As we hurtle towards the end of 2021, the big shift in the market is the presence of international buyers in the last two weeks. The removal of the requirement to quarantine has brought much needed international visitors to South Africa.
Two of the last three sales at Hardie Property have been to international buyers with further pending offers in the pipeline. This very morning (04.11.2021) I was out with German buyers in Three Anchor Bay and tomorrow I am out with UK and German buyers in Constantia & Bishopscourt. International buyers are also setting viewing dates for December which is a positive sign.
A quick overview of the market. 2021 has predominantly been a buyer’s market but quality stock is starting to wane and in Q2 & Q3 I started to experience multiple buyers chasing the same properties. As predicted, there has been a fresh influx of buyers from JHB plus a new wave of buyers from KZN after the riots. Increased demand from buyers is putting a serious dent into the inventory of properties to buy.
Hardie Property has a very strong list of buyers for Cape Town neighbourhoods and despite numerous requests for fresh properties, owners are reluctant to sell.
The rental market is chaotic. Demand is completely outstripping supply for rentals over R30,000 pcm and finding family homes to rent between R40,000 and R80,000 pcm is like trying to find a needle in a haystack. Tenants are having to make huge compromises and many are taking properties unseen as soon as they come to the market.
Covid has changed the way we live and work. The trends of 2021 have been working from home space, outside space of some sort and a strong demand for security estates or boomed areas.
TOP 5 SEARCHES
- Bishopscourt/Constantia Upper home up to R45,000,000
- Constantia homes up to R8m
- Newlands lock up and go three/four bed home up to R7m
- Family homes to rent circa R50,000 in Newlands, Bishopscourt or Constantia
- 100 + sqm apartment with incredible Table Mountain views up to R6m
The list is long, get in touch if you are thinking of selling or renting as we probably have a match and if we don’t, the likelihood is your property will sell or rent quickly based on current market conditions.
Predictions for 2022 – high demand for rentals will continue and Cape Town property prices will start to rise marginally if they haven’t in some suburbs already.
A FEW STATS – 2020 vs 2021 (if you’d like a break down for your area or road, feel free to get in touch)
|Number of transferred sales||Q3 2020||Q3 2021|
|CAMPS BAY (Freehold)||11||15|
|SEA POINT WEST (Sectional Title)||48||52|
Good luck with the remainder of 2021. Hardie Property is pushing hard and we are incredibly grateful for all of the support and business.
Founder & Director