New holiday buying boosts Plettenberg Bay market

Property sales in Plettenberg Bay are picking up steadily, thanks mostly to an increase in the purchase of holiday homes in what is still one of SA’s most popular holiday destinations.

“When the recession hit in 2008/ 09, this was still primarily a second-home destination, and property sales activity here halved overnight and continued to drop until the end of 2011.
“However, there has been an upward trend since then and average selling prices are now almost back to 2008 levels,” says Hein Pretorius, owner of the local Sotheby’s International Realty franchise, whose mandate on a Robberg Beach mansion recently sold for R45m – the highest price ever paid for a beachfront property in Plettenberg Bay.
The current average price for a freehold property in the village is around R2,5m, he says, and that for sectional title apartments around R1,2m. “However, entry-levels are still low, by Plett standards, and that is making the area much more attractive to first-time buyers and those who always wanted to buy a holiday home here but found it too pricey.
“Although stock is limited, entry-level houses are available for around R950 00, bachelor apartments for around R400 000, and vacant stands at prices from R225 000. These promise to be smart investments in a market which has shown an average 13% annual price growth over the past 10 years.”
At the moment, says Pretorius, the real impetus in the market is coming from Gauteng buyers who once more have decided to make Plettenberg Bay their regular annual holiday destination.
“They want to get away from the city on their holidays and enjoy the natural beauty, the Blue Flag swimming beaches and laid back lifestyle of Plett, while still having access to every modern convenience.”
The village is more fully-fledged now than it used to be, he says, with its own hospital and branches of most national retail chains, so residents and holidaymakers don’t have to travel far to do their shopping. The slowly rising number of permanent residents is also attracting a number of young professionals who have found that they can have the best of both worlds here – a thriving business and a great seaside lifestyle.
Pretorius says. “Surrounded by beaches, mountains, forests, nature reserve and rivers, Plett overlooks a magnificent bay where one can often see dolphins and whales at play. It also enjoys good weather almost year-round and offers some of the best value luxury real estate on the SA coast.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us