The Property landscape for the Western Seaboard as a result of the Pandemic has only had a positive outcome with property prices increasing and now demand soaring. The answer to the WHY? is a multitude of factors which we have really got to understand through building relationships with both buyers and sellers over the past two years since ‘lockdown’, providing us with key insights to the market in an unchartered territory.

In 17 years of Real Estate experience along the Western Seaboard of Cape Town, none were quite as thought provoking and as the past two years! So, we all know that the coronavirus pandemic was a tumultuous period for our country of doom and gloom as it hit our country with rolling lockdowns and hurt our economy, however the impacts were of a different outcome for the Real Estate industry, especially along the Western Seaboard of Cape Town. During this period, we have experienced a resurgence in the property market first hand with sales in 2020 and 2021 continually reflecting growth (backed by the statistics in Light Stone) which reflected an upward trend in both median house prices and property values across the Western Seaboard, and we don’t see it stopping any time soon. 

2020 saw the benefit of a pent-up demand and interest rates cuts, whilst 2021 was mainly driven by Semigration and the increased demand for comfortable, work-from-home lifestyles. Factors that buyers considered most important in their property journey when seeking a property were.

1. A demand for larger homes offering a comfortable working environment as more people became flexible to work-from-home, a trend we foresee continuing in years to come as Corporates realise the benefit and cost savings.
2. An upward trend to moving out of the City to what previously were seen as more“remote” suburbs such as Melkbosstrand and Grotto Bay due to the nature of this flexible working environment and the need for people to create balance through a more relaxed lifestyle environment.
3. The work-from-home environment has also increased people’s discerning desire to be part of a community and apart from the security factor, gated villages and Estates are becoming ever-increasingly popular. This is also due to the need to have outdoor spaces which are deemed as secure and safe spaces to exercise or relax.
4. With continuous load shedding challenges, we are definitely noting a desire for environmentally friendly homes equipped with green tech. 

Again, we see international factors playing their part and I have no doubt that 2022 will see a few more overall economic challenges for us, however I am confident that the residential property market in South Africa, and in particular, across the Western Seaboard will see further recovery and multiple opportunities for property value growth in the years to come!