Holiday buyers hedge their bets in unspoilt Paternoster on the West Coast

The small village of Paternoster really is a little gem on the West Coast, says Seeff agent, Marina Enslin.

It remains a popular weekend and short-break bolthole for Capetonians and inland areas of the province and a sought-after holiday destination for the Cape and other inland holiday makers, especially from northern areas such as Johannesburg and Pretoria, say the agent.

The area is predominantly a second home market and the agent says that there has been more interest in property here this year compared to the last three years. Banks are also again granting bonds on properties in the village and are even taking income generation into account.

This year, some 33 properties have sold compared to 27 last year. Although the bulk of the sales have been in the price band below R2 million, Seeff has sold three Fisherman-style holiday homes here, priced between R2 million and R3,2 million, says Enslin. A number of vacant plots have also sold this year, something that we have not seen for a while, says the agent. Sea view properties and those that offer the opportunity to generate some form of rental income for holiday home owners and investors have seen the highest demand this year.

Despite the subdued market conditions, Enslin says that Paternoster remains a good bet for holiday home buyers and investors. Prices have settled down and consequently offer the opportunity to pick up really good value here. This year's sales figures show us that smart buyers and investors have done exactly that; picked up good value.

Vacant plots are now priced between R400,000 and R700,000, but can range up to R3 million for a prime sea front location, says Enslin. The ever-popular Fisherman-style cottages are priced upwards of R1,495 million while bigger holiday homes range from R2,15 million to R5,36 million for a large, 275sqm double storey Fisherman style home with three income producing self-catering units.

The home has typical white-washed exteriors and beach-tone interiors. Lovely blue shutters adorn the exteriors of windows and there are two outdoor decks that look out over the main beach and ocean. The plot size is 512sqm. The self-catering units have living areas and kitchenettes. The main house area has an open-plan lounge and dining room with a fireplace and a modern kitchen. There are also two further bedrooms with en-suite bathrooms. The home is fully furnished and the price includes all appliances, amenities and linen in the self-catering units. The property also includes a single garage.

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