Activity picks up in Somerset West
- 11 Mar 2009
Although many properties around Somerset West have been put at risk by terrible veld fires lately, the real estate market in the Western Cape town is generally showing increased activity as local and international buyer sentiment improves.
So says Joan Gibb principal for the local Chas Everitt International franchise, who notes that the local property market has experienced a definite upward swing of late; a movement that she attributes to positive buyer sentiment and the fact that Somerset West has much to offer potential residents.
Available properties range from family friendly, entry-level homes at around R900 000 to “über-luxurious” security estate mansions in the R5m and more bracket.
“Somerset West has something for everyone,” says Gibb. “Good quality two- and three-bedroom homes can be bought from R800 000. Above R2m and up to R9m you’ll find everything from generously proportioned family homes to exceptional properties with magnificent views. These types of properties can be found at Erinvale Golf Estate which is particularly popular with overseas investors.”
The Somerset West lifestyle is an enviable one and draws buyers for obvious reasons. Although commercialised and relatively built up, it’s removed from central Cape Town and therefore enjoys a quieter ambience. However, residents enjoy easy access to the Cape Town CBD as well as the international airport, winelands and the coast, and usually have great mountain views to boot.
“Retirees and families from Johannesburg are also making an appearance in the town. There are a number of excellent schools in the vicinity as well as some upmarket retirement villages, which does much to pull these types of buyers. Helderberg Village which lies north of the town centre is particularly popular with retirees,” Gibb says.
Consequently, the recent holiday season proved profitable for the branch, she notes. “The team hosted an exhibition at the local mall which resulted in a number of sales. Luxury gated estates are currently proving the most popular with buyers semi-grating from Gauteng.”
Meanwhile, development in the town has remained brisk, particularly around Somerset Mall where a major mixed-use node is under construction by the Heartland Properties group. The development includes a man-made marina and is already generating major momentum for the area.