With coastal apartments on offer from just R500,000, it is no surprise that value for money has seen the Gordons Bay property market remain active despite the economic pressure according to Louelle Lubbe, Seeff’s licensee for the area. While the market has felt some decline over the last year, it has been far less compared to many other areas.
Entry-level prices for vacant land and apartments start at R500 000, and free-standing properties range from just R1m to R,5 million, making this section of the market the most affordable. She says that sellers in this price range are still achieving 90% - 100% of their asking price.
Properties in the price bracket above R4 million tend to stay on the market longer with sellers achieving in excess of 70% of their asking price. There is, however, a steady stream of buyers looking at property options in this range and she expects the trend to continue with free-standing properties becoming scarcer.
The median property prices have increased quite rapidly during the last three years and, given the economic climate, we expect prices to stabilise for a short while. Sellers need to understand that it is critical to enter the market at a market-related price, she says.
Gordons Bay is regarded as somewhat of a hidden jewel of the Helderberg and Western Cape. With the Hottentots Holland Mountain range as a backdrop and situated in the Kogelberg Biosphere, she says this quaint village hugs the shore of spectacular False Bay and is reminiscent of the Atlantic Seaboard, but at a fraction of the price.
The Cape’s water troubles, seasonal living and the absence of a secondary school has influenced this market somewhat. She says further that the town council is doing their utmost to ensure the integrity of the village is retained by taking a strong stand on high-rise developments and focusing on development of infrastructure such as shopping malls, refurbishing of the old harbour and upgrading of roads in the area. These factors and the potential for new developments bode well for the future of Gordons Bay property.
It is definitely an area that buyers should look at. Aside from being a residential area with easy access to Strand, Somerset West, Stellenbosch and Cape Town, Gordons Bay also offers an excellent opportunity for holiday and retirement buyers. You can find much more bang for your buck here, she says. Buyers should look at property as a long-term investment and in Gordons Bay you are not just investing in property, but into a lifestyle within a close-knit community.
Property choices are varied and range from vacant land at affordable prices to sought-after stands in Mountainside which offer spectacular views over the Helderberg and the False Bay coast. Additionally, you can find anything from small apartments with a great yield to luxury beach front apartments, upmarket marina living, golf estates and affordable family homes. In the Firland area, you will find a country lifestyle.
No wonder then that buyers from Gauteng, Kwa-Zulu Natal, the Free State and Europe are flocking to this well-kept secret, she says. Gordons Bay is still an investor’s dream and buyers and investors will find value for money, a village lifestyle, security and a sense of tranquillity.