Montagu property prices luring getaway home buyers
Property buyers are capitalising on the growing demand for getaway and retirement properties in the rural districts of the Western Cape, and they see Montagu as one of the most beautiful and attractive of all the Boland towns.
Montagu is particularly appealing to buyers because it has a quiet historic ambience with characterful, genuinely Victorian homes and Karoo cottages, the latter usually with mono pitched or flat roofs, white walls and parapets, says Van Wyk.
This is according to Johanna van Wyk and Andre van Niekerk, the Rawson Property Group’s co-franchisees for Robertson, Worcester and associated areas. All the indicators point to a steadily growing interest in these types of property, says Van Wyk.
She says it is noteworthy that a steadily increasing proportion of these buyers, about 35% at present, are coming from Gauteng, the Free State, KwaZulu-Natal, and even the Northern Cape and Limpopo.
“There is something about the Cape which always seems to draw in people from elsewhere.”
Montagu is particularly appealing to buyers because it has a quiet, historic ambience with characterful, genuinely Victorian homes and Karoo cottages, the latter usually with mono pitched or flat roofs, white walls and parapets, says Van Wyk.
This three bedroom, two bathroom home for sale in Montagu has a lounge with a braai and French sliding doors leading to the patio. The property’s garden has an irrigation system and pomegranate, almond, lemon and orange trees. It is selling for R1.015 million - click here to view.
Also, she says very few Cape towns have more magnificent scenery. The town is almost encircled by mountains, offering some of the best walking trails, abseiling and rock climbing in South Africa.
In addition, Van Wyk says Montague has an exceptionally healthy and bracing climate with hot summers and temperate winters, during which temperatures can plummet at night. However, byCape Peninsula standards, the rainfall is limited, seldom being more than 200mm per annum.
Also very much in Montagu’s favour is its beautiful farmland surroundings, particularly those in the Koo and Keisie valleys where the fruit trees will soon be in full blossom, says Van Wyk.
“Added to all these bonus points is that Montagu is now the gateway to Route 62, a recognised grade one tourist route attracting more and more visitors every year.”
How does all this impact on the residential property market?
Van Wyk says the good news for buyers is that prices have been quite stable for several years. There are 1 700 freehold and 60 sectional title units in Montague, and at any given stage, some 5% of these will be up for sale.
This two bedroom, three bathroom house selling in Montagu has been renovated, and has lovely mountain views. The property has a braai room, swimming pool and small, low maintenance garden. The home is on sale for R1.85 million - click here to view.
“By far the strongest demand is in the ‘affordable’ R500 000 to R1.4 million bracket. Smallholdings, for which there is always a strong demand, can also be had within the price range of up to R4 million.”
Currently, she says there is a shortage of stock in this particular price range, and any correctly priced home will sell in approximately three to four weeks.
If buyers choose to rent out their properties, Van Wyk says they will get about R4 000 per month for a typical family home, but they expect prices of up to R7 000 to R8 000 to be achieved for some of the more upmarket, well-maintained central town properties in the upcoming year.
However, will the low prices continue for the foreseeable future?
This 69ha guest farm is set in the heart of the Koo Valley, approximately a 20 minute drive from Montagu. The original farmhouse built in 1912 has been renovated to include two guest suites, in addition to its two bedrooms and two bathrooms. The property is selling for R4.2 million - click here to view.
“As I see it, the steadily increasing number of enquiries must inevitably start causing price rises. Although we aren’t seeing these at the moment, I believe these are inevitable in the next two to three years,” says Van Wyk.
She says what is certainly true of this area is that retirees can, after selling a typical middle class home in the big cities, find themselves able to buy a very satisfactory property here, and still have a small cash nest egg to invest.
“It is this fact, along with the magnificent surroundings, which continues to drive people to this area, and from my own experience, I can testify that once people have settled here, they are always extremely reluctant to leave.”