Strand Residential Property Market: A Resilient 2024

Strand Residential Property Market: A Resilient 2024

Nestled within the scenic Helderberg region of the Cape Town Municipality, Strand's enduring appeal has allowed it to largely defy the national slowdown experienced in the past two years due to higher interest rates and affordability concerns. This resilience underscores the town's strong allure for both local and international buyers, drawn to its picturesque coastal setting, well-developed infrastructure, and a wide array of amenities fostering a comfortable and vibrant lifestyle.

The residential property market in Strand and its diverse suburbs demonstrated remarkable stability and growth in 2024, with total sales reaching R1,219 billion. This figure, compiled from CMAinfo sales data for Strand, indicates a significant 8.9% increase (or about R100 million more)  in Rand value sales compared to the R1,119 billion recorded in 2023, despite only 1,7% or 13 more properties sold during 2024 (772 sales)  relative to 2023 (759).

A key characteristic of Strand's property market is the shortage of vacant land (plots) opportunities and the balanced demand for both freehold (own title) and sectional title properties. The increasing popularity of sectional title living, driven by affordability and lifestyle preferences, particularly among younger buyers, continues to shape this trend.

1. Strand Freehold Houses: Robust Capital Growth in Key Suburbs

The big demand for freestanding homes remained constant in Strand with 403 properties sold in 2024, compared to 399 at an average of 33,6 sales per month in 2023. The average price for an own title property sold in Strand in 2024 is approximately R 1 773 425 (R 714 690 344 / 403). This is a significant increase from the average price of around R 1 574 365 (R 628 171 613 / 399) in 2023, highlighting a strengthening of property values in this segment.

1.1       Strand Suburban Own Title (Freehold) Performance in 2024:

A robust demand has fuelled significant capital growth in the Strand house market, with sought-after suburbs like Strand North and Strand Central witnessing an impressive 34,8% growth in average prices over the past three years, rising on average by 11,6% per year from R1.88 million in 2021 to R2,535 million in 2024. Properties closer to the beachfront and the more sought-after streets of Strand North, commanded prices ranging between R3,5 million and R5 million.

Goede Hoop, situated near the Lourens River and just north of Broadway Boulevard, also proved to be a desirable area, with average freehold home prices reaching approximately R3,035 million.

Van Ryneveld, identified as offering "best value for money," has seen a significant wave of renovations in recent years. This older suburb's unique charm is aided by its proximity to the beach. The second phase of the Strand promenade, which is at presented in construction to be finished in 2026, will undoubtedly enhanced offerings along Beach Road. The new Checkers Food Store at Strand’s Circle on Beach Road, and a variety of new eateries and coffee shops, will be driving house price appreciation in Van Ryneveld due to its improved lifestyle offering up from the average price of R2,4 million achieved in 2024.

In the prestigious Greenways Golf Estate, the average freehold property price increased to R5,426 million, with homes in the smaller Village Green section averaging about R3,5 million (although the biggest house in Village Green was sold by CCH member agent (Johan Botma) for a record R6,35 million.

Other well-priced suburbs for freehold homes include Strandvale (average R2,17 million) and Onverwacht (R1,88 million).

1.2       Highest and lowest own title sales in each Strand suburb for 2024:

·  ASANDA  (2 871 houses in suburb / 21 sales during 2024):

• Highest: 297 Mgidlana Street sold for R 650 000 (40 sq.m erf of 200 sq.m at R 3 250 per sq.m).
• Lowest: 102 Skoji Street sold for R 52 000 (20 sq.m erf of 140 sq.m at R 371 per sq.m).

·  BROADLANDS PARK (988 houses in suburb / 15 sales during 2024):

• Highest: 29 Petunia Avenue sold for R 450 000 (57 sq.m erf of 158 sq.m at R 2 848 per sq.m).
• Lowest: 8 Arend Way sold for R 3 000 (20 sq.m erf of 160 sq.m at R 19 per sq.m). This extraordinarily low price likely indicates a transfer of ownership for reasons other than a typical market sale.

