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Data from the Seeff Property Group shows that the small towns and villages along the West Coast are no longer just seen as holiday or retirement destinations.

The sharp rise in property prices is mainly attributed to the growing trend of semigration and the movement of wealth into the Western Cape.

Semigration trends and the migration of wealth to the West Coast have caused home prices in Elands Bay to more than triple since 2014, with another town close behind.

The scenic fishing villages along the coast, which were once viewed primarily as vacation spots or retirement havens, are now attracting a wider range of homebuyers.

Many South Africans are now drawn to the area for the lifestyle benefits, while also taking advantage of relatively lower property prices compared to other parts of the country.

Wealth migration to the area, driven by those seeking a more relaxed lifestyle while continuing professional or business pursuits, has spurred demand for homes, especially in towns such as Langebaan, Yzerfontein, and Paternoster.

In Langebaan, for example, property prices have skyrocketed, with luxury homes now ranging from R5 million to R8 million.

The town’s proximity to business hubs like Saldanha and Vredenburg has made it attractive to professionals working in the region and those on business contracts.

This demand has resulted in over R1.3 billion in property transactions in Langebaan in the 12 months leading up to September 2024, according to Lightstone data.

Other towns along the coast, including Yzerfontein and St Helena Bay, have seen similar growth, with property values doubling in the past five years.

According to Seeff Property Group data, this trend is not limited to Elands Bay but reflects a broader pattern affecting numerous West Coast towns.

The average price of homes in Elands Bay increased from R400,000 in 2014 to R1.25 million in 2024, representing a 213% jump.

Close behind is Yzerfontein, where property prices almost tripled (196%), with the average price rising from R1.25 million to R3.1 million.

Other areas, like St Helena Bay and Paternoster, saw average house price increases of 107% and 106%, respectively.

Source: Seeff/Lightstone

Foreign buyers have also contributed to the rising demand in the Western Cape’s coastal towns.

These areas, with their iconic Cape-style architecture and untouched beaches, are not only attractive to South Africans but also to international buyers looking for vacation homes or investment properties.

The surge in property values and sales activity, especially during the property market boom of 2021 and 2022, is closely tied to this influx of both local and foreign wealth.

The rental market has also experienced significant growth. Towns like Yzerfontein and Langebaan have active rental markets, with demand exceeding supply.

Smaller properties rent for around R10,000 to R12,500 per month, while larger, three-bedroom homes can fetch between R16,000 and R24,000.

Luxury rentals in estates or upscale areas command higher prices, ranging from R25,000 to R30,000 per month.

In Paternoster, rental prices are slightly lower, with the median home price at about R1.9 million, making it more affordable for a wider range of renters.

While wealthier buyers and retirees dominate the market in some areas, younger families are drawn to more affordable towns like Saldanha, Vredenburg, and Malmesbury.

These towns tend to offer more budget-friendly properties, attracting a different demographic than the luxury markets in Langebaan or Yzerfontein.

The Western Cape, particularly the West Coast, remains a popular destination for internal migration.

According to Lightstone Property, more than 3,500 homeowners from Gauteng and nearly 900 from KwaZulu-Natal have relocated to the Western Cape, reinforcing the region’s lasting appeal.

The combination of lifestyle benefits, affordability, and growing infrastructure continues to make this coastal area a prime destination for both buyers and investors.

The small West Coast towns and villages are no longer just for holidays and retirement, as more people are moving into areas such as Langebaan, but also Yzerfontein and further afield to St Helena Bay and Elands Bay, according to agents from the Seeff Property Group.

The beautiful fishing villages, many with white-washed Cape vernacular architecture have seen a strong shift in sales activities during the market boom of 2021/1.

The migration of wealth to the West Coast is seeing prices of up to R5 million to R8 million being paid for luxury homes in Langebaan.

People working or with businesses in Saldanha and Vredenburg, as well as those who come to the West Coast for contracts and other business reasons, often prefer to settle in places such as Langebaan.

This has boosted the Langebaan property market where transactions worth over R1.3 billion were recorded for the twelve months to the end of September, according to Lightstone data.

