The Muizenberg area, emerging steadily from crime and grime thanks to the efforts of active residents, is enjoying a new lease of life - and being discovered by foreign buyers.
Pam Golding's area manager, Glendyr Dade, says the market is buoyant. Whatever goes on sale is being snapped up quickly and the group is regularly achieving top prices in the area, she says.
"We have a real spread of buyers," says Dade, "ranging from long-term investors looking for holiday homes or retirement options, to young families buying the smaller, well-priced homes on offer in Muizenberg.
"And then there are the foreign buyers, who are spending more in this area every month. They find it offers an attractive coastal setting at good value for money."
The beauty of Muizenberg is in its variety of housing choices - recent prices have ranged from as little as R250 000 to R1.3 million for homes, ranging from small cottages or apartments to a large Victorian villa.
Properties set on the mountainside offer the bonus of stunning views over the lake and ocean.
Dade says the renewed interest is doing wonders for the sense of community spirit in the town.
"Local residents are proud to see their town in such demand, so it has really restored the dignity of the area."
New shopping centres, business parks and upmarket schools have also breathed new life into Muizenberg, as have redevelopment and refurbishment of several of the historic buildings.
The town is also in growing demand as a setting for film shoots.
Its long sweep of coastline and warm and vibrant community have been chosen as the perfect cast and location for several international ad shoots and feature films last summer.
Errol King, Rawson Properties franchisee for Muizenberg, said the suburb still offered excellent value for money.
"We have just sold a plot on Baden Powell Drive on the beachfront for R160 000.
When you consider that plots in Lakeside go for R500 000 and in Plumstead for R240 000, this is very cheap," King said.
He said an American buyer had just bought a "massive" flat on the top floor of an old three-storey block, one road back from the coast road, for R445 000, with sea and mountain views from every room.
The healthy demand for houses in the area was a sign that efforts to clean up Muizenberg were starting to pay off.
"The local authorities and MP Ben Turok, in particular, are making a special effort and you can see that residents are beginning to take a pride in their suburb."
But King said acquiring new stock remained a problem for agents working in Muizenberg.
He said in rand value, sales of houses in Lakeside in the past six months had totalled more than those in Muizenberg and Marina da Gama combined.
In the past half-year, he said, houses with a value of R9.9m had been sold in Muizenberg and R7.3m in Marina da Gama - against R20.5m in Lakeside.
"Perhaps owners in Muizenberg are waiting for the market to turn the corner before they make a move, and the signs are that this could happen soon," he added. - Cape Argus Network
Publisher: Cape Argus
Source: Cape Argus
