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Calypso Beach - Property Market Report 2020

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Calypso Beach - Property Market Report 2020

Calypso Beach Estate in Langebaan is a gated estate perfectly situated on the shore of Langebaan Lagoon with views of Saldanha Bay in the distance. A pathway running in front of the seafront houses is linked to various boardwalks, offering easy access to the beach.

This coupled to its proximity to Laguna Mall, the casino complex and schools have made Calypso Beach a popular estate for those buyers seeking convenience coupled with a relaxed lifestyle.

It is a fairly new estate, being only established in 2004, with the majority of plot sizes being around 350m2, which has led to a large number of the houses being multi-storey, particularly those with sea views. All the plots are privately owned and the estate is managed by a Home Owner's Association. 

2.         Calypso Beach Estate - Owner Profile / Demographics.

The average household income range in Calypso Beach Estate according to Lightstone is R40 000 to R50 000 which average places the owners in the LSM 9 High Group.

The period or tenure of ownership, which is a measure of ownership stability, shows that the existing owners who have owned property for 11 or more years are 37%. This group, and the 5-year ownership group are currently the most fluid, with the middle two groupings being more stable, when comparing with the recent sellers.

As with other estate it is interesting to note that in terms of ownership, the recent sellers with previous ownership of less than 5 years stands at a relatively high 63%, this is likely to be as a resut of profit taking and the selling of vacant lands as owners become aware and concerned of the cost of construction, causing them to cancel their building plans.

Period of Ownership

Existing Owners

Recent Sellers

11 Years and more

37%

25%

8 - 10 Years

8%

6%

5 - 7 Years

13%

6%

Less than 5 years

42%

63%

The age profile of the stable owners in Calypso Beach Estate shows that the majority of owners, 55%, fall in the mature age group, (50 - 64 years old), followed at 21% by both the middle-aged group (36 - 49 years old) and the pensioner group (65 and older).

  • Youth/Adult: (18-35 years) - 3%
  • Middle Aged: (36-49 years) - 21%
  • Mature: (50-64 years) - 55%
  • Pensioner: (65 and older) - 21%

The recent buyers' and recent sellers' age profile shows that the average age of a property owner in Calypso Beach Estate, as is the trend in Langebaan, is moving towards the middle age group. What is unusual is that there were neither sellers nor buyers in the pensioner group over the year in question.      

Comparison of recent buyers and recent sellers:                          

Age Groups

Recent Buyers

Recent Sellers

Youth/Adult 18-35

7%

10%

Middle Aged 36-49

50%

40%

Mature 50-64

43%

50%

Pensioner 65 or older

0%

0%

3.         Calypso Beach Estate - Property Types

Calypso Beach Estate has been developed with solely own title or freehold properties.

Calypso Beach Estate consists of 326 full title erven (plots) of which approximately 72% have been built on and it is expected that the estate will be almost completely built up in four to five years.

  1.            Calypso Beach Estate - Property Sales

During the 12 months from January 2020 until December 2020 a total of 7 freehold houses were sold. These 7 houses were in the following price brackets, 4 were sold for between R1 500 000 and R3 000 000 and the other 3 for more than R3 000 000.

During the same period a total of 13 vacant plots were sold, of which 12 were sold for between R400 000 and R800 000 and one sold for between R800 000 and R1 500 000.

Average & Top Freehold House Prices

  • Average house price: The 7 Houses were sold for an average price of R3 586 857. The highest price being realised was R8 350 000 with the lowest price being R1 750 000. The top three prices achieved were 11 Ithaki Close for R8 350 000, 1 Carpathos Drive for R4 000 000 and 4 Ithaki Close was sold for R3 700 000.

Average & Top Freehold Vacant Land Prices

  • Average vacant land price: The 13 vacant plots sold for an average price of R648 308. The highest price being realised was R895 000 with the lowest price being R388 000. The top 3 prices achieved were 7 Cleon Close for R895 000, 8 Ithaki Close for R765 000, and 19 Urania Road was sold for R740 000.

5.         Calypso Beach Estate - Capital Growth

Median prices and capital growth for freehold homes achieved:

  • Calypso Beach Estate's median prices for freehold homes has during the last 10 years grown from R1 300 000 in 2011 to R2 800 000 in 2020 - i.e. a growth of 115.4% over the period or a compound growth rate of 8.0% per year

Median prices and capital growth for vacant land achieved:

  • Calypso Beach Estate's median prices for vacant land has during the last 10 years grown from R235 000 in 2011 to R665 000 in 2020 - i.e. a growth of 183.0% over the period or a compound growth rate of 11.0% per year.
  1.  

Total number of registered properties as at 31 December 2020

Total Property Sales from 1 January 2020 to 31 December 2020

Suburb

Freehold Properties

Sectional Title Units

Freehold Houses sold

Sectional Title Units Sold

Vacant Land sold

Calypso Beach Estate

326

0

7

0

13

Greater Langebaan

6806

814

295

61

77

           

Sales Comparison - 1 January 2020 to 31 December 2020

Suburb

Average House Price

Average Sectional Title unit price

Average Vacant Land Price

House Price Median Growth

Sectional Title Unit Median Growth

Vacant Land Median Growth

Calypso Beach Estate

R3 586 857

0

R648 308

8.0%

0

11.0%

Greater Langebaan

R1 871 100

R1 186 100

R537 900

6.9%

4.3%

7.9%

For more information about the available properties within Calypso Beach Estate in Langebaan, please follow the link to our website.

Author Lightstone / N van den Heuvel
Published 10 Nov 2021 / Views -

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