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PE’s new record house price achieved by PGP

PE home sold for R16mThe recent sale of a luxury 750m2 home by Pam Golding Properties for R16m has set a new record in Port Elizabeth’s property market.

That’s according to Ian Olivier, area principal of Pam Golding Properties Port Elizabeth, who said the previous record price for the area stood at R10m.  And not only were both sales concluded by PGP GoldClub agent Linda de Lange, but both are situated in the Upper Seaview area just metres from each other as the crow flies. According to Olivier the sale underpins a growing trend for high net worth buyers to relocate to Port Elizabeth from other parts of the Eastern Cape.

The six-bedroom home which includes a guest suite, separate two-bedroom cottage and housekeeper’s quarters were bought by an out-of-town game farmer.  “It’s a ‘wow’ home, but in such a friendly way,” said de Lange.

De Lange’s previous record sale, for R10 million in 2010,  was also a record high for Port Elizabeth at the time, setting a new benchmark for residential property selling prices.

Top photo: The record-breaking PE home sold by PGP for R16m


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