Plettenberg Bay Property May 2016

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Plett Property Review

2015 saw R705million worth of property sales in Plettenberg Bay. Overall, the market remained relatively constant over the past seven years with around 220 and 350 units sold per annum. However, there was a ±6% decrease in both total value of sales and a 3% decrease in average prices from 2014 to 2015. A few more sales from 2015 will register over the coming months, so the figures may change somewhat. This decrease is partially due to an uptake of vacant land and the lower end of the market seeing a recovery. 

Interestingly, estate agents in Plett feel that 2016 is going well so far, with lots of buyer interest, both national and international, in spite of the socio-political climate in South Africa. Plett is following the “semigration” trend of South Africans moving to the Western Cape, so demand is steady even though affordability is low. With the weaker Rand, foreign buyers have also increased substantially.

The average price for sectional title units is currently about R1,1million and for freehold property is currently around R2,46million (vacant land and houses are included). 

The entry level for apartments is R550,000. Vacant land starts at about R199,000. The entry level for houses is around R1,1million (off a high of R1,4million in 2007), though there are cheaper options in areas surrounding Plett.

Over the past ten years, which includes the crash, average prices in Plettenberg Bay have grown annually roughly in line with inflation. Looking further back to 15 years, the annual growth increases to ±9% per annum.

 

Pretorius says: “2015 was a record year for our office. We saw high interest in most sectors and good value properties were available. 2016 has followed suit with record months for us. Stock levels have decreased and less stock is coming onto the market. Popularity of gated estates has increased significantly. Estates like Whale Rock Ridge and Brackenridge have little stock available and prices are increasing.” [email us for the full review with large graphs]

 

Property of the Month

Bobbejaanskloof Private Nature Reserve: African Splendour

150 hectares in the Uplands area, a few minutes from Plett, hidden in tranquil surroundings at the foothills of the Tsitsikamma Mountains, boasting changing scenery as you move across the different areas, with magnificent indigenous gardens that surround the main farm house, managers' cottages and offices, Mountain Fynbos, Afro Montane Forest, flat grazing lands and a steep, forested kloof. Meticulous attention has been given to environmental integrity. Cleverly designed 4 bedroom, 4 bathroom main house, 3 private manager's cottages, unique braai pavillion, vegetable garden, nursery, fully fenced and ample water. Featured in magazines. This is an opportunity of a lifetime. Must see to fully appreciate. Offers on R20,000,000  Call Hein: 083 701 3159

Currently on the Market

Beautiful Bay Views: 3 Bed, 3 Bath, Study, 2 Garage

Offers on R 3 200 000

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