Mak­ing the most of the coast

Cape Town’s sea­side sub­urbs of­fer di­ver­sity in prop­erty types, prices and lifestyle

Weekend Argus (Saturday Edition) - - PROPERTY -

THE NUM­BER of Cape Town buy­ers from out of town is con­stantly in­creas­ing, ac­cord­ing to re­ports from FNB prop­erty econ­o­mist John Loos, and homes on the coast are al­ways first prize for those mov­ing from the up­coun­try prov­inces.

How­ever, liv­ing close to – or on – a beach­front usu­ally car­ries a hefty price tag and is out of reach of many buy­ers.

“Many peo­ple might think one coastal sub­urb is pretty much the same as an­other. But if you drive along the coast from Melk­bos and Blou­berg on the West­ern seaboard to Sea Point on the At­lantic seaboard and on through Llan­dudno and Hout Bay, and over to Muizen­berg and the other False Bay sub­urbs, you will see there is a vast change in types of prop­er­ties for sale. The ar­eas also dif­fer enor­mously in lifestyle, and it’s easy to as­sume this di­ver­sity is why Cape Town is such a pop­u­lar place for peo­ple to set­tle,” says Ne­lio Men­des, mar­ket­ing man­ager of IHPC es­tate agency.

“Prices in the dif­fer­ent sub­urbs vary in keep­ing with lifestyle and prop­erty types, and the key ar­eas have many dis­tinct ben­e­fits,” he says.

In Blou­berg, there is a mix of sec­tional ti­tle and free­hold prop­er­ties, in es­tates as well as free­stand­ing. The em­pha­sis here is on a beach and wa­ter­sport lifestyle, par­tic­u­larly kite surf­ing, and most peo­ple who buy here are be­tween 50 and 64.

How­ever, there is a large buyer base (27 per­cent) in the 36 to 49 age bracket. The at­trac­tion of Blou­berg prop­er­ties is they are within a few min­utes of the beach – if not di­rectly on the beach­front – and the av­er­age prices are still af­ford­able for many home­buy­ers.

Re­cent Light­stone data lists the me­dian sell­ing price of free­hold prop­erty in Blou­berg at just over R5 mil­lion, and the av­er­age price for sec­tional ti­tle prop­erty is around R2.9m. Blou­berg has the ben­e­fits of hav­ing a hol­i­day at­mos­phere, and many res­i­dents are will­ing to com­mute ev­ery morn­ing to the CBD or north­ern sub­urbs, even though the traf­fic might be heavy, says Men­des.

Sea Point is a densely pop­u­lated sub­urb with the typ­i­cal hus­tle and bus­tle of city liv­ing and a cos­mopoli­tan at­mos­phere. There are fewer free­hold prop­er­ties than most other sub­urbs with 87.55 per­cent of homes in sec­tional ti­tle schemes. Sea Point grew as a res­i­den­tial sub­urb in the early 1800s. Most of the apart­ment build­ings are old and though many have been ren­o­vated, there are still a num­ber that are in need of mod­ernising. Apart­ment sizes in Sea Point are big­ger though com­pared to many of the newer de­vel­oped ar­eas, which is of­ten the draw­card here, says Men­des.

Ac­cord­ing to Light­stone the ma­jor­ity of re­cent buy­ers in Sea Point are in the ma­ture age bracket, from 50 to 64, with 30 per­cent be­ing 36 to 49 years old. Prop­erty in Sea Point is sim­i­larly priced to that of Blou­berg, with free­hold prop­erty sell­ing at a me­dian of R5.6m and sec­tional ti­tle around R2.9m.

Hout Bay is pop­u­lar with the horsey set and those who want wa­ter­sport fa­cil­i­ties, and, with 27 ar­eas to choose from, has a vast range of pric­ing as well as prop­erty types for sale. Me­dian prices here range from R1.5m for sec­tional ti­tle units to R3.5m for free­hold prop­erty and R4.576m for free­hold prop­er­ties in es­tates. A high per­cent­age (42 per­cent) of the buy­ers in Hout Bay are in the 36 to 49 year age bracket with 30 per­cent be­ing 50 to 64 years old.

Muizen­berg is well known for its surf and long stretch of beach. It is also one of the ar­eas that is ideal for young fam­i­lies as the prop­erty prices here are still af­ford­able com­pared to other coastal sub­urbs.

“The me­dian price for free­hold prop­erty – which ap­plies to most prop­er­ties here – is R2.042m and R746 000 for sec­tional ti­tle. Fig­ures for re­cent buy­ers in Muizen­berg in­di­cate that younger buy­ers are mov- ing to this area, most of whom are in the 36 to 49 year bracket ( 43 per­cent) and 30 per­cent from 18 to 35 years old.”

“There are def­i­nitely prop­er­ties to suit av­er­age buy­ers in some coastal sub­urbs, as they are not all in the lux­ury or su­per-lux­ury cat­e­gories such as Camps Bay, Bantry Bay and Clifton. In all these ar­eas there are good schools nearby, most of the ameni­ties you could want, as well as be­ing a rea­son­able dis­tance to the Cape Town CBD.”

View of Ta­ble Moun­tain, Devil’s Peak and Lion’s Head from Blou­berg, an area pop­u­lar for wa­ter­sport and a beach lifestyle.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.