Holiday home sales have seen an uptick in coastal areas, with notable growth in transaction volumes and higher price growth compared to inland areas.
Summer season is here, and for some, it is time to go holiday home shopping. With a coastline of over 3,000 kilometres dotted with cities, towns and villages and over 50 Blue Flag beaches and marinas, there is plenty to choose from, according to property practitioners from the Seeff Property Group.
There has been a notable uptick in holiday home sales over the last two years, and according to Samuel Seeff, chairman of the Seeff Property Group, coastal towns have been among the best-performing areas, especially those along the Cape Coast, but also the KZN South Coast. In some coastal areas, second home purchases account for about 15% of sales since mid-2020. Lightstone data comparison between 2021 and 2019 shows that many holiday towns experienced a notable increase in transaction volumes, and some are still ahead compared to the pre-pandemic year. State of the market Lightstone data also shows that price growth for 2021 was higher in the coastal areas compared to the rest of the country, with a growth of 6.1% on the coast compared to 4.9% in the inland area
Summer Season Holiday Home Sales Coastal Areas Transaction Volumes Price Growth
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