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Holiday-home buyers back in Mossel Bay

Investor confidence in Mossel Bay on the Garden Route has improved markedly and sales of holiday homes in the town have picked up accordingly in recent months.


8 Bedroom House for sale in Outeniqua Strand, Mossel Bay
 
“The recession had a major impact on this segment of the market,” says Japie van Zyl, owner of the local RealNet real estate franchise. "Second homes were among the first assets to be sold off when consumers got into financial trouble and a surplus of units on the market led to prices falling dramatically. Any development of new holiday units also came to a halt."
 
However, he says, the mood of the market is now definitely more optimistic and there is renewed interest in holiday homes as investments, with buyers from inland regions returning to the Garden Route - and notably the Mossel Bay area.


4 Bedroom House for sale in Pinnacle Point Golf Estate
 
"Around 80% of enquiries about holiday homes for sale in Mossel Bay and other favoured destinations such as Hartenbos now come from buyers in Gauteng, Limpopo and the Northern Cape. And in Hartenbos, a popular holiday and retirement destination, about 50% of all residential units are now holiday homes.”
 
Van Zyl says the climate in Mossel Bay is a big attraction for holidaymakers as well as retirees; according to the Guinness Book of Records it has one of the mildest all-year climates in the world, second only to Hawaii."
 
Many buyers, he adds, rent out their properties on short contracts during the year and reserve their units for their own use during the December holidays. "This strategy has financial as well as security benefits - tenants help to service the bond and occupied property is less vulnerable to vandalism."


4 Bedroom House for sale in Mossel Bay
 
Meanwhile, the resurgent demand for holiday properties has also stimulated new development. Van Zyl says this is nowhere near pre-recession levels but that small developers have started buying up large stands, subdividing and building neat duets that find favour among holiday buyers.
 
Prices of luxury duets in Mossel Bay with three bedrooms, three bathrooms, double garages and features such as indoor braai rooms, range between R1,85m and R2,2m. Three-bedroom townhouses sell from around R1,35m.


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