Estate agents are reporting keen interest in the Western Seaboard as an affordable alternative to the Atlantic Seaboard. Many of the young professionals attracted to the area are water sport enthusiasts who, together with tourists, flock to Blouberg every weekend for its near perfect kite-surging and wind-surfing conditions during most of the summer.
“It is no surprise that the world record for the most kite-surfers on the water at one time was broken recently at Blouberg, on this stretch of the Western Seaboard, with 415 people taking to the water as part of a Virgin Kitesurfing Armada organised event,” says Nelio Mendes, sales manager for IHPC.
At Big Bay, rentals are fairly reasonably priced, with one bedroom apartments renting out at approximately R7 500 to R9 000 per month and two bedroom apartments renting for R13 000 to R16 000 per month.
These are the prices of new units that have come on stream just adjacent to the Eden on the Bay mixed use development.
Sales prices range from R1,3 million for a one bedroom apartment, R2,5 to R3 million for a two bedroom apartment with sea or mountain views and R4,5 to R5,5 million for two or three bedroom sea facing apartments with unobstructed views of the mountain and ocean.
Mendes says if one were to look at the Atlantic Seaboard for similar accommodation, the price tag would be at least R10 million for a three bedroom apartment with views.
What is happening, he says, is that many potential buyers of property and those looking for long term rentals are looking at Big Bay as their first choice because of the lifestyle it offers. Many of the buyers here are young professionals who have active lifestyles with a need for lock-up and go apartments.
Lightstone figures indicate that the majority of residents in Big Bay are either in the 36 to 49 year old category (46% being stable owners and 44% recent buyers) and mature owners (37% stable owners and 32% recent buyers). The suburb demographics place the income group of owners in the high range and the bulk of the activity in the property market is either in secure estates or sectional title schemes.
For lifestyle, Big Bay offers residents beachfront access and many restaurants, shopping convenience and generous off-street parking. In addition, however, this is an area that is fast becoming the place to be when it comes to water sports and contemporary apartment living, says Mendes.