(MENAFN- EIN Presswire)
HOUT BAY, WESTERN CAPE, SOUTH AFRICA, September 17, 2024 /EINPresswire / -- ●The Hout Bay property scene in Cape Town, South Africa is currently in a seller's market, with homes selling faster and at higher prices due to increased demand and limited supply.
●The average selling price of properties in Hout Bay is approximately R5.1 million, reflecting a 37% increase compared to 2019
●In addition, the lack of available rental properties has resulted in rapid sales of properties priced between R2 million and R4 million, indicating strong demand across various segments of the market
Hout Bay's current property market is characterised by robust growth, increasing property values, and a diverse buyer demographic. With ongoing trends of an increase in swallow investors, semigration, the rise in remote work and a shortage of rental stock influencing the market dynamics, the combination of strong demand, ongoing interest from buyers, and potential investment in local infrastructure, suggests that the market will continue to grow in the foreseeable future.
The combination of appealing lifestyle factors and robust investment opportunities in this vibrant and evolving area continues to make Hout Bay a sought-after location in the Cape Town property landscape.
The latest Propstats data for Hout Bay reveals a dynamic property market characterised by significant sales activity and rising property values. It shows the overall average selling price in Hout Bay now stands at around R5.1 million, representing annual growth of around 6.7% per annum, well above the average CPI rate. Comparatively, the average price growth across the country is now below 1% according to the latest data from the FNB House Price Index.
Yet, Hout Bay's allure extends beyond investment statistics. The area is celebrated for its natural beauty, community atmosphere, and recreational opportunities. It offers a blend of tranquil coastal living and a laid back atmosphere with access to urban amenities, making it an attractive destination for both foreign buyers and seasonal residents and a sanctuary for those who enjoy a stress-free lifestyle.
La'Mare Estate, an exclusive development nestled on the serene edges of Hout Bay offers a unique lifestyle opportunity, positioned close to the beach, with each apartment crafted to maximise the stunning uninterrupted views of the surrounding nature reserve and the vast, azure ocean. A short drive connects you to the eclectic centre of Hout Bay, abundant with restaurants, shops, and local art.
“The Hout Bay area has morphed into both an owner occupier and investor based area, with returns consistently appreciating at over 9% year on year,” confirms Emmanuel Germanis, CEO of Revo Property.“And with expected interest rate cuts this year, we anticipate total sales for 2024 to potentially top the R1 billion sales by the end of the year,” he adds.
La'Mare comprises seven elegantly designed blocks, each housing 12 exclusive apartments. With a choice of one and two-bedrooms units, starting at R1.995 million (including VAT), each boasts a balcony, providing residents a private panorama of Hout Bay's scenic beauty. Ground floor units offer expansive garden spaces with braai areas, perfect for entertaining or unwinding in the gentle sea breeze.
For those wanting to take advantage of spectacular sea views, the top-tier luxurious two-bedroom penthouse apartments feature large balconies and private braai areas, setting the stage for an unmatched living experience.
The interiors at La'Mare echo the soft, sandy tones of the beach, with a modern flair that allows for personal customisation. Residents will enjoy high-speed fibre connectivity, 24-hour security, secure parking, and a pet-friendly community. Each apartment offers optional upgrades like premium kitchen specs, engineered wood flooring, back-up power solutions, and air conditioning.
“Beach House, a previous Hout Bay development, sold out within the first hour of being launched by Revo. Witnessing the quality of buyers for Beach House and demand for property, close enough to the action but still entwined by nature, prompted us to share the La'Mare Estate development with our clients as a fantastic investment opportunity,” added Germanis.
“The majority of units will push out a double-digit yield through our short stay rental model, a lucrative return for swallow investors,” predicts Germanis.
Promises Germanis,“With the La'Mare Estate in particular, we're happy to manage your investment for you, ensuring you see the returns you want”.
For more information about investing in the La'Mare Estate, visit
Joshua Lipner
Revo Property
+27686404121 ext.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.