Strand Beach Road Property Market - 2020 Property Sales Report
- Effect of Covid-19 Lockdown on Strand Beach Road Sales
Apartment sales on Strand Beach Road has shrunk to 51 sales during 2020 - which relays to about 4 beachfront apartment sales on average per month.
According to CMAinfo, there were 187 sectional title sales in total in the Strand during 2020 at an average price of R1 002 655.
21 Sales on Strand Beach Road were registered before 26 March 2020 - the start of level 5 lockdown - which is about 7 sales per month. Since the start of level 3 (1 June 2020) until the end of 2020, only 27 apartment were registered - which relays to a drop of about 60% in registrations to about 3 apartments per month.
In the period 2018/9, there were about 49 apartment sales for a 12 month period which relays to about 4 units per month. Covid-19 therefor not only halted the 75% increase in sales volumes achieved during early 2020, but cut it by about 25% relative to 2018/9 monthly sales volumes.
Strand Beach Road apartments are located in 3 distinct areas:
- Golden Mile (along Melkbaai beach from the Lourens River - which includes all apartment blocks from Cisterama to Hibernian Towers on Sarel Cilliers Street)
- Town Central (apartment blocks from Kusweg 121 to Odeon)
- Platinum Mile (along Blakes Beach towards Greenways Golf Estate - apartment blocks from De Merindol to Peninsula Bay)
Golden Mile - Apartment Sales:
27 Apartments sold during 2020 on the Golden Mile. The highest sales price achieved in 2020 was in Topaz (R4,27 million - 155 sq.m @ R27 548/sq.m - the sales transaction was brokered by CCH's sales associate, Hennie van Heerden.
The highest price per sq.m was in Cape Sands (R30 769/sq.m - 130sq.m @ R4 000 000) - up from R27 747/sq.m achieved during 2018 for 91sq.m @ R2 525 000 .
The lowest sales price achieved for apartments - and one only 3 apartments on Strand Beach Road selling for less than R1 million was in Kohi-Noor : R900 000 / 63 sq.m / R9 375 per sq.m).
The lowest price per sq.m was also achieved in Kohi-noor - an apartment which sold for R9 375/sq.m. The only other transaction with a price/sq.m achieved of less than R12 000 was at Monaco Gardens - 170 sq.m which sold for R2 200 000 @ R11 111 / sq.m.
Town Central - Apartment Sales:
8 Apartments sold during 2020 along the central part of Beach Road. The highest sales price achieved in 2020 was in Metropole Plaza (R1,99 million - 113 sq.m @ R16 179 per sq.m.
The highest price per sq.m was in Grasso (R17 368 per sq.m - 53 sq.m @ R4 000 000)
The lowest sales price achieved for apartments was also in Grasso : R875 000 / 53 sq.m / R16 509 per sq.m.
Platinum Mile - Apartment Sales:
17 Apartments sold during 2020 along Platinum Mile section Strand's Beach Road. The highest sales price achieved in 2020 was in Blake's Terrace (R1,9 million - 123 sq.m @ R13 380 per sq.m.
The highest price per sq.m was in Odeon (R19 817 per sq.m - 82 sq.m @ R1 400 000)
The lowest sales price achieved for apartments was in Helderberg apartments : R640 000 / 63 sq.m / R10 159 per sq.m.
- Record Price Achieved On Strand Beach Road - Early 2021:
CCH's member agent, Hennie van Heerden, who specializing in Strand beachfront properties, has just sold the Penthouse in Kuriaki for a record amount of R11 million - the highest sales price ever achieved on Strand Beach Road for any apartment.
This augers well for the Strand Beach Road apartments - which has for a long time been selling, relative to the rest of Cape Town beach front sectional title market, for prices which we believe to be below its real market value given the lifestyle offering of the Helderberg area.