The Garden Route areas of Knysna, Sedgefield and Wilderness have over the past 12 months received an increase in both enquiries and sales in the higher end of the market. This is according to broker/manager of RE/MAX Coastal, Chris van der Merwe, who says his agency has experienced an uptick in sales activity in the R5m to R7,5m price band.
“This interest has mainly been for properties situated within gated estates such as Thesen Islands, Pezula Golf Estate and Pezula Private Estate in Knysna,” he says. “There is also particularly high demand for luxury beach homes in Wilderness.”
It’s no secret that the region attracts retirees and those nearing retirement, with the average age of buyers being 60 years old.
According to van der Merwe around 10% of buyers in the region are foreign investors, 10% are expats and the remaining 80% of buyers is split equally between corporates and people who are semigrating from Gauteng, KwaZulu-Natal and the Eastern Cape.
Luxury property in the region starts at R5m and goes up to approximately R50m, depending on the location, whether or not the home is situated on a secure estate and what views and features the property offers, such as floor space of 500m² upwards, four bedrooms with en-suite bathrooms, a heated pool, two to three garages, a walk-in wine cellar, gym, strong room for valuables, underfloor heating, a built-in music system, intelligent lighting, Wi-Fi, putting green with a bunker and white water ocean views.