Bantry Bay, in recent years, has overtaken Clifton and Fresnaye in terms of market performance. The suburb’s share of 10 most expensive streets in South Africa increased from one in 2014 to three in 2015, this according to Lightstone Property Company’s 2014 and 2015 reports. The report uses highest median rand value to determine the 10 priciest streets, with De Wet Road (R22,2m), Arcadia Road (R20,9m), and Ravine Road (R20,7m) ranking seventh, ninth, and 10th respectively.
According to Fran Segal, Lew Geffen Sotheby’s International Realty area specialist, the average rate of return for houses in the suburb measured during 2015 was a nominal 16%. This is the return received before costs associated with sales and inflation, however, it is still an excellent performance considering the current economic climate.
This is where savvy investors stand to benefit according to Lew Geffen, chairperson of Lew Geffen Sotheby’s International Realty. “With entry-level prices now starting at around R10m, buyers looking for value will find it in the return on investment, especially if they are lucky enough to buy one of the area’s original homes.”
Geffen believes that, regardless of prevailing market conditions, investing on the Atlantic Seaboard will pay off as it is regarded as one of the most stable residential markets in South Africa.
Photo: This Bantry Bay villa, on the market for R58m, is available through Lew Geffen Sotheby’s International Realty