Significant increase in demand at Big Bay

The suburb of Big Bay, located on the northern edge of Bloubergstrand on Cape Town’s Western Seaboard, is seeing unprecedented demand for residential property. 

This two-bedroomed apartment measuring 100sqm is located in Eden on the Bay, the popular beachfront development in Cape Town’s Big Bay. The unit is on the market exclusively through Pam Golding Properties, priced at R2.15 million.

Pam Golding Properties (PGP) reports that its agents in the area have sold 44 properties in the ten month period from January to October 2013, to a total value of over R88 million. That’s already well above their total sales for the whole of 2012 (31 properties at a total value of close to R68 million). The demand continued unabated throughout winter, despite that fact that such coastal suburbs typically see a drop-off in sales during this period.

PGP’s area principal Emarie Campbell says demand is emanating from a mix of buyers, including investors looking to capitalise on rental opportunities and upcountry residents relocating from Gauteng who are attracted by the secure lifestyle offering. Interest from international buyers has strengthened on the back of the weak rand, while there is also appeal to existing Cape Town residents who appreciate the laid-back seaside lifestyle – especially those involved in watersports. “Big Bay remains one the most sought-after destinations for surfers, kite-surfers and wind-surfers,” she says, “and is also a very family-friendly environment, with access to a good network of nearby private and government schools, medical care and shopping. Recent upgrades in transport infrastructure have also improved access to the whole Western Seaboard area, reducing commuting times and alleviating some of the traffic congestion.”

This 382sqm plot is located in the popular Big Bay development “Water’s Edge”.  It is on the market exclusively through Pam Golding Properties, priced at R1.75 million.  

While Big Bay is a relatively new suburb, Campbell says it is maturing rapidly, with its numerous secure developments becoming more established, vacant erven being developed and the population starting to see a shift towards more permanent residents. “While this shift has resulted in a decrease in available rental units, it is good news for the area overall, increasing property values in some developments, and contributing to the sense of community,” she says. “The area is now so popular that we have clients phoning ahead from Johannesburg to book their viewings even before they arrive in Cape Town, as well as increased website enquiries. And while in 2012 the most sought-after properties were apartments in the R1 million to R1.5 million price bracket, that range has shifted upward of R2 million this year (2013).”

The area’s secure estates remain the most popular choice for many buyers, with particularly strong demand for three-bedroomed townhouses at present. “The Kingshaven development is particularly popular,” says Campbell, “with many clients specifically requesting this estate above all others. The result is a shortage of stock – we simply cannot keep up with the demand in this particular estate. In the past year PGP has also achieved the highest prices yet secured in Kingshaven – a R2.6 million sale in December 2012 and R2.5 million in August 2013, topping the previous record of R2.1 million.”

The view from a two-bedroomed penthouse apartment which is on the market in Eden on the Bay, Big Bay, exclusively through Pam Golding Properties. Priced at R4.3 million, the unit measures 108sqm and is located right on the beachfront with luxury top-end finishes.

PGP agents also sold all but one of the 28 units in Ocean Mist, which is now proving popular for holiday rentals and re-sales, with buyers attracted to its spacious open-plan interiors and north-facing aspect. Eden on the Bay remains popular with young professionals who want to live right on the beachfront with easy access to shops and restaurants, while its upmarket penthouses appeal to higher-end buyers, thanks to their good size, secure underground parking and excellent value for money, as well as unmatched views – prices for these units start from around R3.5 million.

The Big Bay Beach Club holds particular appeal for Gauteng buyers wanting a lock-up-and-go holiday pad close to the beach. Campbell says the range of facilities on offer at this development ensures consistent rental returns, and its apartments are affordably priced between R1 million and R2.5 million.

“Another popular development is the upmarket Water’s Edge, which has just four vacant developer’s stands still available for purchase from R1.9 million,” she says.  “We expect these to sell by the end of the peak summer season.”

Those seeking larger family homes tend to favour estates such as Sandown Estate, Blouberg Hills and Dune Ridge, which offer sizable plots, spacious homes with good finishes, and excellent security.  Prices here range from around R2.9 million to R5 million. These estates are among the most popular with international buyers, with clients coming mainly from the UK and Germany, as well as a few from Dubai.

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