Samuel Seeff, chairperson of the Seeff Property Group, says our sales data shows that prices paid in the coastal regions remain among the highest in the country.
Semigration remains a key contributor to the property market in coastal areas. Lightstone recently noted that the highest influx of new residents last year were to coastal towns in the Garden Route, such as Mossel Bay, George, Knysna, and Plettenberg Bay, as well as Hermanus on the south coast and Langebaan on the West Coast.
Pieter Jordaan, a licensee for Seeff George, says families migrate here especially for a better-quality lifestyle. Market transactions here were also still notably higher in 2023. Aside from families, older buyers also love the George area, which is renowned for its golfing. She says it's mostly older buyers, even those in their fifties, who are streaming here for the quality lifestyle and excellent climate. Plett is also a popular tourist town and is packed and fully booked over school holidays and long weekends. The current freehold price is R3.7m and R2.6m for sectional titles.
Alan Phillips, regional manager for Seeff Eastern Cape says Gqeberha is also seeing an influx of buyers, mainly those with roots in the city who are coming back to retire here. Despite steady price growth, affordability remains a major advantage for property buyers. The volume of transactions above R5m has climbed notably over the last few years. Despite a slower market, the last year still saw a notable number of sales of over R10m and over R20m, mostly in Voëlklip.