Langebaan sales increase as West Coast awaits IDZ designation

The West Coast town of Langebaan is seeing a rise in residential property sales, with Pam Golding Properties (PGP) reporting a very busy festive season in the town.  

PGP agents sold 50 homes in the period from November 2012 to January 2013, at a total sales value of R51 million.  The imminent declaration of nearby Saldanha Bay as an Industrial Development Zone (IDZ) is thought to be spearheading the surge in interest, along with a notable recovery in the local holiday home market.

PGP’s area manager for the West Coast, Stephanie Wynne Cole, says the bulk of festive season sales were holiday home purchases, some intended for later use as retirement homes.  Buyers included a number of Gauteng residents as well as those from Cape Town, the Boland and Overberg, and a high percentage of cash buyers. “Clients came here on holiday, used the opportunity to view what was available in the market, and committed to purchase on the spot,” says Wynne Cole.  “The past few months have seen a notable upturn in the market for holiday homes, after a long period of muted activity.  This quiet period saw price expectations adjusted to the point where there is now excellent value for money on offer in Langebaan – a factor which has heavily influenced the recent upturn in sales.”

Entry level prices in the town currently stand at around R160 000 to R350 000 for vacant erven, while apartments are priced from R700 000 to R1.2 million.  A medium-sized family home with three or four bedrooms – the most highly sought after type of property at present – will cost between R1.3 million and R2 million, while larger luxury homes and those located close to the beach are priced anywhere from R5 million to R12 million.

Wynne Cole says the designation of the Saldanha IDZ now looks to be a near certainty, and will definitely impact positively on the Langebaan residential property market. Provincial premier Helen Zille indicated in her recent State of the Province speech (22 February 2013) that she expected the national department of Trade and Industry to make the formal designation within the next few months.  “This will mean major industrial development for the Saldanha region,” says Wynne Cole, “including a significant influx of people who will work on the component projects.  These include the upgrade of the deepwater port, establishment of a facility for servicing oil rigs, and further development of the local mining industry.  All these people will need places to live, and Langebaan will certainly appeal due to its proximity to the port, ease of access via recently-upgraded roads, well-established infrastructure and beautiful scenic setting.  It would also be an ideal place to settle their families, with three private schools on offer, good shopping and medical facilities, low crime rates and a healthy outdoor lifestyle.”

CEO’s and senior officials who will be directing these projects may find the perfect home on the market right now – in Langebaan’s upmarket suburb of Myburgh Park. The eye-catching ultra-modern home offers five en-suite bedrooms, all leading onto a wrap-around balcony with beautiful lagoon views.  Four reception rooms offer seamless flow between formal and informal spaces, and the modern kitchen has a separate scullery and laundry.  Other features of the home include an eight-seater Jacuzzi and gym room, an indoor solar-heated pool and braai area, and a substantial fully-equipped bar clad in kiaat wood.  The same wood clads a private office with wall-to-wall bookshelves and a strong-room.  The property occupies an erf of close to 900sqm, and has four glass-walled showroom garages.  It is on the market exclusively through PGP, priced at R6.5 million, inclusive of most of the furnishings.

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