Sothebys International Realty

Plettenberg Bay Property July 2013

Plett Property Market Overview 2013-07-15:

In 2012 the residential property market in Plettenberg Bay recovered from a dip in 2011 when the number of units sold was among the lowest in the last 20 years and the total value of sales was the least in 10 years. 2012 saw R572million worth of sales registered to date.
            A sole mandate held by Hein Pretorius of Sotheby’s International Realty Plettenberg Bay in 2013 achieved the highest price for a beachfront property in Plett at R45million for a mansion on a large site on Robberg Beach.
            Overall, the market remained relatively constant over the past five years with between 200 and 300 units sold per annum. Average selling prices have increased since the peak in 2008 by 3%.  Though too early to tell, it appears that 2013 will be similar to 2012.
            The average price for freehold property is currently around R2,5million (including vacant plots and houses) and for section title units about R1,1million. 
            Entry levels remain relatively low, by Plett’s standards, for first time buyers and those looking for an affordable holiday property, though limited stock is available. The entry level for houses is about R950,000 (off a high of R1, 4million in 2007). The entry level for apartments is R400, 000 (bachelor). Vacant land starts at about R225,000.
             The record price so far for non-commercial property was R50 million for a luxury coastal estate sold in 2006, also sold by Hein Pretorius.
Over the past eleven years average prices in Plettenberg Bay have grown annually at an average of approximately 13%, which demonstrates that property in Plett is a good investment if bought at the correct price. It is currently a buyer’s market.
            “Though there is an oversupply of property, stock levels have declined in certain segments, particularly the upper end of the market, where choice is diminishing and values are increasing. Unfortunately most South Africans find themselves in a difficult financial situation, so are unable to take advantage of these opportunities,” said Pretorius.
           For the full article, with clear graphs, email info@plettenbergbay.com
 
 

Property of the month:



 
 
 
Refined Elegance This majestic residence was designed with meticulous attention to detail. Set in a beautifully balanced, landscaped garden on a large double stand. You will feel right at home in the warm and welcoming atmosphere of this 5 bedroom, 5 ensuite bathroom home with its superior finishes with custom made furnishings. The living area is spacious, yet cozy with its fireplace and high beamed ceilings.  You will love entertaining your guests in the many living areas, at the bar, or outdoors on the large deck with its sparkling pool overlooking the ocean and Robberg Peninsula.  This +/- 700m² home is situated in the Robberg Area, within 5 minutes drive to beaches and all amenities. 4 garages, separate staff quarters. Call Fiona at 082 415 3486.
Offers on R11million

  

Currently on the market:


Versatile Living Sea View 6 Bedrooms
Offers on R 6 500 000

Beachfront Home on Central Beach
Offers on R 15 000 000

Riverfront Home with Mooring
Offers on R 7 900 000

Rare Plaka Townhouse w/Beach Access
Offers on R 8 500 000

Solar Beach Beauty 5 Ensuite Bedrm
Offers on R 13 200 000

6 Bedroom Ridgefront Sea View Home
Offers on R 9 500 000

4 Ensuit Bed Upper Deck Penthouse
Offers on R 7 500 000

4 Bed, 4 Bath Sea View Thulana Hill
Offers on R 3 250 000

Picture Perfect 4 Bedroom Smallholding
Offers on R 6 500 000
For more property visit: plettenbergbay.com

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