This four-bedroom, three bathroom home on a mountainside acre in Noordhoek with sea views was sold for R7 07 million.
The average selling price for properties in Noordhoek has increased by 14.3 percent according to Propstats figures recorded from January to July 2015, compared to the average for the same period in 2014, says Mike Greeff, chief executive of Greeff Properties an affiliate of Christie’s International Real Estate.
“Noordhoek has been exhibiting stellar growth over the past three to five years, particularly. Earlier on this year, data compiled by Financial Mail pegged Noordhoek as the area with the highest house appreciation in the R3 million plus category, with a 34 percent house price appreciation exhibited after just one year.
“Currently the average selling price according to Propstats is R3 109 543, and the figures reveal that the average difference between listing selling prices has decreased from 8.4 percent in the first seven months of 2014 to 5.2 percent for the first seven months of 2015.”
He believes the increase in Noordhoek’s property prices are a result of increased demand for the area. This, to some extent, is due to a shortage of stock in the southern suburbs, which in turn has contributed to a shift in buyers’ attitudes to travelling distances to and from Noordhoek.
“No longer viewed as “off the beaten track” Noordhoek with its increased facilities and amenities is a growing suburb perceived by more and more people to be the centre of the Southern Peninsula,” says Greeff.
Greeff says that in July alone, sales by Greeff Properties’ Noordhoek agent, Dale Gremels, included a three-bedroom home with a double garage on the outskirts of Noordhoek for R1.7 million; a three-bedroom home with a single garage and sea views in San Michelle for the full listed price of R2.595m; a one acre plot for R2.5m; and a two-bedroom holiday house in Monkey Valley overlooking the beach, which fetched R4.625m
“We have also sold a number of units in Chapman’s Bay Estate in Noordhoek, which continues to experience a steady stream of interest from investors and owner occupiers. We have sold 70 percent of the available stock in phases one to four and the developers are planning to release a further three phases,” says Greeff.
“Construction of the gatehouse and road in phase one are well under way. Construction of townhouses has also started, and these are expected to be delivered next year. Currently for sale, through Greeff Properties, at Chapman’s Bay Estate, are one townhouse with the option of three or four bedrooms priced from R2.995m, and three and four bedroom homes with sea and mountain views, priced from R4.195m.”
Greeff says that buyers in Noordhoek include families from Johannesburg and Durban as well as a fair number of southern suburbs residents who want to scale down, as Noordhoek offers more value for money than most southern suburbs areas.
“Foreigners are also buying and making enquiries about Noordhoek properties, particularly those with South African connections who are living abroad, earning foreign currency and able to take advantage of a weaker rand,” says Gremels.
Greeff Properties is marketing a five-bedroom family home with a large workshop and a pool for R6.195m.
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