New buyers steady Robertson market

The property market in Robertson in the Western Cape’s scenic Breede River wine valley is steering a steady course thanks to new entrants in the residential sector.

“These entrants include young people working in town, retirees from Gauteng, KZN and Cape Town, as well as overseas investors who are attracted by the quiet rural lifestyle and the quaint architecture that characterises Robertson,” says Johan Gous of the local Aida real estate office.

“The local market is slowly but surely regaining momentum after a period in which relatively high prices decreased steadily,” he says. “Average homes that were selling a few months ago at between R800 000 and R900 000 are now available at prices of between R680 000 and R800 000, which has stimulated new demand.

“And there is still an extremely high demand for homes in the price range between R450 000 and R650 000 but stock in this range is very limited.”

Most buyers are settling for units in the R680 000 to R800 000 range, he says, although retirees are most active in the range between R700 000 and R950 000. And overseas buyers are targeting properties with price tags of up to R1,2m.

Commercial development recently has included the opening of a new mini mall in the town at the end of last year. Several national retail and food chains have taken up space in this development, which goes a long way towards catering for residents’ shopping needs, Gous says.

Robertson, known for its locally produced, organic wines, is also making a name for itself as an olive-growing hub with a number of new olive farms being established. Several wine routes and wine festivals, such as Whacky Wine and Wine on the River, are popular among tourists and visitors.

Water sports, bird watching, nature walks and spectacular mountain views add to Robertson’s charm and attract new residents, especially retirees and lifestyle buyers. The town itself is known for its tree-lined avenues, well-tended gardens and abundant vineyards.

Gous adds that the 18-hole golf course at the nearby Silverstrand Golf Estate has widened the town’s appeal. “The course was opened about a year ago and enjoys a picturesque setting on the banks of the Breede River. Prices of residential units in the development also compare very favourably to other golf developments around the country,” he says.

Article by: www.aida.co.za