Coastal properties continue to be highly sought after for holiday homes and Airbnb investments, reports the Seeff Property Group.
According to recent data from Lightstone, transactions in coastal towns have surpassed those in metropolitan areas over the past year.
Additionally, buyers are spending, on average, 25% more on coastal properties compared to those in the cities.
Samuel Seeff, chairperson of the Seeff Property Group, highlights that with more than 48 Blue Flag beaches and marinas, a favourable climate, and excellent amenities, coastal towns have become increasingly popular among buyers from various regions.
International buyers also find these locations more affordable than many overseas vacation spots.
Notable areas such as Plettenberg Bay, which saw a record sale of R78 million this year, along with Hermanus, Gansbaai, Langebaan, and St Helena Bay in the Cape, have been top performers.
In addition, hot spots in the Eastern Cape, as well as areas like Margate, Salt Rock, and Umhlanga in KwaZulu-Natal, continue to attract significant interest.
Seeff notes that the movement of wealth towards coastal regions is part of a larger trend. Data from New World Wealth shows that affluent buyers are particularly drawn to areas like Clifton, Camps Bay, False Bay, Hermanus, Langebaan, Plettenberg Bay on the Garden Route, as well as Umhlanga and Ballito on the KZN coast.
