Keurbooms Property Market Review 2018-05-24
In Keurbooms proper (main town) 10 properties transferred in 2016 for an average of R5,554,000 each or R55,540,000 in total, which was the highest for total for Keurboomstrand to date.
These figures are for full title single residential properties in the town of Keurbooms only, and does not include the outlying areas, except for The Waves to the West. Keurview, which is a share block scheme overlooking Keurbooms which is currently converting to full title ownership, is not included.
The sales prices ranged from R690,000 for a plot in the forest area to the west of the town, to R17,5million for a house in The Waves, which is the highest price in Keurboomstrand proper to date.
In 2018, 3 sales have registered so far for an average of R3,58million.
The total sales value needs to be seen in context, as the dramatic increase in average prices in 2015 and 2016, declined again somewhat in 2016. There are also not enough sales in Keurbooms to make the figures statistically significant, but they give an indication of rough trends.
In the town itself I know of three vacant plots from R1,95m to R9,5million (the latter is large development land), four houses for sale from R3,7m to R10,4million, and a resort for R27million.
The growth rate in Keurbooms over the past 20 years has been well above the national average. Unlike the national property market, Keurbooms appears to have retained most of its value. There is limited stock and therefore the number of sales is limited. The ‘semigration’ taking place in South Africa as more people move to the Western Cape is a contributing factor.
The figures above were taken from Lightstone on the 24th of May 2018. Sales below R100 000 are not included in the graphs, and duplications and non-market transactions have been removed (e.g. when a developer buys numerous properties for a single price and each is listed at the full price, only the single figure is taken or known inter-family sales are removed). Figures were drawn by transfer date, not date of sale.
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