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.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 25 May 2018
      Reliable public transport systems moving a mass of commuters to and from work, keep a city’s economy moving. Not only do they have a positive impact on economic growth, successful rail links also influence property values.
    • 25 May 2018
      The live, play and visit environment that Centurion Residential Estate & Country Club offers continues to attract buyers looking for a very specific lifestyle and ambiance.
    • 25 May 2018
      As expected, the Monetary Policy Committee kept the repo rate stable, with analysts and market commentators ahead of yesterday's announcement (24 May 2018) pointing to a more hawkish stance amid a weaker rand, somewhat less stable global environment, and an eye on the inflation outlook – coupled with the increase in VAT and sizeable hike in the price of fue
    • 24 May 2018
      Most real estate professionals agree that 2017 was one the toughest years to date; an eminently challenging 12 months that subdued even the strongest markets - including the country’s economic powerhouse of Sandton.
    • 24 May 2018
      These are uncertain and challenging times for the real estate industry, but the non-profit organisation Rebosa is fighting for their interests and finding pragmatic solutions to industry issues such as the urgent need to fast-track transformation says Richard Gray, Rebosa chairman.
    • 24 May 2018
      The decision to invest in property isn’t one that’s taken lightly, or dealt with flippantly. The same should ring true when deciding on an estate agent partner to handle the letting out of your property.
    • 23 May 2018
      Homeowners who are thinking of selling and “trading up” to a bigger or a better home had better be quick now if they want to get the best deal.
    • 23 May 2018
      The new Loftus Park development in Arcadia is really going to boost the demand for homes and rental accommodation close by and the neighbouring suburb of Sunnyside, says Gerhard Kotzé, MD of estate agency group RealNet Holdings.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us