The greater Blouberg area, a coastal suburb located just north of Cape Town, is rapidly becoming one of South Africa’s premier semigration destinations. With its idyllic coastal lifestyle, extensive amenities, and close proximity to Cape Town’s CBD, Blouberg’s property market has experienced remarkable growth, with 38% of purchasers based in other provinces.
According to recent data, 3 649 property transactions – collectively valued at an estimated R8.2 billion – were concluded in Blouberg during the last year. Significantly, 1 349 sales involved purchasers from other provinces, amounting to 38% of the market share. Based on available data, most of these purchasers are from Gauteng. Additionally, an estimated 2% of properties were sold to expats and foreign investors during the same period. Seeking an enhanced quality of life, prospective, out-of-province purchasers are drawn to Blouberg’s coastal charm, accessibility, natural surroundings, outdoor activities, and expansive amenities.
Fuelled by an elevated demand for residential and short-term rentals, Blouberg boasts a thriving rental investment market, which has stimulated higher-than-average capital growth. As such, property values have doubled during the last decade, with a rapid increase in the number of security estates and complexes in the area.
Demonstrating Blouberg’s affordability relative to the Atlantic Seaboard, for instance, 69% of properties were sold for less than R3 million and 42% of properties are below the R2 million threshold. Approximately 52% of properties sold were sectional title units, with an average sale price of R1.56 million. Comparatively, freehold properties were sold for an average price of R2.9 million.
Largely driven by semigration, the heightened demand for Blouberg property has afforded sellers greater leverage in negotiations and the ability to set favourable terms and conditions. In a seller’s market, however, increased demand doesn’t always mean a guaranteed sale. In property transactions, 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.
Considering selling or purchasing property in Blouberg and surrounds? STBB Blouberg is well-placed to handle your property transaction. For a seamless experience, let STBB Blouberg’s skilled conveyancers, Director, Lauren Sullivan, and Senior Associate, Bernice Mostert, handle all the legal complexities.
Contact STBB Blouberg on 021 521 4000 or visit our offices at 24 Blaauwberg Road, Blouberg today.
