Located on Cape Town’s Southern Peninsula, the captivating seaside suburb of Noordhoek is well-known for its natural beauty, close-knit community, equestrian charm, and relaxed atmosphere. With its extensive amenities, proximity to the CBD, and access to nature trails, beaches, and birdwatching opportunities, Noordhoek is a popular choice for those seeking a laidback – yet accessible – lifestyle. It is little wonder, then, that these sought-after qualities are reflected in the suburb’s surging property prices.
According to recent data, Noordhoek’s residential property market has witnessed a significant spike in prices over the last three years. Indeed, statistics illustrate that the average price of a house in Noordhoek rose from R5.3 million in 2021 to R8.65 million in August 2024, amounting to a 68% increase.
In 2021, just four homes fetched a purchase price exceeding R10 million – and none sold for more than R20 million. During the first eight months of 2024, twelve homes were sold for more than R10 million and two of these properties crossed the R20 million threshold. The data indicates that Noordhoek properties are selling at a significantly faster rate, too. In 2021, the average property spent 157 days on the market. By August 2024, this number decreased to 66 days.
The growing demand for Noordhoek property, which is largely driven by semigration and heightened interest from foreign investors, has firmly placed sellers in the driving seat, affording them greater leverage in negotiations and the ability to set favourable terms and conditions.
In a seller’s market, however, increased demand doesn’t always translate into a guaranteed sale. In transactions involving the sale of immovable property, the seller has the prerogative to appoint a conveyancer to attend to the registration of the transfer of the property into the purchaser’s name. The impetus for this is clear: the seller is disposing of a key asset, which is often their most valuable asset, and the conveyancer is obligated to ensure the transaction proceeds as smoothly and efficiently as possible.
During the conveyancing process, the emergence of unforeseen obstacles is commonplace. These problems may relate to the uncovering of property defects post-signature, title deed restrictions, non-fulfilment of suspensive conditions, tax implications, or the absence of approved building plans. Predictably, these technical issues may result in unnecessary delays and lost opportunities for sellers and purchasers alike. From a seller’s perspective, it is thus imperative to appoint a skilled conveyancer to draft a comprehensive and watertight sale agreement, manage risk, and ensure a seamless property transaction for all involved parties.
Managed by Nicole Stevens, a Director and experienced conveyancer, STBB Noordhoek adopts a client-centric approach to every transaction. Dedicated to understanding our clients’ unique needs and objectives and providing practical legal solutions, STBB Noordhoek is ideally placed to handle your matter from start to finish.
Interested in selling or purchasing property in the Southern Peninsula? For expert legal assistance and unrivalled client service, contact STBB Noordhoek at 021 784 1580 or visit us at 4 Carlton Close, Sunnydale, Noordhoek.
