How is the property market in Betty's Bay?
Betty’s Bay is one of the scenic towns on the Whale Coast where Meridian Realty has an office, and where we have been privileged to assist people in making their house-dreams come true.
The following interesting statistics regarding the property market in Betty’s Bay helps to tell the story of the current buyers-market…
Betty’s Bay consists out of 2859 Freehold properties, of which roughly half has dwellings on them. The plots are generally large with an average size of more or less 1000m². The beautiful natural surroundings of mountains and seascapes, together with the spacious plots as well as Betty's Bays well known Botanical Gardens and green areas are the factors determining Betty’s Bay’s “feel” of open space, tranquillity and serenity even in the peak of the holiday season.
Betty's Bay receives a fair amount of holiday-makers each year – but without the overcrowding that some coastal towns are renowed for. Parking space and traffic annoys no one in Betty’s Bay!
In 2009 71 properties in Betty’s Bay were sold at an average amount of R770000 per property. In 2010 the amount of sales rose to 83 at an average price of R789000. In 2011 the sales rose once again to 94 properties at an average price of R886000. These sales data includes the sales of open plots and properties transferred as part of estate dealings. Thus far in 2012 36 transactions were registered at an average of R807000. We expect the number of sales to rise to more than 100 during 2012.
Because of the broader economic situation the property prices are still under pressure, but it seems as if Betty’s Bay’s well kept secret of a tranquil and serene lifestyle in nature, has been made known and more and more investors are visiting our shores and becoming “converts” to the lifestyle. Honestly, we can't blame them!
Author: Chris Goosen