Regarded as one of Port Elizabeth’s fastest-growing suburbs, Bluewater Bay is situated midway between the “Windy City” and the deep-water harbour development of Coega. The development which to date has cost R10-billion is adjacent to the massive Coega Industrial Development zone that covers some 110km2. Home to Volkswagen, Mercedes Benz and General Motors as well as over 180 component suppliers, the initiative continues to draw large numbers of people to the Eastern Cape.
Renowned for its glorious white sandy beaches and the fantastic views of Algoa Bay on offer, Bluewater Bay is regarded as one of the rising suburbs in Port Elizabeth. Regular dolphin sightings, walking trails and the overall laid-back atmosphere of the suburb only form part of the attraction. Set close to the Swartkops River and salt pans as well as the Sundays River, the area offers a wealth of outdoor activities including kayaking and canoeing.
Statistics released by Lightstone reveal that there have been a total of 93 transfers in the area in the last 12 months. In terms of market mix, property in the area is mainly freehold and only 12.72 percent of the property in Bluewater Bay falls under the sectional title banner. The statistics reveal that price averages in the last 12 months came in at R751 000 for a freehold property and R666 000 for a sectional title property. The area also appeals to the middle market homeowner, with 38 of the homes in the area selling for prices ranging between R800 000 and R1.5-million. The highest price paid for a property in the area in 2011 was R1.850-million.
It is clearly evident that the number of sales that have been concluded in recent years has dropped drastically form the pre-2008 sales volumes that hovered above the 250 mark. The area does seem to appeal to the younger crowd, with approximately 30 percent of recent buyers to the area being under 35 years of age. In terms of those who are of retirement age, only 2.15 percent of recent purchasers were over the age of 65.
The area does seem to offer a certain level of stability and residents tend to put their roots down once making Bluewater Bay home. Those who have resided in the area for longer than 11 years make up 31.45 percent of existing residents. The fact that the suburb is situated about 15 minutes outside Port Elizabeth may be one of the drawcards that attracts permanent residents; however, the area does have its own primary school as well as a well-stocked supermarket.
Regarded by many as the gateway to the world-renowned Addo Elephant Park, the area also features a wide variety of game lodges, boutique hotels and bed and breakfast establishments. Proclaimed as a national park in 1931, the Addo Elephant Park is now the third largest reserve in the country and at its inception there were only 16 elephants remaining in the area. Today, the sanctuary is home to over 550 elephant as well as lion, buffalo, hyena, leopard and the highly endangered black rhino.