Hout Bay on the southern tip of the Cape Peninsula made its entry into Cape Town's top five real estate in the R3m-plus category over one year, an indication that the area may be regaining some of its former appreciation potential.
— With some of the finest properties in Cape Town, Hout Bay is a popular tourist attraction among both local and international visitors, and not only offers real estate buyers a great life style, but the opportunity for investment too. Hout Bay boasts a truly unique village atmosphere.
According to a realtor at Lola Kramer Realty, “Investor confidence in Hout Bay has been on the rise since last quarter of 2011. Hout Bay has seen significant investment especially from younger families from Gauteng that settle here for a village vibe,” said Shaun Kramer of Lola Kramer Realty.
It is interesting to note that more than 30% percent of property sales in the greater Hout Bay area was made by people already residing here. The bay is accessible through only three roads. Over the past few years Hout Bay has seen an increase for residential security estate property from European buyers. This is mainly because the mountains offer a world famous scenic route, Chapman’s Peak Drive and a working harbor naturally shelter the bay. Hout Bay offers a quality of life that has drawn residents to the area from all parts of South Africa and beyond.
Hout Bay has approximately 28 suburbs which include areas like Scott Estate and Beach Estate for family homes, and then some gated communities like Klein Leeukoppie, Kenrock, Bergendal, Ruyteplaats, Tierboskloof and Hanging Meadows which are secure estates to luxury sea view properties in and around those areas and including a few more. Horse riding is easily accessible and fun for the family – some larger properties offer stabling and practice arenas. It is the perfect option for buyers who are in search of a smaller village lifestyle.
The increased demand for properties in Hout Bay has made the entry level market of R2.0 MIL sought after. Property prices have seen a significant increase in comparison with the neighboring suburbs along the Atlantic Seaboard for similar value.
A large number of houses for sale in Hout Bay have sea and mountain views, with easy access to the beach. Recently property prices have increased in comparison to other parts of the Atlantic Seaboard. Hout Bay is situated on the southern tip of the Atlantic Seaboard near Cape Town. This unique location has contributed to Hout Bay being among the top five property investment areas in South Africa.
Within a year, people in Hout Bay will be connected to Cape Town city via a MyCiTi bus service, expected to run from early in the morning to late at night. The Hout Bay bus service links the CBD via Camps Bay to Hout Bay. This route will cover both Victoria and Hout Bay Main Road towards the beach and Hout Bay harbour and Hangberg.
Published through PRC, Online press release distribution network.
Release ID: 2115