Healthy Hermanus market is attracting a wide mix of buyers
AN INCREASING demand for homes in Hermanus is driving rising sales across all price bands, says Annien Borg, managing director for Pam Golding Properties in the Boland and Overberg.
“From July to September we sold property worth over R61 million, which is treble the value for the previous three months and 140 percent more in units. This increased activity in the market has continued in October with R27m in transactions, a trend which is expected to prevail as our busiest season is from spring through to summer and until after Easter.”
She says that earlier this year a seafront home in Kwaaiwater was bought for R18m to be demolished, and more recently three seafront properties in the suburb of Westcliff were bought for R5.5m, R6.4m and R10.6m.
“Westcliff is in the oldest part of Hermanus, close to the new harbour which is to be upgraded in a R23.5m investment project. It’s close to the centre of town and enjoys some of the most scenic sea views and this is a very sunny area that still offers exceptional value for money. As a result we believe Westcliff is an up and coming location, particularly as properties with sea views in other areas are scarce.”
Wendy Cottage, which was sold for R10.6m, is a small heritage house on a plot with enough room to build an additional, separate house, close to the cliff edge. The buyer is a local resident who owns a farm in the Hemel-en-Aarde Valley and plans to build a luxury home in the future.
“This property was on the market for six years, and has set a new benchmark for the Westcliff area. According to Lightstone statistics, the previous highest price achieved in the area was R10.57m in 2014,” says Borg.
Renowned for its whale watching, Hermanus has become a primary residential destination for many home buyers, and Borg says that at least 70 percent of buyers are moving to the area permanently. “This used to be a holiday village because of family traditions and the beautiful beaches, however the proximity to Cape Town, only 120km away, and good infrastructure including good schools, a hospital and shopping centres as well as easy access to Stellenbosch University, makes it a very obvious choice for people from around South Africa. It’s a thriving commercial hub, with many self-employed owners.
“Most of our buyers are from the Western Cape, KwaZulu-Natal and Gauteng. The Curro private school has definitely attracted a growing number of families from all over. Western Cape buyers mostly want luxury homes for leisure use.”
According to Lightstone statistics, 37 percent of buyers from October 2014 to September 2015 were between 36 and 49 and 32 percent from 50 to 64.
Borg says apart from seafront property or homes with good sea views – as in the high-demand area of Eastcliff, golf estate property is sought after, such as in Fernkloof Golf Estate. Pam Golding Properties recently sold a Fernkloof home in Lakewood Village for just over R10.5m.
Call 028 312 1110, e-mail firstname.lastname@example.org, email@example.com
HERITAGE: Aerial view of Wendy Cottage in Hermanus, which was recently sold for R10.6 million.