Residential Guidebook Residential Guidebook 2014 (Subscribers) | Page 49

Beach view. Port Elizabeth higher equity; in other words not requiring large bonds. Generally they are Gauteng and KZN buyers seeking a home away from home which ultimately is a long term investment. There is also the added benefit of being able to enjoy the South Coast’s attractive Blue Flag beaches which are less crowded than some other popular coastal destinations. This coastline is renowned for offering value for money property and there has been a noticeable trend in upcountry families’ relocating to the area for better quality family life, with direct flights between OR Tambo International Airport and Margate Airport fuelling this trend. Beachfront homes range between R4.5 million and R20 million in price. In Port Edward, the inquiries and actual sales have definitely picked up in recent months. This coastal town is also experiencing a change in demographics, where erstwhile holiday homes are becoming residences for new buyer groups. It has been indicated that the Trafalgar area is popular among upcountry visitors from Gauteng, Limpopo and Mpumalanga as well as Eastern Cape buyers. With security markedly improved due to satellite police stations having been set up along with strong neighbourhood watches, husbands can work away from the area while children attend good schools. The lower south coast is very competitively priced www.reimag.co.za compared with other coastal areas and offers in most cases better weather and beaches in more tranquil surroundings.” In Port Elizabeth interest in coastal property increased this summer, particularly homes with a sea view and generally priced up to around R2 million. One can even buy a front line home for under R3 million. Buyers comprise mainly local buyers seeking primary homes, as well as those from upcountry and Western Cape relocating on business or for a better lifestyle, and investors seeking a home to retire to in the future. Increasingly, we are seeing overseas buyers (from Germany, United States and even the Philippines) looking for leisure property. “There is also the added benefit being able to enjoy the South Coast’s attractive Blue Flag beaches” With upmarket shopping malls, attractive, warm swimming beaches, good schools and our own airport, Port Elizabeth offers a healthy family lifestyle away from hectic city life, with areas such as Summerstrand particularly sought after and with a shortage of stock in the R2.5 million price range. Residential Handbook 2014 47