The laid-back holiday town of Langebaan is becoming more popular with those looking to settle in the town permanently.
The ongoing development of the Industrial Development Zone (IDZ) in nearby Saldanha is driving sales and rentals in the beautiful seaside town of Langebaan.
"Langebaan is the preferred residential area for those working at the facility and several large companies, such as Sunrise Energy and Group Five, are already represented there," says Riaan Redelinghuys, manager: Harcourts West Coast. "There are also many subcontractors involved in the development and it is expected to continue boosting the local economy – and the property market – over the next 20 to 30 years.
He says that the town's market has changed significantly over the past 10 years. "We estimate that about 60% to 65% of homeowners are permanent residents who work in Vredenburg or Saldanha, and we expect this percentage to rise. There is still demand for holiday or weekend homes here, but most buyers are looking for primary homes, and their preference is for three- or four-bedroom freehold houses with sea views."
Private Property statistics reveal that the average price of a two-bedroom freehold property in the area is currently R950,000. A three-bedroom home will cost in the region of R1,83m and a four-bedroom property is selling for an average price of about R2,6m. The average price of a one-bedroom apartment is R740,000 and a three-bedroom unit will cost in the region of R1,3m.
Jeanette Van Dyk, area specialist: Chas Everitt West Coast, says the highest demand is currently for homes priced from R1,3m to R1,6m, as well as for lower priced houses, flats and units in Club Mykonos. For homebuilders in the town, business is starting to boom and many new units are being built on a speculative basis. She says that although there are many holiday homes available to rent, there is a shortage of well-priced properties available to those looking to settle in the area on a permanent basis. However, many sellers have become more willing to negotiate and sales are picking up steadily in the higher price ranges.
Property prices continue to rise steadily, mainly because of the “purchaser migration” from urban to rural areas. "We find that more and more city dwellers are looking for the peace and secure lifestyle of the West Coast, and are moving here permanently. Langebaan is regarded as being one of the more popular 'holiday towns', where people are finding the tranquil and more relaxing type of life they want," she says.
This article originally appeared in Neighbourhood, Sunday Times.
