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Strand property: Flat / Apartment
for sale / to buy
Great lock-up & go inside Ocean View hotel
Strand, Western Cape, South Africa
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| Price:
R585,000
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Great lock-up and go. Perfect for young couple or single professional. Beachfront apartment (although sadly, no sea views). Offers 1 bedroom, 1 bathroom, open plan living area and kitchenette. Furniture included. Microwave, kettle, toaster, 2 plate stove and all corckery included. Also includes double bed and 2 sofa's.
Strand Background Information :
Beachroad
Property Market :
Properties on Strand’s Beach Road varies between the oldest apartments of +- R600 000 to beachfront penthouses of more than R10 million. One of the biggest property growth points in the Helderberg during the last 3 years has been the choice of new developments on Beach Road.
Capital growth in the Strand has during 2008 dropped along with the rest of the country – with buyers taking control of the market. Buyers who bought into the beachfront developments on the expectations of strong capital growth & the chance to speculate, have created a fair number of “willing sellers” during the last 18 months. The surplus of available apartments on Beach during 2007 has according to some sources surpassed the 200 level, suppressing capital growth on Beach Road during the last 2 years.
According to CMA Info, there had been 46 sales in Strand Beach Road during the last 12 months – that is about 4 sales per month. This data excludes new developments such as Hibernian Towers, Meridian or Topaz which has not yet been registered. Prices obtained varied between R7 600 / sq.m (Strandsig) to R24 700 / sq.m (Cape Sands).
The price structure of Beach Road properties can be roughly categorized in 4 different groups according to “age & finishes”. The average price per square meter runs with some exceptions along with the 4 different complex groups. Beach front apartments were selling in 2003 from about R6000 per sq.m to about R9000 per sq.m. Beachfront property is at present selling from +-R7 600 per sq. to +- R30 000 per square meter.
Group 1 : Older than 20 years = R 7600 to R13 500 per sq/m
Group 2 : 10 – 20 years = R11 000 to R15 000 per sq/m
Group 3 : 3 – 10 years = R11 000 to R22 500 per sq/m
Group 4 : New developments = between R18 000 and R30 000 per sq.m - depending on its finishes and the units location in the apartment block. Resales are between R16 000 & R24 700 per sq/m.
Group 1 : Selling prices & therefore capital growth achieved do vary greatly with the level or quality of the interior finishes & renovation inside the older complexes – creating a situation where the per sq/m. prices obtained e.g. for the small St Tropez bachelor units is R23 000 per sq.m whilst another “larger & not renovated” unit sold for R12 600 per sq.m. The older not renovated units offers the best value for money as shown in Strandsig where a 74 sq.m apartment + a garage, sold for R680 000 in October 2007. Other units were Helderberg (83sq.m for R699 000) & Cisterama (113 sq.m + garage for R1,025 million).
Group 2 : This is probably the most sought after group of complexes – as the complex’s locations generally tend to be in the better spots along Beach Road, whilst it still falls into the affordable price bracket for lifestyle property.
Group 3 : This group of complexes offers similar lifestyle & finishes than the new developments – but from a lower price bracket.
Group 4 : The oversupply of new developments on Beach Road coupled with the 5% hike in interest rates during the last year, has led to below cost resales in new complexes like Atlantica & Ocean View, fetching between R10 300 to R16 000 per sq/m. Despite this trend, the Hibernian Towers (70% sold out) & Meridian have been selling for up to R30 000 /sq.m – differentiating themselves from the rest of the market due to the additional lifestyle offerings such as boutique shops being added to the mix (Hibernian Towers) or concentrating on the philosophy of going smaller to be more affordable (Meridian).
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Property Facilities |
Strand property |
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| ◊ Bedrooms: 1◊ Bathrooms: 1 |
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Contact Details |
Strand property |
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Benhard Wiese
Tel: 0218538772
Cell: 0846112293
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to e-mail this agent |
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(click images to enlarge)
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