Plettenberg Bay property market tops R1bn in sales
Unit sales grew 62% and rand value of sales by 96% in 2016
The Plettenberg Bay property market cracked the R1bn annual sales barrier in 2016, real estate agent Seef said on Monday.
Seef said its unit sales in the area grew 62% from 2015 and the rand value of sales by 96%.
"In the past few years, we have seen an uptick in sales above the R5m to R10m price band," Seef’s Plettenberg Bay licensee Kevin Engelsman said.
Luxury beach houses, especially those around Beachy Head, Whale Rock Ridge and Lookout Beach can range from as much as R20m to R40m.
"About 65% of all property in Plett is full title, predominantly houses that range from modest and well-priced in the R1.2m to R2.2m range. Upmarket areas and larger houses though tend to range to about R6m on average," he said.
"There are also a number of security complexes and estates that offer a mix of property, priced from about R600,000 at the lower end. Luxury estate houses though range upwards of R4m to about R8m on average."
There is still plenty of vacant land for sale, often at reasonable prices starting from as low as R200,000 to R400,000, Engelsman said.
The rise in Plett’s popularity is partly due to the arrival of weekly flights from Johannesburg and Cape Town.
"The town is also close to Knysna and an excellent base for those working in the area. George, the main commercial centre for the Garden Route, is also only about an hour and a half away," Engelsman said.
The Garden Route property market in general remains upbeat, according to Seef.