Plettenberg Bay property market reaches magic R1bn turnover mark

The Plettenberg Bay property market has just surpassed the magic R1 billion turnover mark for the year. Kevin Engelsman, Seeff’s licensee for the area, says this is indeed a milestone in view of the prevailing economic climate.

The popularity of Plett just continues to increase, says Engelsman.

“Aside from an influx of new residents as part of the migration to the Western Cape, we have seen a notable increase in demand for holiday and retirement accommodation in the town. Buyers and holidaymakers from Gauteng areas such as Johannesburg and Pretoria are especially keen right now.

“Plettenberg Bay now has a busy commercial centre, good infrastructure and schools. Main Street is lined with malls, boutiques, restaurants and other services. For everything else, there is the big Market Square Mall on Beacon Way.

“In addition to the long coastline, there is also the Keurbooms River that runs through the town, providing further properties with water views. The town is also close to Knysna and an excellent base for those working in the area. George, the main commercial centre for the Garden Route, is also only about an hour and a half away.”

Engelsman says the Garden Route property market in general remains upbeat – even Capetonians are looking to move here now.

He says more than half of all properties in the area have been in the same hands for longer than eight to 10 years. Buyers are a wide mix, from local residential to holiday and second home buyers from across the country. There is also a good mix of ages, although the more expensive homes tend to be bought by older buyers.

In the last few years, there has been an uptick in sales of properties priced above the R5m to R10m bracket. That said, part of the attraction for the town is that it offers something for every buyer and budget.

4 Bedroom House for sale in Keurboomstrand, Plettenberg Bay

About 65 percent of all property in Plett is full title – predominantly houses that range from modest and well-priced in the R1.2m to R2.2m range. In the luxury areas prices for larger houses tend to range to about R6m on average.

There are also a number of security complexes and estates that offer a mix of properties, priced from around R600 000. Luxury estate houses are priced from R4m to around R8m on average. Luxury beach houses, especially those around Beachy Head, Whale Rock Ridge and Lookout Beach can go up to R20m or R40m.

There is still plenty of vacant land for sale, at prices starting from R200 000 to R400 000, says Engelsman.

“Getting to the town is now a whole lot easier with weekly flights from Johannesburg and Cape Town and it is just six hour’s drive from Cape Town and about 12 hours from Johannesburg.

“Holidaymakers tend to visit for the whole of December and as often as possible during the year. It is also the top spot for the annual matric holidays, known as the Plett Rage. The warm sea, excellent weather and healthy climate make it ideal for holiday and retirement buyers,” says Engelsman.

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