As outsiders invade Simonstown; residential property owners are laughing all the way to the bank.
Apr 26th, 2007 by Johan
[Members Only Page] It is amazing to think that Simon’s Town is the most popular False Bay area when it comes to outside or foreign buyers.
Let me introduce you to some of the latest Simon’s Town property trends.
- Did you know that Simon’s Town gets a premium of 27% on residential properties when compared to False Bay? And the selling prices are on the increase in Simon’s Town.
- The volume of properties sold in Simon’s Town is not increasing, and why is it so different from the massive growth in the rest of False Bay? See graph below.
- Do you have any idea of what your Simon’s Town home is worth today? Use the average trend graph of homes sold in your Simon’s Town area to get and idea.
- From 2005 the time to sell a property has more than doubled. Why does it take so long?
The volume growth in Simon”s Town does is non-existent when compared to the massive growth in False Bay.
During the last few months the False Bay volume of full title residential sales increased by 25% compared while there was no growth in Simon’s Town.
What do you think is the reason for this difference? Is it the number of the new homes or the affordability of homes being built in the greater False Bay area?
Do you have any idea of what your Simon’s Town property is worth today?
We all know that the buyer is the person who will tell us the value of our property. If you want to be spot on without consulting the buyers in the current market what do you do? You take the value of what buyers paid for properties in your street, suburb and town to calculate and estimate your property value.
Properties in Simon’s Town sell for between R9 000 and R11 000 per square meter of build-up area. A 200 square meters home will sell today for between R1.8 million and R2.2 million depending on the esthetical value and on factors like proximity of the beach, view and personal preference.
These are broad figures for Simonstown and we can provide you with more specific figures for your street or suburb. It’s a free service to our members.
Why is the number of days to sell property in Simon’s Town so high?
It takes more than 100 days – this is a fundamental flaw in the way agents and property owners approach selling of property. See this article for more info on why……
Johan Horak
P.S. I’ll rather turn you down today than let you down tomorrow.
P.P.S. If you need advice on Simon’s Town properties call me now at 086 026 33 33.
P.P.P.S. If you cringe as much as I do at my sloppy spelling please complain here at my central cringe pot. I apologise in advance and will correct it and try harder.  If you like what I do please use the space below and tell me…..thanksÂ
