The chances of realising significant value growth in property are definitely still higher if it is beach or water fronting, says Bill Rawson, Chairman of Rawson Properties, and nowhere, he adds, is this more true than in Cape Town.
'The reasons could not be simpler,' said Rawson. 'Firstly, all over the world people like to live on water or a beach if this does not inconvenience their working lives too much. Secondly, the number of such water and beach fronting properties is always limited, making them highly sought-after '
In the Western Cape, said Rawson, coastal properties are now more in demand than ever before and are likely to prove an exceptionally sound investment with above average growth values.
'Developments from Bakoven up to and including the V & A Waterfront, the Milnerton beachfront, Woodbridge Island, at Simons Town and Hout Bay, on the Blaauwberg Sunset Strip, at Melkbosstrand and at Strand, Gordons Bay, Bettys Bay, Kleinmond, Onrus and further afield have all been proceeding at a very fast pace for some three years now '“ but it has been the seaboard east of Muizenberg and Muizenberg itself which have really shown the value of coastal position'
Rawson said that at least a dozen new developments are now under way and in many cases approaching completion in this precinct. What is more, the fast sales and value increases achieved on almost all of them show that the demand here is exceptionally good.
Most of the houses east of Muizenberg, said Rawson, have been launched in the R450 000 to R1,2 million price bracket. All, he predicts, will prove excellent investments.
'A process started by Shearwater Homes with Capricorn Beach and then speeded up by the Faircape led consortium handling the beachfront and CBD has now really taken off. MSP, Amdec, Asrin and others are now handling one or more developments along Baden Powell Drive and inland '“ and the good news is that 80% of these have been suitable for first time and affordable bracket buyers. I am quite convinced that we are going to see a complete transformation in this area and that those who bought here have got in on the ground floor of what will be a very successful area'
