Buyers scurry to live on the tip of Africa

The release of the last 100 Ocean View Heights stands on to the Struisbaai market has generated a flurry of interest from buyers keen to own their own piece of the southern most tip of Africa.

"We've had a huge amount of interest from both local and foreign buyers since announcing the July 1 launch of the final phase of the development," said Strepies van Wyk, principal of joint marketing agents Realty 1 Elk.

"I think it's because Cape Agulhas is finally on the map, not only geographically in terms of its status as the official meeting point of the Atlantic and Indian Oceans but also because of its growing reputation as one of South Africa's top holiday destinations."

Another reason for the mounting popularity of the area was its value for money property market, she added. "There are very few areas left in the Western Cape where you can still buy prime, sea facing land for much less than R1 million. In Ocean View Heights, however, you can get a north-facing site with a seaview for less than R500 000. And while the price of a stand is influenced by its views, the whole development is located on prime land within walking distance to the sea, which is a big attraction for investors and holiday buyers."

Prices were also very competitive when compared with the local second-hand market and other developments in the area.

Van Wyk also attributed some of the success of the 360-site development, which witnessed a first and second phase sellout within weeks of launching, to the amount of freedom that owners had. "Unlike most other developments, there is no time limit on when units have to be built. And while the minimum size for a home is 160 square metres, owners have a large amount of flexibility in terms of design."

The 100 stands comprise a selection of north and south eastern-facing sites, some with sea and beach views and others with south eastern views of the rocky coastline. Stands vary in size from 550sm to 1400sm, and in price from R250 000 to R490 000.

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