Cape Coastal Homes Logo
You are here: Cape Coastal Homes / Latest News / Strand Beach Road 2023 Property Market Report

Strand Beach Road - 2023 Property Market Report

SHOWING ARTICLE 10 OF 1095
GALLERY

Strand Beach Road - 2023 Property Market Report

There are diverse lifestyle options and a broad price spectrum available for buyers and investors among the 52 apartment blocks along Strand's 3.5-kilometer-long Beach Road

Apartment sales on Strand Beach Road decreased in 2023, falling from a record 119 sales in 2022 (10 apartments per month) to 90 sales (about 8 sales per month). Despite the 24% drop, sales were still double the pre-COVID-19 2018/19 period's 4 units sold per month.

Total apartment sales in 2023 reached R206 857 000, which translates to roughly R17,2 million per month or R4 million sales per week. The average apartment sold for R2,224,268.

Strand beachfront apartments have during 2023, depending on the age, size and location of the unit, sold for between R396,000 for a unit in Peninsula Bay Hotel to R7 million for a 23rd-floor apartment in Topaz, Strand's highest building. The highest price per square meter was achieved in the Tivoli block on the Golden Mile where a 133 sq.m apartment sold for R33 647 per sq.m.

  1. Beach Road Lifestyle Offering Continuous To Improve

Strand Beach Road saw a variety of new eateries and coffee shops open in 2023. Construction of the second phase of the Strand's Boardwalk commences at the end of 2024. This project is expected to significantly enhance the value of apartments between Odeon and Peninsula Bay Hotel due to the improved lifestyle amenities it brings.

The first phase of the Boardwalk has already attracted direct investment into especially restaurants like Vamos, Kapstadt Brauhaus, Ocean Basket and New York Pizza. It has transformed how both residents and visitors utilize the beach area, and even sparked community-driven art initiatives like the Strandloper Sculpture Walk.

Adding to the convenience, a brand-new upmarket Checkers Shopping Centre is nearing completion within the next few months. Located opposite the Strand Golf Course entrance and within walking distance of the Golden Mile, this development promises to significantly benefit residents with its diverse shops and convenient location. The center incorporates historical building elements and industrial features of the Paardevlei area, including a locomotive shed and original gas lamps, creating a unique and appealing atmosphere.

  1. Apartment Sales - Pricing Tiers (Categories)

Only 1 apartment sold in 2023 for more than R5 million.

7 Apartments, or 8% of all units, sold in 2023 on Strand Beach Road for more than R4 million.

22 Apartments, or 24,4% of all the units, sold for more than R3 million.

18 Apartments, or 20% of all the units, sold between R2 million and R3 million.

50 Apartments, or 56% of all the units on Strand Beach Road, sold for less than R2 million.

Strand Beach Road price ceiling is at present between R4 million and R5 million - achievable by only the modern complexes with above average sized units. Most apartments (54%) sold for less than R2 million - as only 24,4% sold for more than R3 million.

  1. Sales Achieved in 3 Subsections Of Beach Road

For a more detailed breakdown in sales prices and prices per square meter, it is necessary to divide Beach Road in 3 different sections.

3.1    Golden Mile & Town Central Sections - Located between Cape Sands (204 Beach Road) & Strandsig (96 Beach Road):

53 Sales = R127 506 000

Average Price = R2 405 773

Average Sq.m Price = R21 645

Lowest price = R700 000 (Unit 93 [908] + 163 - ST TROPEZ / R10 769 sq.m)

Lowest /sq.m. price = R10 769 (Unit 93 [908] + 163 - ST TROPEZ)

2nd Lowest price = R814 000 (Unit 14 [208] - MONACO GARDENS)

2nd Lowest /sq.m. price = R12 698 (Unit 8, JACQUELINA HOF - 148 BEACH ROAD)

Highest Price = R7 000 000 (Unit 2301, TOPAZ - 171 BEACH ROAD / 251 + 6 sq.m / R27 888 sq.m)

Highest /sq.m price = R33 647 (Unit 9 (+Unit 19), TIVOLI - 143 BEACH ROAD / 127+6 sq.m)

2nd Highest price = R4 475 000 (Unit 9 (+Unit 19), TIVOLI - 143 BEACH ROAD / 127+6 sq.m / R33 647 sq.m)

2nd Highest /sq.m. price = R32 836 (Unit 707, HIBERNIAN TOWERS - 9 KRUGER STREET / 134 sq.m)

3.2    Van Ryneveld Section - Located between Helderberg (73 Beach Road) & Blakes Terrace (44 Beach Road) :

13 Sales = R22 020 000

Average Price = R1 693 846

Average Sq.m Price = R18 896

Lowest price = R800 000 (Unit 15 [206], HELDERBERG - 73 BEACH ROAD / 75 sq.m)

Lowest /sq.m. price = R10 667 (Unit 15 [206], HELDERBERG - 73 BEACH ROAD / 75 sq.m)

2nd Lowest price = R1 350 000 (Unit 33 [506], HELDERBERG - 73 BEACH ROAD / 75 sq.m)

2nd Lowest /sq.m. price = R18 000

Highest Price = R2 530 000 (Unit 102 [215], ODEON - 66 BEACH ROAD / 158 sq.m)

Highest /sq.m price = R25 000 (Unit 133 [1111], WELGELEGEN - 46 BEACH ROAD / 78 sq.m)

2nd Highest price = R2 190 000 (Unit 28, WELGELEGEN - 46 BEACH ROAD / 118 sq.m)

2nd Highest /sq.m. price = R23 077 (Unit 11 [10], WELGELEGEN - 46 BEACH ROAD / 78 sq.m)

3.3    Parks Estate Section - Located between Kuriaki (40 Beach Road) & Peninsula Bay Hotel (21 Beach Road):

24 Sales = R57 331 000

Average Price = R2 388 792

Average Sq.m Price = R18 886

Lowest price = R396 000 (Unit 72 [513], PENINSULA BAY - 16 BEACH ROAD / 54 sq.m)

Lowest /sq.m. price = R7 472 (Unit 72 [513], PENINSULA BAY - 16 BEACH ROAD / 54 sq.m.)

2nd Lowest price = R1 000 000 (Unit 22 [207], PENINSULA BAY - 16 BEACH ROAD / 63 sq.m)

2nd Lowest /sq.m. price = R15 108 (Unit 3, PLAZA IZABELLE - 19 Beach Road / 122 sq.m)

Highest Price = R4 200 000 (Unit 105, OCEAN VIEW - 36 BEACH STREET / 208 sq.m)

Highest /sq.m price = R29 688 (Unit 41 [311], PENINSULA BAY - 16 BEACH ROAD / 64 sq.m)

2nd Highest price = R4 000 000 (Unit 13 [401], ATLANTICA - 20 BEACH ROAD / 162 sq.m)

2nd Highest /sq.m. price = R27 228 (Unit 302, OCEAN VIEW - 36 BEACH STREET / 101 sq.m)

If you are thinking of investing into Strand Beach Road or are considering putting your apartment up for sale, contact one of the CCH member agents specializing in this market.

CCH is the largest estate agency operating in the Strand. Our member agents sell about 12% of all properties in the Strand (i.e. one of every 8 properties).

Author Benhard Wiese
Published 26 Feb 2024 / 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.