According to Helen Ward, principal of Helen Melon Properties in Plettenberg Bay, statistics between 2014 and 2020 show that nearly 50% of their sales here were too buyers from Gauteng, with 26,6% being from Plettenberg Bay and 11,8% from the Western Cape. “Historically, sales were for holiday and retirement homes,” says Ward, “but recent indications show buyers are following the trend of remote working and relocating to areas such as Plettenberg Bay for a safer and more relaxed coastal lifestyle.”
She says younger families in particular are moving away from the Gauteng region underscoring the semigration trend to the Western Cape, and in particular the Garden Route and Plettenberg Bay area. According to Ward, the residential property market in Plettenberg Bay appears to have bounced back after the setback of the Covid-19 pandemic, with surprising results.
Sales of properties valued between R4m and R5m showed a 60% increase last year. Of the properties sold, sales in gated estates and farms accounted for a total of 68,75%, indicating people are opting for secure environments and more relaxed lifestyles. Properties in the R3m to R4m price bracket were down by 37,87%. This, combined with the increase in the R4m to R5m segment could be ascribed to bracket creep (when fewer properties for sale in the lower price ranges result in buyers opting for more expensive properties).