Strand property: Flat / Apartment for sale / to buy

The Strand apartment is in the Atlanta complex -one of the best managed complexes in the Strand - clean cut! Good security. The apartment is in a very good condition.

Its location in the complex also allows for maximum privacy. The fact that it is a groundfloor unit also complements its lifestyle offering.

Atlanta has a communal swimming pool and a braai area. The apartment also boast a shadenet parking bay.

A rental agreement for the apartment is in place untill the end of 2010.

Strand Background Information :

General :

The Strand offers you the convenience of city-like amenities and a world-class beach area - without losing its small town characteristics. Located in the Helderberg basin on the eastern edge of False Bay, it is within 20 minutes of Cape Town International airport & 45 minutes from Cape Town's CBD.

Within a radius of 10 kilometers, you will find a Regional Shopping Centre, a variety of sports facilities including 6 golf courses, choice of secondary and primary schools, top medical facilities with all national financial & commercial institutions represented. It has a population of about 50 000.

Strand’s main attraction is its 5 kilometers long sandy white beach – with a variety of water sports such as surfing, sailing, power boating, kayak & paddle skiing, wind-surfing & board sailing being enjoyed at various points along the beach front. Strand was nominated the best family beach in South Africa in 2007.

Strand was founded in 1714 as a fishing town by Cape Malay slaves. It has evolved during the last 3 decades into vibrant part of the Helderberg basin, with a healthy mixture of retirees, families, business people & a seasonal inflow of holiday goers flocking to one of South Africa’s prime seaside destinations.

The coast between the Lourens River mouth up to Rooi Els is very popular with beach fishermen and rock anglers, whilst organised and social diving activities beckon the more adventurous.

Property Market :

Properties in the Strand varies between entry level apartments of +- R300 000 to beachfront penthouses of more than R10 million whilst own title varies between townhouses of R400 000 & sea front houses up to R14 million. The biggest property growth points as of late has been the choice of new developments on Beach Road as well as the entry level market sectional title properties starting at about R340 000.

Limitation on development ground bodes well in the long term for any property investment in the Strand. Capital growth rates achieved in the Strand during the 2004/2005 upswing in the South African property market, surpassed the national average rate of 23% by far......

Entry level units started in 2003 @ R90 000 for a 30sq.m 1-bedroom apartment - selling at present from R310000. That is a growth of 244% in 5 years or about 48,8% per year! Capital growth has since the beginning of 2008 virtually flattened out – on par with the national trend.

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 100 per sq. to R30 000 per square meter. The existing complexes on Beach Road can be categorized in 4 different price brackets according to “age & finishes” with the average price per square meter:
1. Older than 20 years = R 7100 to R13 500 per sq/m
2. 10 – 20 years = R11 000 to R15 000 per sq/m
3. 3 – 10 years = R11 000 to R22 500 per sq/m
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.
The own title neighborhoods have of late seen a surge in renovations with owners adding value to their properties - fuelled by the price hikes experienced in the town. The more sought after suburbs such as Strand North, has experienced capital growth rates between 2003 & 2008 of about 150 % (30% p.a.) - with the average house price raising from R450 000 to about R1,1 million. Capital growth in the Strand has during 2008 dropped from the abovementioned high levels along to less than 10% with the rest of the country – with buyers taking control of the market.

Affordability has during the last year became a problem in the Strand market, creating a "roll-over effect" of potential buyers to less expensive areas such a Kuilsrivier, Brackenfell and even Grabouw.

The adjacent Gordons Bay has experience very similar capital growth rates than the Strand. Future growth points in the Strand property market is the so-called AECI development node across from the Somerset Mall. This will be the last land available for development - eagerly awaited by investors.