Gordon's Bay in focus
Gordon’s Bay is one of the few areas where you can still find excellent value below R2 million and even top end millionaire homes are still only just in the R20m-R25m range. Louelle Lubbe, managing director for Seeff says that the affordability of property, is a big driver for upcountry buyers looking to relocate to the coast for residential or retirement purposes. It is also a very popular holiday destination.
The location is an obvious attraction. Gordon’s Bay is located in the Helderberg region with easy access to Cape Town and airport. It is set against the scenic Helderberg Mountains and overlooks a pretty yacht-lined bay. It has a fabulous waterfront area with a promenade lined with fish shops, coffee bars and restaurants. Bikini Beach is a big attraction, but there really is something for everyone here, hence the numbers well drastically over the summer holiday season. The destination is especially family and retiree friendly, says Ms Lubbe.
Cape prices are often a real challenge for those looking to relocate from upcountry areas such as Johannesburg and Pretoria given that prices there are notably lower. This, has been a main driver of the demand in Gordon’s Bay as more and more people discover the charm, convenience and outstanding value for money, she says.
Entry level properties for example only range from R500 000-R700 000 and freehold from R1.4m-R1.8m. Family houses offer excellent value at around R1.3m-R2m for a 180sqm home, she says.
For luxury buyers, the Harbour Island development offers a unique marina lifestyle with a wide variety of properties ranging from R1.2 million to freehold luxury homes at R18 million. The millionaire house located on the mountainside which come with breathtaking views generally fall in the R20-R25 million range.
Ms Lubbe advises sellers to ensure that their property is priced according to the current market conditions. She says further that sellers should not be tempted to compare their properties to those currently on the market as those may be overpriced. Rather use actual sales as a guideline, otherwise you will simply be wasting your time as an overpriced property will stay on the market longer than a property with market-related pricing.
Gordon’s Bay is the only area that offers the same spectacular setting as the Atlantic Seaboard area, yet you can find significant value. On top of that, it is also not as busy and crowed and is ideal for buyers looking for a quieter lifestyle.
The village also has a vibrant rental market with high demand, especially in the R5,000-R9,500/month price range. For three-bedroomed homes with a pet friendly garden, the popular range is R6,000-R10,000/month, but properties above R10 000 pm tends to stay on the market longer.
A concern for the market, has been the installation of water meters by the Cape Town City Council and some complexes where these have been installed randomly. It has caused great inconvenience to landlords and tenants due to unforeseen additional costs for all parties concerned and the additional administration for the body corporate and agents.
In challenging times and due to the complex legislation, it is also important for landlords to ensure that they are represented by a reputable agency. All steps should be taken to protect the landlord as far as possible as the Rental Housing Act rests in the constitution and protects the rights of a tenant. The first step must be to find the top rental agency in your area that can assist you in procuring the best possible tenant, that can help with the collection of moneys, maintenance and who can be trusted through years of experience to identify any possible issues that could arise during the rental period to minimise risk and loss to the landlord.
In conclusion, Ms Lubbe says that while the local property market is feeling the same economic pressure as elsewhere in the metro and country, property here remains a very attractive prospect and Seeff expects an increase in enquiries over the summer as more people will look to relocate to the area.
Contact Seeff Gordon’s Bay, Louelle Lubbe on 021 856 4846 or visit www.seeff.com.
Author: Gina Meintjes