Given the proximity to Cape Town, under two hour’s drive, Langebaan is a popular weekend getaway, and many Capetonians own homes, or rent Airbnbs. Families are also moving there, and now have access to a Curro School.

Areas like Malmesbury have benefited from the upgrades to the N7 Cape Town to Namibia Route that runs through the region.

Given that it is only about a 40-minute drive from Cape Town, many people choose to settle there and commute daily.

Lightstone data shows the West Coast property markets boomed during the 2021/2 period resulting in notable growth in median prices over the last five years, doubling in areas such as Yzerfontein and Paternoster, while areas such as Langebaan, Malmesbury and St Helena enjoyed a notable uptick.

Most towns experienced growth of 60% to as much as 107% and even 196% over the last ten years, according to the data.

Price growth over 5 and 10 years

Source: Seeff/Lightstone

Yzerfontein currently boasts the highest average transaction price of R3.1 million followed by Langebaan at R2.3 million. The West Coast is more popular with buyers and investors than ever before, according to Seeff’s agents.

Jaco and Tracey-lee Coetzee, from Seeff Langebaan say that correctly priced high-end properties are still attracting buyers. Over the last year, Seeff has sold apartments in Marina Village for R3.55 million and R3.75 million, and luxury homes in Calypso Beach for between R6.9 million and R8.8 million.

These were mostly holiday homes and apartments including a South African Expat from Canada who purchased a holiday home. The beautiful Club Mykonos remains popular.

The highest demand is now in the R1.5 million to R2.9 million range, including new developments, according to the agents.

The rental market is also very active with plenty of rentals available, according to Mariska Le Roux and Mariszka van der Linde, from Seeff Langebaan.

The average rental is between R10,000 to R12,500 for small properties, and R16,000 to R24,000 for three-bedroomed properties. Estates and high-end suburbs range from R25,000 to R30,000 per month.

The Yzerfontein market is quite seasonal and is expected to pick up again, according to Michelle Livingstone-Louw and Nelia Retief, from Seeff.

There is no less demand for high-end properties, and land in view of the high prices, and slower market. Yzerfontein Heights III though remains in demand with plots selling for R1.05 million to R1.3 million, and plot and plan packages at R3.585 million and R4.1 million for a luxury, three-bedroomed house.

Rentals are always in demand in Yzerfontein which often exceeds the supply. Rental prices range from around R12,000 (apartments) to around R30,000 at the top end for a luxury house.

Paternoster is also not priced at the higher end with a median price of R1.9 million. Saldanha, Vredenburg and Malmesbury tend to offer more affordable prices, and also attract younger buyers including families.

Buyers in Yzerfontein, Langebaan, and St Helena Bay tend to be mostly older, comprising a mix of holiday and retirement buyers.

Although a low turnover area with only about a dozen sales annually, most recent buyers (77%) in Elands Bay were over fifty.

The Cape Winelands and Boland regions have seen significant growth in recent years, with property prices now reaching upwards of R10 million to R20 million, particularly in Stellenbosch, according to local property experts.

Data from Lightstone reveals that median property prices have surged between 53% and 119% over the last 5 to 10 years, driven by increased emigration and the appeal of a peaceful, country lifestyle.

This region, including towns like Stellenbosch, Franschhoek, and Paarl, has attracted affluent buyers, especially within high-end estates such as Val de Vie and De Zalze, noted Seeff Property Group.

Young families are also drawn to the area, thanks to its proximity to prestigious schools like Paul Roos and Rhenish Girls’ High in Stellenbosch, Bridge House in Franschhoek, and Paarl Boys and Girls High Schools. Stellenbosch University is another key factor driving demand.

The region’s natural beauty, including its mountains and vineyards, along with its closeness to Cape Town, enhances its desirability. The upcoming Winelands Airport is also expected to fuel further demand for property in the area.

Stellenbosch leads the property market, with approximately R3 billion in transactions recorded over the past year (October 2023 to September 2024). Paarl follows with R1.8 billion, Franschhoek at R742 million, and Wellington at R493 million.

