5 Reasons to invest in Hout Bay
Category Hout Bay
It's no secret that Hout Bay is not an average town. Nestled perfectly between Cape Town and Cape Point this tranquil place is a hotspot for many property investors. Property in Hout Bay caters to a variety of buyers. Some seek a cosy place to establish a family. Whereas, others like the idea of it being their permanent holiday destination.
Considering investing in Hout Bay? Here are five reasons to convince you that it's the best place to be:
1. It is a prime location for investment
Property in Hout Bay is more affordable than in Cape Town. Considering that Cape Town is just a 20-minute drive away, many residents who work in the city would not mind getting more value for their money in Hout Bay. For instance, for R2.2 million you can buy a one-bedroom apartment in Cape Town's City Centre or a two-bedroom apartment in Hout Bay.
Both areas appeal to millionaire investors with prices soaring up to R115 million for a three-bedroom penthouse in Clifton. However, for just R22 million, you could get a seven-bedroom house with unrivalled scenery that can easily convert to a hotel. The further upliftment of the area means that more people will be attracted to lucrative investments in the town.
2. Hout Bay is a top holiday destination
Many people want to escape the hustle and bustle of city life. They tend to find their peace in a town like Hout Bay. The serene atmosphere makes it a sanctuary for those who value a laid back lifestyle. Purchasing a holiday property in Hout Bay allows you and your family to have this permanent retreat.
What's more is that if you do not take advantage of your holiday home, you can let it out as holiday accommodation. Many tourists, local and international, want to experience the most of the Cape. The new trend amongst travellers is to stay at as many locations as possible to get the real feel of each city or town.
3. Unparalleled views will bring you tranquillity
Over the years urban development has been a top priority in Hout Bay, yet incorporates its timeless ambience with its fishing harbour and country atmosphere. Hout Bay's picturesque beach is surrounded by soft, powdery sand dunes, turquoise waters, and fierce mountain ranges. The beach stretches from Chapman's Peak towards the Hout Bay Harbour. If you keep an eye out then on some days you may also spot the friendly dolphins and whales in the bay.
4. Property values are on the rise in Hout Bay
Property prices in South Africa are on a constant increase. The same holds for Hout Bay. Aside from market increases, you can also raise the value of your property by making improvements to it. Upgrades to your property will gain a bigger return on your investment if you decide to sell in the future.
Many investors have taken on house flipping to make a profit in the real estate industry. Some properties in the town that need to be fixed up come with a lower price tag. This gives you more room to give your investment a boost.
5. Hout Bay is a thriving community
Hout Bay is a close-knit suburb where residents enjoy a stress-free country lifestyle. Ideally tucked away within scenic backdrops, many of the locals can be found on the beautiful white-sand beach surfing or walking their dogs. The bustling marina and a working harbour serve its thriving tuna, snoek and crayfish industry. The fishing industry in Hout Bay provides immense job opportunities for locals.
Hout Bay is a thriving town with tons of investment potential. Whether you are looking for a place to call home or an investment opportunity to supplement your income Hout Bay should be an area on your radar. Contact Knight Frank today for your next property in this beautiful haven.
Author: Knight Frank
