The defining trend in Fish Hoek at the moment is dramatic shortage of stock in entry level properties from R800 000 to R1.2 million according to Mike Greeff, CEO of Greeff Properties, an exclusive Affiliate of Christies International Real Estate. “These properties are snapped up almost as soon as they come onto the market, and they’re fetching very close to asking price too,” says Greeff.
“ There is significant value for money on this side of the mountain, not just compared to properties on the Atlantic side of the peninsula, but also by comparison with similar accommodation in the southern suburbs,” adds Greeff. “What you’re paying five or six million for in Constantia, is priced at three or four million in Fish Hoek.” He says that those seeking affordable homes in Fish Hoek are willing to commute the extra 15 or 20 minutes to get to work or schools.
“Fish Hoek asking prices are currently so reasonable, it’s unlikely that you’d be able to buy a plot and build a home from scratch at a cheaper price, in fact in most cases, your tab would be higher if you built,” says Greeff. A current case in point is a seven-bedroom, six-bathroom, (five are en-suite) home with breathtaking ocean and valley views priced at only R3 95 million, and for sale by Greeff Properties. “This mountainside home is in immaculate condition and has guesthouse or bed and breakfast potential. It boasts a fully fitted gourmet kitchen and the price includes VAT, so there is no transfer duty,” says Greeff.
Currently for sale by Greeff in Fish Hoek, are a range of properties including two bedroomed apartments priced from R695 000 to R1 275 million, and family homes priced from R1.25 million for a three-bedroomed, one-bathroom home on a 243 m² erf to R4.6 million for a four-bedroomed, three-bathroomed home on 545 m² with panoramic views.
Properties right on the coast line are priced somewhat higher, but still offer excellent value when compared to similar homes on the Atlantic Seaboard. Greeff has recently sold a four-bedroomed, four-bathroom, home with four garages and located just footsteps from the shoreline in Fish Hoek with direct access to Jager Walk for an impressive R10 million. “This was quite a rare occurrence as homes like this do not often find their way onto the market, invariably, they are handed down through generations, but the market clearly perceived the value and offers were made accordingly,” says Greeff.