Areas and Places

Noordhoek real estate market showing healthy growth

Buyer activity has surged in the Noordhoek area when one compares total sales revenue figures for the first seven months of 2012 with those of 2013; according to Propstats,  total sales revenues in Noordhoek increased by 88% from R39 240 000 in the first seven months of 2012 to R73 878 750 for the same period in 2013. “Buyers are prepared to pay a bit more in Noordhoek, because they perceive excellent value for money in the area,” says Mike Greeff. “The differential between the asking price and selling price of properties  has improved to the seller’s advantage in that it has dropped by five percent  to minus six percent in 2013, from minus 11 percent in the first seven months of 2012,” adds Greeff.


Recently sold by Greeff Properties: This north-facing, Lake Michelle home with three-bedrooms, three-bathrooms and two lounges, boasting panoramic views of Chapman’s Peak. Price R3.2 million.

He says that people living in Noordhoek tend to embrace a rural/beach-holiday lifestyle complete with extensive natural beauty, equestrian trails and exquisite ocean and mountain views. “Business parks like Westlake and private schools such as Reddam, as well as several excellent schools in the False Bay area make day-to-day commuting a little easier than it was in years gone by when Noordhoek really was perceived as an off-the-beaten-track location,” says Greeff, adding that most Noordhoek residents run businesses from home or tend to work in the Noordhoek valley or in the Southern Suburbs generally as far as Claremont.

Greeff Properties expanded its operations to include False Bay and Noordhoek in April 2010. According to Propstats sales figures, Greeff Properties currently holds a 33.2 percent market share in the Noordhoek area. “In June and July of 2013 alone, Greeff agent, Dale Gremels, sold ten properties in Noordhoek,” says Greeff. These range from a vacant one-acre plot which fetched R920 000 to a four- bedroom, four -bathroom, home with four garages which fetched the full asking price of R5.3 million. Other sales include a three-bedroom, two-bathroom property ,with a work-from-home option and unobstructed views , which sold for  R5.25 million; and a four-bedroomed, three-bathroomed, north-facing home with guest cottage set in the beach area  with views of Chapman’s Peak which sold for R3.2 million.

“The tide is clearly beginning to turn and sellers are starting to enjoy more of the advantages,” says Greeff, adding that eager buyers have bought up much of the available stock.  “Those planning to sell would be wise to start putting their homes on the market over the next few months, particularly while the interest rate on bond repayments is still as low as it is,” says Greeff. Currently for sale by Greeff Properties: Set on the water’s edge at Lake Michelle, a three-bedroomed, two-bathroomed home with a study and a double garage. The property abuts a flat green lawned area. Asking price: R3.2 million.

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