Western Cape Business News

Send  Share  RSS  Twitter  08 Oct 2008

PROPERTY: Buyers Looking Again at South Peninsula


Recent Western Cape Business News

Amid growing sentiment that the slowdown in the property market may be bottoming out, Pam Golding Properties reports that a number of previous would-be buyers are showing renewed interest in Cape Town’s South Peninsula region – encompassing the suburbs and hamlets south of Kirstenhof, among them Muizenberg, Kalk Bay, Fish Hoek, Scarborough, Kommetjie and Simon’s Town.  PGP’s offices in this region have seen an upswing in sales over the past few months, with sales for September alone amounting to R26 million.  This is despite the fact that these are areas which have a large number of second homes - a market hit substantially by recent economic conditions.

PGP’s recently-appointed area manager for the South Peninsula, Sandi Gildenhuys, says her branches have recently concluded several notable deals, including the sale of an original five-bedroomed Victorian-style homestead in Simon’s Town, for R5 million, and an eight-bedroom equestrian estate in Noordhoek, sold for R8.75 million.  The sleepy coastal town of Kommetjie has also seen an upswing in activity.  She attributes this increase in sales to several factors:  “There has definitely been a shift in sentiment, with a number of buyers who spoke to us several months ago now coming back, feeling that the market is about to turn and that the time is therefore right to make their purchases.  But of course, the other factor driving sales is the unmatchable lifestyle which is on offer in this area – something that remains constant in the face of market fluctuations.  Whether for retirees seeking peace and quiet, or families wanting a safe outdoor lifestyle, there is such a wide cross-section of options among the different hamlets of the South Peninsula.”

Gildenhuys adds that PGP has a huge variety of homes on its books, from easy-to-maintain apartments and small starter homes to larger family residences, homes in secure estates, and a limited number of mountain plots.  Prices in the area can range from just under R500 000 for an apartment in Fish Hoek or Simons’ Town, to just under R1 million for an entry-level semi-detached home in a Kommetjie security estate.  Larger family homes in Simon’s Town are priced from around R1.5 million upwards, while homes along scenic Boyes Drive fetch from R3 million to R4.5 million.  R5 million can secure you a spacious home on the Kommetjie mountainside with panoramic views, while the top end of the market sees prices of R12 million and more for large luxury homes in all areas.

PGP’s MD for the Western Cape Metro region, Laurie Wener, says this variety provides ample choice for buyers across the spectrum:  “Fish Hoek, for example, is popular with retirees seeking a slower pace of life, but is also appealing to young families with children of school-going age.  Overseas buyers love the fact that you can buy a home within walking distance of a beautiful beach at a very reasonable price.  Meanwhile we are seeing an increasing number of businesspeople buying in areas like Kommetjie, and choosing to travel that bit extra to work in the CBD, in exchange for a more tranquil lifestyle in an area that has a country atmosphere, but is still within driving distance of schools and work.  The South Peninsula now has its own sizeable shopping and medical facilities, as well as being positioned within easy reach of some of the Cape’s most beautiful golf courses, making it ideal for sports lovers as well as those who simply enjoy the wonderful outdoor lifestyle and beautiful hiking opportunities.”

Wener has also formally welcomed Gildenhuys, who took up her new position as area manager for the South Peninsula in July and who knows the area intimately, having grown up in Fish Hoek.  With a varied background in marketing, sales and management, she has worked abroad as well as in the Overberg area of the Western Cape.  Gildenhuys was formerly an award-winning agent with PGP in the Kleinmond area, and also ran her own property business in this region.  She now takes responsibility for all PGP branches in the South Peninsula.  “I am thrilled to be back with PGP”, she says, “and hope my contribution will add value to the already well-established PGP South Peninsula offices.”

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