Although properties in Gordon’s Bay don’t skimp on beautiful ocean and mountain views or a festive holiday vibe in the least, it is still considered as one of the coastal towns in the Western Cape that offers the best value for money.
Loryn Alberts, a Seeff agent in Gordon’s Bay, says that even though house prices in Gordon’s Bay show a 6% growth since 2015 indicative of a healthy property market, property here is still much more affordable than in most other harbour towns.
“Gordon’s Bay is somewhat of a hidden gem, but more inland buyers especially are becoming aware of the value for money that is to be found here. It is no longer only a popular holiday destination, but people are realizing that it is actually a viable option for those who want to retire by the sea, enjoy the holiday vibe of the blue flag status Bikini Beach on a semi-permanent or permanent basis and those who want to relocate to a close knit community, yet be close enough to all amenities and the city. Another major positive is that Gordon’s Bay also offers something in almost every price range, unlike many other upmarket coastal areas”.
Alberts continues that the price of sectional title in Gordon’s Bay has grown from R770 000 in 2015 to R890 000 to date this year, freehold from R1,360 million last year to R1,925 this year and vacant land from R462 000 last year to R512 000 this year.
“The average house price in Gordon’s Bay range from R1,2 million to R1,4 million and this price mostly includes three bedrooms, at least one garage and a garden. Properties in this price range however are high in demand and demand outstrips supply thus making the turnover in sales much faster”.
Entry level prices are targeted on vacant plots from R350 000 and up and are very popular as more buyers are building due to the shortage of property the market has to offer. The most expensive properties on the market in Gordon’s Bay are priced up to R20 million.
“There is a major shortage of available rentals in Gordon’s Bay and we are looking for developers as the area has ample land available for new development”.
Alberts concludes that their branch has sold around 10 vacant plots in the past year that range in price from R350 000 to R2 million. There is also undeveloped land available in the area that is priced upwards of R5 million to as much as R80 million that could be utilized for various purposes.