Why Plettenberg Bay should be on your property radar
Category Property Advice
There is no doubt that Plettenberg Bay has some of the most beautiful beaches in the country. The area has been nominated as Africa's leading beach destination for the 12th consecutive year. With its 20 kilometres of pristine and unspoilt sandy beaches, it is no wonder that investors are keeping a close watch on the town's property market.
Plettenberg Bay achieved six blue flag beaches in 2020. They are the Natures Valley, Singing Kettle, The Waves, The Dunes, Lookout, and Robberg 5. Plett, as referred to by the locals, also has a blue flag boat called the Offshore Adventures.
Perfect halfway stop on the Garden Route
Plettenberg Bay was named Bahia Formosa, meaning 'beautiful bay', by early Portuguese explorers. It is ideally situated on South Africa's Garden Route which is 210 km from Port Elizabeth and about 600 km from Cape Town.
The Garden Route is ranked as the sixth wealthiest city with a combined wealth of $44bn, as indicated in the SA Wealth Report 2020. At the time of publishing the area was home to 2500 high net worth individuals and 100 multi-millionaires.
Many local and international tourists find that Plettenberg Bay is the perfect place to stop along the Garden Route to explore the area. Some of the attractions include the Robberg Peninsula Nature Reserve, the world's largest free-flight aviary Birds of Eden, sea kayaking, and even whale watching. Bearing this in mind, investors use this opportunity to purchase a holiday rental or second home here.
The ideal place to set up a home office
Since the Coronavirus pandemic pushed companies to adapt to a work from home lifestyle, many people have chosen to leave the cities and move to more serene towns such as Plettenberg Bay.
The picturesque views and fresh ocean breeze are motivation enough for employees to strive for the best while working from home. The work from home trend is set to continue post-pandemic for most companies, hence buyers are currently keen on investing in versatile homes in the area.
It is the best time to buy
Irrespective of COVID, Plettenberg Bay's property sector is currently experiencing a buyers market. This means that there are a variety of properties for buyers to choose from. It gives investors room for negotiation since sellers want to complete a sale as soon as possible. There is a strong chance that homeowners in Plettenberg Bay are either upgrading their current properties or emigrating to greener pastures.
To add to this, commercial banks have kept a stable prime lending rate of 7% since July 2020 - the lowest in five decades. It is the best time for new homeowners to fix their interest rate. Moreover, existing homeowners who did not fix their interest rate are now able to pay off their home loans much sooner than expected.
What's on offer in Plettenberg Bay?
This beautiful 3-bedroom apartment is located in the prime location of Castleton. It boasts uninterrupted views over a golf course, the Piesang Valley, and the Schoongezicht Nature Estate. Far from traffic and noise, it is a dream spot to live in if you value peace and tranquillity. Perhaps you will get around to writing that novel you always dreamt about here.
If you are seeking an investment that will bring in a profit then this 5-bedroom guest house in Seaside Longships is the perfect place to watch your money grow. This multi-purpose guest house was designed to be used as either office space or a holiday letting facility. It is conveniently located a stone throw away from the Robberg beaches and local shopping centres.
If you want to invest in this beautiful seaside town on the Garden Route then contact Knight Frank today. Our specialised area experts will help you secure the ideal investment.
Author: Knight Frank