Semigration driving South Africans to these hotspots – this is what you can get for R2 million up

Coastal property markets continue to perform better compared to inland areas, according to the Seeff Property Group.

Samuel Seeff, chairman of the Seeff Property Group, noted that the latest Lightstone House Price Index shows that prices are rising faster in coastal areas compared to elsewhere in the country. Semigration remains a key contributor to the property market in coastal areas. Lightstone recently noted that the highest influx of new residents last year were to coastal towns in the Garden Route such as:Mossel Bay has been a great property success story with some of the highest volume of semigration buyers. Kaaiman Schutte, licensee for Seeff Mossel Bay says the town offers a fantastic lifestyle, close proximity to George, and affordable property.

Estates are popular with some now priced upwards of R5 million. Popular alternatives include Blue Mountain Village, priced from R3 million, and Kraaibosch, from R4 million.Plettenberg Bay is another success story as high net worth buyers have flocked here over the last few years, and the town has achieved some of the highest prices in the country .

A notable number of sales have been concluded above R5 million, mostly in the waterfront areas such as Thesen Island, Benton on Lake, Belvidere Estate, The Heads, Leisure Isle, as well as in the Simola and Pezula estates.Alan Phillips, regional manager for Seeff Eastern Cape says Gqeberha is also seeing an influx of buyers, mainly those with roots in the city who are coming back to retire here. Despite steady price growth, affordability remains a major advantage for property buyers.

Sectional title prices are up from R1.1 million five years ago to R1.85 million, and houses from R1.7 million to R2.5 million on average.

Source: Holiday News (holidaynews.net)

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