Cape Coastal Homes Logo
You are here: Cape Coastal Homes / Latest News / Kleinmond Homes Median Prices Up By 30 During 20212

Kleinmond Homes' Median Prices Up By 30% During 2021/2

SHOWING ARTICLE 107 OF 1096
GALLERY

Kleinmond Homes' Median Prices Up By 30% During 2021/2

The Kleinmond property market has during the last 18 months benefitted from a pandemic driven housing demand surge for a work from home lifestyle in a coastal town close to a city.

Capital growth measured in median property prices has in the last 18 months increased dramatically.

  • own title houses - prices grew by 30,9% from R1 375 000 in 2020 to R1 800 000 in July 2022 at an average of 20,6% p.a.
  • sectional title houses - grew by 13,3% from R830 000 in 2020 to R940 000 in July 2022 at an average of 8,9% p.a.
  • vacant erfs - grew by 40% from R340 000 in 2020 to R475 000 in July 2022 at an average of 26,7% p.a.

Monthly Property Sales

This very high capital growth came about as property sales in Kleinmond increased in 2022 to 26,7 sales p.m. - which is about 55% higher than the pre-Covid-19 average in 2019 of 17,25 sales per month.

Kleinmond property market sales have shown considerable growth since its lowest point in 2008 when there were only 88 sales (7.3 sales per month). Total sales in 2021 was 269 properties (13 sectional title, 210 own title and 46 vacant erfs) - i.e. about 22,4 sales per month, or a month on month increase of about 207% in comparison with 2008. Total property sales registered in the Deeds Office in the 1st semester of 2022 were 160.

Buyers / Stable Owners

Kleinmond is a very popular retirement destination as it offers most of the city's conveniences but without the more impersonal lifestyle and higher crime rates retirees encounter in cities or large towns.

During the last year, 78% of the stable owners have been younger than 50-year-old, whilst 63% of the recent buyers have been younger than 50 and only 26% between 50 to 64 years old.

The biggest age group amongst all Kleinmond buyers were those investing into their future retirement property. Off all recent buyers, during the last 12 months, 44,27% were aged 50 to 64. Pensioners older than 65 formed 22,9% of recent buyers.

Property Available

Although Kleinmond's commercial infrastructure is much better developed than the 3 closest towns on the Whale Route, its median freehold property valuation of R1 550 000 is lower than Bettys Bay (R1 650 000), Pringle Bay (R2 000 000) and Rooi-Els (R2 800 000).

The undeveloped stands in Kleinmond is available from about R380 000. Plots near the Kleinmond beach are quite sought after and the prices of sea view stands range between R900 000 to R1 500 000. Larger erfs located closer towards the mountainside is available from R785 000. 

Houses near the beach prices varies on average between R2 800 000 to around R7 600 000.

Most retirees are looking to buy homes under R1 100 000. Property prices in some of the suburbs of Kleinmond starts at about R795 000 for homes in the Palmiet area, while those in the Klein Berlyn area range from about R1 999 000 to R4.95 million. In one of the newer areas, Heuningkloof, home prices start at around R2 295 000.

Sectional title property or apartments are also available from about R900 000 (2 bedrooms).

For more information about Kleinmond's property market or any property related lifestyle question about this Whale Route town, please contact our local estate agent Mima Claassen (mima@cch.co.za / 072 394 3183) or visit her at her office in the SPAR Centre in Main Road.

Mima Claassen is one of the most experienced estate agents in Kleinmond and has been selling, on average, more than 3 properties per month during 2022. She holds a 12.3 % market sale share of the whole Kleinmond property market - concluding roughly every 8th property sale in Kleinmond during 2022.

Author Benhard Wiese
Published 01 Sep 2022 / Views -
Disclaimer:  While every effort will be made to ensure that the information contained within the Cape Coastal Homes website is accurate and up to date, Cape Coastal Homes makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.