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Active market in Cape Peninsula

Cape Town’s South Peninsula, incorporating coastal towns such as Muizenberg, Fish Hoek, Noordhoek and Kommetjie, has long been sought after for its relaxed coastal lifestyle, value-for-money homes and healthy outdoor environment.  

This combination continues to attract a mix of local, upcountry and international buyers, both for full time residence and for holiday or retirement purposes.  Pam Golding Properties (PGP) reports that its South Peninsula agents had a very busy peak summer season (December 2012 to February 2013), with the towns of Noordhoek and Scarborough seeing particularly high levels of sales activity.



PGP’s area manager for the South Peninsula, Sandi Gildenhuys, says the area offers a home to suit nearly every taste and pocket, from entry level apartments and cottages to family homes, retirement villages, luxury mansions and sprawling smallholdings. “Different nodes tend to attract different types of buyers,” she says, “with Noordhoek for example being very popular with equestrians and artists, Fish Hoek a sought after home for retirees, and areas like Capri and Faerie Knowe attracting many young families.  The local infrastructure offers anything one could need in the way of schooling, shopping, medical care and gourmet restaurants, but without compromising on the sense of peace and laid-back coastal living.  Affordability is another major factor drawing buyers to the area - there are still plenty of property options available under R3 million, and this is where we are seeing the most demand at present, with many properties in this price range selling within their first week of listing.”

Noordhoek

One of the areas seeing a particular run of popularity is Noordhoek, where PGP agents sold residential property to a total value of over R43 million in a 10 week period ending in late February (2013).  These included a R16.5 million sale to an existing Capetonian, as well as a number of homes sold to buyers relocating within the village.  There was also significant interest from upcountry buyers – especially from Johannesburg, Pretoria and Nelspruit.

Gildenhuys says while activity levels have been highest in the lower price bands, there has also been a notable upturn in enquiries above R3 million.  “We also have a number of prime top-end properties on the market at present,” she says, “including an elevated five-bedroomed home with panoramic views which is on the market at R11.995 million, and several plots in the exclusive Chapman’s Peak Estate, where prices start from R3.5 million.”



She adds that many residents choose to spend their whole adult lives in the Noordhoek valley.  “They may start with their first purchase of a modest apartment near Long Beach, or a small cottage in the Lake Michelle eco-estate, then upgrade to a larger home on more sizable grounds as their family grows.  As they establish their careers, some may upgrade to agricultural smallholdings where they can keep their own horses, or large luxurious villas with panoramic views and extensive grounds.  And in their golden years there are two excellent retirement villages to choose from in the valley, both offering a full and healthy lifestyle with a wide variety of hobbies and communal activities, plus excellent frail care facilities.  Once you fall in love with the Noordhoek lifestyle, you never have to leave!”

Scarborough

For those wanting a slightly more remote location in a completely non-commercialised environment, the village of Scarborough remains extremely popular.  Once an enclave dominated by retirees and holiday-makers, it now boasts a substantial permanent population, including a number of young families who have ‘escaped’ there in search of a more wholesome environment for their children.  Scarborough has just 650 properties and can never expand beyond this, thanks to its natural boundaries – the Cape Peninsula National Park, Baskloof Nature Reserve, mountains and ocean.  The village maintains a friendly community atmosphere with a strong emphasis on living close to nature.



Gildenhuys says during the peak summer period PGP agent Marianne Furlong sold over R13 million in residential property in Scarborough.  The bulk of these were sales to South Africans, with just one international buyer purchasing a home in the village.

Prices in Scarborough start from around R650 000 for vacant erven, while small bungalow-style homes are priced from R1.5 million to R2.5 million and larger family homes from R2.5 to R4 million.  There are also a few top-end luxury homes priced anywhere from R6 million to over R14 million.


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