{"id":801035,"date":"2024-11-22T17:00:00","date_gmt":"2024-11-22T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=801035"},"modified":"2024-11-22T15:06:15","modified_gmt":"2024-11-22T13:06:15","slug":"a-look-at-the-r18-million-house-for-sale-in-one-of-the-worlds-coolest-areas","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/801035\/a-look-at-the-r18-million-house-for-sale-in-one-of-the-worlds-coolest-areas\/","title":{"rendered":"A look at the R18 million house for sale in one of the world’s ‘coolest’ areas"},"content":{"rendered":"\n

A house in Kalk Bay, Cape Town is on the market for R17.75 million. <\/p>\n\n\n\n

Lew Geffen Sotheby’s International Realty<\/a> said that the 3-story Villa de Luc epitomizes luxurious coastal living.<\/p>\n\n\n\n

“This contemporary masterpiece boasts three spacious bedrooms, offering the perfect blend of comfort and style,” said the real estate company.<\/p>\n\n\n\n

“The primary bedroom features a luxurious en-suite bathroom, while the other two bedrooms share a conveniently located family bathroom, ideal for accommodating guests or family members.” <\/p>\n\n\n\n

The veranda offers sea and mountain views, while the back garden provides a private oasis. The property also has a double garage.<\/p>\n\n\n\n

Kalk Bay was named one of the coolest neighbourhoods in the world in the latest Forbes ranking.<\/p>\n\n\n\n

This popularity is seen in skyrocketing median property prices, which reached record highs this year. <\/p>\n\n\n\n

With little land available for new development, the City’s seaside village is set to become the Cape\u2019s hip holy grail.<\/p>\n\n\n\n

Lightstone’s data has shown that house and sectional title prices have jumped by 68% from R4.76 million in 2023 to R8 million in 2024, while sectional title prices have jumped by 31.8% to R6 million.<\/p>\n\n\n\n

There has also been little movement in land sales due to the lack of availability.<\/p>\n\n\n\n

Not only is land in short supply, but so are houses, especially those in the entry and mid-level price bands. <\/p>\n\n\n\n

\u201cLack of available stock is another factor driving up prices in the area and this is not likely to improve any time soon as a growing number of buyers seeking coastal living in Cape Town are realising that this coastal strip offers excellent value compared to other areas like the Atlantic Seaboard,” said Paula Giusti and Jonathan Alexander from Lew Geffen Sotheby\u2019s International Realty. <\/p>\n\n\n\n

\u201cIt used to be that the majority of buyers here were locals looking to move closer to the beach or retire, however, this is no longer the case as Kalk Bay has become very popular with upcountry buyers and has also started to attract the attention of foreign investors.” <\/p>\n\n\n\n

\u201cWe\u2019re currently marketing a R6.5m home in which five foreign buyers are interested and we\u2019re also starting to see this level of interest in St James and Fish Hoek.\u201d<\/p>\n\n\n\n

A major drawcard of Kalk Bay is the wide variety of property options, ranging from quaint cottages to expansive hillside homes.<\/p>\n\n\n\n

\u201cMany of the older properties have been renovated in recent years, so there are some stunning homes in the area,\u201d said Alexander and Giusti.<\/p>\n\n\n\n

\u201cThere are also a few secure developments which are especially popular with upcountry buyers, but these homes tend to be in very short supply.<\/p>\n\n\n\n

The duo added that many family-sized homes within the Kalk Bay village are renovated houses. These homes were bought from retirees who downsized.<\/p>\n\n\n\n

\u201dMost of these buyers are empty nesters who relocate to Kalk Bay as it offers a tranquil and quality ocean lifestyle, where they can walk to good restaurants, tidal pools and quirky shops.” <\/p>\n\n\n\n

\u201cThe smaller cottages and flats tucked away up cobbled streets near the main road tend to attract younger buyers who enjoy the vibe of the village and easy access to the eclectic boutiques, cafes and restaurants as well as to the beach where they can hop into the ocean for a swim or surf.” <\/p>\n\n\n\n

\u201cForeigners like to buy property in this area as an investment that can rented out when not they\u2019re staying here themselves.\u201d<\/p>\n\n\n\n

They added that the area has a strong rental market, particularly for holiday lets, which are very much in demand. <\/p>\n\n\n\n

\u201cThis represents good opportunities for investors and who can look forward to great long–term capital growth and excellent short-term returns.\u201d<\/p>\n\n\n\n

\u201cKalk Bay has its own very unique character. In one way it has a very European feel with its cobbled roads and trendy onsite shops, cafes and restaurants yet with a distinctive local influence and it therefore has a very eclectic demographic which adds to its considerable charm.” <\/p>\n\n\n\n

\u201cAnd there are few places where outdoor lovers are as spoilt for choice. Along the oceanfront, they can enjoy seaboard walks, water sports and an invigorating dip in the tidal pools or sea, and the mountains above Boyes Drive have several marked walking trails along which hikers can enjoy a profusion of bird life and indigenous vegetation and spectacular sea views.\u201d<\/p>\n\n\n\n

Images of the R17.75 million property can be found below: <\/p>\n\n\n\n

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Read<\/strong>: Foreign investors take R124 billion out of South Africa<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

House prices in Kalk Bay are skyrocketing, with limited properties and land up for sale. <\/p>\n","protected":false},"author":95,"featured_media":801056,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[26,10711],"class_list":["post-801035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-headline","tag-lew-geffen-sothebys"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/801035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=801035"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/801035\/revisions"}],"predecessor-version":[{"id":801082,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/801035\/revisions\/801082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/801056"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=801035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=801035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=801035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}