Sustained resurgence of sales in Langebaan

The Cape West Coast town of Langebaan is enjoying a sustained resurgence of activity in its residential property market.  

Pam Golding Properties (PGP) reports that after a lengthy period of quiet market performance, sales activity and buyer enquiries are picking up pace significantly.  PGP has sold 43 properties in the town this year (2012), to a total sales value of R72 million.  Recent sales have included a high percentage of cash buyers, looking for both permanent and holiday homes.

PGP’s area manager for the West Coast, Stephanie Wynne Cole, says one of the drivers of the renewed market activity is the planning for an Industrial Development Zone (IDZ) at nearby Saldanha Bay, which now seems imminent.  “The feasibility study which was released in April 2012 indicated huge potential for job creation and foreign direct investment if the plan goes ahead,” she says.  “A public consultation period is currently underway, after which a decision will be made early in 2013 as to whether the designation of the IDZ will go ahead.  If this happens, Saldanha Bay could become a major hub for servicing the offshore oil and gas industries.

Langebaan, being just 25km away from Saldanha, would be the ideal home base for those working in the IDZ, especially those with families.  Already we are experiencing numerous enquiries from buyers currently based in Gauteng, who are anticipating relocating for this reason in 2013.”

Wynne Cole says all kinds of properties are in demand at present, from vacant erven to secure estates, family homes and apartments.  However the most sought-after homes are those in the R1.5 million to R4.4 million price range, particularly three- or four-bedroomed family homes with double garages.  PGP’s stand-out recent sales include a 760sqm vacant plot overlooking the lagoon, which sold for R2.55 million in November (2012).

“Besides the buyers drawn by the IDZ, we are also seeing demand from Cape Town and the Boland, from those seeking weekend and holiday homes, as well as a few buyers from Gauteng and KwaZulu-Natal who have purchased holiday homes for future retirement use.  The low crime rate and slow pace of life are key factors in their purchasing decisions, as is the ease of access to Cape Town with its international airport and big city amenities.  We anticipate an even more substantial upturn in activity over the summer season, as many holidaymakers will use the opportunity to view stock and consider making a purchase.  At present there is a good selection of homes available across all price brackets, and excellent value for money on offer.”

Current pricing in the town sees an entry level of around R160 000 to R350 000 for vacant erven, while apartments are price from R650 000 to R1.2 million.  A mid-sized family home will cost between R1.3 million and R2 million, while luxury beach houses can fetch anything from R5 million to R12 million.

PGP’s MD for the Western Cape metro area, Laurie Wener, says Langebaan now has well-established infrastructure, including three private schools whose fees are substantially lower than those charged in big cities.  

“There are several local shopping centres offering major brands including Woolworths, Spar and Pick n Pay, while other major retailers can all be found at the new West Coast Mall in Vredenburg, just 30km away,” she says.  “A number of the main roads in the area have been upgraded in the past year or two, further improving accessibility and ease of commuting to Cape Town, Saldanha and Vredenburg.  All of these factors combine to make Langebaan a viable alternative for those working from home or via virtual networks, who can commute into the city for meetings with ease.”

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