, two to three garages, a walk-in wine cellar, gym, strong room for valuables, underfloor heating, a central vacuum system, a built-in music system, intelligent lighting, Wi-Fi, putting green with a bunker and white water ocean views.

RE/MAX Coastal currently has a luxury home on the market within the Pezula Golf Estate. Set on a large stand of 4000m², the four-bedroom home offers a sense of space with proximity to nature and the ocean.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us