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Sunday, May 29, 2022

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Q: Have the values of coastal properties been impacted at all by Covid-19 and the lockdown?

Published Oct 9, 2020


Are these homes still at an advantage when it comes to their value and appeal, compared to inland properties?

A:As the tourism hub of South Africa, the Western Cape has been hard hit by the Covid-19 lockdown. With no international travel permitted,

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properties in sought-after areas

such as Camps Bay and the Atlantic seaboard are now listed at a steal.

Unsurprisingly, coastal areas such as Cape Town,

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Port Elizabeth

and KZN are outperforming Gauteng in terms of sales, with the majority of home loan applications received for properties between of R750 000 to R2 million, according to home loan aggregator Ooba.

There are also

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loads of Airbnb units

now up for sale. In comparison to our business hub, Gauteng, properties in the Cape Town CBD and Atlantic seaboard average R20 000 more per m² and would usually welcome foreigners and corporate travellers throughout the year.

– Grant Smee, managing director of Only Realty

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