Leisure and in­vest­ment buy­ers shop for West Coast prop­erty again

Weekend Argus (Saturday Edition) - - PROPERTY -

AF­TER three years of sub­dued ac­tiv­ity, leisure and in­vest­ment buy­ers are shop­ping for good real es­tate buys on the West Coast, say Se­eff agents for the area.

“Prop­erty sales in Vre­den­burg, the area’s com­mer­cial cen­tre, im­proved to 136 in the last year from 103 the year be­fore. Lange­baan has seen a steady im­prove­ment from 48 sales in 2009 to 78 worth R60.7 mil­lion in the past year,” says Ma­rina Enslin.

“In the small fish­ing vil­lage of Pater­nos­ter, prop­erty sales rose 36 per­cent to 38 in the past year from 28 the year be­fore.

“More than half the sales in Lange­baan and Pater­nos­ter have been to hol­i­day and in­vest­ment buy­ers, mostly from the Cape metro and winelands.”

Mare­lize Huysamen says: “Al­though the Sal­danha in­dus­trial de­vel­op­ment zone and in­ter­na­tional sta­tus for the port are ex­pected only in Au­gust, de­vel­op­ment and in­vest­ment in the area are al­ready trans­lat­ing into in creased de­mand for rental ac­com­mo­da­tion in Lange­baan.

“For­est Oil’s in­vest­ment of R30m in the lo­cal gas sec­tor has cre­ated about 115 per­ma­nent jobs and home seek­ers, and about 230 work­ers needed rental ac­com­mo­da­tion dur­ing the con­struc­tion-phase.

“The build­ing of wind tur­bines be­tween Hope­field and Lange­baan by South­wind So­lu­tions is also well un­der way, adding to the de­mand.

“This de­vel­op­ment will boost rental and sales de­mand over the next three years.”

Huysamen says the de­mand from de­vel­op­ers is mostly for fur­nished ac­com­mo­da­tion in Lange­baan with rental pe­ri­ods of be­tween three and eight months. Rentals range from R2 800 to R13 500 a month.

“A p a r t me n t s a t C l u b Mykonos are pop­u­lar for hol­i­day rentals,” says Merle Ni­cholls. “Buy­ers can ex­pect to pay R1.86m for a mod­ern fur­nished three- bed­room unit with a garage and park­ing bay, bal­cony and sea views.

“Such units can fetch rentals of R5 500 a week dur­ing the peak hol­i­day sea­son. Ar­eas such as La­guna Sands, Lon­gacres and Blue La­goon in par­tic­u­lar are now pop­u­lar with buy­ers who work in Vre­den­burg and Sal­danha

“Blue La­goon is sought af­ter as it is within walk­ing dis­tance of the beach and close to the vil­lage cen­tre and Club Mykonos with its casino and restau­rants, La­guna Mall and two schools.

“Properties here sell for be­tween R1.4m and R3.2m.”

About 75 per­cent of sales in Pater­nos­ter over the past year have been to in­vestors, who are now let­ting their properties at be­tween R7 000 and R40 000, says Enslin.

“Ac­tiv­ity over the past year was boosted by banks’ will­ing­ness to take po­ten­tial rental in­come into ac­count when grant­ing bonds.

“The best value on of­fer is in Die Kom, a beach­front de­vel­op­ment with fish­er­man- style homes where a few are still avail­able di­rectly from the de­vel­oper, priced be­tween R1.85m for two bed­rooms and R2.3m for three bed­rooms,” says Enslin.

“No trans­fer duty is payable, which is a bonus for buy­ers. Cot­tages bought from the de­vel­oper gen­er­ally re-sell for be­tween R2.1m and R3.9m.

“This de­vel­op­ment is pop­u­lar with week­end and hol­i­day vis­i­tors and daily rates range from R500 for two peo­ple to R3 200 for six.”

AFLOAT: Club Mykonos on the West Coast is pop­u­lar with hol­i­day­mak­ers.

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