select
|

Home bargains on offer in arty Pringle Bay

Pringle Bay in the Western Cape, famed for its seclusion and artists’ colony, now offers excellent value for homebuyers.

Although there is steady demand for homes in the small seaside town of only 1700 properties, some homes here are now selling for even less than municipal value, says Lindsay Knight of the local RealNet estate office. “And prices discounted by around 15% of market value are not uncommon.”

A large percentage of current buyers, she says, are relocating from cities such as Cape Town and as far away as Johannesburg. “They are typically in their early forties, have families and are self-employed or remote workers. They are attracted by the peaceful lifestyle that Pringle Bay, with its beautiful sea and mountain views, offers.”

The town is wedged between a safe beach and the Kogelberg mountains, giving it an intimate ambience. And yet, it is the heartbeat of surrounding villages such as Rooi Els and Betty’s Bay because of its vibrant pubs and restaurants, fun festivals and art route.

Prices of stands start at the R260 000 mark and can range up to R2m for viewsites on the mountainside. A wooden micro-cottage with two bedrooms is currently the cheapest home on Knights' books, but two to three-bedroom cottages typically sell for between R900 000 and R1m, she says. A variety of three- and four-bedroom cottages are available at asking prices of between R1m and R1,2m

Knight notes, though, that the difference in quality between homes in the R1,2m price range and those priced at R1,5m is considerable. "For R300 000 more you can buy a home in a totally different class with luxurious finishes, outstanding aesthetics and lovely views."

The price ceiling in Pringle Bay is around R10m, for which buyers will get a prime position on the beach and private whale watching from their own patio.

Meanwhile, says Knight, the tourist market has picked up steam in the past year and some guest houses that were for sale have been withdrawn from the market because of bumper bookings. Some guests houses are, however, still on the market at prices between R2,9m and R5m.

Neighbouring Betty's Bay, which is also in Knight's franchise area, has remained popular among holiday home buyers because of its relative seclusion and lower home prices. These range from R700 000 for two-bedroom cottages to around R6m for luxury units.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK