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.
| Town | Avg. price 2014 | Avg. price 2024 | % price increase |
| Elands Bay | R400,000 | R1.25 million | +213% |
| Yzerfontein | R1.25 million | R3.1 million | +196% |
| St Helena Bay | R724,000 | R1.5 million | +107% |
| Paternoster | R920,000 | R1.9 million | +106% |
| Langebaan | R1.3 million | R2.3 million | +76% |
| Malmesbury | R850,000 | R1.4 million | +65% |
| Vredenburg | R520,000 | R837,000 | +61% |
| Darling | R750,000 | R1.2 million | +60% |
| Saldanha | R570,000 | R827,000 | +45% |
| Lambert’s Bay | R849,000 | R1.1 million | +30% |
| Average: | – | – | +96% |
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.
