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Residential sales in the Mossel Bay property market have increased due to cash buyers relocating to the town

Although it is today best known as the place at which the first Europeans landed on South African soil (Bartolomeu Dias and his crew arrived on 3 February 1488), Mossel Bay’s human history can - as local archaeological deposits have revealed - be traced back more than 164,000 years.  Mossel Bay is sportsman's and waters sport enthusiast's paradise, it has a very wide variety of adventure sports facilities as well as sport of the conventional type, such as golf, squash, tennis, bungi and bridge diving, indoor heated pools, horse riding to name but a few.



Ricus Serfontein, owner of the local Aida franchise, says sales in the residential market started improving in October last year, although demand for holiday homes has remained low.
 
"Current sales are almost equally divided between local residents buying either smaller or larger properties, and buyers relocating from other regions of the country," he says.
 
Mossel Bay is popular among buyers who settle their families here due to the fantastic coastal lifestyle and safety, while they keep their city jobs and commute. Commuting buyers are mostly in their early thirties to early forties.
 
Professionals in their thirties to fifties are also active in the market. Many of them which are opening offices or practices in town and typically buy more upmarket homes with sea views in the R2,2m to R3,2m price range. Properties in this price range are also sought-after among buyers who settle their families here while they work on contract in other countries.
 
Lock-up-and-go units at around R1,5m are popular among local retirees who are scaling down, as well as buyers from other parts of the country who wish to retire at the coast.
 
Serfontein adds that most transactions are currently on a cash basis. "We are currently processing few bond applications and cash buyers are in a strong position to negotiate attractive prices. A second benefit of cash transactions is that sales are quickly concluded, which adds impetus to a market that was somewhat moribund last year."
 
 
For further information please contact:
Aida head office: 012 682 9600
Contact: Ester Odendaal
Aida Mossel Bay: 044 691 1582
Contact: Ricus Serfontein



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