The new sectional title development is now available to meet the demand for lock-up-and-go lifestyle in the area.
There is a shortage of sectional title property in Hout Bay given that it comprises just 17% of all available property in the area, says Stephan Cross, Seeff’s Sales Manager for Hout Bay and Llandudno. Yet, when we look at the sales reported on Propstats, its shows that sectional title makes up 26%-30% of all units sold, such is the demand.
It is therefore opportune that a new sectional title development, Royal29, offering six upmarket apartments, is now available to meet the high demand for the convenient lock-up-and-go lifestyle. These type of units are also very popular for rentals and thus present an outstanding investment opportunity to earn good rental returns. Aside from residential rentals, Hout Bay is very popular for holiday and short-term rentals, he adds.
To view more of this new development, click here.
The pricing is also very accessible, starting at just R2.599 million with the benefit of no transfer duty payable, says Seeff agent, Ingred Blicher Hansen. Add to that, an excellent location along with stunning mountain views and a glimpse of the bay. There is also a path that leads to the beach, so it is an excellent spot for a holiday home as well, she says. The development is also conveniently located with walkability not just to the beach, but also to main attractions such as shops, restaurants and the MyCiti Bus service.
Designed by Darryl Croome Architects, the complex offers contemporary architectural design for modern open-plan indoor-outdoor living, taking advantage of the fabulous climate and coastal setting. The units range in size from 77sqm-133sqm and each is unique. Features include generous kitchens with plenty of cupboards and storage, full en-suite bathrooms with a freestanding bath for the main bedrooms and greening features such as water-wise indigenous landscaping, rain water harvesting, solar water heating and heat pumps and LED lighting.
Buyers can choose from two styles of units, three simplex units on the lower level and three duplex penthouse units on the upper level. The lower level garden units come with two bedrooms and a split level timber deck and braai terrace, splash pool and generous garden. The penthouse units offer double-volume living, a mezzanine study that overlooks the living area, three bedrooms and braai terrace with plant boxes.
The complex offers excellent security and access control as well as secure basement parking and optional storerooms. Cross and Ms Blicher Hansen also point to the lifestyle and amenities in Hout Bay as a very important driver for the property market. Development over the last few years, has added significant amenities and attractions such as schools and shopping, all of which has made Hout Bay the perfect alternative to the Atlantic Seaboard.
Hout Bay offers a unique mix of natural beauty with mountains, forests and vegetation in abundance as well as a beautiful bay with a stunning swimming beach and popular fishing harbour and waterfront attraction. It boasts a dynamic property market with good activity levels despite the economic challenges, says Cross. Property prices are not just holding out well, but are up by 13% since last year.
Hout Bay is attracting buyers from across the Cape metro as well as a fair chunk of semigration along with foreign investors looking for a summer home in Cape. Cross and Ms Blicher Hansen expect these units to attract significant interest. At this price, interested buyers should not hesitate, they conclude.