Atlantic Seaboard - demand outstrips supply in 2015
The Atlantic Seaboard which stretches from The V&A Marina all the way through to Hout Bay including the areas of Mouille Point, Sea Point, Green Point, Fresnaye, Bantry Bay, Clifton, and Camps Bay is without doubt one of the most sought after locations in South Africa.
Irrespective of the marktet trend there is always a demand for apartments and homes along the Atlantic Seaboard. 2015 proves to be no exception as we are experiencing an increase on the average sectional title price of 18% which translates to an average selling price for sectional title of R1.67M and on the high end of the market properties have sold for over R100 000/M2. The on-going shortage of stock has only created more of a frenzy as many estate agents are selling their properties within a day of listing and some selling above the asking price.
Another visible change is the increase in developments ranging from Hotels to exclusive apartment complexes most of which are sold out off plan within days of being launched. Over the years we may have noticed subtle slumps in the market, however this temporary state of affairs was short lived. This spectacular strip of real estate extends from the slopes of Signal Hill down to the Atlantic Coast and stretches approximately 18Km’s from start to finish, and is the home to the rich and famous as equal as it is to the man on the street.
The landscape is truly spectacular and it is seldom found that a location can offer such a superb range of features from the sensational views to the convenience to all residents and guests. No matter where you may find yourself on the Atlantic Seaboard – the convenience will be hard to come by. Surrounded by every conceivable luxury; this area offers a different level of turn-key comfort in the form of high end boutique malls, private education, public amenities, world famous restaurants, glitzy night life and the list goes on and on. When living here one will find it all within a 5 km radius if that. So it is no wonder that the demand for real estate never abates despite the economic trend. Securing a property along the Atlantic Seaboard remains the great objective and sought after dream for most people who have experienced this all rounded beauty. The ever increasing demand to achieve this dream will ensure that any investment made here will be a sound one.
On that note we must remind our visitors; especially those looking to secure a property here to contact us for 5 Star Service Excellence. We are a strong team of highly professional and qualified realtors who possess an unrivalled skill set which allows us to provide our valued clients with the best real estate experience. So buying or selling or renting – we are the go-to name in the game of Real Estate.
Author: Ashley Habib