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says Knight, the tourist market has picked up steam in the past year and some guest houses that were for sale have been withdrawn from the market because of bumper bookings.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.

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