Resort-style living has Camps Bay properties reaching new heights
EVERYDAY resort-style living is luring more local and foreign buyers to Camps Bay, acoording to Seeff.
Although Camps Bay has always ranked among the top Atlantic seaboard neighbourhoods, in the past two years there has been a noteworthy uptick in buyer activity and average prices, say Seeff agents Rochelle Serman and Lyn Pope.
“Camps Bay sales for 2012 were up by just over 40 percent over the previous year in rand value. A total of 95 properties worth almost R695 million were sold here compared to 78 properties worth R496.3m in 2011.
“Market activity for this year is already off to a positive start with about 49 property sales to the value of R351.8m already reported. The suburb also ranks tops with foreign buyers. This year, around 16 properties worth almost R150m were bought by buyers from across the globe including the UK, Europe, USA, Middle and Far East and African countries such as Nigeria, Angola and Congo,” say Serman and Pope.
“The average freehold house price has also strengthened by just over 17 percent in the last year to around R8.556m, up from R7.3m in 2011 and significantly better than the national average house price growth of around 5 percent to 6 percent reported by FNB. The strong market is further evidenced by the continued strengthening of buying activity at the top end. Around eight properties worth over R10m have been sold in Clifton, Bantry Bay and Fresnaye and nine in Camps Bay.
“For the whole of 2012, only 10 Camps Bay properties priced above R10m were sold.”
The agents say the suburb’s resort-style homes continue to sell for prices that range from R12.75m at The Grange to R18.5m for a luxury villa in Woodford Avenue.
A new listing is for sale at R18.95m in Shanklin Crescent where a home was recently sold for R20.4m. The 430m double storey house on a 1 021m2 plot was designed by Neil Sachs of Zuckerman Sacks Architects.
Finishes include air-conditioning throughout and under-floor heating in the living areas and bathrooms. A portion of the home’s electricity needs are provided by solar power.
SLEEK STYLE: This Shanklin Crescent house designed by Neil Sachs of Zuckerman Sacks Architects is for sale at R18.95 million.