With our coastal resorts entering their cooler season in terms of the weather – there seems to be no cooling off in terms of demand for top-level homes in such areas.

According to a report on the News24 site, Kevin Engelsman, MD of Seeff Plettenberg Bay, says there is still a big demand for the really upmarket, more expensive properties, which is driving the average price up. 'The property market has declined in terms of volume year on year. However, the total rand sales has remained the same. The average prices of homes in Plettenberg Bay have escalated by 24.5% over a one-year period and by 18,4% over a three-year period.' Engelsman says the current ranges of prices of properties on his books are as follows: residential homes from R1 040m to R25m; apartments from R750 000 to R10.5m, stands from R395 000 to R7.5m, and vacant land up to R44m.
Full report on the News24 site