Residential Property Market Report - Franschhoek - 13.8% Increase in Sales
Franschhoek, nestled in a picturesque valley within the Western Cape, is a world-renowned destination celebrated for its stunning vineyards, award-winning restaurants, and rich history. Its property market offers a unique blend of luxurious farm estates and quaint village homes, attracting a mix of international and local buyers. The village is surrounded by majestic mountains and is a hub for tourism, fine dining, and an exceptional lifestyle.
The residential property market in Franschhoek comprises approximately 2 409 properties. This includes 1 735 own-title houses, 564 sectional title units, and 110 vacant land erven. The village's allure and a growing trend of people relocating from larger cities contribute to a vibrant and active property market.
A comparison of the 2023 and 2024 data highlights a notable increase in market activity within the Franschhoek residential property sector. The total number of registered sales increased from 109 in 2023 to 124 in 2024, representing a 13.76% increase in sales volume. The total Rand value of these transactions also grew significantly, from R666 636 016 in 2023 to R750 391 187 in 2024. This translates to a 12.56% increase in the total market Rand value.
On a monthly basis, Franschhoek recorded according to CMAinfo an average of about 9 property sales (valued at R55.55 million) in 2023, which increased to approximately 10 properties (valued at R62.53 million) per month in 2024. The data also reveals a wide price range across the market, from high-value properties in Franschhoek Rural and Franschhoek Estate to more accessible options in areas like Groendal and Langrug.
1. Franschhoek Market Segment Analysis: Own Title, Sectional Title, and Vacant Land Sales
1.1 Own Title Market (Houses):
The own-title market, which makes up most of the housing stock, experienced a strong increase in sales volume and total transaction value.
- In 2023, 70 houses were sold for a total value of R418 791 750.
- In 2024, 88 houses were sold for a total value of R611 488 087.
This marks a 25,71% increase in the number of sales and a 46,01% increase in total Rand value for this segment. The average price per own-title house in Franschhoek saw a substantial 16.15% increase, from R5 982 739 in 2023 to R6 948 728 in 2024. This trend suggests strong demand and value appreciation, particularly in the mid-to-high-end segments.
Notable Own Title Sales (2024):
- Highest Sale Price: R32 000 000 for a property at 6 Hugenote Street, Franschhoek (Erf size: 1,670 m²).
- Lowest Sale Price: R120 000 for a property at 61 La Motte Dam, La Motte (Erf size: 398 m²).
Sales per Franschhoek Suburb (2024) - Own Title (Houses)
The own-title property market in Franschhoek showed diverse performance across its suburbs in 2024. Here is a breakdown by average sales price, ranked from highest to lowest:
- Franschhoek Rural: 6 sales totalling R118 250 000, with an average price of R19 708 333 per unit.
- Fransche Hoek Estate: 4 sales totalling R38 300,000, with an average price of R9 575 000 per unit.
- Franschhoek: 51 sales totalling R436,128,087, with an average price of R8 551 531 per unit.
- Wemmershoek: 2 sales totalling R8,125,000, with an average price of R4 062 500 per unit.
- Groendal: 6 sales totalling R4,585,000, with an average price of R764 167 per unit.
- Langrug: 10 sales totalling R4,730,000, with an average price of R473 000 per unit.
- La Motte: 9 sales totalling R1,370,000, with an average price of R152 222 per unit.
1.2 Franschhoek Sectional Title (Apartments) Sales:
The sectional title market experienced a decrease in sales volume and total transaction value in 2024.
- In 2023, 32 units were sold for a total value of R147 122 391.
- In 2024, 22 units were sold for a total value of R78 737 500.
This indicates a 31,25% decrease in the number of sales and a 46,50% decrease in total Rand value for this segment. The average price per sectional title unit in Franschhoek saw a 22,25% decrease, from R4 597 575 in 2023 to R3 578 977 in 2024. This trend suggests a higher volume of transactions in the lower-priced segments of the sectional title market during 2024.
Sales per Franschhoek Suburb (2024) - Sectional Title Units:
- Fransche Hoek Estate: 5 sales totalling R20 697 500, with an average price of R4 139 500 per unit.
- Fair Donne: 4 sales totalling R14 130 000, with an average price of R3 532 500 per unit.
- Franschhoek: 13 sales totalling R43 910 000, with an average price of R3 377 692 per unit.
1.3 Franschhoek Vacant Land (Plots) Sales:
The vacant land market saw a significant increase in sales volume in 2024.
- In 2023, 7 vacant land plots were registered for a total value of R100 721 875.
- In 2024, 14 vacant land plots were registered for a total value of R60 165 600.
This indicates a 100% increase in the number of sales. However, the total Rand value decreased by 40,27%. The average price per plot in Franschhoek saw a substantial 70,14% decrease, from R14 388 839 in 2023 to R4 297 542 in 2024. This trend suggests that a higher number of lower-priced plots were sold in 2024 compared to 2023.
Sales per Franschhoek Suburb (2024) - Vacant Land Plots:
- Franschhoek Rural: 6 sales totalling R38 950 000, with an average price of R6 491 667 per unit.
- Franschhoek: 7 sales totalling R19 545 600, with an average price of R2 792 229 per unit.
- Fair Donne: 1 sale for R1,670,000, with an average price of R1 670 000 per unit.
Conclusion
The Franschhoek residential property market showed a positive trajectory in 2024 compared to 2023, with increases in both overall sales volume and total market value. The own-title housing segment demonstrated exceptional performance, with a strong increase in both sales and average prices. While the sectional title and vacant land segments saw decreases in average prices, the vacant land market experienced a significant increase in the number of transactions, indicating strong demand for plots at more accessible price points.
Franschhoek's unique blend of rural luxury and village charm continues to underpin its appeal as a premier residential and investment destination. The market's resilience and growth, particularly in the own-title segment, reflect its status as a highly sought-after location for both permanent residents and second-home buyers.
For a comprehensive analysis of the Franschhoek property market, please contact our local Cape Winelands residential estate agents for a more in-depth discussion about your specific property needs.