BIG BAY A THRIVING HUB FOR WATERSPORT ENTHUSIASTS
Category Property News
It is no surprise that the world record for the most kite-surfers on the water at one time was broken recently at Blouberg, with 415 people taking to the water as part of a Virgin Kitesurfing Armada organised event. This stretch of the Western Seaboard has near-perfect kite-surfing and wind surfing conditions for most of summer and many tourists as well as locals flock to the area every weekend, says Michael Bauer, general manager for South African based estate agents, IHPC.
While Big Bay is the ideal place for those who thrive on sail and surf, it is also suitable for those who work in Cape Town’s CBD, as it is on the MyCiti bus route as well as being within easy driving distance from there. Big Bay has its own attractions in terms of shopping and entertainment in the immediate vicinity as well as the neighbouring suburbs. It is a 10km drive to world-class Atlantic Beach Golf Club and there are three main beaches within 5km of Big Bay, as well as good private schools.
What is now happening, says Bauer, is that many potential buyers of property and those looking for long term rentals are looking at Big Bay as their first choice because of the lifestyle it offers. Many of the buyers here are young professionals or young couples who have active lifestyles with a need for lock-up and go apartments.
Lightstone figures indicate that the majority of residents in Big Bay are either in the 36 to 49 year old category (46% being stable owners and 44% recent buyers) and mature owners (37% stable owners and 32% recent buyers). The suburb demographics place the income group of owners in the high range and the bulk of the activity in the property market is either in secure estates or sectional title schemes.
It’s interesting to see how this area compares price-wise with the Atlantic Seaboard, said Bauer, as Big Bay is most definitely still one of the suburbs that offers value for money in some of the new units that have come on stream just adjacent to the Eden on the Bay mixed use development.
Units here can be found at prices from R1,3 million for a one bedroom apartment to R3,3 million for a three bedroom apartment with sea views, whereas if one were to look at the Atlantic Seaboard for similar, the price tag would be at least R10 million for a three bedroom apartment with views.
Rentals are fairly reasonably priced at Big Bay, he said, with one bedroom apartments renting out at approximately R7 500 per month to R9 000 per month and two bedroom apartments renting for R13 000 to R16 000 per month.
For an area with a beachfront access and many restaurants, shopping convenience and generous off-street parking, this is an area that is fast becoming the place to be when it comes to water sports and contemporary apartment living, said Bauer.
Author: IHPC