·  BROADLANDS VILLAGE  (705 houses in suburb / 26 sales during 2024):

• Highest: 80 Seventeenth Street sold for R 1 200 000 (63 sq.m erf of 293 sq.m at R 4 096 per sq.m).
• Lowest: 18 Fifteenth Street sold for R 495 625 (48 sq.m erf of 248 sq.m at R 1 998 per sq.m).

·  GOEDE HOOP (233 houses in suburb / 7 sales during 2024):

• Highest: 27 Bosman Street sold for R 4 145 000 (282 sq.m erf of 766 sq.m at R 5 411 per sq.m).
• Lowest: 9 Serbastian Close sold for R 1 600 000 (93 sq.m erf of 252 sq.m at R 6 349 per sq.m).

·  GREENWAYS (251 houses in suburb / 9 sales during 2024):

• Highest: 2 St Andrews Drive sold for R 11 000 000 (594 sq.m erf of 842 sq.m at R 13 064 per sq.m). This reflects the high-end properties available in this area.
• Lowest: 15 Turnburry Close sold for R 950 000 (136 sq.m erf of 557 sq.m at R 1 706 per sq.m). This extraordinarily low price likely indicates a transfer of ownership for reasons other than a typical market sale.

·  GULDENLAND (343 houses in suburb / 30 sales during 2024):

• Highest: 14 Strand Mews sold for R 1 850 000 (78 sq.m erf of 306 sq.m at R 6,046 per sq.m).
• Lowest: 19 Strand Mews sold for R 650 000 (60 sq.m erf of 161 sq.m at R 4,037 per sq.m).

·  GUSTROW (924 houses in suburb / 11 sales during 2024):

• Highest: 11 Katonkel Street sold for R 2 000 000 (257 sq.m erf of 496 sq.m at R 4,032 per sq.m).
• Lowest: 42 Johanna Presence Street sold for R 70 919 (69 sq.m erf of 275 sq.m at R 258 per sq.m). The low price here also suggests a unique circumstance.

·  LWANDLE  (2 271 houses in suburb / 7 sales during 2024):

• Highest: 71 Nonqubela Street sold for R 335 000 (30 sq.m erf of 152 sq.m at R 2,204 per sq.m).
• Lowest: 4 Nomasabatha Street sold for R 24 724 (98 sq.m erf of 252 sq.m). The low price here also suggests a unique circumstance.

·  NOMZAMO ((2 688 houses in suburb / 21 sales during 2024):

• Highest: 90 Tyawe Street sold for R 650 000 (50 sq.m erf of 173 sq.m at R 3 757 per sq.m).
• Lowest: 23 Manengele Street sold for R 16 050 (21 sq.m erf of 173 sq.m at R 93 per sq.m).

·  ONVERWACHT STRAND  (911 houses in suburb / 41 sales during 2024):

• Highest: 18 Elim Street sold for R 2 700 000 (250 sq.m erf of 1 492 sq.m at R 1 810 per sq.m).
• Lowest: 9 Deiningdal Crescent sold for R 927 500 (125 sq.m erf of 275 sq.m at R 3 373 per sq.m).

·  PARKS ESTATE (41 houses in suburb / 0 sales during 2024): 

·  RUSTHOF (1153 houses in suburb / 13 sales during 2024):

• Highest: 13 Forbes Street sold for R 1 800 000 (249 sq.m erf of 476 sq.m at R 3 782 per sq.m).
• Lowest: 104 Seventh Street sold for R 150 000 (61 sq.m erf of 372 sq.m at R 403 per sq.m). This low price could indicate a property requiring significant work or a specific circumstance.

·  SECOR PARK  (839 houses in suburb / 11 sales during 2024):

• Highest: 12 Jasmin Street sold for R 1 100 000 (120 sq.m erf of 299 sq.m at R 3,679 per sq.m).
• Lowest: 12 Nazli Crescent sold for R 100 000 (49 sq.m erf of 160 sq.m at R 625 per sq.m). This low price might suggest a property in need of substantial renovation or other influencing factors.

·  SOUTHFORK  (328 houses in suburb / 5 sales during 2024):

• Highest: 10 Dallas Crescent sold for R 2 550 000 (280 sq.m erf of 450 sq.m at R 5,667 per sq.m).
• Lowest: 43 Asbijan Fanie Street sold for R 1 350 000 (149 sq.m erf of 444 sq.m at R 3,041 per sq.m).

