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PRINGLE BAY/ROOI ELS MARKET WEATHERS THE STORM

Despite current market conditions placing severe pressure on second-home destinations, the Cape Overberg seaside towns of Pringle Bay and Rooi Els continue to enjoy consistent interest from serious buyers. So says Pam Golding Properties, whose office servicing the towns has sold over R21 million since the start of March 2009. Over 60 percent of these sales came from properties on sole mandate with PGP.


PGP’s area manager Mike Bisset says sales have been steady: “Recently, our agent has sold three outstanding seafront properties ranging in price from R3.4 million to R5.6 million, including a sought-after vacant beachfront stand in Rooi Els. Other sales have included R1.1 million for a Cape Cod-style home close to the beach, R1.9 million for an elevated three-bedroomed home with magnificent ocean views, and R825 000 for a small wooden cottage. This steady turnover of homes is proof that realistically-priced properties are still selling, despite the difficult market conditions. Most of our recent buyers have been Capetonians and a few Gautengers, seeking second homes for weekend and holiday use, or taking a long-term investment stance.” Bisset adds that the banks’ current rigid lending policies remain a barrier to sales, and says some buyers remain hesitant to put in offers subject to the sale of their own homes.


Rooi Els and Pringle Bay remain extremely popular with holiday-makers, but also boast a growing number of full-time residents. These include retirees as well as young professionals, some of whom commute into Cape Town or Somerset West, and some of whom work from home, conducting their business via ADSL. PGP’s MD for the Boland and Overberg regions, Annien Borg, says the amount of building activity is a sure indicator of the towns’ growing popularity and prosperity: “During the months of March, April and May alone, building plans were approved to a total of nearly R10 million per month, in the three villages of Rooi Els, Pringle Bay and neighbouring Betty’s Bay,” she says. “Another sign of growth is the opening of a small private primary school in Pringle Bay – a sure indicator that more families are moving here permanently. And what better place to raise a family, than in this safe, beautiful environment?”


What better place, indeed? Situated between mountain and sea, Rooi Els and Pringle Bay offer spectacular ocean views, lovely beaches and countless opportunities to enjoy an active outdoor lifestyle. As they are located within a World Heritage Site (the Kogelberg Biosphere Reserve), there are also strict restrictions on their urban expansion, meaning that they will not lose their character to unchecked development.


PGP currently has over 40 homes on the market in the two villages, along with more than 50 vacant stands. Prices for houses range from around R800 000 for an older holiday cottage on 600sqm, going up to R6.4 million for a modern four-bedroomed seafront home on 3000sqm. Vacant plots start from R300 000 for a 600sqm stand with partial sea-views, while a 1500sqm elevated mountainside plot with excellent views is available at R1.4 million, and a 600sqm beachfront stand at R3.95 million. PGP is also marketing six coastal small-holdings of 22ha each, with approximately 300m of sea-frontage, ranging in price from R4.5 million for a vacant portion, up to R10.5 million for a property with a three-bedroomed home. Inland small-holdings are also available, sized at approximately eight hectares each, and priced from R1.5 million.



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