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Surge in top end residential sales in Hermanus

There has been a sudden increase in top-end sales in the Cape’s whale capital, Hermanus and its neighbouring villages.

 


Pam Golding Properties (PGP) reports that a number of luxury homes have been sold in the area in the past few months.  PGP’s sales in Hermanus topped R40 million in May alone, with three properties selling for R9 million and more.  An additional R13.2 million deal was signed on the first business day in June.

PGP’s area manager for this section of the Whale Coast, Adrian Kuiper, says Hermanus remains largely a retirement town and seaside holiday resort, although its population does now include a number of younger residents working from home or running their own small businesses.  The town has not been immune to the global financial crisis, and Kuiper says local economic activity has been quiet this year.  So it may seem something of an anomaly that some of its highest-priced properties have suddenly changed hands in the past month or two.



However, Kuiper says the global crisis itself may be one of the reasons for the spike in top-end sales.  “Investors are seeing many European markets in turmoil,” he says, “and may well feel their money is safer here in South Africa, invested in a secure fixed asset which will retain and potentially grow its value over the long term.  Coastal property remains a highly sought-after commodity worldwide, and luxury homes in prime locations with unimpeded views are those which can achieve a significant increase in value.  In recent months a number of Hermanus sellers have adjusted their pricing in line with the quieter market conditions, and several homes which were considered over-priced a year ago, have sold as soon as their prices have been adjusted to more realistic levels.”

Among the notable sales concluded by PGP since April 2012 are:

  • R15 million for a spectacular five-bedroomed home on the seafront in Voëlklip, Hermanus, set on over 1200sqm.  The property was purchased as a holiday home.
  • R13.2 million for a home in Kammabaai, Hermanus, with five en-suite bedrooms and sea-facing balconies.  The property was sold to a Cape-based buyer for holiday and retirement use.
  • R12.5 million for a four-bedroomed home on the cliff-side in Eastcliff, Hermanus, with spectacular views of Walker Bay.  The home on 1209sqm was sold to Gauteng-based buyers who will use it initially as a holiday home, and later as a retirement property.
  • R9 million for a three-bedroomed home on 1786sqm in Luyt Street, central Hermanus, sold for holiday and retirement use.
  • R6.5 million for a four-bedroomed home with hi-tech security, located 50m from Onrus Beach.  The property was sold for cash in late May, to Cape Town buyers who wanted to upgrade from their existing Onrus holiday home.
  • R4.85 million for a cliff-side home in Sandbaai with panoramic views.  The property was sold to a Gauteng-based buyer for retirement use.



PGP’s MD for the Boland and Overberg regions, Annien Borg, says the town’s unrivalled location will ensure its long-term popularity, as well as that of its neighbouring satellite towns.  “There are few coastal towns that offer such variety of properties and pricing options, or such a wealth of sea-front locations,” she says. “Buyers can choose from the huge panoramic sweep of Walker Bay itself, or the many properties with lagoon frontage, ideal for watersports enthusiasts in particular.  Even those properties not located on the front row itself have easy access to the magnificent beachfront.  Hermanus now offers all the infrastructure needed to support permanent residence, from high quality shopping, schooling and sports activities to medical care and entertainment.  It remains the ideal location for a weekend, holiday or retirement home, or a permanent seaside residence.



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