Knysna property market starting to hum
As the Knysna property market gears up for the holiday season, the news from the principal of the CENTURY 21 Prestige office in the town, Theresa Marais, is that “things are humming”.

An upbeat Marais says the home sales tempo has picked up strongly since June, suggesting that a real turnaround is occurring.

“And if demand continues to improve, as I believe it will, there is now just a brief window of opportunity for buyers to acquire a Knysna property before prices harden.”

To put this into perspective, she estimates that current prices in most categories of property in the area are still about 30% below those at the height of the recent property boom, so for the moment it is still a buyer’s market.

“Indeed we are still seeing 2006 prices now, but we believe that’s going to change fast and that in about six to nine months time, a seller’s market may have arrived in this neck of the woods again, with values rising as demand once again starts to outstrip supply.

“Meanwhile, Knysna remains an attractive area for homebuyers across the spectrum, and we find that buyers are particularly pleased at current entry level prices with for, instance, townhouses on our books available at around R969 000 while a new development for which we have the mandate is coming on stream shortly and will offer exceptional value at around R500 000 a unit.”

Retirement village unit prices start around R1,8m (surprisingly, there are only two retirement villages in Knysna) and conventional freehold properties start at around R900 000. Homes in exclusive estates such as Pezula start at around R3,2m and those on Thesen Island at around R2,6m.

Article from: www.century21.co.za