Prime waterfront homes on the Garden Route and E Cape

The demand for homes with water frontage in prime coastal areas on the Western Cape Garden Route and the Eastern Cape has re-emerged, with increasing instances of prices even in excess of R10 million being achieved.

This property in St Francis Bay has six bedrooms, an open-plan entertainment room with gas fireplace, braai, bar, wraparound balcony, heated swimming pool and a private jetty. It is selling for R14.8 million - click here to view.

According to Stephen Murray, PGP’s area principal based in George, in Wilderness, after many years of few sales on the beachfront, suddenly over the last six months, 5 properties have sold on the beach in Wilderness, ranging from R6.75 million for an old house to R10.5 million for a 12 year old home of approximately 390sqm set on an erf of 1 500sqm.

Murray says another old house, which has since been demolished to rebuild, situated on grounds of about 2 300sqm, fetched R8.5 million. There is an uptick in interest in beachfront property from discerning buyers who want prime properties along with a more secure, quality lifestyle, a trend particularly evident among Gauteng buyers.

PGP area principal, Ling Dobson, says in Knysna and Plettenberg Bay, waterfront properties inBeachy Head in Plett and in Keurbooms, just 10 minutes away, are seeing the higher end of R15 million to R22 million.

“On Beachy Head Road, homes right on the beach have been selling for R26 million to R28 million for properties on average erf sizes between 8 000sqm and 1 600sqm. In Keurbooms we currently have a few properties being marketed just below R20 million. In Knysna, prices recently achieved are mainly between R3.5 million and R10 million, and exceeding the Plett transactions in terms of number of units sold.

“In Knysna’s sought-after Thesen Island, recent sales were in the R5.5 million plus price bracket, while we have just sold a home situated on Pezula Golf Estate, in prime position on the cliff edge overlooking the ocean, for R11 million,” says Dobson.

This home overlooking the Indian Ocean in Pezula Golf Estate, Knysna, offers four bedrooms and bathrooms, an open-plan kitchen, wine cellar and alarm system. It is priced at R9.95 million - click here to view.

She says generally, they are seeing a marked increase in buyers looking to relocate, especially from the major cities. The good private schools in Knysna and Plett can accommodate families without being placed on long waiting lists, there are good medical facilities, promising small business opportunities and flights in and out of Plett or George are regular and on established airlines.

Port Alfred PGP area principal, Isobel Meyer, says the demand for waterfront and beachfront property, which began increasing during the December or January season, with buyers mostly from Gauteng and KwaZulu-Natal, has continued.

“Properties and vacant land within the Royal Alfred Marina in the price range from R1.19 million to R10 million have attracted considerable interest from potential buyers of late, and there has been a notable improvement in the frequency of sales. Our most recent sales within this security estate, which include top prices achieved, were at R8.2 million, R1.6 million and R3.5 million,” she says.

Meyer says most buyers in Port Alfred are looking between R3 million and R5 million, seeking homes for both primary residence and leisure use. Offering enticing living opportunities within a secure 24-hour manned security estate, the Royal Alfred Marina appeals to a wide range of home buyers.

This six bedroom beachfront home in Jeffreys Bay is on the market for R11.9 million - click here to view.

According to Jaco Bothma, area manager for Pam Golding Properties, in surfer’s paradise Jeffreys Bay, the price of beachfront property has risen markedly. The sudden increase in prices is probably due to a lack of stock, as there are few beachfront properties on the market.

Bothma says about 10 months ago, a beachfront property sold for R10.5 million - the highest price achieved in ‘JBay’, and it wasn’t even on the market. This is a property which was acquired for R5.2 million in 2006, reflecting sound capital growth of over 100% over an 8-year period.

“Currently we have a handful of beachfront homes priced at R24 million, R18 million, R11.9 million, R7.5 million and R4.9 million.”

On the canals in St Francis Bay, a home recently fetched R12 million, being a newly built house following the fire. There have been three sales in excess of R10 million in St Francis, all on the canals, with the highest price to date being a R21 million sale in 2008, says Richard Arderne, PGPs area principal.

This five bedroom house in Wilderness has four bathrooms, an open-plan kitchen, dining room with fireplace, TV room, air conditioning, rim-flow swimming pool and a manicured garden. It is on sale for R6.5 million - click here to view.

PGP area principal, Jennifer Seggie, says inWitsand, there is still good value to be had in waterfront homes. For around R3.5 million, you can acquire a spacious four bedroom, three bathroom home with estuary views. Buyers are mainly seeking leisure or retirement homes.

“In nearby Stilbaai, there is a demand for affordable properties on the frontline, but the premium price and maintenance costs, place these beyond the average buyer’s budget. A frontline home of about 130sqm on an erf of 250sqm to 330sqm and no garden, sells for R7 million. This is compared with a timber home set on 803sqm, two roads away and with no views but within walking distance of the beach, which is selling for R1.088 million.

“Often, waterfront homes are inherited in a trust and the heirs cannot afford to maintain them. An example is a home that sold in 2006 to be demolished and rebuilt, and then resold in 2014 for R7.3 million. Sometimes these inherited homes stand in limbo due to family members not agreeing on whether to sell or keep the properties,” she says.