While residential buying still dominates, agent Alet Ollemans says that there has been a notable return of Joburg and Capetonian buyers. Five years ago, there were almost no sales in Plett above the R10m price mark. In the last year though, the agent has sold eight luxury homes priced upwards of R10,2m, including two sales at R18,5m each, a R21,5m sale and the record R45m sale.
The property market has been on a gradual road to recovery in recent years, says Engelsman. Holiday makers have steadily made their return and with that the demand for holiday and second homes. Last year, about 272 property transactions worth R540m were concluded in the village, just under half of it sold by Seeff.
It has been a very successful summer season for our agents and with almost 50 sales already under the belt for the first four months, including several high value deals, we are on target to see further growth in holiday home sales this year, says Engelsman. Younger buyers are also increasingly investing in holiday homes, largely under the R1,5m price band. Since early last year, vacant plots have also started selling and while most buyers of these intend building holiday homes, many are simply investing now with the view to future capital growth, he adds.
"Prices have largely settled down and sellers are now far more inclined to negotiate - something that has contributed to the buoyant activity," says Ollemans. While there is still plenty of value to be had at the bottom to mid-sector of the market, we are now seeing a shortage of Blue Chip beachfront homes and it is an opportune time for serious sellers to get good prices.
With the Tsitsikamma Mountains as a backdrop, forests, a nature reserve, rivers, the warm Indian Ocean and three Blue Flag beaches, Plett is the popular playground of the country's well-to-do when it comes to weekend and holiday getaways. For water sport, adventure and nature lovers, it is a paradise while others can indulge in two golf courses. The village is also renowned for its top class polo fields with an almost year-round calendar of tournaments.
Devoid of the hustle and bustle of Cape Town's Atlantic Seaboard and no traffic jams, you can kick back and enjoy a laid-back coastal lifestyle here. Over school holidays for example, it is not uncommon for families to come down for weeks and a whole month in December. Many holiday home owners later retire here and, in recent years, we have seen a rise in permanent residents with many migrating here from the big cities, says Engelsman.
"It was always just a matter of time before we would see the return of holiday and investment buyers," he adds. With the recent introduction of weekly flights from Cape Town and Joburg by CemAir, Plett is now even more accessible for weekend getaways and holiday makers and of course for those who already own a holiday home here.
