INVESTING
up of international investment , semigration and higher employment has put the Western Cape firmly onto the investment map .
In the Western Cape , particularly Cape Town , the residential property market continues to thrive due to well-run municipalities , maintained infrastructure , high employment rates , and tourism demand . Notable municipalities include Overstrand , Stellenbosch , and Hessequa .
The most active municipalities in the Western Cape are Overstrand , Stellenbosch and Hessequa , followed by Knysna , Prince Albert , Saldanha Bay , Kannaland , Swellendam , Bergrivier and Cape Agulhas , with Cape Town seeing its share of activity rise from 15 % to 17 %.
“ The most increased town activity ( as opposed to municipality ) has been around Stellenbosch , and then along the West Coast ( Langebaan , Yzerfontein and St Helena Bay ), inland around Darling , Riebeeck Kasteel and Barrydale , in Cape Town ( Scarborough , Hout Bay , Noordhoek ) and then heading east along the south coast , in towns such as Gansbaai , Stillbaai , Mossel Bay and Knysna ,” Lightstone .
There are also a few countryside towns within the Western Cape that provide a serene , nature-centric environment , attracting those who are seeking an escape from the hustle and bustle of the city . Entrylevel homes in these types of towns are still affordable , often starting at R1.5 to R2 million .
“ Buyers can enjoy spacious properties , beautiful landscapes , and a slower pace of life in areas such as Gansbaai , Pearly beach , Baardskeerdersbos , Villiersdorp , Franskraal , Genadendal , and Greyton . In fact , over the last three months , we ' ve observed a notable increase in city residents looking to relocate to rural towns . This surge may be attributed to a growing preference for a serene and naturecentric lifestyle and remote working .
Other markets The other South African provinces overall are going through a drop in investor confidence because of mismanaged municipalities meaning poor services , poor road infrastructure , no investment , energy issues , excessive loadshedding , water shortages , and other challenges which are unique to those areas .
47 DEC 2023 / JAN 2024 Real Estate Investor Magazine