As we all adjust to a new Covid 19 normal, many people have made one of the biggest changes is choosing to work from home and leave traditional office spaces behind.
This has had a major impact on the luxury market where lifestyle and work environment are more important than ever resulting in a massive surge in sales in Llandudno.
With only 3 sales recorded in the period 2019 to 2020 to 11 sales for the period 2020 to 2021, it has been one of the most unexpected and busiest periods for Cape Waterfront Estates.
We have been responsible for 7 out of the 11 homes sold in Llandudno giving Cape Waterfront Estates a market share of 63%. View stats
Our Hout Bay agents have been equally busy with a 70% increase in turnover with massive demand in homes situated in security estates.
Equally, we are running short of luxury homes to let as many corporations are looking to relocate staff to Cape Town.
The property cycle of an oversupply of stock and what is termed a “buyers market “ is nearing an end and we expect prices to rise by the end of the year on the back of stock shortages. This trend is also being fuelled by low-interest rates.
Should you be contemplating buying in Hout Bay, Llandudno, Constantia or Sea Point don’t leave it too long as your choice may be reduced and prices may start to rise.
If you are looking to buy or sell we look forward to getting together and chatting over a cup of coffee.
Best to all,
Margie, Clare, Fiona, Terry, Arlene, Alison & Jane