Sedgefield shines amid the gloom

Sedgefield on the Garden Route is seemingly impervious to the property market downturn.

Mario Ferreira, principal of the local Chas Everitt International franchise says that properties in every category are moving well. He adds that while prices have remained essentially stable there has even been some price growth over the past six months.

Known for its luxurious properties, Sedgefield has long attracted affluent investors. The buyer mix consists of both local and foreign buyers and enquiries from overseas are on the increase. A number of cash buyers have also made an appearance of late, the majority of whom are buying properties in the R3,5m and R4m price bracket, he says.

Also popular with buyers at this time are vacant plots in security villages that are priced from the early R300 000’s on average. Fractional ownership properties are also being snapped up by those looking for their piece of the pie at prices around R300 000. Luxury beachfront properties priced at around R15m are also attracting attention.

Says Ferreira: “Sedgefield has performed remarkably well in recent months and we are fielding an increasing number of enquiries from qualified and cash buyers alike. Buyers feel that Sedgefield is one of the most stable areas to invest in at present and they know they can expect good returns on property purchases here.”

Buy-to-let investors are jumping on the bandwagon in their droves with many purchasing new properties in existing developments. According to Ferreira, this trend has gained a lot of momentum lately as proposed developments are increasingly being turned down due to environmental concerns and service bottlenecks.

Further bolstering Sedgefield’s appeal is the fact that it is a “no-go” area for industrial development, which has maintained the area’s village-like ambience. Sedgefield is also home to the longest beach on the Garden Route as well as a number of small lakes and mountains. Knysna, Plett and George are all also within easy reach and the area is fully serviced.

Article from: www.chaseveritt.com