Franschhoek holds the highest average transaction value at R5.5 million, followed by Stellenbosch at R3.2 million and Paarl at R2 million. Property values in these towns have grown by up to 64% over the past five years and have doubled over the last decade.

Stellenbosch’s appeal lies in its Cape Dutch architecture, esteemed university, and exclusive wine estates. Upper-end neighborhoods like Brandwacht aan Rivier, De Zalze, and Welgegund Domaine Prive are particularly sought after, with properties now selling for between R8 million and R13 million, and some exceeding R20 million.

Rentals are also in demand, with students paying R6,000 to R9,000 per person for accommodation. Families tend to seek townhouses and homes priced between R15,000 and R37,500 per month.

In Paarl, factors like access to top rugby schools and its appeal to older buyers, golfers, and seasonal visitors from Europe contribute to the property market’s strength.

Popular areas include Hoog-en-Droog, Courtrai, and Boschenmeer Golf Estate, with buyers typically looking in the R3.7 million to R5.25 million range.

Rental demand is also strong, with properties in Boschenmeer and Le Parc ranging from R12,000 to R25,000 per month.

Franschhoek is known for its picturesque village charm and is one of the most expensive areas, with the majority of sales exceeding R3 million.

Homes generally sell for between R8 million and R20 million, and the demand for both short-term and long-term rentals remains high. Tenants often seek properties priced between R10,000 and R20,000 per month.

Wellington, known for its vineyards and nurseries, is a popular choice for those seeking a balance between a rural lifestyle and accessibility to Cape Town. Ceres, located about 90 minutes from Cape Town, is another emerging area, with buyers looking for homes priced between R1 million and R2.5 million.

Growth in house prices in the Cape Winelands and Boland region over the last decade.

The demand for security estates in Gauteng has surged, leading to significant value growth in these properties over the past five years.

According to the Seeff Property Group, nearly one-third of Gauteng’s property transactions last year involved estate properties. Although freehold housing remains the most common, estates have become the fastest-growing segment in the market.

Lightstone data reveals there are over 6,500 gated communities and estates across South Africa, making up about 5% of market stock and contributing to 15% of the total residential property value.

Buyers are drawn to estates for the quality of life they offer. “Security and a better quality of life are two of the most important aspirations of property buyers and tenants regarding estate living,” the company noted.

Many estates feature amenities like clubhouses, gyms, pools, retail spaces, and private schools, and some operate like mini municipalities, providing a secure, well-maintained environment.

Louise Cawood, manager for Seeff in Pecanwood Estate, highlighted the shift from weekend getaways to permanent residences in the estate, which is located about an hour from Pretoria and Johannesburg.

“Aside from excellent amenities and waterfront living, the estate has its own borehole water supply and sewerage works. It only relies on Tshwane for electricity and Madibeng for refuse removal,” she explained.

In Gauteng, about half of the country’s estates are concentrated, with estate properties accounting for 16% of all sales transactions and 28% of the total transaction value.

The majority (73%) of these sales were freehold houses, with an average price of R2.45 million, compared to R1.13 million for a standard freehold house in the province.

Estates are also popular for rentals, commanding some of the highest rates. PG van der Linde, rentals manager for Seeff Pretoria East, mentioned that estates like Woodhill Golf Estate see rates of up to R79,300 per month, with some high-end homes listed for up to R95,000 per month.

Over the past five years, freehold estate houses in Gauteng have seen a price increase of 17%, while sectional titles have risen by 21.6%.

Areas like Centurion, with estates like Midstream, and Bedfordview/Edenvale are particularly popular, with buyers ranging from locals to those returning from abroad.

Dave Ingle from Seeff Bedfordview noted that it’s a good time to buy estate properties, with excellent value options available in estates like Emerald, Thorn Valley, Bushwillow Park, and Lakeside Village.

The Sandton/Midrand area is home to about 40 estates, including some of the most exclusive and expensive in the country.

Eagle Canyon in Johannesburg North-West offers a range of homes priced from R2.2 million for sectional titles to around R5 million for freehold houses, with rental rates between R20,000 and R40,000, and up to R70,000 per month for luxury homes.

Gauteng estates with the best price growth over five years for freehold houses