Strand & Gordan’s Bay property market skyrockets
During the past season, the property market in Strand and Gordan’s Bay has seen excellent sales figures, and role players expect these high figures to continue climbing.
With the 2010 World Cup putting South Africa on the map in the property market, most of these sales were to owner-occupiers. The world is seeing South Africa in a different light. People are starting to realise the potential of our country and consider buying property here a stable investment.
The stable environment is also boosted by the stability of the currency and more and more foreigners are investing in property along the coastline of South Africa. British, Irish and American buyers seem to show the most interest in the property in Strand and Gordan’s Bay.
Many sales were to owner-occupiers and people who wish to retire on the coastline. According to Monte Jordaan, MD of Multi-Projects, a Somerset West-based investment property marketing company, the market has normalised after the recent interest rate increases and due to this buyers can afford to be fussy, as the market is still very active and the choices are not very limited.
He also believes that more and more people are looking for ‘value-for-money’ properties and these have a better chance of selling quickly in comparison to overpriced properties.
The price range between R1.3m to R2.7m is very quiet because there are unlimited options while the price range below R1.2m to R1.3m is very active. Whether people are buying to occupy, to let or to retire, people are buying, and the property market is blossoming.
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