2009/03/06

Expensive beachfront properties on the Western Seaboard are battling to sell with many people opting to rent as opposed to purchasing at present.

So says Fanie Lategan, principal of the local Chas Everitt International franchise, who adds that the Western Seaboard rental market is thriving generally, with one and two bedroom flats leasing from R3k pm, depending on locality and quality.

However, long time fence-sitters in particular are generally beginning to take decisive steps towards purchasing property in the area.

Catalysing this movement, he says, is the fact that asking prices are significantly lower than a year ago. A proliferation of property choice, stronger risk appetite and the appealing lifestyle offered by the area are also strong contributing factors.

Proving true to form, activity during the December/January holiday season was particularly good, with the bulk of enquiries directed at primary residences as opposed to holiday and second homes, Lategan says.

"And now properties in Parklands, Tableview and Sunningdale are proving particularly popular. Indeed, the types of houses found in these areas sell at substantially lower prices than within Cape Town proper. A generously proportioned family home can be bought in these suburbs for between R800k and R1m."

Property24