·  STRAND (North and Central) (3 465 houses in suburb / 155 sales during 2024):

• Highest: 130 Beach Road sold for R 8,500,000 (530 sq.m erf of 967 sq.m at R 8,790 per sq.m). This prime location commands a premium.
• Lowest: 32 Sarel Cilliers Street sold for R 500,000 (128 sq.m erf of 489 sq.m at R 1,022 per sq.m). The low price here also suggests a unique circumstance.

·  STRANDVALE  (241 houses in suburb / 12 sales during 2024):

• Highest: 17 Algoa Street sold for R 2 950 000 (201 sq.m erf of 1 292 sq.m at R 2 283 per sq.m).
• Lowest: 55 Aerodrome Road sold for R 1 650 000 (erf of 651 sq.m at R 2 535 per sq.m).

·  VAN RYNEVELD (167 houses in suburb / 11 sales during 2024):

• Highest: 56 Beach Road sold for R 5 000 000 (202 sq.m erf of 357 sq.m at R 14 006 per sq.m). Beachfront properties fetch high values.
• Lowest: 19 Alex Pienaar Street sold for R 1 450 000 (146 sq.m erf of 353 sq.m at R 4 108 per sq.m).

·  WELTEVREDEN (390 houses in suburb / 8 sales during 2024):

• Highest: 3 Nolte Street sold for R 1 900 000 (101 sq.m erf of 496 sq.m at R 3 831 per sq.m).
• Lowest: 27 Brewery Road sold for R 670 000 (74 sq.m erf of 496 sq.m at R 1 351 per sq.m).

2. Apartments: Resilient Sales in the Sectional Title Market

CMAinfo data reveals a slight increase in the number of sectional title sales in Strand in 2024 compared to 2023. In 2024, there were 345 sectional title sales with a total value of R 474 950 770. This is a marginal increase from the 341 sales recorded in 2023 (total value of R 477 487 475). The average price for a sectional title unit sold in Strand in 2024 stands at approximately R 1 376 670 (R 474 950 770 / 345). This is slightly lower than the average price in 2023, which was around R 1 400 256 (R 477,487,475 / 341).

Strand Beach Road boasts 52 sea-facing apartment blocks, offering a wide spectrum of choices priced between R12 500 and R36 496 per square meter, depending on factors such as age, size, views, and finishes. The highest-priced apartment sold on Beach Road was a 215 sq.m unit in Odeon (unit 1202) on the Platinum Mile for R5,1 million, equating to R23 721 per sq.m. On the Golden Mile (part of Melkbaai beach), the most expensive apartment sold in Topaz (Unit 1502) for R5 million (137 sq.m at R36 496 per sq.m).

For buyers seeking more affordable options, suburbs further inland such as Onverwacht, Guldenland, Kleinbos (Rome), and Twin Palms offer a variety of apartments ranging from approximately R600 000 to R1 800 000.

2.1       Strand Suburban Sectional Title Performance in 2024:

The highest and lowest sectional title sales in each Strand suburb for 2024:

• GEORGE PARK (60 sectional title units in suburb / 5 sales during 2024):

                Highest: Unit 57 Little Greece sold for R 725 000 (81 sq.m at R 8 951 per sq.m).

           Lowest: Unit 39 Little Greece sold for R 490 000 (36 sq.m at R 13 611 per sq.m).

• GOEDE HOOP (23 sectional title units in suburb / 0 sales during 2024): 

• GREENWAYS  (518 sectional title units in suburb / 25 sales during 2024):

Highest: Unit 187 [C217] & 221 & 213 Emerald Bay reached R 4 300 000 (363 sq.m at R 11 846 per sq.m). This appears to be a combined sale of multiple units.

Lowest: Unit 37 [K51] Laguna Beach sold for R 1 050 000 (43 sq.m at R 24 419 per sq.m).

• GULDENLAND  (339 sectional title units in suburb / 29 sales during 2024):

Highest: Unit 6 Villa Castello sold for R 850 000 (60 sq.m at R 14 167 per sq.m).

Lowest: Unit 17 Strand Close 1 sold for R 475 000 (43 sq.m at R 11 047 per sq.m).

