Cape Property Sector Booming into the Winelands

Residential property sales in the Cape continue to grow at impressive rates, in stark contrast to the country’s overall economic growth projections.

Just recently, the World Bank halved South Africa’s growth forecast for 2017 after the economy fell into recession earlier this year. They say this year’s growth would probably be 0.6%, down from an earlier estimate of 1.1%.
“But in the property sector, we’re seeing growth in residential property sales in the Western Cape of around 13.8%,” says Mike Greeff, CEO of Greeff Christies International Real Estate.
Greeff’s turnover is up 39% this year and the company has recently opened two new branches in the Cape which he says shows its confidence in the region’s ability to sustain these impressive growth numbers. Offices have been opened in the Breede Valley and the Winelands.
The Breede Valley is becoming popular with families looking to ‘slow down’ which is easy to understand if one looks at the area’s abundant natural beauty. Commercial farmers are also flocking to the area to take advantage of what the valley has to offer.
“The Breede Valley is doing exceptionally well with growing demand for residential and commercial farming property in this region,” says Aimee Campbell, branch manager for the new Breede Valley branch. “Last year we recorded a 30% growth in property sales for the valley.”
Campbell runs the branch alongside her husband Carrick. This experienced team will cover the five towns in the area – McGregor, Montague, Bonnievale, Robertson and Ashton, as well as the agricultural land towards Worcester.
She cites young families from Johannesburg, KwaZulu-Natal and Cape Town choosing it due to a slower pace of life. There is so much to do in the area and you can get really good value for money in the valley.
“Commercial farmers – especially citrus farmers – have also flocked to the area to take advantage of the soil conditions that are perfectly suited to growing produce that has been the driving force behind the run on small holding and agricultural properties in the region,” says Campbell.
More people are also flocking to the relaxed natural beauty of the winelands which has helped this region secure the province’s second best growth rate in residential property sales, behind the southern suburbs of Cape Town.
An estimated 6 000 new homes have been approved by local municipal authorities for the Franschhoek, Paarl and Stellenbosch district which could collectively see around 10 new property developments in the next few years.
“This area is showing phenomenal growth and we’re excited about what the future holds,” says Jaco van der Merwe, who opened Greeff Christies International Real Estate’s new Winelands branch earlier this month.
From their office at the Boschenmeer estate, Van der Merwe’s team will service the greater winelands area including Paarl, Paarl Valley, Stellenbosch and Franschhoek, with an exclusive focus on developments in the area.
“We are seeing a lot of people from Gauteng opting for a slower, relaxed lifestyle topped with top-class schools for their children,” Van der Merwe shares. Many Capetonians are also choosing the winelands as part of their plans to downscale.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 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.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us