Growth in Jeffreys Bay Property Market - 12-25-08

December 25 - When South Africans want to enjoy the beauty of nature reserves, the excitement of action and water sports and the charm of quaint coffee shops and craft markets, many traditionally head to Jeffrey's Bay for a break.

Jeffrey's Bay is perhaps best known for its annual surfing championships that attracts thousands who come and watch the surfboard action.

However, local property experts are noting an interesting trend - that of potential buyers seeking out homes in Jeffrey's Bay to make their move a permanent one.

The manager of the Jeffrey's Bay Chas Everitt International franchise, Susan van Tonder, said that buyers are taking advantage of the bargains that are to be found in the current property market, and are seeking out properties to purchase. Sellers, some desperate to get rid of their properties for financial reasons, are meeting these buyers halfway and are being very flexible with their asking prices.

The most popular price range for properties at the moment is anything between R1.6 million and R2.6 million, with many of today's buyers coming into the market with cash.

All types of property in 'J-Bay' are being eyed by potential buyers, ranging from sectional title properties (R600,000 to R3 million), gold course stands (R400,000) and lucrative beach front properties (around R1.8 million).

Another niche in the Jeffrey's Bay property market currently being filled is that for the retirement sector. Frail care medical facilities and a community center are among the plans for a new development project in the area.