In the last ten years, possibly longer, the fishing village of Kalk Bay, down at the heel of False Bay has gained a new image and a new desirability among property owners and tenants. According to Deeds Office figures compiled by Lightstone, 45% of the residents are aged 60 plus.
The reason for this, says King, is that to a greater degree than any other Cape Town suburb, Kalk Bay has become trendy and in every way a suitable place for the more academic and upwardly mobile section of the Cape population.
“Consider for a moment what Kalk Bay has to offer apart from the obvious attraction of a fascinating working harbour and popular tidal swimming pools,” said King. “First there are not only one but two theatres (which are well attended), but then one has to mention some of the Cape’s best bookshops for both new and second-hand books and the small art and artifact galleries which attract tourists all year round. On top of these one finds 20 plus restaurants, bistros and coffee shops. Then, too, one has to take into account the fact that the conveniently sited suburban line railway station makes it possible to commute to the city, even at peak times, in under 45 minutes. The train trip alone from Muizenberg to Simon’s Town is a tourist destination in its own right.
These and other factors, said King, have made Kalk Bay highly sought after - but the bad news for those hoping to move here is that Kalk Bay homes come onto the market only rarely and when they do are likely to be expensive by Cape Peninsula standards.
“The average price of homes in Kalk Bay over the past year is R3,5 million, with freehold prices ranging from R2,2 million to R6,3 million and sectional title from R1,4 million to R4,8 million. These stats reflect recorded prices, but there have been sales for R15 million plus. If the home has what are considered to be the four desirable factors – ample interior space, a good all-round sea view, parking and/or a garage on site and a level plot linking in with the ground floor rather than some of the terraced plots, it will sell very fast at a high price. Although many of the homes are ± 80 years old, more than half have been upgraded and modernised in recent years and some of the replacement designs are among the finest examples of coastal resort architecture that South Africa can offer.”
Asked if those with limited budgets can find something more affordable in the sectional title sector, King said along the Main Road one can, on occasions, find flats for as low as R1,5 million. The Majestic, once a grand old hotel, was converted into a sectional title scheme a number of years ago and now has 89 residential units. These sell at an average price of R3 million.
Right now, added King, the Cape Town Municipality is in the last year of its long five year reconfiguration programme for the Main Road. This is already making a huge difference to Kalk Bay because the widening of the road has also created numerous parking spots for those residents and visitors who do not have parking on their properties.
For further information contact Errol King on (021) 788 8965.
