Why Seafront Living in Cape Town Is Attracting Buyers from Across The Globe
Category Property News
Living near the sea is a dream for many people. Added to the beauty, the tranquillity and the views, there is also an entire lifestyle that comes with coastal living. Take it up a level, and you get the homes that enjoy seafront locations, perched as close as possible to the ocean, with nothing to interrupt the sweeping views and easy access to sea and sand.
These homes are in short supply compared to those that cluster behind them in coastal suburbs. Supply and demand dictates that where there is high demand and little supply, the price for an item will be inflated, and so it is with seafront home - properties that enjoy such enviable positions boast much higher price tags than their neighbours to the rear.
"For many, seafront living represent the dream of owning the best of the best - a property that stands out from the rest and sets one apart through its prestige and the sense of arrival that comes with being able to live in a home on the water's edge," says Alexa Horne, Managing Director of DG Properties, who says that in Cape Town this trend is no different, and coastal homes with seafront addresses in areas such as the Atlantic Seaboard, Simon's Town, and the Western Seaboard are commanding impressive prices. According to recent stats, coastal house prices continue to accelerate, rising by almost double of that of non-coastal property prices
However, this is definitely not deterring buyers, who continue to snap up these primely located gems - price irrespective. According to Horne, seafront homes in Cape Town are in high demand from both South African buyers who have semigrated from other provinces, as well as from foreign buyers, who are flocking to the mother city to take advantage of the spectacular climate and value for money offered to those brandishing foreign currency.
"Seafront homes frequently top the 'must have' lists of affluent semigrators and foreign buyers who are looking for a prestigious home. "We are seeing more buyers who are looking for a seafront home," says Horne. "The allure of owning seafront real estate goes further than just the views and opulence. Seafront homes naturally sell for far higher prices that other homes within the same suburb so they make for a good investment. The 'seafront premium', driven by the small volumes of these properties available in comparison to others, is worth every cent because buyers get a home that stands out from the crowd and which is rare in its uniqueness - this automatically adds to its value and impacts resale value."
Horne advises that for many years the Atlantic Seaboard dominated Cape Town as THE hot spot to buy seafront property, with suburbs such as the Waterfront, Camps Bay, Llandudno, Clifton and Bantry Bay being seen as the ultimate address. However, in recent years, and with speedily growing popularity, suburbs on the Western Seaboard - such as Blouberg, Sunset Beach, West Beach and Big Bay - have been taking their place as a highly desirable address, and seafront property here is in equally high demand - with spectacular views onto Table Mountain commanding equally spectacular prices.
In the past year alone, DG has sold many seafront properties to local and foreign buyers from countries such as Germany, the United Kingdom, USA and the Netherlands. Amongst these was a spectacular 9-bedroom house in Muizenberg for R22 million which was the early home of Sir Ernest and Lady Mary Oppenheimer, a 2-bedroom penthouse in Sea Point for R16,500 million, a Clifton studio for R4,4 million, a home in Camps Bay for R23 million, an apartment in Camps Bay for R19,750 million, a home in Llandudno for R26,250 million and an apartment at the V&A Waterfront for R23 Million - to name just a few.
Currently on the market through DG are several prestigious seafront homes such as a 3-bedroom apartment in Camps Bay for R18,350 million, a 6-bedroom home in Bantry Bay for R29,950 million, a Bantry Bay apartment at R39 million, a 2-bedroom Sea Point apartment for R16,500 million, a Bakoven apartment for R25,550 million, and a stunning 2-bedroom bungalow on Cliftons First Beach for R42, 950 million. All of these stunning properties enjoy uninterrupted ocean vistas that truly do leave little to be desired when it comes to location.
"Those with the means to invest in a seafront property cannot go wrong. Whether purchasing as one's primary home or to include in an investment portfolio, buyers will not only enjoy the lavish lifestyle that comes with living in a seafront home but will also reap the benefits of higher market values and lower volatility," concludes Horne.
Author: PR
