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Knysna property market on track

Property sales volumes in and around Knysna on the Garden Route are increasing and stock shortages in certain price ranges are now becoming apparent.
 

3 Bedroom House for sale in Pezula, Knysna

Renate du Rand, owner of the local RealNet franchise, says the market is showing strong signs of recovery after the recent economic crunch, but that it remains to be seen what, if any, influence the small hike in interest rates at the end of January will exert on the market in the longer term.
 
"At the moment, properties in the R1,5m and R2,5m price range remain in strong demand while there is also sustained interest in the R3m to R5m price range among international buyers and South Africans currently working abroad but planning to return to the country.
 
"Local buyers include a large number of retirees who are selling their out-of-town properties or smallholdings to move to smaller homes in town. They usually pay cash and favour properties in the R1m to R2m price range. At the same time, we have noticed a strong inflow of younger families setting their sights on living along the Garden Route and they often target vacant stands and smallholdings," she says.
 
"Niche market properties such as eco homes, uniquely located properties and properties with special features, such as river frontage and landing strips, are also in demand - we have, for instance, just sold a large property with its own landing strip on the outskirts of Knysna to a young American family."


3 Bedroom House for sale in Knysna Heights
 
Lifestyle, she adds, remains the biggest draw card for buyers on the Garden Route. The mild climate, natural beauty, good infrastructure and good prospects for solid returns on investment add to the appeal.
 
Du Rand says her franchise currently has a number of unique properties on its books. The list includes a 2231sqm vacant stand on the banks of the Kaaimans River which is priced at R3,8m. With wide views of the Wilderness beach, the property's appeal lies in its prime location.
 
Then there is an unspoiled tract of land, 31ha in extent, situated high above the surrounding lakes and with panoramic views of the entire Sedgefield basin and the ocean. This is currently on the market for R4,38m.
 
In the lower price ranges, a well-appointed smallholding in Wilderness is available at R1,5m and a stand in the Kraaibos Country Estate at a mere R172 000.
 
"This sampling of available properties illustrates the wide range - and prospective buyers should not wait too long since stock is moving fast," she cautions.


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