Visitors will flock in their thousands to Cape Town this summer, and some may consider buying a holiday home in the area. Here are the some popular areas for holiday homes.
With the summer tourist season now just about in full swing, people from all over the country along with thousands of foreign visitors will once again descend on the Cape with its beautiful sandy white beaches and array of tourist attractions.
The Cape offers a wide range of options and prices, and with the subdued selling conditions, you may just find a good holiday buy this year. There is a wide choice of areas, property types and prices which range from around R2m to as much as R200 million for a sea view.
Seeff’s agents highlight a few popular areas and what you can expect to pay:
Clifton and Camps Bay (Atlantic Seaboard)
If you have about R20 million to R60 million to spend, you can find a fabulous villa in Clifton or Camps Bay. Clifton offers beach bungalows, waterfront apartments and luxury villas against Lion’s Head while Camps Bay offers a wide range of options, from apartments to villas. Both areas have top ranked Blue Flag beaches, hot spots for Instagrammers and celebrities.
Set between mountain and sea, you simply cannot ask for a better location, says Ian Slot, Seeff’s MD for the areas where you can holiday in luxury and enjoy a fabulous Cosmopolitan lifestyle while still assured of a top class investment. History has shown that property values here have appreciated at some of the highest rates in the country. This premier area attracts buyers from all over the country, wealthy investors from Africa, and is a popular second home for UK, German and other European buyers.
Bantry Bay and Mouille Point (Atlantic Seaboard)
For luxury lock-up-and-go apartment living, the waterfront complexes in Bantry Bay and Mouille Point are ideal, provided you are able to spend upwards of R8 million to as much as R80 million for a super luxurious beachfront unit with a private pool.
Seeff agents Adrian Mauerberger and Cecily Sher offer some of the best selection of luxury units to suit every buyer. Ross Levin is also launching an exciting new development, the first in five years, in Mouille Point. The O’Two development’s first phase will be completed early next year and the international developer is bringing a whole new level of luxury living to this high demand area. Prices are expected to range from under R9 million.
As one of the top kite surfing destinations in the world with a long stretch of sandy white beaches, Bloubergstrand offers a number of seaside suburbs with many apartment complexes and security estates with sea views or close proximity to the beaches.
According to Seeff, you can expect to pay upwards of R2m-R8m for a beach apartment with beach front locations obviously attracting higher end prices. Aside from the beaches, you are also close to a host of restaurants and bars. A new beach front addition, C’est La Vie offers a new level of luxury with just four new apartments, each 300sqm in size, priced from R18.995m.
Hout Bay and Llandudno
Hout Bay is popular for its scenic setting and attracts thousands of visitors every year to its harbour, lined with fishing trawlers. It is popular for retirement buyers and for second homes for UK, German and other European buyers looking to escape to the Cape during the cold Northern Hemisphere winters. Hout Bay offers a street café vibe with many restaurants and eateries. There is a broad range of property to choose from. Apartment prices range from R1.8m range and townhouses and houses from around R2.6m. There are also a number of luxury gated estates, priced in the upper millions.
Neighbouring Llandudno offers a stunning mountainside location with fabulous views and luxury homes, generally priced in the upper millions. There is no commercialisation, and it is well-known for Sandy Bay, South Africa’s popular nude beach.
St Helena Bay (West Coast)
For really good value for money, be sure to take a look at St Helena Bay on the Cape West Coast. Karin Holloway from Seeff says that she is now marketing Phase 3 of the Jaloersbaai development, priced at just R998,800 for a fisherman-styled three-bedroomed house with a garage.
St Helena Bay is a fishing town and offers a laid-back lifestyle, ideal for holiday and retirement. It is under two hour’s drive from Cape Town. In addition to local facilities, it is only about twenty minutes from the commercial centre of Vredenburg where you will find everything else including a regional shopping mall.
Hermanus, Onrus, Sandbaai and Vermont (Overberg)
Hermanus and its surrounding villages need little introduction and is a global attraction for whale-watchers. It is close to Cape Town and the airport which is a big advantage and offers top class amenities according to Paul Kruger, Seeff’s licensee for the area.
It is an attractive option for holiday makers and retirees, and there is a wide selection of areas, property types and price ranges to choose from. Generally, you can expect to pay from around R2 million to about R20 million for a top end millionaire house, although really stand-out properties are priced well above this. Property is an excellent investment here and regardless of where you buy, you have access to all of the coastal and Overberg attractions including the Hemel-en-Aarde wine valley.
Betty’s Bay and Kleinmond (Overstrand) Located in the scenic Kogelberg Biosphere Reserve just over an hour’s drive from Cape Town, the villages of Betty’s Bay and Kleinmond are surrounded by fynbos as far as the eye can see, scenic mountains and white sandy beaches. These are some of the most attractive for holiday and retirement home buyers who can enjoy a healthy lifestyle with clear, unpolluted skies, little traffic and relative security.
There is still good value to be had with prices starting from just R1.3 million and ranging to around R5m for a top end home according to John du Toit from Seeff.
Struisbaai, Arniston and Witsand (Southern Cape)
Beautiful white sandy beaches and quaint homes are some of the attractions of the Southern Cape coastal villages that stretch from Struisbaai to Arniston and on to Witsand. In the Struisbaai area, you will find the southernmost tip of the African continent where the Atlantic and Indian Oceans meet. It is renowned for shipwrecks and the famous red and white Cape Agulhas Lighthouse. House prices range from R1,25m-R5m and there is also still some vacant land available.
Witsand offers a 4km pristine beach and waterfront properties around St Sebastian Bay and overlooking the Breede River estuary. It is a popular whale-watching spot and also attracts anglers for its fabulous fishing. Prices range from R1,2m-R5,5m to a top price of R7,5m. Ocean or estuary views sell from R2,2m and vacant land from R300,000.
Test before you invest
Seeff chairman, Samuel Seeff advises those looking to invest in a coastal holiday home to consider their options carefully. Living away from where your property is located means that you will need to budget for additional costs including someone to manage and keep an eye on the property in your absence as well as security.
If you are looking to put your holiday home or flat on Airbnb or in the local rental market, you are best advised to ensure that you do your homework and check up on the demand for rentals, seasonality, availability of stock and potential overstocking in the market as well as the rental rates that you can realistically expect.
Investing in a second property is a big step and you need to do your homework and budget carefully for the costs associated to holding a second property, from the monthly utility and property taxes to possible maintenance and the management of the property.