“This is indicative of a healthy property market where property is still much more affordable than in most other harbour towns,” said Loryn Alberts, Seeff agent in Gordon’s Bay. “Gordon’s Bay is somewhat of a hidden gem, but more inland buyers especially are becoming aware of the value for money that is to be found here.”
Sectional title homes have grown in value from R770,000 in 2015 to R890,000 to date this year, freehold from R1,360m last year to R1,925m this year, and vacant land from R462,000 last year to R512,000 this year.
“The average house price in Gordon’s Bay ranges from R1,2m to R1,4m and this price mostly includes three bedrooms, at least one garage and a garden,” said Alberts. “Properties in this price range, however, are in high demand and demand outstrips supply thus making the turnover in sales much quicker.”
Vacant plots start from R350,000 and are very popular as more buyers are building due to the shortage of property the market has to offer. The most expensive properties are priced up to R20m.
“There is a major shortage of available rentals in Gordon’s Bay and we are looking for developers as the area has ample land available for new development,” she said, noting that her office has sold 10 vacant plots in the past year that range in price from R350,000 to R2m. “There is also undeveloped land available in the area that is priced upwards of R5m to as much as R80m that could be utilised for various purposes.”
Top photo: This four-bedroom Gordon’s Bay home is now on the market through Seeff for R18m. For more, click the pic