Plett Property Jul 2010

2009 MARKET REVIEW

The number of property sales in Plettenberg Bay has seen the lowest number of property sales in 17 years. 2008 & 2009 had only 235 each, in comparison to the highest of 793 in 2002. The numbers for 2010 do not look any better. However, the value of property since 1993 has increased ten fold. Average sales prices have pretty much remained level since the peak of the market in 2007 if one takes 2010 figures into account (not on the graphs, because the figures are not conclusive yet). The top end of the market is seeing properties retain value, whereas other areas, like the lower end of the vacant land market, have seen dramatic declines. For example, there are properties being auctioned or sold in Brackenridge for less than half of what they were purchased for five years ago.
            It is definitely a buyers market, and there are many good value opportunities available to those fortunate enough to be able to afford to purchase in the tough economic climate.
The average price for freehold property is currently around R2, 4 million (including vacant plots and houses) and for section title units about R1, 6 million. The entry level decreased from R1, 4million in 2007 to R1 million for houses.
                      Over the past thirteen years average prices in Plettenberg Bay have grown yearly at over 19%, which is way above the national average, and proves once again that property in Plett is a good investment if bought at the correct price. 
           For more info, contact Steven Neufeld (Candidate Valuer/ Manager) at 044 533 2529 or steve.sir@plettenbergbay.com
 

 

 

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CONGRATULATIONS TO BITOU MUNICIPALITY

Bitou's water was rated as third best in the country in the Top 10 Blue Drop Status performers, beaten only by The City of Johannesburg and Cape Town Metro. This is just one of a long list of acheivements: green drop status for sewerage treatment, unqualified audit for finances (excellent in terms of municipal status; this is a major thing), came third in the Western Cape for housing delivery, excellent performer in terms of disaster management, and blue flag status for Robberg 5 beach. This makes Bitou Municipality one of the top performers in the country.

AIRPORT UPDATE

Carl Mattheus, Municipal Head of Corporate Services, was recently interviewed by the Bitou News. He said that one of the main reasons Plett doesn't have an airport is the R20million upgrade required to meet new safety and security regulations, and that is excluding the extension of the runway. So a decision was made to put the airport out to Tender for private leasing, which will include a development plan and an operation plan, and will be for 30 to 49 years. The new operator will take full responsibility for all airport functions. The muncipality has fenced the site and cleared it of aliens. Essentially, we are waiting for a private concern to take up the lease.

WHALES

The whales are already gracing our bay. Ocean Safaris is offering a 10% discount on whale watching tours. Just mention that you read this in our newsletter. For bookings, call 044 533 4963.

ESTATE AGENTS QUALIFICATIONS

Congratulations to all of our agents, who have now attained the new NQF4 qualifications. As part of SETA's attempt to improve service and education in the industry, all estate agents will be required to complete the qualification by March 2011. 

Property of the month:

 

Last chance: 4 Bedroom, 3 Bathroom Apartment with Sea Views

Brand new spacious 4 bedroom, 3 bathroom apartment in Thulana Hill, with large patio and limited sea view. Quality finishes. Space for all appliances in the kitchen (i.e. fridge, washing machine, tumble dryer and dishwasher). On-site security. Swimming pool in complex.
Asking R 1 590 000 (including transfer)
Call Hanneke at 072 398 6926 or  hs.thulanahill@vodamail.co.za
                 

Currently on the market:


Outeniqua Beach Penthouse
Offers on R 4,5m


        Value in Whale Rock Ridge         Offers on R 4 500 000


Panoramic Views: Rural Area
Offers on R 2 000 000


Private Upmarket Residence
Offers on R 5 500 000


Love a Spectacular View?
Offers from R2 200 000


Indigenous Coastal Forest Property
Offers on R 4 900 000


The Way It Should Be
Offers on R 5 900 000


A Home With Heart, Bowtie Area
Offers from R 1 800 000


Beachy Head Drive
Offers on R 14 200 000

For more property visit: www.plettenbergbay.com

Quote for the day:

"Property has its duties as well as its rights."                                                   ~   Thomas Drummond                                

Property Consultants: