Noordhoek tops house price appreciation charts

According to a Financial Mail survey which pinpoints the top-performing suburbs in all provinces of South Africa, Noordhoek took first place in the R3 million-plus category, with a 34% house price appreciation having been exhibited in one year. Noordhoek also performed the best in the three-year growth category, with a 197% house price appreciation. 'These figures cement what we as a company have noted with regards to an increasing demand for properties in Noordhoek, as well as properties within gated estates,' says Mike Greeff, CEO of Greeff Properties, an exclusive affiliate of Christie's International Real Estate.

Chapman's Bay Estate taking off

'Less than a year ago, Greeff properties launched Chapman's Bay Estate in Noordhoek, a 47-hectare, low-density, secure and eco-sensitive estate. Sales have been coming in at brisk pace since the inception; to date, sales total in excess of R131 million,' says Greeff.

'Phases one and two are sold out and phases three and four are now available,' explains Greeff. Prices at Chapman's Bay Estate start from R3 715?000. Transfer duty is not required.

'Chapman's Bay Estate represents something of a microcosm, in that it exhibits current and future real estate trends in the greater Western Cape. Clearly the demand for secure gated estates with a focus on family living is high and growing, and savvy investors are buying at ground level from developers, not only to save on transfer duty, but because returns on gated estates are proving to justify the initial investment,' says Greeff .

'Another trend, which Chapman's Bay Estate spotlights, is a shift in attitude towards commuting. Whether it's a commute to schools and places of work in the Southern Suburbs or city, or, in more and more cases, a weekly commute to Cape Town and back on weekends, the Noordhoek lifestyle appears to have the requisite allure,' adds Greeff. He says that the growing number of 'semigrants' from Gauteng are seeking coastal property and the Southern Peninsula offers more space and unbeatable value for money when compared to properties on the Atlantic Seaboard. 'The lifestyle in Noordhoek is unbeatable, with easy access to beaches, hiking and horse riding trails, shopping malls and schools,' says Greeff.

Cape Canalis estate expected to do similarly well

The recently launched Cape Canalis Estate, also being marketed by Greeff Properties, is another new security development in the valley, just beyond Noordhoek in Capri. 'Priced from R1.485 million including VAT, two- and three-bedroom, single- or double-storey houses are to be built, with no transfer duty. 'At these prices, this offering will appeal to young families as well as young professionals wanting to break into the property market, and it is an excellent opportunity to grab a piece of real estate in a gated secure development featuring Cape Vernacular architectural references and contemporary finishes,' says Greeff.

55 freehold plot-and-plan investment opportunities are available as well, with erf sizes ranging from 440m2 to 480m2. The rise in demand for real estate in Noordhoek has not gone unnoticed by big business, and the commercial landscape of the Noordhoek Valley and Capri area is changing accordingly, with various new enterprises set to go ahead, including a Virgin Active, a Checkers Hyper and a new medical centre, to name a few, says Greeff.