• ONVERWACHT STRAND (201 sectional title units in suburb / 12 sales during 2024):

Highest: Unit 2 Keurbosch achieved R 1 800 000 (167 sq.m at R 10 778 per sq.m).

Lowest: Unit 6 [2] La Playa sold for R 650 000 (37 sq.m at R 17 568 per sq.m).

• PARKS ESTATE (501 sectional title units in suburb / 21 sales during 2024):

Highest: 20 Beach Road fetched R 4 400 000 (207 sq.m at R 21 256 per sq.m).

Lowest: Unit 54 [B303] Maranel sold for R 341 533 (73 sq.m at R 4 679 per sq.m). This appears to be an exceptionally low price, potentially indicating a unique circumstance. 

• RUSTHOF  (4 sectional title units in suburb / 4 sales during 2024):

Highest: Unit 1 Dinero, 48 Second Street sold for R 1 495 000 (105 sq.m at R 14 238 per sq.m).

Lowest: Unit 1 23 On Third sold for R 1 300 000 (126 sq.m at R 10 317 per sq.m).

• SOUTHFORK  (20 sectional title units in suburb / 2 sales during 2024):

Highest: Unit 2 15 Houston Place sold for R 955 000 (57 sq.m at R 16 754 per sq.m).

Lowest: Unit 10 [9] Graison Place sold for R 480 000 (44 sq.m at R 10 909 per sq.m).

• STRAND (North & Central)  (3 683 sectional title units in suburb / 206 sales during 2024):

Highest: Unit 1502 Topaz reached R 5 000 000 (137 sq.m at R 36 496 per sq.m). This highlights the premium prices achievable for well-located apartments with desirable features.

Lowest: Unit 12 Green Acre Terraces sold for R 455 000 (58 sq.m at R 7 845 per sq.m).

• VAN RYNEVELD  (672 sectional title units in suburb / 41 sales during 2024):

Highest: Unit 84 [1202] Odeon sold for R 5 100 000 (215 sq.m at R 23 721 per sq.m). This also indicates high-value sectional title properties in this area.

Lowest: Unit 11 Lanquedoc sold for R 600 000 (81 sq.m at R 7 407 per sq.m).

• WELTEVREDEN  (41 sectional title units in suburb / 0 sales during 2024):

2.2       Conclusion:

The highest value sectional title sales are concentrated in areas like Greenways and Strand Beach Road while the lowest entry points can be found in suburbs like Guldenland, Parks Estate, Southfork, Van Ryneveld and Onverwacht. Understanding the nuances within each suburb, as reflected in their highest and lowest sales and average prices per square meter, is crucial for both buyers and sellers looking to navigate the Strand property market. 

3. Vacant Land Sales

In 2024, there have been 24 vacant land sales in the Strand, totalling R 29 732 050 in comparison with 15 sales during 2023 (R 13 575 000).

The average price for a vacant land erf sold in Strand in 2024 is approximately R 1 238 835 (R 29,732,050 / 24). This is a substantial increase from the average price of around R 905 000 (R 13 575 000 / 15) in 2023.

4. Factors Driving Strand's Property Market Growth:

Several key factors have contributed to the sustained growth and appeal of the Strand's real estate market:

1. Coastal Living Appeal: Strand’s coastal lifestyle makes it an attractive destination for those seeking city infrastructure convenience, but close to nature.
2. Infrastructure and Amenities: The continuous improvement of infrastructure and amenities, including schools, healthcare facilities, shopping centers, and recreational options, over the past decade has significantly enhanced the town's desirability. The ongoing construction of the second phase of the Strand seawall promenade in 2025/6 will further elevate the lifestyle offerings. City of Cape Town has also committed R80 million to upgrade the Trappies sewerage system which has come under severe pressure, due to the big inflow of inhabitants into Strand and the rest of the Helderberg area. Project to be completed by 2026.
3. Investment Potential: Investors have increasingly recognized Strand's potential for rental income and property appreciation up to 11,6% p.a., which has outperformed averages in other Western Cape and Cape Town suburbs in 2024.

Thinking of buying or selling residential property in Strand? CCH is the biggest local estate agency in the Strand – and our market share also reflects that. Let our experienced local experts guide you.