The magic of Muizenberg

The laid-back, historic seaside town is home to the oldest building on the False Bay coast and the brightly coloured Victorian beach houses hark back to a time when it was Cape Town’s premier swimming beach.

“Muizenberg attracts many investors due to its rich heritage and lifestyle - the town is saturated with South African history. Aside from the Het Posthuys in Main Road which dates back to the 1600’s, other attractions include the Battle of Muizenberg site and the Rhodes Cottage. The area has a beautiful white sandy beach, pavilion, mountains, a train station and M5 and M3 highways are close by. Added to that it is within 25 minutes drive from the Cape Town city centre. There is also a wide variety of surf and adventure operators, as well as quaint restaurants and coffee shops for residents to enjoy,” says Mark Brickles, Broker/Owner of RE/MAX Ultra Select, which operates in regions Grassy Park, Strandfontein,  Zeekoevlei, Muizenberg, Ottery, Lansdowne, Rondebosch East , Plumstead and surrounding areas.

According to Brickles, Muizenberg will be a hot investment node for the holiday period among astute property investors. “Muizenberg property is definitely undervalued when compared to other areas along the Atlantic Seaboard. Buyers can pick up flats on the beachfront for as low as R400 000 for a one-bedroom apartment. This means that almost the entire bond repayment will be covered from the rental received. If the property is used for holiday rentals during the high season periods such as December and January, investors will be able to make a healthy profit on their investment,” says Brickles.

He notes that the R400 000 to R800 000 price band will be the most active this season. In fact, RE/MAX Ultra Select recently sold a one-bedroom unit for R420 000 within two days of it coming onto the market. “The reason for this is fairly simple: it is the price bracket that most people can qualify to buy for, especially first-time buyers. Secondly, this is the price range where investors will get good rental returns. In this price bracket the properties will be mostly sectional title units, which suits the lock up and go lifestyle of Muizenberg, as the area mainly attracts younger adults who enjoy arts and surfing.”

Adrian Goslett, CEO of RE/MAX says that well-priced property that is situated close to amenities will always attract buyers and offer a good return on investment.

According to Lightstone, a property data and statistics provider, property in Muizenberg consists mostly of freehold housing, which makes up 53.50% of the market stock. The remainder of the property in the area consists of 39.21% sectional title units and 7.28% estates. The average price of a freehold home in 2011 was approximately R1,025 million, which is significantly higher than the 2010 figure of R755 000. The average price of a sectional title unit has increased from R650 000 in 2010 to R793 000 in 2011. These increases point to the fact that Muizenberg property is sought after and is a good return on investment. The highest percentage of recent buyers (41.81%) in the area were between 36 and 49 years old.

Brickles concludes by saying that generally sentiment in the market is much better than last year - not just in Muizenberg but across all the areas his office services, with many more first-time buyers taking up opportunities to invest and investors returning to the market.

  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