There is a strong feeling in the Cape Town residential property market that Kommetjie is a precinct ‘whose time has come’ and that those who buy here now will find that they caught a rising price swell at exactly the right moment, says Kim Mann, co-franchisee of the Rawson Property Group’s Fish Hoek franchise (which covers an area far larger than Fish Hoek itself).
“Any agent serving Noordhoek,” said Mann, “will tell you that there is a core of Kommetjie residents who have lived here for years (in some cases all their lives) and who will affirm that Kommetjie is the only place in the Cape Peninsula where they want to be.”
Such people, said Mann, tend to appreciate Kommetjie largely on account of its setting and natural surroundings – its magnificent 12 km beach which stretches all the way to Noordhoek, its excellent fish and crayfishing, its quaint village atmosphere and its peace and security.
In the last 10 to 15 years, said Mann, these die-hard Kommetjie devotees have been joined by others who appreciate Kommetjie for much the same reasons as they do but, tend to have career or other interests elsewhere. Such people, she said, will often work from home two or three days a week or tackle the 40 km commute to the Cape Town CBD, Century City or Bellville every day.
Also now coming to the market, said Mann, are those buying second homes for holidays, weekend breaks or retirement.
Demand for homes at Kommetjie caused by the new arrivals, said Mann, has seen prices in the last three years increase substantially and to cater for this influx of new residents the area has, in recent years, provided three gated estates. These are Kommetjie Boulevard, Slangkop Estate and Blue Water Estate (where the Rawson Property Group resident agent, Barry Fourie lives and where he has been particularly successful in his sales).
Taking the Blue Water Estate as an example, Mann said that it is still possible here to buy a 600 m2 plot for ± R700,000 and to build there for R1,3 million, giving a total package of R2 million for a home that further up the line would probably cost twice as much.
The prices in the other security estates, said Mann, tend to be much the same, the difference being that in the older estates there are more resales of completed homes and fewer plot sales.
“The great bonus that these estates have conferred on the area,” said Mann, “is that their homes conform to architectural guidelines which are appropriate to the semi-rural settings and help create attractive unity in which no one unit can let down the standards. In most cases, too, the landscaping is done in conformity to the very best conservation principles. In addition, of course, the sophisticated security measures make these estates very safe and particularly attractive to those with young children.”
In Kommetjie itself, said Mann, it is still possible to buy for as little as R1,7 million and the good news is that even the older homes tend to be well maintained with attractive gardens. However, the nearer that one moves towards the beach or coastline, she said, the more expensive the homes become and on the coastline itself sale prices of R8 million to R10 million have been achieved in the last year or two.
Any review of what Kommetjie has to offer, said Mann, should include Misty Cliffs, which is quite possibly the smallest and most exclusive coastal village in the Western Cape. Here excellent conservation principles have been particularly carefully observed, making this small residential node in effect part of the Table Mountain National Park. This fact and the quality of the designs, she said, have ensured that the prices in the few instances where a home does become available are never less than R4 million and can be as high as R15 million.
“Far sighted investors are moving in here in much the same way as they moved into Greyton and Barrydale a few years ago,” said Mann, “and by Cape Peninsula standards, these homes are still exceptionally well-priced.”
