Everyday resort-style living is luring more local and foreign buyers to Camps Bay

While the suburb has always ranked amongst the top neighbourhoods of the Atlantic Seaboard, the last two years has seen a noteworthy uptick in both buyer activity and average prices as buyers increasingly invest their money in property here, says Serman and Pope. 

While many of the country's primary property markets continue to grapple with subdued activity, sales in the suburbs for 2012 was up by just over 40% in Rand-value terms over the previous year. A total of 95 property transactions worth almost R695 million were concluded here compared to 78 sales to the value of R496,3 million in 2011.

Market activity for this year is already off to a positive start with about 49 property sales to the value of R351,8 million already reported. The suburb also ranks tops with foreign buyers. This year, around 16 properties worth almost R150 million have already been snapped up by buyers from across the globe including the UK, Europe, USA, Middle and Far East and the African oil-rich countries such as Nigeria, Angola and Congo.

The average freehold house price has also strengthened by just over 17% in the last year to around R8,556 million; up from R7,3 million in 2011 and significantly better than the national average house price growth of around 5-6 percent reported by FNB. Strength of the market is further evidenced by the continued strengthening of buying activity at the top end, say the agents. While around 8 properties above the R10 million price mark have sold in each of the suburbs of Clifton, Bantry Bay and Fresnaye respectively, 9 have already sold in Camps Bay. 

Comparatively, only 10 properties priced above R10 million sold for the whole of 2012 in Camps Bay, says Serman and Pope.

The suburb's resort-style homes continue to sell for prices that range from R12,75 million at The Grange to R18,5 million for a luxury villa in Woodford Avenue sold by the agents. This luxurious, resort-style lifestyle is well-illustrated by a new listing that is on the market for R18,95 million, say the agents. Located in Shanklin Crescent where a home recently sold for R20,4 million, the home was designed by Neil Sachs of Zuckerman Sacks Architects. It is fronted by covered terraces that overlook the Palm-fringed Camps Bay Promenade and the ocean while unique, high-set windows provide stunning views of the Twelve Apostles mountain range to the rear of the property. The indoor and outdoor living spaces connect seamlessly for the ultimate resort-lifestyle. Finishes include air-conditioning throughout, under-floor heating in the living areas and bathrooms and a mix of porcelain floor tiles and choir carpeting. Half of the home's electricity needs are also provided by solar power.

The residence offers around 430sqm in floor space, set over two levels on a spacious plot of 1.021sqm with a swimming pool. The home comes with a lounge with a wood-burning fireplace, family room with a library corner, dining room, designer kitchen, study and gymnasium with an en-suite shower room (that could serve as a fourth bedroom), three bedroom suites and a staff suite with a kitchenette. Stack-back doors open the living areas to the entertainment terraces. The property includes a double garage and secure parking for a further five vehicles. The state-of-the-art security includes an electrified perimeter, CCTV and alarms.

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