The “Western seaboard” of Cape Town continues to offer investors some of the best value in terms of seaside property and there are numerous lock-up-and-go opportunities along this stretch of coast appealing to the second home buyer across the country.
Dave Jennens, Developments Manager of Lew Geffen Sotheby’s International Realty, Blouberg says, “Many locals feel that Blouberg is too far out-of-town to be a viable investment option, despite being just 20 km outside of the CBD, however, for up-country and international investors who don’t need to brave the rush hour, the Beachfront value this area offers is seriously attractive.
“Staggering annual value escalations were seen in 2004/05, well in excess of 50 % pa and expectedly, as in other prime locations, things have settled down since then but the Beachfront in the Blouberg area still offers extraordinary value for money - and returns - for both local and international investors.
“By way of example, we’re just about to launch the superb Bona View development, in the Blouberg suburb of Big Bay, consisting of 71 units selling at between R 1.3 and R 2.9 million. Units range in size from 138 to 204 square meters, which averages out to around R 12 400 per square meter – for properties with incredible sea and Table Mountain views.”
Jennens says that along the Atlantic Seaboard, bordering the Cape Town metropole, a development of the same quality and in a similar location could easily cost R30 000 to R40 000 per square meter.
The development offers 24-hour security, it is a five minute walk from the beach and in close proximity to shops and restaurants in the quaint ‘Seaside Village’ shopping complex, literally a 1 minute walk from residents’ front doors.