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OVERVIEW

Growth areas Voortrekker Road is the subject of several interventions to encourage bulking up (businesses and residential). The Greater Tygerberg Partnership is working to provide a catalyst for new developments that will build on the area’s existing strengths: transport links, medical facilities, retail, motor dealerships and residential. Possible construction projects could respond to the need for student accommodation: 100 000 students are in the area. The Greater Tygerberg Partnership has done a study on students’ accommodation needs and is encouraging building owners to cater to this need. The Voortrekker Road Corridor already has services and an established built environment, but it also has some dilapidated structures and it also has lots of open spaces. In other words, it has lots of potential. An area that continues to grow in terms of residential property is the West Coast. With mountains to the east, it is logical that areas north of Cape Town will grow: the only constraint is access to water. Blouberg, Parklands and Sunningdale continue to grow and attract good houses for residential property. The MiCiti bus route now serving the West Coast makes commuting to town much easier. George on the Southern Cape coast has seen some substantial new developments, including a private hospital built for Mediclinic, some new malls and a number of estates. Fancourt in George was

Online Resources Cape Town Transport and Urban Development Authority: www.tda.gov.za Construction Industry Development Board: www.cidb.org.za SA Estate Agency Affairs Board: www.eaab.org.za SA Institute of Architects: www.saia.org.za SA Institute of Valuers: www.saiv.org.za

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one of the first golf estates in South Africa. In 2017 a set of new plots were offered for sale on what was described as its “prized northern slopes”. A large gas discovery off the coast of Mossel Bay has caused some speculation that it might have a (long-term) effect on property prices in the area. The Knysna-Plett Herald quoted a Seeff Property spokesperson saying that Mossel Bay had seen sales grow year-on-year by 20%, with January 2019 the best sales month in four years. Seeff is developing two gated communities of more than 300 units in the R900 000 to R1.4-million price range. Although prices in George are higher, Seeff reports that older sectional-title property can be found from R650 00 and houses from R900 000. Family and golf estate homes mostly range from R2-million to R6-million but can go up to R8-million for a seaview. The George rental market is strong with luxury homes achieving up to R30 000 per month. ■ WESTERN CAPE BUSINESS 2020

Profile for Global Africa Network

Western Cape Business 2020  

A unique guide to business, investment and tourism in the Western Cape. The 2020 edition of Western Cape Business is the 13th issue of this...

Western Cape Business 2020  

A unique guide to business, investment and tourism in the Western Cape. The 2020 edition of Western Cape Business is the 13th issue of this...

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